Suppose Al, Betty, and Carl own the only fishing companies in your village. Suppose the market price today is $10 per fish. Suppose Al catches 4,000 fish with an average total cost of $7.50, Betty catches 6,000 fish with an average total cost of $6, and Carl catches 10,000 fish with an average total cost of $5 . What is the average profit per fish in the village today?
a. $2.40
b. $4.20
c. $3.80
d. $2
e. $5
B
Economics
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The key difference between the real exchange rate and the market exchange rate is that the market exchange rate controls for the level of prices
Indicate whether the statement is true or false
Economics
To be effective, the minimum wage must be set ________ the market-clearing wage, and this will result in a ________ of labor
A) above; surplus B) above; shortage C) below; surplus D) below; shortage
Economics