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

Author Question: Firm A charges 8.50 for each unit of Good X. If the average total cost of producing 1,000 units of ... (Read 88 times)

DelorasTo

  • Hero Member
  • *****
  • Posts: 548
on: Jun 29, 2018
Firm A charges 8.50 for each unit of Good X. If the average total cost of producing 1,000 units of Good X is 12 and the market for Good X is monopolistically competitive, Firm A ________ by producing 1,000 units of Good X.
 
  A) earns a profit of 3,500
  B) earns a profit of 1,000
  C) incurs a loss of 1,000
  D) incurs a loss of 3,500

Question 2

Which of the following examples best describes the concept of free entry?
 
  A) Jack has an old cell phone that he wants to sell. He opens an account on eBay and auctions it off.
  B) Purecircuit Cor


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

elizabethrperez

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


DelorasTo

  • Member
  • Posts: 548
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

xiaomengxian

  • Member
  • Posts: 311
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Retrograde pyelogram. A contrast medium is injected into the ureter using a cystoscope, and the X-ra Retrograde pyelogram. A contrast medium is injected into the ureter using a cystoscope, and the X-ra
Generally, the total tax burden in the United States is much lower than that of other industrialize Generally, the total tax burden in the United States is much lower than that of other industrialize
Average Global Temperature during the Phanerozoic Average Global Temperature during the Phanerozoic
Examples of Impacts Associated with Different Amounts of Global Average Temperat Examples of Impacts Associated with Different Amounts of Global Average Temperat
A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ... A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ...
Expressing amounts of energy in different energy units is necessary to solve many chemistry ... Expressing amounts of energy in different energy units is necessary to solve many chemistry ...
Video: Protein catabolism (Krebs cycle) and Protein anabolism (protein synthesis)

For a complete list of videos, visit our video library