Solved

-The Figure Above Shows the Costs for a Grower in the Perfectly

Question 412

Multiple Choice

-The figure above shows the costs for a grower in the perfectly competitive turnip industry. If the price is $1,400 for a ton of turnips, the firm is A) making an economic profit. B) making zero economic profit. C) incurring an economic loss. D) More information is needed to determine if the firm is making a positive economic profit, zero economic profit, or incurring an economic loss.
-The figure above shows the costs for a grower in the perfectly competitive turnip industry. If the price is $1,400 for a ton of turnips, the firm is


A) making an economic profit.
B) making zero economic profit.
C) incurring an economic loss.
D) More information is needed to determine if the firm is making a positive economic profit, zero economic profit, or incurring an economic loss.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q407: In the long-run equilibrium, perfectly competitive firms

Q408: Bob's Lawn Care Services is a perfectly

Q409: The industry that produces zangs is in

Q410: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -Pete is a

Q411: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -Archibald's Tattoos is

Q413: The market for maple syrup is perfectly

Q414: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the above

Q415: Martha's Cleaning Services is a perfectly competitive

Q416: In a perfectly competitive industry, the demand

Q417: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The table above