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Author Question: In the above figure, at a price of 8, a perfectly competitive firm produces ________ and it ... (Read 141 times)

pepyto

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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



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fur

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Answer to Question 1

C

Answer to Question 2

B




pepyto

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)


Sarahjh

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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