FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me understand this question. We have marginal cost $2 and Price is 2 . Which means P=MR. MR=MC . $2=$2. If AVC is

Please help me understand this question. We have marginal cost $2 and Price is 2 . Which means P=MR. MR=MC . $2=$2. If AVC is $1 , Price > AVC which means we are getting more revenue so we have to produce more . That's means Answer is B. Is it correct way to come with the an answer?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introductory Econometrics A Modern Approach

Introductory Econometrics A Modern Approach

Authors: Jeffrey Wooldridge

7th Edition

1337558869, 978-1337558860

More Books

Students also viewed these Economics questions

Question

★★★★★
The Manville Manufacturing Company has a cycle time of 1.5 days, uses a raw and in process (RIP) account, and charges all conversion costs to Cost of Goods Sold. At the end of each month, all...

Answered: 1 week ago

Question

★★★★★
Transaction data and journal entries for McCall Real Estate Agency are presented in E3.8 and E3.9. Instructions a. Post the transactions to T-accounts. b. Prepare a trial balance at October 31, 2022...

Answered: 1 week ago

Question

★★★★★
4. Promote the development of new knowledge and strategies when old strategies fall short. For example, if your goal is making an A and you dont reach that goal on your first quiz, you might try a...

Answered: 1 week ago

Question

★★★★★
You are the operations manager for American Airlines and you are considering a higher fare level for passengers in aisle seats. You want to estimate the percentage of passengers who now prefer aisle...

Answered: 1 week ago

Question

★★★★★
Create a simulation of a deck of cards and then use that deck to play a simple game in C++ . The card game should be a simple game of High Card Wins. You should create several classes to make this a...

Answered: 1 week ago

Question

★★★★★
E7-15 (Algo) Making Decisions involving Constrained Resource (LO 7-2, 7-7) Cordova manufactures three types of stained glass window, cleverly named Products A, B, and C Information about these...

Answered: 1 week ago

Question

★★★★★
QuestionIV (17 marks). (4) Determine the steady-state surface temperature of an electric cable, 25 cm in diameter, which is suspended horizontally in still air in which heat is dissipated by the...

Answered: 1 week ago

Question

★★★★★
1. How can you assess if you are engaging in ethical communication? 2. What experiences have you had with cross-cultural communications? Please share at least one experience when this has gone well...

Answered: 1 week ago

Question

★★★★★
Input values to the quiz 3.5 1.5 0.8 Solve the problem below and enter answers in first row above. Do NOT enter units or any other tex A simply supported beam carrying a triangular distributed load...

Answered: 1 week ago

Question

★★★★★
Consider a plate of 2.4 m x 3.0 m shown below. First, find the temperature distribution at the interior nodes using a square grid with a length of 0.1 m and a relative error of 1E-6 for the case in...

Answered: 1 week ago

Question

★★★★★
I. What is business analysis? and how it is helpful for organizations? II. What does enterprise content management involve? III. What is business process management? IV. Outline the key benefits of...

Answered: 1 week ago

Question

★★★★★
I like my current job. I do not want to change my job as I am happy." In the context of the resistance matrix, identify the resistance to change reflected in this statement. Multiple Choice facts...

Answered: 1 week ago

Question

★★★★★
7. How can the models we use have a detrimental effect on others?

Answered: 1 week ago

Question

★★★★★
2. In this chapter, the reader should reflect on the following concepts: Systemic structuring, the displaced error, the communicable part of knowl-edge, tacit knowledge, hidden knowledge, analogy,...

Answered: 1 week ago

Question

★★★★★
2. List five points that are crucial to pay attention to if you want to positively influence someone from a foreign culture.

Answered: 1 week ago

Previous Question Next Question