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 125 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?

The FDA recognizes 118 routes of administration.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

A mast cell, which produces the symptoms of a hypersensitivity reaction. A mast cell, which produces the symptoms of a hypersensitivity reaction.
Independent assortment produces 50 percent recombinants Independent assortment produces 50 percent recombinants
Average Global Temperature during the Phanerozoic Average Global Temperature during the Phanerozoic
A Hall-effect sensor produces a digital on-off voltage signal whether it is used with a blade or a ... A Hall-effect sensor produces a digital on-off voltage signal whether it is used with a blade or a ...
Secondary response begins more rapidly after exposure to antigen, produces more antibodies, and ... Secondary response begins more rapidly after exposure to antigen, produces more antibodies, and ...
Average household size Average household size
Video: Chemical Synapse Animation

For a complete list of videos, visit our video library