Maximizes profit at total economic of profit or loss

When the wholesale price P = $8 per bushel of peaches, it purely competitive peach orchard maximizes profit via producing ___ bushel of peaches at a total economic of profit or loss of $___. (i) zero; loss; -$4,000. (ii) 3000; loss; -$3,000. (iii) 3000; profit; $3,000. (iv) 4000; profit; $9,000. (v) 4000; profit; $4,000.

174_Profits and Losses1.png

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

View Complete Question

Related Questions in Microeconomics

Q : Oligopolistic nature of industries The

The oligopolistic nature of several industries is probably to be attributable to: (1) overly expansionary macroeconomic policies. (2) corporate instability. (3) economies of scale. (4) cooperative gaming. (5) unstable Nash equilibrium.

Q : Entry and exit of purely competitive

Pure competition is described by freedom of entry and exit by firms which are: (i) price discriminators and quality adjusters. (ii) price takers and quantity adjusters. (iii) owned and operated by entrepreneurs. (iv) arbitrators and p

Q : Compute price elasticity At price of

At price of Rs. 20 the unit quantity demanded is 300 units. Its price downs by 10% its quantity demanded rises by 60 units. Compute price elasticity. Answer: <

Q : Problem on Market clearing price The

The Equilibrium in a market needs the attainment of a: (1) Balancing act passed by the Congress. (2) Supply price for each and every possible quantity. (3) Demand quantity for each and every possible price. (4) Market clearing price.

Q : Characteristics of pure monopoly This

This is untrue that a firm which is a pure monopoly: (1) commonly engages in extensive advertising to differentiate its products. (2) produces a level of output which is closer to socially optimal when this price discriminates. (3) is the sole produce

Q : Transfer payment by excesses income A

A person’s wage income into excess of which that would be received by accepting the next best optional use of his or her talents is: (1) an economic rent. (2) a transfer payment. (3) an interest premium. (4) a salary bonus. (5) nominal wages.

Q : Estimate elasticity of supply When a 20

When a 20 percent price hike causes quantity supplied to develop 50 percent, elasticity of supply is just about: (w) 5/2. (x) 2/5. (y) 2. (z) 1/2. Please choose the right answer from above...I want your suggestion

Q : Reasons for shifting demand curve

Probable reasons for this shift of demand curve from D0 to D1 would not comprise: (1) lowering the lowest age for a driver’s license. (2) Reduces in the prices of ski boats. (3) Raised prices for airline tickets. (4) Decrease in the relative price of gasoline. (

Q : Normative goals of microeconomics

Normative goals of microeconomics comprise: (w) economic growth. (x) price-level stability. (y) high employment. (z) equity within the distribution of income. Please friends choose one choice from the above. I want your suggestion

Q : Price inelasticity of supply The price

The price elasticity of supply is zero therefore supply is perfectly price inelastic within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D.

Discover Q & A

Leading Solution Library

Avail More Than 1460820 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1931684
Asked

3,689

Active Tutors

1460820

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment