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

Author Question: A firm is currently selling its output for 10 per unit and is producing where marginal revenue ... (Read 97 times)

newbem

  • Hero Member
  • *****
  • Posts: 579
on: Jun 29, 2018
A firm is currently selling its output for 10 per unit and is producing where marginal revenue equals marginal cost at an output level of 100 units.
 
  If the firm's total variable costs are 900 and its fixed costs are 300 should it produce in the short run or shut down?

Question 2

Refer to Table 2-9. If the two countries specialize and trade, who should export wristwatches?
 
  A) Thailand
  B) They should both be importing wristwatches.
  C) Japan
  D) There is no basis for trade between the two countries.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

choc0chan

  • Sr. Member
  • ****
  • Posts: 362
Reply #1 on: Jun 29, 2018
Answer to Question 1

The firm should produce in the short run because its total revenue of 1000 (10 x 100) is greater than its total variable cost of 900 .

Answer to Question 2

A


newbem

  • Member
  • Posts: 579
Reply 2 on: Jun 29, 2018
Wow, this really help

bbburns21

  • Member
  • Posts: 336
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
The energy input and output of glycolysis. The energy input and output of glycolysis.
How is this worker trying to avoid becoming a depersonalized unit in a bureaucratic-economic ... How is this worker trying to avoid becoming a depersonalized unit in a bureaucratic-economic ...
Marginal Supply - Demand Curve Marginal Supply - Demand Curve
Inferring Productivity from Data on Output and Factor Accumulation Inferring Productivity from Data on Output and Factor Accumulation
Computer Literacy for IC3, Unit 2: Using Productivity Software, Update to Office 2013 & Windows ... Computer Literacy for IC3, Unit 2: Using Productivity Software, Update to Office 2013 & Windows ...
In ABC, A=90, b=3 cm, c=7 cm. Solve for all unknowns to the nearest tenth of a unit. In ABC, A=90, b=3 cm, c=7 cm. Solve for all unknowns to the nearest tenth of a unit.
Video: Virtual Tour of the Eye Animation

For a complete list of videos, visit our video library