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

Author Question: Suppose XYZ Corp. is producing and selling disposable wooden chopsticks in a perfectly competitive ... (Read 67 times)

Bobvance

  • Full Member
  • ***
  • Posts: 154
on: Oct 12, 2022
Suppose XYZ Corp. is producing and selling disposable wooden chopsticks in a perfectly competitive market. The market price is $0.04 per unit and the firm is selling 1 million units per month. Now suppose the firm increases its stated price to $0.05 per unit. According to the theory of perfect competition, the result will be
◦ total revenue for this firm will increase, but by less than $10 000 per month.
◦ total revenue will decrease from $50 000 to $40 000 per month.
◦ total revenue will increase from $40 000 to $50 000 per month.
◦ total revenue for this firm will fall dramatically, perhaps to zero.
◦ no change in the firm's total revenue.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Bobvance on Oct 12, 2022

Hamad

  • Full Member
  • ***
  • Posts: 163
Reply #1 on: Oct 12, 2022
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 50% of students answer this correctly


Bobvance

  • Member
  • Posts: 154
Reply 2 on: Oct 12, 2022
:D TYSM

Joy Chen

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Competitive inhibition Competitive inhibition
Gynecological instruments: disposable vaginal speculum. Gynecological instruments: disposable vaginal speculum.
Project Management: Achieving Competitive Advantage Project Management: Achieving Competitive Advantage
Skin color is a polygenic trait controlled by three or four genes, producing a wide range of phenoty Skin color is a polygenic trait controlled by three or four genes, producing a wide range of phenoty
Competitive firms and maximization Competitive firms and maximization
Producing human insulin in E. coli Producing human insulin in E. coli
Video: Carbohydrate Metabolism: Introduction to renal processes and filtrate formation and composition

For a complete list of videos, visit our video library