Multiple Choice
A firm is producing 10,000 units of output.Price at this output level is $16.00 for each unit,and marginal revenue is $13.00.Average per unit cost is $12.00,and marginal cost is $12.50.From this information,we can conclude that the business
A) enjoys economies of scale.
B) is maximizing profit at this level.
C) should produce less.
D) should produce more.
Correct Answer:
Verified
Correct Answer:
Verified
Q102: If your production technology exhibits constant returns
Q103: Christine has purchased five bananas and is
Q104: A fifth-grade entrepreneur decides to sell playground
Q105: It costs your company $200 to produce
Q106: A monopolistic firm (price searcher)will set price<br>A)in
Q108: If you are an auctioneer in a
Q109: The Burrito Barn is considering a price
Q110: If promotional expenditures make demand…<br>A)More elastic,then you
Q111: You take a position with a large
Q112: When are collusions least likely to occur?<br>A)Oral