This topic contains a solution. Click here to go to the answer

Author Question: Consider a firm with the following cost and revenue information: ATC = 8, AVC = 7, and MR = MC = 6 . ... (Read 45 times)

ericka1

  • Hero Member
  • *****
  • Posts: 544
Consider a firm with the following cost and revenue information: ATC = 8, AVC = 7, and MR = MC = 6 . If the firm produces Q = 60 in the short run, it:
 a. is minimizing losses.
  b. makes a total loss of 60.
  c. should produce more output.
  d. is making a mistake and should shut down.
  e. is maximizing total profit.

Question 2

The price elasticity of demand between rifles and bullets is likely to be:
 a. negative, because the goods are complements.
  b. positive, because the goods are complements.
  c. negative, because the goods are substitutes.
  d. positive, because the goods are substitutes.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cegalasso

  • Sr. Member
  • ****
  • Posts: 295
Answer to Question 1

d

Answer to Question 2

a





 

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

For a complete list of videos, visit our video library