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

Author Question: The following table shows costs and revenue schedules for a firm.Quantity (units)AC ()MC ()AR ()MR ... (Read 26 times)

09madisonrousseau09

  • Hero Member
  • *****
  • Posts: 559
on: May 25, 2020

Question 1

A firm will maximise its profit if it produces and sells the level of output where
◦ marginal revenue equals marginal cost.
◦ average revenue equals marginal revenue.
◦ average revenue equals average cost.
◦ marginal revenue equals average cost.

Question 2

The following table shows costs and revenue schedules for a firm.

Quantity (units)AC (£)MC (£)AR (£)MR (£)
1003.203.003.003.00
2002.802.803.003.00
3002.843.003.003.00
4003.003.603.003.00
5004.006.003.003.00
6006.009.003.003.00
At what output will the firm maximise profit?
◦ 400
◦ 600
◦ 200
◦ 300
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by 09madisonrousseau09 on May 25, 2020

Alyson.hiatt@yahoo.com

  • Sr. Member
  • ****
  • Posts: 354
Reply #1 on: May 25, 2020
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


09madisonrousseau09

  • Member
  • Posts: 559
Reply 2 on: May 25, 2020
YES! Correct, THANKS for helping me on my review

marict

  • Member
  • Posts: 304
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Umberto Boccioni, Table + Bottle + House. Umberto Boccioni, Table + Bottle + House.
Sign on methanol pump shows that methyl alcohol is a poison and can cause skin irritation and other ... Sign on methanol pump shows that methyl alcohol is a poison and can cause skin irritation and other ...
Checklist for Choosing a Massage Table Checklist for Choosing a Massage Table
Because the factor h on the right side of the Heisenberg uncertainty principle has units of ... Because the factor h on the right side of the Heisenberg uncertainty principle has units of ...
Identify the variable representing each described quantity in the equation Identify the variable representing each described quantity in the equation
The periodic table and its creator, Dmitry Mendeleyev. The periodic table and its creator, Dmitry Mendeleyev.
Video: Sickle Cell Anemia

For a complete list of videos, visit our video library