In the above figure, at the profit-maximizing rate of production for the perfectly competitive firm average total cost is
A) $10.
B) $3.
C) $7.
D) $70.
C
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According to the text, in the century prior to the Revolution, ____________ were a "strategic factor in the overall economic advance of the colonies."
a. advances in technology b. advances in manufacturing c. advances in farm equipment d. advances in shipping
There are 30 firms in an industry. What happens to that industry's four-firm concentration when the third- and fourth-largest firms merge?
A) Nothing, because their shares are already included in the concentration calculation.
B) The industry's concentration ratio will fall.
C) The industry's concentration ratio will increase.
D) It is impossible to know without more information.
Exhibit 30-3 Costs of Eliminating:Firm A Firm B Firm C 1st ton of pollution$ 30 $ 50 $ 600 2nd ton of pollution$ 70 $ 90 $ 700 3rd ton of pollution$125 $150 $ 900 4th ton of pollution$200 $250 $1,300 Refer to Exhibit 30-3. Suppose that Firms A, B, and C are the only polluters in the state and that each emits 4 tons of pollution into the atmosphere. To cut the level of pollution in half, the government mandates system whereby each firm must reduce its pollution level by one-half. The total cost of complying with the mandate is
A. $433. B. $1,540. C. $2,750. D. $8,570. E. $11,650.
To say that money serves as a store of value is to say that money is a useful way to store wealth for future use
a. True b. False Indicate whether the statement is true or false