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

Author Question: The figure above illustrates a firm's demand and marginal revenue curves and its cost curves. If the ... (Read 223 times)

123654777

  • Hero Member
  • *****
  • Posts: 585
on: May 24, 2019


The figure above illustrates a firm's demand and marginal revenue curves and its cost curves.


If the firm in the figure above attempted to minimize its average total cost by producing 100 pairs of Tommy jeans per day at an average total cost of $20 per pair and it sold those jeans for $80 per pair, the firm would
◦ make zero economic profit.
◦ make a larger economic profit than a firm that produced 125 jeans because the ATC of producing 125 jeans is higher than the ATC of producing 100 jeans.
◦ incur an economic loss.
◦ make a smaller economic profit than a firm that produced 125 jeans.
◦ achieve an efficient use of resources.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by 123654777 on May 24, 2019

ryansturges

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: May 24, 2019
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 29% of students answer this correctly


123654777

  • Hero Member
  • *****
  • Posts: 585
Reply #2 on: May 24, 2019
Excellent


ryansturges

  • Sr. Member
  • ****
  • Posts: 338
Reply #3 on: May 24, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

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?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Hyperopia (farsightedness). In the uncorrected top figure, the image would come into focus behind th Hyperopia (farsightedness). In the uncorrected top figure, the image would come into focus behind th
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Continuum of aggression. Based on an unpublished figure by Joanne DeSanto Iennaco. Continuum of aggression. Based on an unpublished figure by Joanne DeSanto Iennaco.
Human photopic (cone) and scotopic (rod) spectral sensitivity curves. The peak of each curve has ... Human photopic (cone) and scotopic (rod) spectral sensitivity curves. The peak of each curve has ...
Apply scissoring between metatarsals and figure-8s on toe joints to mobilize the foot. Apply scissoring between metatarsals and figure-8s on toe joints to mobilize the foot.
Video: Non-polar compounds - insolubility

For a complete list of videos, visit our video library