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Author Question: Effect of Changes in Fixed CostsLiban's Lemons sells in a perfectly competitive market. Output per ... (Read 419 times)

Gabby

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on: Nov 23, 2022
Effect of Changes in Fixed Costs

Liban's Lemons sells in a perfectly competitive market. Output per day (in pounds of lemons) and total cost is displayed in the table.

Output per dayTotal Cost
0$1.40​
1$3.05​
2$4.20​
3$5.85​
4$7.70​
5$10.25​
Assume that the company maximizes profit by producing 4 pounds of lemons a day. What is the market price?
If fixed costs increase to $2.15, profit-maximizing output will ________ (increase/decrease/stay the same).
◦ $7.70, decrease
◦ $1.85, decrease
◦ $7.70, increase
◦ $1.85, stay the same
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by Gabby on Nov 23, 2022

heathercab

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Reply #1 on: Nov 23, 2022
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.
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Gabby

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Reply 2 on: Nov 23, 2022
YES! Correct, THANKS for helping me on my review

momolu

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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