« previous next »

Author Question: If price is equal to short-run average variable cost, this price is known as a. the break-even ... (Read 26 times)

Themember4

  • Hero Member
  • *****
  • Posts: 538
on: Jul 1, 2018
If price is equal to short-run average variable cost, this price is known as
 a. the break-even price.
  b. the profit-maximizing price.
  c. the shutdown price.
  d. the revenue-maximizing price.

Question 2

Which of the following conditions would result in the short run marginal cost curve not correctly reflecting the supply behavior of a profit maximizing firm?
 a. The firm is a price taker.
  b. Price exceeds average total cost.
  c. The elasticity of demand facing the firm is 3.
  d. the firm can vary several inputs in the short run.


nicoleclaire22

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

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?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
Drug A is more potent than Drugs B and C. Drugs A and C have equal efficacy because both drugs have ... Drug A is more potent than Drugs B and C. Drugs A and C have equal efficacy because both drugs have ...
Average Number of Days per Year with Thunderstorms Average Number of Days per Year with Thunderstorms
Average real hourly wages (2010 dollars) by education level, full-time workers aged 17 to 34 in 2011 Average real hourly wages (2010 dollars) by education level, full-time workers aged 17 to 34 in 2011
The temperature of an average lightning bolt is 3.0 x 104 °C. What is the equiva The temperature of an average lightning bolt is 3.0 x 104 °C. What is the equiva
A cowbird with its foster parent. A female cowbird minimizes her cost of parental care by laying her A cowbird with its foster parent. A female cowbird minimizes her cost of parental care by laying her
Video: Anatomy and Chemical Makeup of a Single Hair (Animation)

For a complete list of videos, visit our video library