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

Author Question: If a perfectly competitive wheat farmer is maximizing its profit and then increases its output, the farmer's (Read 114 times)

folubunmi

  • Hero Member
  • *****
  • Posts: 524
on: May 24, 2019
If a perfectly competitive wheat farmer is maximizing its profit and then increases its output, the farmer's
◦ total revenue increases, but total cost rises by more so that the farmer's total profit decreases.
◦ total revenue decreases and total cost increases, both thereby decreasing the farmer's total profit.
◦ total revenue does not change but total cost increases, thereby decreasing the farmer's total profit.
◦ marginal revenue increases, but so does marginal cost, so that the farmer's total profit increases.
◦ total revenue and total cost both rise, but the effect on the farmer's total profit is uncertain.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by folubunmi on May 24, 2019

tsternbergh47

  • Sr. Member
  • ****
  • Posts: 311
Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


folubunmi

  • Member
  • Posts: 524
Reply 2 on: May 24, 2019
:D TYSM

cpetit11

  • Member
  • Posts: 321
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Species richness increases with island size. Species richness increases with island size.
The proportion of men and women with elevated blood pressure or taking hypertension medication incre The proportion of men and women with elevated blood pressure or taking hypertension medication incre
Weak valve springs will produce a normal reading at idle, but as engine speed increases, the needle ... Weak valve springs will produce a normal reading at idle, but as engine speed increases, the needle ...
Competitive enzyme immunoassay. (a) Shows the uninhibited reaction and (b) shows the inhibited ... Competitive enzyme immunoassay. (a) Shows the uninhibited reaction and (b) shows the inhibited ...
Wheat Plant Wheat Plant
Competitive firms and maximization Competitive firms and maximization
Video: Types of disease resistance: innate defenses & immunity

For a complete list of videos, visit our video library