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 24 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
:D TYSM

recede

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Substrate–level phosphorylation. Substrate–level phosphorylation.
Numerical pain level chart with word modifiers. Numerical pain level chart with word modifiers.
A weather map depicting the sea-level pressure distribution for March 4, 1994. A weather map depicting the sea-level pressure distribution for March 4, 1994.
A Scatterplot of the Test Scores and Average Grades of 10 Students A Scatterplot of the Test Scores and Average Grades of 10 Students
Examples of Basic-Level, Subordinate, and Superordinate Concepts Examples of Basic-Level, Subordinate, and Superordinate Concepts
Plan of Trajan's Forum and Market "خطة منتدى ترجان والسوق" Plan of Trajan's Forum and Market "خطة منتدى ترجان والسوق"
Video: Mitochondrial Structure & ETC Protein Complexes (Protein Complexes and Electron Transport)

For a complete list of videos, visit our video library