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

Author Question: If the market price is 5 and you are currently producing at a level where average total cost is 3 ... (Read 33 times)

washai

  • Hero Member
  • *****
  • Posts: 523
on: Jun 30, 2018
If the market price is 5 and you are currently producing at a level where average total cost is 3 and falling, you should:
 a. b or c, it doesn't matter.
  b. shut down.
  c. produce only enough to cover variable costs.
  d. produce where MR = MC.
  e. produce until the average total cost and average revenue are equal.

Question 2

The responsiveness of suppliers to changing prices is called the:
 a. cross elasticity.
  b. supply elasticity.
  c. supply period.
  d. long-run.
  e. market-day.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

annierak

  • Sr. Member
  • ****
  • Posts: 340
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

b


washai

  • Member
  • Posts: 523
Reply 2 on: Jun 30, 2018
Gracias!

apple

  • Member
  • Posts: 352
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

People using walkers typically have a high level of mobility impairment. People using walkers typically have a high level of mobility impairment.
Income per Capita versus Total Fertility Rate Income per Capita versus Total Fertility Rate
Anglin's estimates of the total vocabulary of children in Grades 1, 3, and 5 Anglin's estimates of the total vocabulary of children in Grades 1, 3, and 5
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
A cowbird with its foster parent. A female cowbird minimizes her cost of parental care by laying her A cowbird with its foster parent. A female cowbird minimizes her cost of parental care by laying her
Video: Cardiac conductile cells

For a complete list of videos, visit our video library