--%>

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?

   Related Questions in Microeconomics

  • Q : Production and Value The People who

    The People who work in financial markets are least probable to make value by being productive via alteration of the: (i) Time when the materials are accessible. (ii) Place of materials. (iii) Form of materials. (iv) Possession or ownership of the materials.

  • Q : Problem regarding Wage Discrimination I

    I have a problem in economics on Problem regarding Wage Discrimination. Please help me in the following question. The economic term applied if equally productive workers are paid various wages is: (i) Wage discrimination. (ii) Racism. (iii) Employment

  • Q : Illustration of long-run adjustment in

    A rising market demand for generic puffy cheese chips produces economic profits and makes a new firm to build a vast modern factory to bake puffy cheese chips. It is an illustration of: (i) monopoly power. (ii) adjustments in the mark

  • Q : Diminishing in demand problem When the

    When the equilibrium in the figure shown below move from point a to point b, a reduction in demand is experienced merely in the market illustrated in: (1) Panel A. (2) Panel B. (3) Panel C. (4) Panel D.

    Q : Bilateral Monopoly problem I have a

    I have a problem in economics on Bilateral Monopoly problem. Please help me in the following question. The bilateral monopoly is in operation when: (1) The firm is mere employer of some labor force and a union is the mere supplier of the labor for tha

  • Q : Asymmetric Information on quality The

    The Asymmetric information on quality can outcome in: (i) Not all potential profits from the exchange being realized. (ii) Lower equilibrium prices. (iii) Purchases of unexpectedly low-quality items termed as ‘lemons’. (iv) Some transactio

  • Q : Compute rate of return on interest rate

    When the rate of return you compute onto an asset exceeds the interest rate: (w) its present value exceeds its price. (x) the market is within long term equilibrium. (y) you should avoid buying the asset. (z) the price must fall quick

  • Q : Economoic the setting of a price

    the setting of a price ceiling below the equililbrium level will

  • Q : Typical purely competitive firm in

    The typical purely competitive firm: (w) is both a price maker and a quantity adjuster. (x) operates within the inelastic range of the demand curve. (y) should decide how much to produce at prices set through the market. (z) tries to maximize total sa

  • Q : Needs a goal of maximizing by

    The long run survival of a purely-competitive firm needs a goal of maximizing: (i) managerial salaries. (ii) total costs. (iii) economic profits. (iv) total revenue. (v) fixed costs to minimize variable costs. How