Economics multiple choice compute output increase profit

Assignment Help Business Management
Reference no: EM13368650

Economics Multiple Choice; Compute output; increase profit; marginal revenue

T-Shirt Enterprises is selling in a purely competitive market. It is producing 3,000 units, selling them for $2 each. At this level of output, the average total cost is $2.50 and the average variable cost is $2.20. Based on these data, the firm should
shut down in the short run.
decrease output to 2,500 units.
continue to produce 3,000 units.
increase output to 3,500 units.

If a purely competitive firm is producing at an output where marginal revenue exceeds marginal cost, the firm will increase its profit by
reducing production to the point where variable costs are minimized.
reducing production to the point where unit costs are minimized.
reducing its output and simultaneously increasing its price.
increasing its output.

In pure competition, each extra unit of output that a firm sells will yield a marginal revenue that is
equal to the price.
less than the price.
greater than the price.
equal to the average cost.

Reference no: EM13368650

Questions Cloud

Understand and interpret unhealthy conflicts in : understand and interpret unhealthy conflicts in teamsunderstand and interpret unhealthy conflicts in teams. look up and
Collective bargaining in the 1980sit could be argued that : collective bargaining in the 1980sit could be argued that there was nothing particularly unusual about the declines in
Verizon analysis of targeted work processesdescribe the : verizon analysis of targeted work processesdescribe the results of an assessment of the work processes and key
Question about antitrust behaviormicrosoft monopoly--why : question about antitrust behaviormicrosoft monopoly--why was microsoft investigated for antitrust behavior? was
Economics multiple choice compute output increase profit : economics multiple choice compute output increase profit marginal revenuet-shirt enterprises is selling in a purely
Barriers to implementation of lean managementwhat would be : barriers to implementation of lean managementwhat would be some barriers to implementation of lean management in an
Show and propose changes for a work team with problems : show and propose changes for a work team with problems breaking them apartfind a video clip or cartoon online depicting
Hotelresort managementat a recent executive board meeting : hotelresort managementat a recent executive board meeting the owners of your 300-room resort property were presented
Year career development plan explainedcareer goals and : year career development plan explainedcareer goals and objectivespossible promotional opportunities for career

Reviews

Write a Review

Business Management Questions & Answers

  Explain manufacture the product at home and set up

Explain Manufacture the product at home and set up a wholly owned subsidiary in Europe to handle marketing and sales

  Management and leadershiprecommend at least two strategies

management and leadershiprecommend at least two strategies that organizational managers and leaders can use to create

  Eliminate or minimize each of these anticipated challenges.

Examine two (2) approaches that the original company you selected has taken in order to embrace technological advancements for innovation and thus improve business offerings. Anticipate three (3) potential technological challenges the company ..

  Examining internal resources and value building

Discuss four basic perspectives  when examining internal resources and value building.

  Working collaboratively on a writing project

What are three significant points a group must keep in mind when working collaboratively on a writing projec

  Leadership lessons from book imagin-i-zation

What leadership lessons are implied in the following passage from the book, Imagin-i-zation.

  Examining enron''s business failure

Compare and contrast the contributions of leadership, management, and organizational structures to the organizational failure.

  Limitations of qualitative and quantitative research

What is the difference between qualitative and quantitative research? How are each useful? What are their limitations?

  Diversity in multinational organizations

How do you define diversity and show ways to develop a common definition of diversity within the organization.

  Calculate growth rate of real gdp

The general price index in 2005 was 100 and in 2006 it was 102 and between 2005 and 2006 real GDP rose by what percent?

  Managing risk and enhancing returns kraft foods examplein

managing risk and enhancing returns kraft foods examplein regards to kraft foods discuss the use of derivatives as a

  Show program evaluation and implementation

Why is it important to plan program evaluation before program implementation? What are some of the things that can be missed if this isn't done?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd