« previous next »

Author Question: Refer to Figure 13-10. to answer the following questions. a. What is the profit-maximizing output ... (Read 83 times)

Chloeellawright

  • Hero Member
  • *****
  • Posts: 588
on: Jun 29, 2018
Refer to Figure 13-10. to answer the following questions.
 
  a. What is the profit-maximizing output level?
  b. What is the profit-maximizing price?
  c. At the profit-maximizing output level, how much profit will be realized?
  d. Does this graph most likely represent the long run or the short run? Why?

Question 2

An entry barrier exists when firms in an industry charge the lowest price possible for their products.
 
  Indicate whether the statement is true or false
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


BUTTHOL369

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 29, 2018
Answer to Question 1

a. The profit-maximizing output level is 22.
b. The profit maximizing price is 16.
c. The profit is 88.
d. Since the firm is making a profit, this most likely represents the short run.

Answer to Question 2

FALSE


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

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

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

The energy input and output of glycolysis. The energy input and output of glycolysis.
C. Wright Mills (1916-1962) was a controversial figure in sociology because of his analysis of the ... C. Wright Mills (1916-1962) was a controversial figure in sociology because of his analysis of the ...
Possible Sources of Differences in Output per Worker Possible Sources of Differences in Output per Worker
Role of Productivity in Determining Output per Worker, 2009 Role of Productivity in Determining Output per Worker, 2009
Second Derivative Questions Second Derivative Questions
Biology multiple choice questions Biology multiple choice questions
Video: Darwin's Observation (Fossils, Galapagos Islands & Africa ) and Natural Selection (Adaptive Traits)

For a complete list of videos, visit our video library