The figure illustrates the short-run costs of Paul's Picture Frames Inc The picture frame market is perfectly competitive and the market price is $30 a frame
Paul produces ________ frames each week, makes ________ of total revenue, and makes zero ________ profit. A) 200; $4,000; economic
B) 300; $9,000; normal
C) 200; $4,000; normal
D) 300; $9,000; economic
D
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Assume Joe invests a total of $10,000 in a company—$5,000 of which is his own money and $5,000 of which he borrowed at a 10 percent interest rate. If the company’s stock value increases by 20 percent in one year at which time Joe sells his shares of the stock, what is Joe’s rate of return on his investment?
A. 10 percent B. 15 percent C. 20 percent D. 30 percent
Frank owns an apple farm and plans to spend 4 hours today picking apples. The number of apples he can pick per hour depends on the total number of hours he spends working in either the east orchard or the west orchard in the manner shown in the accompanying table below.Hours in East OrchardNumber of Apples Per HourHours in West OrchardNumber of Apples Per Hour140110232210325310420410 What is the opportunity cost to Frank of spending an additional hour picking apples in the East orchard?
A. 40 apples B. 30 apples C. 20 apples D. 10 apples