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Author Question: Suppose a monopolistic competitor produces 1,250 units of a good in equilibrium and charges a price ... (Read 31 times)

geoffrey

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on: Jun 29, 2018
Suppose a monopolistic competitor produces 1,250 units of a good in equilibrium and charges a price of 7.50 for each unit. If the average total cost of producing 1,250 units of the good is 8, what is the total loss incurred by the producer?
 
  A) 0.50
  B) 500
  C) 625
  D) 1.50

Question 2

Which of the following statements correctly differentiates between positive and normative economics?
 
  A) Positive economics is descriptive, whereas normative economics is advisory.
  B) Positive economics describes what people ought to do, whereas normative economics describes what people actually do.
  C) Positive economics is based on judgments, whereas normative economics is not.
  D) Positive economics can only be applied to microeconomics, whereas normative economics can be applied to both microeconomics and macroeconomics.
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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adf223

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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geoffrey

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

dawsa925

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

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