The figure above shows Mollie's Mugs' costs of producing mugs. ...

[ENagel]

The figure above shows Mollie's Mugs' costs of producing mugs. The mug market is perfectly competitive.
 
  If the market price of a mug falls to 5 and Mollie's shuts down temporarily, its total variable cost is ________ an hour and it incurs an economic loss of ________ an hour. A) 160; 280
  B) 8; 14
  C) 0; 120
  D) 0; 6

Question 2

The above figures show the market for hamburger meat. Which figure shows the effect of a newly invented machine which grinds beef at twice the speed previously possible?
 
  A) Figure A
  B) Figure B
  C) Figure C
  D) Figure D

[adammoses97]

Answer to Question 1

C

Answer to Question 2

D

[ENagel]

Correct answers!

[adammoses97]

Great! Please up vote