Author Question: Refer to Figure 11-2. Short run output is maximized at A) L1. B) L2. C) L3. D) insufficient ... (Read 70 times)

oliviahorn72

  • Hero Member
  • *****
  • Posts: 579
Refer to Figure 11-2. Short run output is maximized at
 
  A) L1. B) L2.
  C) L3. D) insufficient information to determine

Question 2

Mark Frost grows apples in a perfectly competitive market. If we drew a line in a graph that illustrates Mark's total revenue from selling apples, it would be
 
  A) a straight, upward-sloping line.
  B) a straight, downward-sloping line.
  C) a horizontal line.
  D) a curve that is negatively sloped at low levels of output and positively sloped at higher levels of output.


alexanderhamilton

  • Sr. Member
  • ****
  • Posts: 334
Answer to Question 1

C

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

For a complete list of videos, visit our video library