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Author Question: Consider the perfectly competitive firm in the above figure. The shutdown point occurs at a price of ... (Read 64 times)

CQXA

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on: Jun 29, 2018
Consider the perfectly competitive firm in the above figure. The shutdown point occurs at a price of
 
  A) 11.00.
  B) 12.00.
  C) 16.00.
  D) 22.00.

Question 2

Given the data in the above table, if income is 16, and the price is 1 for a bottle of water and 2 for a hamburger, what is the quantity of water and the quantity of hamburgers that will maximize the consumer's total utility?
 
  A) 5 bottles of water and 5 hamburgers
  B) 4 bottles of water and 6 hamburgers
  C) 6 bottles of water and 5 hamburgers
  D) 6 bottles of water and 6 hamburgers


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mcomstock09

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

A

Answer to Question 2

C


CQXA

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

chereeb

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Reply 3 on: Yesterday
Gracias!

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