This topic contains a solution. Click here to go to the answer

Author Question: Tombstones are produced in a monopolistic competitive market. One producer, Rolling Stones, sells 20 ... (Read 72 times)

vinney12

  • Hero Member
  • *****
  • Posts: 586
Tombstones are produced in a monopolistic competitive market. One producer, Rolling Stones, sells 20 tombstones a week at a price of 500 each. Its average total cost is 600 . From this information, we can tell:
 a. new tombstone firms will want to enter.
  b. this producer is losing 2,000 a week.
  c. this producer is making an economic profit of 400.
  d. this producer is setting MR = MC.
  e. this producer should increase production.

Question 2

A budget line represents all the combinations of two good a consumer can buy with a given amount of money and fixed prices for the goods.
 a. True
  b. False
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

zoeyesther

  • Sr. Member
  • ****
  • Posts: 315
Answer to Question 1

b

Answer to Question 2

True




vinney12

  • Member
  • Posts: 586
Reply 2 on: Jun 30, 2018
Excellent


rleezy04

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Gracias!

 

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

For a complete list of videos, visit our video library