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

Author Question: The above figure shows the cost curves for a typical firm in a competitive market. From the graph, ... (Read 62 times)

crazycityslicker

  • Hero Member
  • *****
  • Posts: 537
on: Jul 1, 2018
The above figure shows the cost curves for a typical firm in a competitive market. From the graph, estimate the firm's profits when price equals 10 per unit.
 
  What will be an ideal response?

Question 2

A physical examination is NOT a good screening device for life insurance companies if
 
  A) life-threatening diseases are usually undetected.
  B) doctors cannot be easily bribed to write a good report.
  C) medical history is a good predictor of life expectancy.
  D) one's current state of health is a good predictor of life expectancy.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cupcake16

  • Sr. Member
  • ****
  • Posts: 309
Reply #1 on: Jul 1, 2018
Answer to Question 1

When price = 10, p = MC when q = 60. TR = 600. The AC is just above 8.5, say 8.6. This yields TC = 516. The firm's profit is estimated to be around 84.

Answer to Question 2

A


crazycityslicker

  • Member
  • Posts: 537
Reply 2 on: Jul 1, 2018
:D TYSM

shailee

  • Member
  • Posts: 392
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Norway lobsters on sale at a Spanish market Norway lobsters on sale at a Spanish market
The upper panel shows that scores of four diverse samples of boys on a moral reasoning test show a ... The upper panel shows that scores of four diverse samples of boys on a moral reasoning test show a ...
A typical variable cam timing control valve. The solenoid is controlled by the engine computer and ... A typical variable cam timing control valve. The solenoid is controlled by the engine computer and ...
Adult neurogenesis. The top panel shows new cells in the dentate gyrus of the hippocampus—the cell ... Adult neurogenesis. The top panel shows new cells in the dentate gyrus of the hippocampus—the cell ...
Cost of Laptops Cost of Laptops
Calculate the weighted-average cost of the following inventory purchases:DateQuantity ... Calculate the weighted-average cost of the following inventory purchases:DateQuantity ...
Video: Embryonic development - Week 3

For a complete list of videos, visit our video library