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

Author Question: Effect of Changes in Fixed CostsLiban's Lemons sells in a perfectly competitive market. Output per ... (Read 157 times)

Gabby

  • Full Member
  • ***
  • Posts: 153
on: Nov 23, 2022
Effect of Changes in Fixed Costs

Liban's Lemons sells in a perfectly competitive market. Output per day (in pounds of lemons) and total cost is displayed in the table.

Output per dayTotal Cost
0$1.40​
1$3.05​
2$4.20​
3$5.85​
4$7.70​
5$10.25​
Assume that the company maximizes profit by producing 4 pounds of lemons a day. What is the market price?
If fixed costs increase to $2.15, profit-maximizing output will ________ (increase/decrease/stay the same).
◦ $7.70, decrease
◦ $1.85, decrease
◦ $7.70, increase
◦ $1.85, stay the same
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Gabby on Nov 23, 2022

heathercab

  • Full Member
  • ***
  • Posts: 161
Reply #1 on: Nov 23, 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 42% of students answer this correctly


Gabby

  • Member
  • Posts: 153
Reply 2 on: Nov 23, 2022
YES! Correct, THANKS for helping me on my review

Animal_Goddess

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Recombinants are meiotic output different from meiotic input Recombinants are meiotic output different from meiotic input
The effect of a double bond on the shape of fatty acids The effect of a double bond on the shape of fatty acids
The effect of thermal expansion The effect of thermal expansion
Effect of dietary fats on high- and low-density cholesterol levels Effect of dietary fats on high- and low-density cholesterol levels
The ancestral and modern-day tomato. (b) Phenotypic effect of the fw2.2 transgene in the tomato The ancestral and modern-day tomato. (b) Phenotypic effect of the fw2.2 transgene in the tomato
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Video: Aneurysm

For a complete list of videos, visit our video library