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Author Question: The table above provides cost data for a perfectly competitive firm producing toy cars. The firm is ... (Read 190 times)

sheilaspns

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on: Jun 29, 2018
The table above provides cost data for a perfectly competitive firm producing toy cars. The firm is producing non-divisible goods. If the market price is 70 and the firm is a profit maximizer, the firm can earn a maximum economic profit of ________.
 
  A) a loss of 500
  B) a loss of 10
  C) a loss of 510
  D) 210

Question 2

Which of the following is TRUE for a single-price monopolist?
 
  A) P > MR
  B) P < MR
  C) P = MR
  D) P = elasticity of demand


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nikmaaacs

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


sheilaspns

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Reply 2 on: Jun 29, 2018
Excellent

Sarahjh

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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