Given the total cost and total revenue curves in the above figure, what are the output levels at which the perfect competitor will earn a positive economic profit?
A) from 0 to 30,000 bushels
B) from 0 to 60,000 bushels
C) between 30,000 and 80,000 bushels
D) over 80,000 bushels
C
Economics
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a. True b. False
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If a 10 percent rise in the price of bananas leads to a 20 percent reduction in the quantity of bananas demanded, then the price elasticity of demand is 0.50
a. True b. False
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