This topic contains a solution. Click here to go to the answer

Author Question: Assume Robbie's Robots operates in a perfectly competitive market producing 3,000 robots per day. At ... (Read 78 times)

karlynnae

  • Hero Member
  • *****
  • Posts: 599

Question 1

Assume Robbie's Robots operates in a perfectly competitive market producing 3,000 robots per day. At this output level, the selling price is $800 per robot and the marginal cost is $625 per robot. To maximize profits, Robbie's Robots should


◦ make no adjustments as they are already maximizing their profits.
◦ increase their output.
◦ decrease their output.
◦ stop producing since it is earning a loss.

Question 2

Assume Robbie's Robots operates in a perfectly competitive market producing 3,000 robots per day. At this output level, the selling price is $800 per robot and the marginal cost is $825 per robot. To maximize profits, Robbie's Robots should


◦ make no adjustments as they are already maximizing their profits.
◦ increase their output.
◦ decrease their output.
◦ stop producing since it is earning a loss.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by karlynnae on Apr 19, 2019

jamesnevil303

  • Sr. Member
  • ****
  • Posts: 337
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 25% of students answer this correctly





 

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

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?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

For a complete list of videos, visit our video library