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

Author Question: Suppose Robin's Clock Works produces in a perfectly competitive market. Suppose the average total ... (Read 67 times)

nautica902

  • Hero Member
  • *****
  • Posts: 591
on: Jul 20, 2019
Suppose Robin's Clock Works produces in a perfectly competitive market. Suppose the average total cost of clocks is $95, the average variable cost of clocks is $90, and the price of clocks is $85. If the firm is producing the level of output where marginal cost equals price, then in the short run the firm:
◦ should shut down.
◦ is earning a positive economic profit.
◦ can increase profit by increasing output.
◦ 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 nautica902 on Jul 20, 2019

kbennett34

  • Sr. Member
  • ****
  • Posts: 333
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


nautica902

  • Member
  • Posts: 591
Reply 2 on: Jul 20, 2019
:D TYSM

ghepp

  • Member
  • Posts: 361
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Maternal inheritance in the four-o'clock plant. Maternal inheritance in the four-o'clock plant.
Walter Thompson saw his assets evaporate during the stock market collapse in 1929. Desperate for ... Walter Thompson saw his assets evaporate during the stock market collapse in 1929. Desperate for ...
Competitive enzyme immunoassay. (a) Shows the uninhibited reaction and (b) shows the inhibited ... Competitive enzyme immunoassay. (a) Shows the uninhibited reaction and (b) shows the inhibited ...
Canada Total Energy Consumption by Fuel Type Canada Total Energy Consumption by Fuel Type
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
The total weight of Peter, David and Henry is 123 kg, Peter is 15 kg heavier than David. David ... The total weight of Peter, David and Henry is 123 kg, Peter is 15 kg heavier than David. David ...
Video: Ciliate conjugation Animation

For a complete list of videos, visit our video library