Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 13, 2024

When a firm's demand curve is tangent to its average total cost curve (on the downward sloping side), the firm must be earning economic profits.

When a firm's demand curve is tangent to its average total cost curve (on the downward sloping side),

the firm must be earning economic profits.

economic profits are zero.

the firm must be incurring economic losses.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

Managerial Economics And Financial Analysis

Authors: M.S. Bhat, A.V. Rau

1st Edition

9352300211, 978-9352300211

More Books

Students also viewed these Economics questions

Question

★★★★★

According to market research firm NPD Group, in 1985, women purchased 70 percent of all mens clothing; today, women buy just 34 percent of mens apparel. What implications does this have for modern...

Answered: 1 week ago

Question

★★★★★

Using the WVS dataset, I created a dichotomy of the ETHDIVORCE variable called ETHDIVORCE2CAT, where one category contained countries with lower acceptability of divorce, and the other category...

Answered: 1 week ago

Question

★★★★★

=+21. Walmart revenue. Each week about 100 million customersnearly one-third of the U.S. populationvisit one of Walmarts U.S. stores. How does Walmarts revenue relate to the state of the economy in...

Answered: 1 week ago

Question

★★★★★

A beam of protons travelling at 1.20 km/s enters a uniform magnetic field, travelling perpendicular to the field. The beam exits the magnetic field, leaving the field in a direction perpendicular to...

Answered: 1 week ago

Question

★★★★★

al calcular el cambio en las cuentas de impuestos diferidos cuyas tasas impositivas se utilizan a. gasto por impuesto corriente b. Tasas de impuestos de aos anteriores C. tasas impositivas futuras...

Answered: 1 week ago

Question

★★★★★

This problem is based on the JA Tires data that was first introduced in problem 6-35. If you have not already accessed the data, it can be downloaded from the textbook website. As part of risk...

Answered: 1 week ago

Question

★★★★★

Which ratios might you consider to be the most important to calculate?Why did you choose these particular ratios?

Answered: 1 week ago

Question

★★★★★

Calculate the power delivered by the turbine per unit mass of airflow when the heat transfer in the heat exchanger is zero. Then, how does the power depend on the heat transfer through the exchanger...

Answered: 1 week ago

Question

★★★★★

Using the information in the following table, calculate the marginal revenue product (MRP = MPP MR). Unit of Resources Total Resource Output Price Price 1 10 $5 $10 2 25 $5 $10 345 35 $5 $10 40 $5...

Answered: 1 week ago

Question

★★★★★

Which country has the absolute advantage in computer production? Use the following table: Amount of Beef or Computers Produced by One Worker in a Day Canada Beef Computers Japan 8 5 3 4

Answered: 1 week ago

Question

★★★★★

Which country has the comparative advantage in computer production? Use the following table: Amount of Beef or Computers Produced by One Worker in a Day Canada Beef Computers Japan 8 5 3 4

Answered: 1 week ago

Question

★★★★★

A metal sphere is grounded and an electrically charged rod is held close to it. The sphere acquires a charge $q$. The grounding wire is removed, and the sphere is brought in contact with another...

Answered: 1 week ago

Question

★★★★★

1. Should P&G proceed with the German launch on the basis of the test results? 2. Should Vizir be launched as a Eurohrand? 3. What implications does this decision have for the organization? For your...

Answered: 1 week ago

Question

★★★★★

4. What is the meaning of this statement, we should always demarcate a problem in accordance with our objectives, or with what we are trying to understand? a) Give at least three examples that shed...

Answered: 1 week ago

Question

★★★★★

3. Discuss the following statements: a) The way in which a problem is structured provides many of the premises for the actual solution. b) Our assumptions about the demarcation of a problem will...

Answered: 1 week ago

Question

★★★★★

1. Discuss the following statements: a) When the cause is identified, the effect has always occurred already. b) Predictions made with hindsight are almost always correct.

Answered: 1 week ago

Previous Question Next Question