« previous next »

Author Question: Consider a firm with the following cost information: ATC = 15, AVC = 12, and MC = 14 . If we know ... (Read 28 times)

OSWALD

  • Hero Member
  • *****
  • Posts: 580
on: Jun 30, 2018
Consider a firm with the following cost information: ATC = 15, AVC = 12, and MC = 14 . If we know that this firm has decided to produce Q = 20 by following the rule to maximize profits or minimize losses, then the price of the output is:
 a. 12.
  b. 14.
  c. 15.
  d. 20.

Question 2

The value of cross elasticity of demand between orange soda and grape soda is:
 a. negative.
  b. positive.
  c. 0.
  d. between 1 and 0.
  e. less than 1.


joanwhite

  • Sr. Member
  • ****
  • Posts: 308
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Information flows from the nucleus to the cytoplasm and back. Information flows from the nucleus to the cytoplasm and back.
Genetic Information Genetic Information
Cost Savings with an EHR System Cost Savings with an EHR System
The vehicle emissions control information (VECI) sticker is placed under the hood. The vehicle emissions control information (VECI) sticker is placed under the hood.
The CAMEO entry for chlorine. Useful information includes chemical and physical properties, personal ... The CAMEO entry for chlorine. Useful information includes chemical and physical properties, personal ...
Calculate the weighted-average cost of the following inventory purchases:DateQuantity ... Calculate the weighted-average cost of the following inventory purchases:DateQuantity ...
Video: Global warming and its effect on climate change

For a complete list of videos, visit our video library