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

Author Question: Suppose XYZ Corp. is producing and selling disposable wooden chopsticks in a perfectly competitive ... (Read 33 times)

Gabby

  • Full Member
  • ***
  • Posts: 153
on: Oct 12, 2022

Question 1

Farmer Anna is producing tomatoes in a perfectly competitive market. In Year 1 she sells 4000 bushels of tomatoes at a price of $12.00 each. In Year 2 she sells 4800 bushels at $13.00 each. In Year 2, her average revenue is ________ and her marginal revenue is ________.
◦ $12.00; $1.00
◦ $12.50; $12.50
◦ $12.00; $12.00
◦ $13.00; $1.00
◦ $13.00; $13.00

Question 2

Suppose XYZ Corp. is producing and selling disposable wooden chopsticks in a perfectly competitive market. The market price is $0.04 per unit and the firm is currently producing 1 million units per month. The firm's total revenue is ________ per month. The firm's marginal revenue is ________.
◦ $40 000; $0.015
◦ $15 000; $0.015
◦ $40 000; $0.04
◦ $40 000; $0.025
◦ $25 000; $0.04
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Gabby on Oct 12, 2022

Burly

  • Full Member
  • ***
  • Posts: 167
Reply #1 on: Oct 12, 2022
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 50% of students answer this correctly


Gabby

  • Member
  • Posts: 153
Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

xoxo123

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Elle and associates investigated the cost to Datura wrightii of producing sticky leaf trichomes. Elle and associates investigated the cost to Datura wrightii of producing sticky leaf trichomes.
Competitive inhibition Competitive inhibition
Non-competitive inhibition Non-competitive inhibition
Skin color is a polygenic trait controlled by three or four genes, producing a wide range of phenoty Skin color is a polygenic trait controlled by three or four genes, producing a wide range of phenoty
Competitive firms and maximization Competitive firms and maximization
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Video: Helper T cell receptors, activation, proliferation, differentiation & action

For a complete list of videos, visit our video library