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

Author Question: The above figure shows the cost curves for a typical firm in a competitive market. From the graph, ... (Read 61 times)

crazycityslicker

  • Hero Member
  • *****
  • Posts: 537
on: Jul 1, 2018
The above figure shows the cost curves for a typical firm in a competitive market. From the graph, estimate the firm's profits when price equals 10 per unit.
 
  What will be an ideal response?

Question 2

A physical examination is NOT a good screening device for life insurance companies if
 
  A) life-threatening diseases are usually undetected.
  B) doctors cannot be easily bribed to write a good report.
  C) medical history is a good predictor of life expectancy.
  D) one's current state of health is a good predictor of life expectancy.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cupcake16

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

When price = 10, p = MC when q = 60. TR = 600. The AC is just above 8.5, say 8.6. This yields TC = 516. The firm's profit is estimated to be around 84.

Answer to Question 2

A


crazycityslicker

  • Member
  • Posts: 537
Reply 2 on: Jul 1, 2018
Excellent

lcapri7

  • Member
  • Posts: 350
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

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).

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

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.

Comparison of the titration curves of three weak acids Comparison of the titration curves of three weak acids
Typical glycoprotein Typical glycoprotein
C. Wright Mills (1916-1962) was a controversial figure in sociology because of his analysis of the ... C. Wright Mills (1916-1962) was a controversial figure in sociology because of his analysis of the ...
Caravaneer on a camel, China. Tang dynasty, (618–907). Polychrome terra-cotta figure. Caravaneer on a camel, China. Tang dynasty, (618–907). Polychrome terra-cotta figure.
Two ROC Curves Two ROC Curves
How to find the possible equations of a graph? How to find the possible equations of a graph?
Video: Oxygen - hemoglobin dissociation curve & Hemoglobin's affinity with oxygen - acidity

For a complete list of videos, visit our video library