« previous next »

Author Question: Suppose your firm has a U-shaped average variable cost curve and operates in a perfectly competitive ... (Read 101 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?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

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.

Titration curve for aspartic acid Titration curve for aspartic acid
Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition
The Frequency Distribution Curve of a Drug The Frequency Distribution Curve of a Drug
Identify the variable representing each described quantity in the equation Identify the variable representing each described quantity in the equation
Competitive firms and maximization Competitive firms and maximization
The age-of-onset curve for Huntington disease (HD) The age-of-onset curve for Huntington disease (HD)
Video: Wound Cultures

For a complete list of videos, visit our video library