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

Author Question: Effect of Changes in Fixed CostsLiban's Lemons sells in a perfectly competitive market. Output per ... (Read 397 times)

Gabby

  • Full Member
  • ***
  • Posts: 153
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Gabby on Nov 23, 2022

heathercab

  • Full Member
  • ***
  • Posts: 161
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.
Answer Preview
Only 42% of students answer this correctly


Gabby

  • Member
  • Posts: 153
Reply 2 on: Nov 23, 2022
YES! Correct, THANKS for helping me on my review

Hdosisshsbshs

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Sequential decline of whale catches in the Antarctic shows the strong effect of human predators. Sequential decline of whale catches in the Antarctic shows the strong effect of human predators.
A seashell vendor in Tanzania sells to tourists seashells which have been taken from the sea alive, A seashell vendor in Tanzania sells to tourists seashells which have been taken from the sea alive,
Thorndike’s Puzzle Box and the Law of Effect (2 of 2) Thorndike’s Puzzle Box and the Law of Effect (2 of 2)
When the exhaust is rich, the output of a zirconia oxygen sensor is above 450 mV. When the exhaust is rich, the output of a zirconia oxygen sensor is above 450 mV.
Effect of an Increase in R&D in the Follower Country on the Steady State Effect of an Increase in R&D in the Follower Country on the Steady State
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Video: DNA fingerprinting Animation

For a complete list of videos, visit our video library