Use the graph below to identify: (a) break-even points; (b) the profit-maximizing level of output; and, (c) letters showing largest difference between total revenue and total costs and the output level
What will be an ideal response?
The break-even points are a and f; (b) profit-maximizing level of output is at Q3; (c) the difference between letter e and letter d, which is at the profit-maximizing level of output Q3.
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Suppose automobile salesmen are required to pay a $1000 tax per car sold
Is it likely that the auto salesmen will bear the entire burden of this tax? Why or why not? Would it matter if the demanders were legally required to pay the tax? Explain in detail your answer.
Data presented in the text compare exports per capita in the early 1790s with exports per capita just prior to the Revolution. The data show that by the early 1790s, exports per capita had increased in _____________, but had decreased in ___________________
a. the Upper South; the Lower South b. the Upper South; New England c. New England; the Middle Atlantic states d. the Middle Atlantic states; the Upper and Lower South
Anna's Antiques expects to get two bidders for the unique china teacup it sells. Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability. If Anna receives $70 from the auction, she can infer that
a. Both the bidders were high value bidders b. Both the bidders were low value bidders c. One of the bidders was high value, while the other was low value d. All of the above
To complete company setup you must complete all of the following except:
a. Add customers b. Add payroll forms c. Add products and services as items d. Add vendors