« previous next »

Author Question: A firm's producer surplus equals its economic profit when A) average variable costs are ... (Read 14 times)

clippers!

  • Hero Member
  • *****
  • Posts: 828
on: Jul 1, 2018
A firm's producer surplus equals its economic profit when
 
  A) average variable costs are minimized.
  B) average fixed costs are minimized.
  C) marginal costs equal marginal revenue.
  D) fixed costs are zero.
  E) total revenues equal total variable costs.

Question 2

Refer to Scenario 17.4. If the flood control system were in place, the firm could insure against a flood for an annual premium of
 
  A) 5,000.
  B) 10,000.
  C) 100,000.
  D) 200,000.
  E) 1,000,000.


vseab

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Average national IQs according to IQ and Global Inequality Average national IQs according to IQ and Global Inequality
Economic and Social Development Economic and Social Development
Economic Globalization Economic Globalization
economic question economic question
economic question economic question
economic question (having trouble) economic question (having trouble)
Video: Bacteriophage (Virus) - Mice Experiment

For a complete list of videos, visit our video library