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 109 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
Wow, this really help

sultansheikh

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Acute Stress, Glucocorticoid Level, Synaptic Plasticity, and Learning Acute Stress, Glucocorticoid Level, Synaptic Plasticity, and Learning
Major Findings of the High Scope Preschool Study High Scope participants showed better academic per Major Findings of the High Scope Preschool Study High Scope participants showed better academic per
Mechanisms of pain at the nociceptor level. Mechanisms of pain at the nociceptor level.
Total Solid Waste, MSW per Capita Total Solid Waste, MSW per Capita
Average Global Temperatures Average Global Temperatures
Consider a two-period economy with no investment opportunities: first and second period output ... Consider a two-period economy with no investment opportunities: first and second period output ...
Video: DNA Replication Factory and Protein

For a complete list of videos, visit our video library