« previous next »

Author Question: Refer to Scenario 3 . Assume that in one day, two huts were built and 75 coconuts were gathered. ... (Read 135 times)

jace

  • Hero Member
  • *****
  • Posts: 541
on: Jun 29, 2018
Refer to Scenario 3 . Assume that in one day, two huts were built and 75 coconuts were gathered. What does this situation depict?
 
  What will be an ideal response?

Question 2

If an average cost pricing rule is imposed on the firm in the figure above, the firm will make an economic profit of
 
  A) zero.
  B) -240.
  C) 150.
  D) 400.


ricroger

  • Sr. Member
  • ****
  • Posts: 352
Reply #1 on: Jun 29, 2018
Answer to Question 1

The situation depicts the inefficient use of resources as the production point represents one that is inside the production possibilities frontier.

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

jace

  • Hero Member
  • *****
  • Posts: 541
Reply #2 on: Jun 29, 2018
Thank you :)


ricroger

  • Sr. Member
  • ****
  • Posts: 352
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

The health history can be gathered from many sources The health history can be gathered from many sources
On August 17, 1807, thousands of New Yorkers gathered along the Hudson River. Ma On August 17, 1807, thousands of New Yorkers gathered along the Hudson River. Ma
A William Jennings Bryan poster alludes to religion: “no crown of thorns” and no “cross of gold.” Br A William Jennings Bryan poster alludes to religion: “no crown of thorns” and no “cross of gold.” Br
Proteins are built from amino acids. Proteins are built from amino acids.
Refer to (d) in the figure above. This rectifier arrangement Refer to (d) in the figure above. This rectifier arrangement
For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately
Video: Supine Position

For a complete list of videos, visit our video library