This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Wheat is produced in a perfectly competitive market. Market demand for wheat increases. This will ... (Read 152 times)

acc299

  • Hero Member
  • *****
  • Posts: 569
on: Apr 19, 2019

Question 1

A firm in a perfectly competitive industry is producing 50 units, its profit-maximizing quantity. Industry price is $2, total fixed costs are $25, and total variable costs are $40. The firm's economic profit is


◦ $15.
◦ $30.
◦ $35.
◦ $60.

Question 2

Wheat is produced in a perfectly competitive market. Market demand for wheat increases. This will cause the individual wheat farmer's marginal revenue to ________ and their profit-maximizing level of output to ________.


◦ increase; increase
◦ increase; decrease
◦ decrease; increase
◦ decrease; decrease
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by acc299 on Apr 19, 2019

jessofishing

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


acc299

  • Hero Member
  • *****
  • Posts: 569
Reply #2 on: Apr 19, 2019
Excellent


jessofishing

  • Sr. Member
  • ****
  • Posts: 329
Reply #3 on: Apr 19, 2019
Great! Please up vote :D


« previous next »
 

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.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Dred Scott and his wife and children are featured on the cover of Frank Leslie’s Illustrated Newspap Dred Scott and his wife and children are featured on the cover of Frank Leslie’s Illustrated Newspap
Responses Produced by Activation of Specific Opioid Receptors Responses Produced by Activation of Specific Opioid Receptors
Effects of competitive inhibition on enzyme kinetics Effects of competitive inhibition on enzyme kinetics
Lineweaver–Burk plots of the reactions with and without a competitive inhibitor Lineweaver–Burk plots of the reactions with and without a competitive inhibitor
The hormone leptin is produced in fat cells, moves through the blood, and binds to receptors in the The hormone leptin is produced in fat cells, moves through the blood, and binds to receptors in the
Polygenic inheritance of wheat kernel color controlled by two additive genes Polygenic inheritance of wheat kernel color controlled by two additive genes
Video: Hormonal regulation of pregnancy - week 1

For a complete list of videos, visit our video library