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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

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on: Jun 29, 2018
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.
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alexanderhamilton

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


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