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

Author Question: Under perfect competition a firm will increase output if (Read 27 times)

altibaby

  • Hero Member
  • *****
  • Posts: 562
on: May 25, 2020

Question 1

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
How much total profit will the firm make at the profit-maximising level of output?
◦ £40
◦ £48
◦ £0
◦ £16

Question 2

Under perfect competition a firm will increase output if
◦ marginal revenue equals average revenue
◦ marginal cost is less than price.
◦ marginal cost equals marginal revenue.
◦ price exceeds marginal revenue.
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 altibaby on May 25, 2020

adf223

  • Sr. Member
  • ****
  • Posts: 304
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 32% of students answer this correctly


altibaby

  • Member
  • Posts: 562
Reply 2 on: May 25, 2020
Thanks for the timely response, appreciate it

Liamb2179

  • Member
  • Posts: 365
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

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

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

China’s 8% annual increase in oil consumption China’s 8% annual increase in oil consumption
(a) Male competition can be fierce. (b) This male baboon has bite wounds suffered in competition wit (a) Male competition can be fierce. (b) This male baboon has bite wounds suffered in competition wit
Risk of Stroke and Heart Disease Increase with Increasing Blood Pressure Risk of Stroke and Heart Disease Increase with Increasing Blood Pressure
Increase in Obesity among U.S. Children and Adolescents Increase in Obesity among U.S. Children and Adolescents
The surface temperature of the star is 6000 K. At what wavelength is its light output a maximum The surface temperature of the star is 6000 K. At what wavelength is its light output a maximum
Increase in total spending in presidential campaigns, 1976-2020 Increase in total spending in presidential campaigns, 1976-2020
Video: Types of Transport - Uniport, Antiport and Symport (Glucose and Na+K+ Transporters)

For a complete list of videos, visit our video library