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

Author Question: Acme is a perfectly competitive firm. It has the total cost schedule given in the above table. ... (Read 93 times)

FButt

  • Hero Member
  • *****
  • Posts: 519
on: Jun 29, 2018
Acme is a perfectly competitive firm. It has the total cost schedule given in the above table. Acme's product sells for 8.00 per unit. What amount of output is the most profitable and what is Acme's economic profit or economic loss?
 
  What will be an ideal response?

Question 2

Assuming r is the interest rate, to compute the present value of a dollar to be received a year from today, you
 
  A) multiply the dollar by r.
  B) divide the dollar by (1 - r).
  C) multiply the dollar by (1 + r).
  D) divide the dollar by (1 + r).


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mbcrismon

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jun 29, 2018
Answer to Question 1

Acme's profit-maximizing level of output is 7 units. Acme's total economic profit equals its revenue, 56.00 (8.00 per unit  7 units), minus its total cost, 49.80 at this level of output, or 56.00 - 49.80 = 6.20.

Answer to Question 2

D


FButt

  • Member
  • Posts: 519
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

AngeliqueG

  • Member
  • Posts: 343
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

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

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Table Salt Table Salt
Immunizati​on Schedule Immunizati​on Schedule
table table
Use a step stool to help an infirm client get on and off the table. Use a step stool to help an infirm client get on and off the table.
Greet a First-Time Client With a Firm Handshake. Greet a First-Time Client With a Firm Handshake.
Facing the table, place one hand on the thigh and the other on the lower leg. Gently rock the leg ... Facing the table, place one hand on the thigh and the other on the lower leg. Gently rock the leg ...
Video: Cleavage and Implantation Animation

For a complete list of videos, visit our video library