Suppose a firms output is small relative to the size of its, Microeconomics

Suppose a firms output is small relative to the size of its

Problem

1. Suppose that the manager of a donut shop tells you that he sold 220 donuts today, for a total revenue of $220 and average revenue of $0.90. What's wrong with this story?

2. Suppose a firm's output is small relative to the size of its market. Explain why this means the firm's marginal revenue will be equal to the market price.

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Suppose a firms output is small relative to the size of its

Reference No:- TGS02714904

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

Review symptom onset and exposure to water

Physicians should review the presenting symptom onset and exposure to water (e.g., swimming) as well as any trauma to the canal and history of other skin condit

Problem regarding regulatory vs allocative health policies

Summarize the population (number, demographics, etc.) of uninsured people in the U.S. Discuss the socioeconomic consequences of having a large uninsured populat

Explain the specific socioeconomic, spiritual, lifestyle

Explain the specific socioeconomic, spiritual, lifestyle, and other cultural factors associated with the patient you were assigned. Be specific.

What benefit to barrier methods of birth control

Besides helping to prevent pregnancy, what is another great benefit to barrier methods of birth control, like condoms and dental dams?

What are the component of total fat in database nutritional

In database nutritional analysis, when validating nutritional data, what are the component of the total fat?

What makes the sources of errors in nutritional analysis

Question: What makes the sources of errors in nutritional analysis in database? Question options: Inaccurate recipe yield Processing losses/gains

What criteria for nutrient content claims on labels include

Question: Criteria for nutrient content claims on labels include: Question options: Conditions related to the food product and labelling requirement

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Suppose a firms output is small relative to the size of its

Reference No:- TGS02714904

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Suppose you run up a debt of 300 on a credit card that

Q : If your savings have been earning an annual interest rate

Q : What is the expected value of payouts from the

Q : Which of the characteristics of a competitive market is

Q : Suppose a firms output is small relative to the size of its

Q : Suppose a firm is operating in a competitive market and is

Q : In what ways are profit-maximizing and loss minimizing the

Q : What would you expect to happen to market supply if

Q : Describe what happens to the profit-maximizing output