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

Author Question: _____ is the locus of the minimum points of various short-run average cost curves depicting ... (Read 38 times)

tuffie

  • Hero Member
  • *****
  • Posts: 534
on: Jun 30, 2018
_____ is the locus of the minimum points of various short-run average cost curves depicting different plant sizes.
 a. Long-run marginal cost
  b. Expansion path
  c. Long-run average cost
  d. Isocost

Question 2

Quickie Inc, a perfectly competitive firm, currently maximizes profit by producing 400 units of output. If its marginal cost is equal to 25 and its average total cost is 20, then how much is it earning in economic profit?
 a. Economic profit is always equal to zero in perfect competition.
  b. 10,000
  c. 8,000
  d. 2,000
  e. 4,000


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

vickybb89

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

d


tuffie

  • Member
  • Posts: 534
Reply 2 on: Jun 30, 2018
Wow, this really help

vickyvicksss

  • Member
  • Posts: 351
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Average Hourly Earnings of U.S. Workers in Current and Constant Dollars Average Hourly Earnings of U.S. Workers in Current and Constant Dollars
How to use the closed interval method to find absolute maximum and minimum values How to use the closed interval method to find absolute maximum and minimum values
Apply vibration clockwise around abdomen with fingertips to points in a circle over the colon. Apply vibration clockwise around abdomen with fingertips to points in a circle over the colon.
Species-area curves Species-area curves
Graph the function by hand & label key points on graph: Graph the function by hand & label key points on graph:
In 2000, the average charge of tax preparation was 95 . Assuming a normal distribution and a ... In 2000, the average charge of tax preparation was 95 . Assuming a normal distribution and a ...
Video: Gas exchange - partial pressure, locations, external and internal respiration

For a complete list of videos, visit our video library