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

Author Question: Suppose you produce 10 bikes a day for a total cost of 1000. Total costs increase to 1100 when you ... (Read 268 times)

piesebel

  • Hero Member
  • *****
  • Posts: 565
on: Jun 29, 2018
Suppose you produce 10 bikes a day for a total cost of 1000. Total costs increase to 1100 when you produce 15 bikes. Finally, total costs increase to 1300 if you make 20 bikes.
 
  A graph showing the relationship between total costs and the number of bikes produced would be A) a negatively-sloped line that becomes steeper.
  B) a positively-sloped line that becomes steeper.
  C) a negatively-sloped line that becomes flatter.
  D) a positively-sloped line that becomes flatter.

Question 2

A firm is said to have market power if it charges a price ________ of production.
 
  A) higher than the marginal cost
  B) lower than the marginal cost
  C) equal to the marginal cost
  D) equal to the average fixed cost


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Ddddd

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


piesebel

  • Hero Member
  • *****
  • Posts: 565
Reply #2 on: Jun 29, 2018
Thank you :)


Ddddd

  • Sr. Member
  • ****
  • Posts: 334
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

A guanacaste tree, Enterolobium cyclocarpum, growing in Costa Rica. Guanacaste trees, which produce A guanacaste tree, Enterolobium cyclocarpum, growing in Costa Rica. Guanacaste trees, which produce
A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ... A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ...
The two TP sensors used on the throttle body of an electronic throttle body assembly produce ... The two TP sensors used on the throttle body of an electronic throttle body assembly produce ...
Farmers’ markets provide fresh, local produce to consumers Farmers’ markets provide fresh, local produce to consumers
Finding the length given total distance and distance longer than other point Finding the length given total distance and distance longer than other point
The total weight of Peter, David and Henry is 123 kg, Peter is 15 kg heavier than David. David ... The total weight of Peter, David and Henry is 123 kg, Peter is 15 kg heavier than David. David ...
Video: Lactation and Breast Feeding

For a complete list of videos, visit our video library