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

Author Question: If at some output level for a firm price exceeds average total cost, then the firm is earning an ... (Read 144 times)

@Brianna17

  • Hero Member
  • *****
  • Posts: 550
on: Jun 30, 2018
If at some output level for a firm price exceeds average total cost, then the firm is earning an economic profit.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

The marginal utilities associated with the first 4 units of consumption of good Y are 10, 12, 9, and 7, respectively. What is the total utility associated with the third unit?
 a. 3.
  b. 9.
  c. 25.
  d. 31.
  e. The amount cannot be determined from the marginal utilities.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Laurenleakan

  • Sr. Member
  • ****
  • Posts: 309
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

d


@Brianna17

  • Member
  • Posts: 550
Reply 2 on: Jun 30, 2018
Excellent

hollysheppard095

  • Member
  • Posts: 339
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

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?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Average Global Temperature during the Phanerozoic Average Global Temperature during the Phanerozoic
Gently squeeze/milk the arm with twisting motion. With oil or lotion on hands, use gentle but firm ... Gently squeeze/milk the arm with twisting motion. With oil or lotion on hands, use gentle but firm ...
How to find the average atomic mass of an element How to find the average atomic mass of an element
Average Surface Air Pressure – July Average Surface Air Pressure – July
Average real hourly wages (2010 dollars) by education level, full-time workers aged 17 to 34 in 2011 Average real hourly wages (2010 dollars) by education level, full-time workers aged 17 to 34 in 2011
When operating your own business, it is wise to know your cost of capital and that of the ... When operating your own business, it is wise to know your cost of capital and that of the ...
Video: Blood Flow Through the Kidneys

For a complete list of videos, visit our video library