given that this is zero economic profit, bud should continue operating. economic cost function, we...
Post on 19-Dec-2015
216 Views
Preview:
TRANSCRIPT
Given that this is zero economic profit, Bud should continue operating.
economic cost function, we can conclude that this is an economic profit.
P = 2.00
Q = 10,000
Q = 14,000
P = 16.80
Quantity demanded at the support price of $2.50 is:
QD = 1937.50707.5 bushels.
$1058.94 in consumer surplus.
Workers bear a greater burden of both the income and social security tax.
NEED 3 ANSWERS TO GET FULL CREDIT- Perfect information, particularly by buyers- Price takers- Homogeneous product- No barriers to entry- Large number of sellers
MR = MCT = MC1 = MC2
top related