Homework Answers
34) total revenue - total cost
35) marginal cost
36) -15000
Economic profit = 60000 - 75000= -15000
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Which best represents the equation for profits? o Total Revenue - Average cost o Total Revenue...
mark is a web developer making $75,000 a year working for a company called the Man....
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Profits will always be maximized when total revenue equals total cost =T or F If marginal...
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profit maximization occurs where a. marginal cost crosses marginal revenue b. marginal cost crosses average revenue...
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15. When marginal cost is less than average total cost, a. marginal cost must be falling....
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1. The graph below shows marginal cost, marginal revenue, and average total cost for a company...
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3. Profit maximization using total cost and total revenue curves
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D Question 10 0.5 pts The difference in cost between two alternatives is called O Variable...
D Question 10 0.5 pts The difference in cost between two alternatives is called O Variable Cost O Marginal Cost O Average Cost O Incremental Cost No new data to save. Last checked at 5:24pm Submit C Question 9 0.5 pts The life-cycle cost of new apartment complex begins when when and ends O the first tenant moves in...the building is sold to a new owner O construction starts...an occupancy permit is issued O an architect is retained...the first tenant...
QUESTION 6 The diagram below represents the short-run total cost function for the Fidget Company, which...
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When a competitive firm will produce and earn economic profits. marginal revenue = average total cost = marginal costs marginal revenue is above average costs marginal costs are decreasing marginal revenue is rising
When total the monopolist is maximizing profits or minimizing losses, is greater I A. average revenue than marginal cost B. average revenue is average total cost greater - than is less than C. average total cost marginal cost D. is total revenue total cost greater than
15. When marginal cost is less than average total cost, a. marginal cost must be falling. b. average variable cost must be falling. c. average total cost is falling. d. average total cost is rising. 16. Which of the following is not a characteristic of a competitive market? a. Buyers and sellers are price takers. b. Each firm sells a virtually identical product. c. Entry is limited d. Each firm chooses an output level that maximizes profits. 17. If a...
1. The graph below shows marginal cost, marginal revenue, and average total cost for a company operating in a perfectly competitive market. In the short-run, the company maximizes profit by producing at point E. Is the company productively efficient? Explain. 16 Marginal cost 14 12 10 Marginal Cost/Marginal Revenue ($) 8 6 E Average cost Marginal revenue 4 2 C' 0 0 20 40 100 120 140 60 80 Quantity
D Question 10 0.5 pts The difference in cost between two alternatives is called O Variable Cost O Marginal Cost O Average Cost O Incremental Cost No new data to save. Last checked at 5:24pm Submit C Question 9 0.5 pts The life-cycle cost of new apartment complex begins when when and ends O the first tenant moves in...the building is sold to a new owner O construction starts...an occupancy permit is issued O an architect is retained...the first tenant...
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