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

Author Question: Suppose Tim's Cowboy boot factory produces in a perfectly competitive market. Suppose the average ... (Read 130 times)

tfester

  • Hero Member
  • *****
  • Posts: 534
on: Jul 20, 2019
Suppose Tim's Cowboy boot factory produces in a perfectly competitive market. Suppose the average total cost of cowboy boots is $65, the average variable cost of cowboy boots is $60, and the price of cowboy boots is $62. If the firm is producing the level of output where marginal cost equals price, then in the short run the firm:
◦ should shut down.
◦ can increase profit by increasing output.
◦ is earning a positive economic profit.
◦ should continue to produce since total revenue exceeds total variable cost.
Microeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by tfester on Jul 20, 2019

kingdude89

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 20, 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 50% of students answer this correctly


tfester

  • Hero Member
  • *****
  • Posts: 534
Reply #2 on: Jul 20, 2019
Excellent


kingdude89

  • Sr. Member
  • ****
  • Posts: 336
Reply #3 on: Jul 20, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Crossing over produces new allelic combinations Crossing over produces new allelic combinations
Average optimal blood pressure for age Average optimal blood pressure for age
Average Chemical Composition of the Geosphere Crust Average Chemical Composition of the Geosphere Crust
Although average brain size increases gradually though time in H. erectus, individuals with small br Although average brain size increases gradually though time in H. erectus, individuals with small br
Richard Prince, Untitled (Cowboy). Richard Prince, Untitled (Cowboy).
Lineweaver–Burk plots of the reactions with and without a competitive inhibitor Lineweaver–Burk plots of the reactions with and without a competitive inhibitor
Video: Reflex arc construction

For a complete list of videos, visit our video library