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Author Question: In the above figure, at a price of 4 per unit, a profit-maximizing perfectly competitive firm will ... (Read 79 times)

Yi-Chen

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on: Jun 29, 2018
In the above figure, at a price of 4 per unit, a profit-maximizing perfectly competitive firm will
 
  A) shut down because its total revenue is less than its variable costs.
  B) incur an economic loss.
  C) produce 5 units.
  D) Both answers A and B are correct.

Question 2

Lizzie's budget line is shown in the figure above. Lizzie's real income in terms of magazines is ________ magazines
 
  A) 5
  B) 10
  C) 15
  D) 20


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ong527

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


Yi-Chen

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

kjohnson

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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