« previous next »

Author Question: A firm's producer surplus equals its economic profit when A) average variable costs are ... (Read 59 times)

clippers!

  • Hero Member
  • *****
  • Posts: 828
on: Jul 1, 2018
A firm's producer surplus equals its economic profit when
 
  A) average variable costs are minimized.
  B) average fixed costs are minimized.
  C) marginal costs equal marginal revenue.
  D) fixed costs are zero.
  E) total revenues equal total variable costs.

Question 2

Refer to Scenario 17.4. If the flood control system were in place, the firm could insure against a flood for an annual premium of
 
  A) 5,000.
  B) 10,000.
  C) 100,000.
  D) 200,000.
  E) 1,000,000.


vseab

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

The schematic of a variable valve timing control circuit, showing that battery power (+) is being ... The schematic of a variable valve timing control circuit, showing that battery power (+) is being ...
Variable Gases: Water Vapor Variable Gases: Water Vapor
Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product
economic question economic question
economic question economic question
Economic question 5 Economic question 5
Video: Nucleic acid digestion -small intestine

For a complete list of videos, visit our video library