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

Author Question: The figure above illustrates a firm's demand and marginal revenue curves and its cost curves. If the ... (Read 193 times)

123654777

  • Hero Member
  • *****
  • Posts: 585
on: May 24, 2019


The figure above illustrates a firm's demand and marginal revenue curves and its cost curves.


If the firm in the figure above attempted to minimize its average total cost by producing 100 pairs of Tommy jeans per day at an average total cost of $20 per pair and it sold those jeans for $80 per pair, the firm would
◦ make zero economic profit.
◦ make a larger economic profit than a firm that produced 125 jeans because the ATC of producing 125 jeans is higher than the ATC of producing 100 jeans.
◦ incur an economic loss.
◦ make a smaller economic profit than a firm that produced 125 jeans.
◦ achieve an efficient use of resources.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by 123654777 on May 24, 2019

ryansturges

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: May 24, 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 29% of students answer this correctly


123654777

  • Hero Member
  • *****
  • Posts: 585
Reply #2 on: May 24, 2019
Excellent


ryansturges

  • Sr. Member
  • ****
  • Posts: 338
Reply #3 on: May 24, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Normal development of posture and spinal curves. (A) Toddler: Protruding abdomen; lumbar lordosis. ( Normal development of posture and spinal curves. (A) Toddler: Protruding abdomen; lumbar lordosis. (
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
The power and control wheel illustrates the strategies that one partner may use to intimidate, ... The power and control wheel illustrates the strategies that one partner may use to intimidate, ...
A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ... A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ...
Cost Accounting: A Managerial Emphasis 16th Edition Cost Accounting: A Managerial Emphasis 16th Edition
Cost Accounting 14 Cost Accounting 14
Video: X chromosome inactivation in calico cats

For a complete list of videos, visit our video library