Author Question: A firm receives 10 per unit at an equilibrium level of output of 80 units. The average total cost at ... (Read 77 times)

bucstennis@aim.com · **on:** Jun 30, 2018

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.