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Author Question: The figure above illustrates a firm's demand and marginal revenue curves and its cost curves. If the ... (Read 235 times)

123654777

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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
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Marked as best answer by 123654777 on May 24, 2019

ryansturges

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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.
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123654777

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Reply #2 on: May 24, 2019
Excellent


ryansturges

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Reply #3 on: May 24, 2019
Great! Please up vote :D


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