« previous next »

Author Question: If the marginal cost of a perfectly competitive firm producing a good is 50 and the market price of ... (Read 74 times)

saraeharris

  • Hero Member
  • *****
  • Posts: 546
on: Jun 29, 2018
If the marginal cost of a perfectly competitive firm producing a good is 50 and the market price of the good is 100, the firm should:
 
  A) decrease its output.
  B) increase its output.
  C) try to increase the market price.
  D) try to decrease the market price.

Question 2

Refer to the scenario above. If Maria's opportunity cost of time increases to 80 per hour, the cost involved in taking the train is:
 
  A) 320.
  B) 720.
  C) 800.
  D) 970.


chreslie

  • Sr. Member
  • ****
  • Posts: 307
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d
This label on a Toyota Camry hybrid shows the relative smog-producing emissions, but this does not ... This label on a Toyota Camry hybrid shows the relative smog-producing emissions, but this does not ...
Good hand and body mechanics when applying thumb pressure to the back. Good hand and body mechanics when applying thumb pressure to the back.
Cost Accounting 14 Cost Accounting 14
Project Management: Achieving Competitive Advantage Project Management: Achieving Competitive Advantage
Most Canadian seniors rated their health as good to excellent. Most Canadian seniors rated their health as good to excellent.
Video: Mycobacterium tuberculosis: Drug Resistance and Natural Selection

For a complete list of videos, visit our video library