The figure above shows the marginal revenue and costs of a perfectly competitive firm. When 170 units are produced, the
A) firm has total revenue of $2,720.
B) firm's total costs are less than $2,720.
C) firm is making an economic profit.
D) All of the above are true.
D
Economics
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Refer to the labor market diagrams. The case of bilateral monopoly is represented by Figure:
A. 5.
B. 4.
C. 2.
D. 1.
Economics
Always Round Tire finds the following cross elasticity:(a) Demand for tires/price of batteries = 0.45.(b) Demand for tires/price of brake jobs = ?0.70.(c) Demand for tires/price of an oil change = 0.002.Discuss how the pricing of batteries, brakes, and oil changes will affect the sales of tires.
What will be an ideal response?
Economics