This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A firm sells 30 units of its product at a price of 5 per unit. It incurs a fixed cost of 100 and a ... (Read 143 times)

yoroshambo

  • Hero Member
  • *****
  • Posts: 566
on: Jun 29, 2018
A firm sells 30 units of its product at a price of 5 per unit. It incurs a fixed cost of 100 and a variable cost of 20. The firm's profit is:
 
  A) 30.
  B) 50.
  C) 100.
  D) 150.

Question 2

According to the economic way of thinking, money is defined as
 
  A) anything backed by gold.
  B) anything backed by some other commodity.
  C) anything used as a general medium of exchange.
  D) anything the government declares to be legal tender.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mariahkathleeen

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


yoroshambo

  • Member
  • Posts: 566
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

bbburns21

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact. Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact.
Importance of Considering Gestalt Principles in Product Design (1 of 2) Importance of Considering Gestalt Principles in Product Design (1 of 2)
Importance of Considering Gestalt Principles in Product Design Importance of Considering Gestalt Principles in Product Design
If y = 0.02 sin (30x - 400t) (SI units), the velocity of the wave is If y = 0.02 sin (30x - 400t) (SI units), the velocity of the wave is
Because the factor h on the right side of the Heisenberg uncertainty principle has units of ... Because the factor h on the right side of the Heisenberg uncertainty principle has units of ...
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Video: Properties of water -structure of water and polarity (Ionized and polar compounds)

For a complete list of videos, visit our video library