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Author Question: If a fishing boat owner brings 10,000 fish to market and the market price is 7 per fish, she will ... (Read 159 times)

jazziefee

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on: Jun 30, 2018
If a fishing boat owner brings 10,000 fish to market and the market price is 7 per fish, she will have 70,000 in total revenue. If the average variable cost of 10,000 fish is 4 and the fixed cost of the boat is 20,000 . what is her profit?
 a. 1.
  b. 3.
  c. 1,000.
  d. 3,000.
  e. 10,000.

Question 2

If the price elasticity is supply coefficient is greater than one, then supply is:
 a. elastic.
  b. inelastic.
  c. perfectly elastic.
  d. perfectly inelastic.


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wuly

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Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

a


jazziefee

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

olderstudent

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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