« previous next »

Author Question: Suppose your firm has a U-shaped average variable cost curve and operates in a perfectly competitive ... (Read 81 times)

jman1234

  • Hero Member
  • *****
  • Posts: 560
on: Jul 1, 2018
Suppose your firm has a U-shaped average variable cost curve and operates in a perfectly competitive market.
 
  If you produce where the product price (marginal revenue) equals average variable cost (on the upward sloping portion of the AVC curve), then your output will: A) exceed the profit-maximizing level of output.
  B) be smaller than the profit-maximizing level of output.
  C) equal the profit-maximizing level of output.
  D) generate zero economic profits.

Question 2

Welfare recipients differ markedly from other Americans with respect to general personality characteristics, work ethics, and basic life goals.
 
  Indicate whether the statement is true or false


epscape

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

F


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

The human oxygen-hemoglobin dissociation curve. The human oxygen-hemoglobin dissociation curve.
Frequency distribution curve: interpatient variability in drug response Frequency distribution curve: interpatient variability in drug response
Change in Emotional States During Adolescence Average emotional state becomes teadilyi more negativ Change in Emotional States During Adolescence Average emotional state becomes teadilyi more negativ
The Lorenz Curve for the United States, 2009 The Lorenz Curve for the United States, 2009
The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur
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: How does an animal choose what food to eat?

For a complete list of videos, visit our video library