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Author Question: Assume Cathy's Cupcake Company operates in a perfectly competitive market producing 10,000 cupcakes ... (Read 120 times)

acc299

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on: Apr 19, 2019

Question 1

Assume Cathy's Cupcake Company operates in a perfectly competitive market producing 10,000 cupcakes per day. At this output level, price exceeds the firm's marginal and average variable costs. It follows that producing one more cupcake will cause this firm's


◦ total cost to decrease.
◦ profits to increase.
◦ profits to decrease.
◦ profits to remain unchanged.

Question 2

Assume Cathy's Cupcake Company operates in a perfectly competitive market producing 10,000 cupcakes per day. At this output level, price exceeds this firmʹs marginal and average variable costs. To maximize profits, Cathy's should


◦ make no adjustments as they are already maximizing their profits.
◦ increase their output.
◦ decrease their output.
◦ stop producing since it is earning a loss.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by acc299 on Apr 19, 2019

jaaaaaaa

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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.
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acc299

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Reply 2 on: Apr 19, 2019
Great answer, keep it coming :)

jamesnevil303

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Reply 3 on: Yesterday
Wow, this really help

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