Author Question: Refer to Figure 12-6. If Jason maximizes his profit he will produce the output rate indicated by ... (Read 33 times)

NguyenJ · **on:** Jun 29, 2018

Refer to Figure 12-6. If Jason maximizes his profit he will produce the output rate indicated by point ________ and his average profit will equal ________.

A) a; 3 B) b; 3 minus ATC at point b
C) d; 3 minus ATC at point d D) e; 3 minus ATC at point e

Question 2

The law of one price holds exactly only if

A) buyers have complete information. B) antitrust laws are being enforced.
C) it is impossible for buyers to resell the good. D) transactions costs are zero.