A firm receives 10 per unit at an equilibrium level of output of ...

[bucstennis@aim.com]

A firm receives 10 per unit at an equilibrium level of output of 80 units. The average total cost at 80 units of output is 8 . The firm makes a total economic profit of:
 a. 120.
  b. 160.
  c. 100
 d. 80

Question 2

Why does the census data overstate inequality?
 a. They overestimate the non cash transfers received by the people from the government.
  b. They take into account the after-tax incomes.
  c. They take into account the gifts and transfer receipts from friends and relatives staying abroad.
  d. They do not consider the in-kind transfers received by the people from the government.
  e. They overestimate the medical benefits received by the people from the government.

[ryansturges]

Answer to Question 1

b

Answer to Question 2

d

[bucstennis@aim.com]

Gracias!

[Sarahjh]

TYSM