Refer to the data provided in Table 9.4 below to answer the question(s) that follow.
Table 9.4qTFCTVCTCMCAVCATC0$100 $0$100 ---- -- 11004014040 40 140 21006016020 30 80 31009019030 30 63.334100124 224 343156 5100180 280 56 36 56 6100 264 364 84 44 60.677100 372 472 108 53.14 67.42Refer to Table 9.4. If the market price is $56 and the firm produces 5 units of output, then its profit would be
A. -$100.
B. -$88.
C. $0.
D. $36.
Answer: C
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Refer to Figure 4-4. What is the value of consumer surplus at a price of $18?
A) $60 B) $120 C) $180 D) $240
After World War II the average U.S. recession has lasted: a. a few months
b. about half a year. c. a little less than a year. d. about three weeks. e. about two years.
Natural monopolies often arise in industries where the marginal cost of adding an additional customer is high
a. True b. False Indicate whether the statement is true or false
When prices rise, consumers and businesses hold larger money balances. This reduces the supply of loanable funds, increases the interest rate, and discourages both consumption and investment. This process is called the
a. interest rate effect. b. real balance effect. c. investment effect. d. disinvestment effect.