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

Author Question: A firm in a perfectly competitive industry will maximize profits by adjusting (Read 126 times)

blinding37

  • Full Member
  • ***
  • Posts: 148
on: Oct 12, 2022

Question 1

Consider a perfectly competitive firm producing and selling mousetraps at a market price of $5.00. Suppose this firm is currently selling 1750 mousetraps at the market price of $5. If the firm raises its price to $6, its average revenue will be
◦ $5.
◦ $0.
◦ greater than $6.
◦ between $5 and $6.
◦ $6.

Question 2

A firm in a perfectly competitive industry will maximize profits by adjusting
◦ average total cost until it equals price.
◦ price until average revenue equals average total cost.
◦ price until marginal revenue equals marginal cost.
◦ output until average revenue equals short-run average total cost.
◦ output until marginal cost equals marginal revenue.
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 blinding37 on Oct 12, 2022

dsd1212

  • Full Member
  • ***
  • Posts: 176
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 25% of students answer this correctly


blinding37

  • Member
  • Posts: 148
Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

sarah_brady415

  • Member
  • Posts: 328
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d
A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
Competitive inhibitor Competitive inhibitor
Nike (Victory) Adjusting Her Sandal Nike (Victory) Adjusting Her Sandal
Food policy can drive the food industry Food policy can drive the food industry
Video: Osteoporosis

For a complete list of videos, visit our video library