Business, 30.03.2020 15:33, thicklooney
A firm sells a product in a perfectly competitive market. The marginal cost of the product at the current output level of 200 units is $4. The minimum possible average variable cost is $3.50. The market price of the product is $3. To maximize profits or minimize losses, the firm should .
Multiple Choice
a) continue producing 200 units.
b) decrease production to less than 200 units.
c) increase production to more than 200 units.
d) shut down.
Answers: 3
Business, 22.06.2019 16:00, knownperson233
In macroeconomics, to study the aggregate means to study blank
Answers: 1
Business, 22.06.2019 19:00, 3peak101
Andy purchases only two goods, apples (a) and kumquats (k). he has an income of $125 and can buy apples at $5 per pound and kumquats at $5 per pound. his utility function is u(a, k) = 6a + 2k. what is his marginal utility for apples and his marginal utility for kumquats? andy's marginal utility for apples (mu subscript a) is mu subscript aequals 6 and his marginal utility for kumquats (mu subscript k) is
Answers: 2
Business, 22.06.2019 22:00, tannercarr3441
As a general rule, when accountants calculate profit they account for explicit costs but usually ignorea. certain outlays of money by the firm. b. implicit costs. c. operating costs. d. fixed costs.
Answers: 2
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