« previous next »

Author Question: Consider a firm with the following cost information: ATC = 15, AVC = 12, and MC = 14 . If we know ... (Read 63 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?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

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.

Sharing patient information with colleagues is an important nursing role Sharing patient information with colleagues is an important nursing role
Coding of Olfactory Information Coding of Olfactory Information
Patient Information Supplied When Scheduling Hospital Admissions Patient Information Supplied When Scheduling Hospital Admissions
A typical calibration code sticker on the case of a controller. The information on the sticker is ... A typical calibration code sticker on the case of a controller. The information on the sticker is ...
The science-based DRIs serve as the basis for information The science-based DRIs serve as the basis for information
When operating your own business, it is wise to know your cost of capital and that of the ... When operating your own business, it is wise to know your cost of capital and that of the ...
Video: Component of feedback systems & Communication and regulation of body systems

For a complete list of videos, visit our video library