Question : 11) Suppose the price of a can was $5.10. In : 1238773

 

11) Suppose the price of a can was $5.10. In this case, to maximize its profit, the firm illustrated in the figure above would

A) decrease its production and would make an economic profit.

B) not change its production and would make zero economic profit.

C) not change its production and would make an economic profit.

D) decrease its production and would incur an economic loss.

E) not change its production and would incur an economic loss.

 

12) The firm in the figure above has a total cost equal to ________.

A) $5.10 × 10

B) $8.00 × 10

C) ($5.10 – $8.00) × 10

D) ($8.00 – $5.10) × 10

E) None of the above answers is correct because more information is needed.

 

13) The firm in the figure above has a total revenue equal to ________.

A) $5.10 × 10

B) $8.00 × 10

C) ($5.10 – $8.00) × 10

D) ($8.00 – $5.10) × 10

E) None of the above answers is correct because more information is needed.

14) The firm in the figure above is ________ that is equal to ________.

A) making an economic profit; $8.00 × 10

B) making an economic profit; $5.10 × 10

C) incurring an economic loss; $5.10 × 10

D) incurring an economic loss; ($8.00 – $5.10) × 10

E) making an economic profit; ($8.00 – $5.10) × 10

 

The above figure shows some a firm’s cost curves and its marginal revenue curve.

 

15) Based on the figure above, what is the price of a can?

A) $0

B) $3.00 per can

C) $5.15 per can

D) None of the above prices is correct.

E) More information is needed to determine the price of a can.

16) Based on the figure above, if the firm produces 7 cans per day, the firm ________ maximizing its profit and is ________.

A) is; incurring an economic loss

B) is; making zero economic profit

C) is; making an economic profit

D) is not; incurring an economic loss

E) is not; making zero economic profit

 

17) Suppose the price of a can was $5.14. In this case, to maximize its profit the firm illustrated in the figure above would

A) increase its production and would make an economic profit.

B) not change its production and would make zero economic profit.

C) not change its production and would make an economic profit.

D) increase its production and would incur an economic loss.

E) not change its production and would incur an economic loss.

 

18) The price for the shutdown point is ________.

A) $5.14

B) between $3.01 and $5.13

C) $3.00

D) between $0 and $2.99

E) greater than $5.15

19) The firm in the figure above has a total cost equal to ________.

A) $5.14 × 7

B) $3.00 × 7

C) ($5.14 – $3.00) × 7

D) ($3.00 – $5.14) × 7

E) None of the above answers is correct because more information is needed.

 

20) The firm in the figure above has a total revenue equal to ________.

A) $5.14 × 7

B) $3.00 × 7

C) ($5.14 – $3.00) × 7

D) ($3.00 – $5.14) × 7

E) None of the above answers is correct because more information is needed.

 

21) The firm in the figure above is ________ that is equal to ________.

A) making an economic profit; $5.14 × 7

B) making an economic profit; $3.00 × 7

C) incurring an economic loss; $5.14 × 7

D) incurring an economic loss; ($5.14 – $3.00) × 7

E) making an economic profit; ($5.14 – $3.00) × 7

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more