--%>
Assignment Help - homework help

Determine competitive price of purely competitive firm

In this demonstrated figure purely competitive lumber mill’s generic 2×4s now sell for: (1) $3.60 each. (2) $3.00 each. (3) $2.70 each. (4) $2.40 each. (5) $2.10 each.

1078_Profit Maximization.png

Can someone explain/help me with best solution about problem of Economics...

   Related Questions in Microeconomics

  • Q : Copyright laws for legal barriers to

    Copyright laws are least helpful in protecting the work of people who generate original: (i) lyrics and music. (ii) films. (iii) computer code. (iv) scientific theories. (v) poems or novels. How can I solve my Economics

  • Q : CAPM and Portfolio The information is

    The information is illustrated below: (a) Determine the expected return on Stock X?

    		•
  • Q : Meaning of utility For economists, the

    For economists, the term "utility" signifies: 1) versatility and flexibility 2) rationality 3) pleasure and satisfaction 4) purposefulness.

    		•
  • Q : Monopsonist-Wage discriminate Compared

    Compared with the price taker in labor market, the monopsonist which can’t wage discriminate will: (i) Hire more labor at any specified wage. (ii) Hire less labor at any wage. (iii) Pay a higher wage for any specified quantity of labor. (iv) Hire more prolific l

    		•
  • Q : Wealth distribution by income When line

    When line 0C0' shows the 2005 U.S. income distribution, in that case the line that would shows the 2005 wealth distribution would be probably line: (1) line 0A0'. (2) line 0B0'. (3) line 0C0'. (4) line 0D0'. (5) line 0E0'.

  • Q : Nominal wages If the nominal wages of

    If the nominal wages of carpenters rose by 5 percent in the year of 2000 and the price level increased by 3 percent, then the real wages of carpenters: A) decreased by 2 percent. B) increased by 2 percent. C) increased by 3 percent. D) increased by 8 percent.

    		•
  • Q : Problem regarding Substitution effect

    Can someone help me in finding out the right answer from the given options. John freshly learned that a hotdog-and-fries combo is accessible at a local mall for similar price as a slice of pizza at Gino’s, where he routinely ate lunch. He starts buying hotdogs m

    		•
  • Q : Long run economic profits for

    Long run economic profits for monopolistic competitors are prohibited by: (w) easy entry and exit. (x) the kinked demand curve. (y) barriers to entry. (z) diminishing marginal returns. Please choos

    		•
  • Q : High economic profits High economic

    High economic profits for firms are least probable to arise by: (1) important market power. (2) “cut-throat” competitive pricing policies. (3) superior products. (4) unusually efficient managers. (5) price-maker behavior.

    Q : Problem regarding Rational Ignorance

    Whenever decision makers select not to pursue further information as the expected reward for the searching for it does not surpass its expected cost, the outcome is: (1) Adverse choice. (2) Consumer exploitation. (3) Unintended effects. (4) Asymmetric information. (5)

    		•