This topic contains a solution. Click here to go to the answer

Author Question: In the above figure, at a price of 8, a perfectly competitive firm produces ________ and it ... (Read 139 times)

pepyto

  • Hero Member
  • *****
  • Posts: 547
In the above figure, at a price of 8, a perfectly competitive firm produces ________ and it ________.
 
  A) 0; incurs an economic loss
  B) 0; makes zero economic profit
  C) some output; makes zero economic profit
  D) some output; makes an economic profit

Question 2

Using the above figure, CBL is the cost of breaking the law. What is the equilibrium price and quantity if beer is legal?
 
  A) 5 per quart and 300 quarts of beer
  B) 3 per quart and 500 quarts of beer
  C) 3 per quart and 100 quarts of beer
  D) 1 per quart and 300 quarts of beer



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

fur

  • Sr. Member
  • ****
  • Posts: 309
Answer to Question 1

C

Answer to Question 2

B




pepyto

  • Member
  • Posts: 547
Reply 2 on: Jun 29, 2018
Wow, this really help


robbielu01

  • Member
  • Posts: 336
Reply 3 on: Yesterday
:D TYSM

 

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.

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

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?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

For a complete list of videos, visit our video library