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

Author Question: In the above figure, the movement from point C to point A is the result of A) a decrease in the ... (Read 79 times)

kfurse

  • Hero Member
  • *****
  • Posts: 590
on: Jun 29, 2018
In the above figure, the movement from point C to point A is the result of
 
  A) a decrease in the price of coffee.
  B) an increase in the price of coffee.
  C) a decrease in the price of gasoline.
  D) an increase in the price of gasoline.

Question 2

What is the relationship between the price, P, and the average total cost, ATC, for a firm in perfect competition that makes an economic profit? That makes zero economic profit? That incurs an economic loss?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

chloejackso

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

If the price is greater than the average total cost, P > ATC, the firm makes an economic profit. If the price equals the average total cost, P = ATC, the firm makes zero economic profit. If the price is less than the average total cost, P < ATC, the firm incurs an economic loss.


kfurse

  • Member
  • Posts: 590
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

aliotak

  • Member
  • Posts: 326
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Location of point of maximum effort Location of point of maximum effort
Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de
Phrases that Decrease Customer Service Level Phrases that Decrease Customer Service Level
Graph showing how the boiling point of the coolant increases as the percentage of antifreeze in ... Graph showing how the boiling point of the coolant increases as the percentage of antifreeze in ...
. Calculate the net electric field at point B . Calculate the net electric field at point B
Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ... Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ...
Video: Generalized life cycles for plants and animals Animation

For a complete list of videos, visit our video library