Profit-maximizing lumber on the average

On the average, that profit-maximizing lumber mill as in demonstrated graph is: (w) making an economic profit of regarding $0.20 (20¢) per 2×4. (x) incurring variable costs of $0.90 (90¢) per 2×4. (y) suffering an accounting loss of $0.90 (90¢) per 2×4. (z) operating at an economic profit of $1 per 2×4.

1721_Profit Maximization.png

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

View Complete Question

Related Questions in Microeconomics

Q : Rates of Return below Investment When,

When, relative to most another forms of business, farm incomes are tiny in comparison to farmers’ net wealth, in that case: (w) rates of return in agriculture are below those from other investments. (x) agriculture generates pos

Q : What is Imperfect data Imperfect data :

Imperfect data: Most studies start with imperfect data. Few datasets involve the entire population of interest. Typically, the data has been gathered by others for specific purposes, and as such may have built in b

Q : GDP In calculating the GDP national

In calculating the GDP national income accountants

Q : Definitions of Poverty by Researchers

Some researchers have attempted to define poverty: (1) as the lowest 20% of the income distribution. (2) through estimates of the fundamental needs for families having various characteristics. (3) by estimating the costs of the minimum caloric intake

Q : When market for a good is in equilibrium

Whenever the market for the good is in equilibrium, this signifies that the: (i) Demand and supply are equivalent. (ii) Tax wedge is perfectly offset by the government advantages. (iii) Differences among demand prices and supply prices equivalent profit per unit. (iv)

Q : Question on economic cost Select the

Select the right answer of the question. Which of the following is not an economic cost? A) wages. B) rents. C) economic profits. D) normal profits.

Q : Selling price by price elasticity of

At the point upon the demand curve for Silver Screen Classic DVDs, here the price elasticity of demand is unitary, the price would be approximately: (i) $10, resulting in roughly 8 million DVDs being sold. (ii) $13, resulting in appro

Q : Strategy of lowering then high price in

Juan, Celia, Cassie and Gupta operated rival gas stations at 4 corners of an intersection. Every one originally charged similar price for their gasoline but after Gupta slashed his prices, Juan and Celia as well as Cassie all shut down. Gupta in that case boosted pric

Q : Vietnam divided into two different

Why Vietnam divided into two different nations?

Q : Perfectly inelastic supply of labor

Glynn’s supply of labor is perfectly inelastic at: (1) point a. (2) point b. (3) point c. (4) point d. (5) point e. 2</span></p>
</div>

</li>

</td>
</tr>
</table>

</ul>

</div>
</div>
<div class=

Discover Q & A

Leading Solution Library

Avail More Than 1425212 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1932990
Asked

3,689

Active Tutors

1425212

Questions
Answered

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

Submit Assignment