Profit-maximizing Equilibrium

Under profit-maximizing equilibrium, which of the following will not be equal to the other three? a) the marginal revenue product of input X. b) The price of input X. c) the marginal cost of input X. d) the marginal product of input X. e) all will be equal.

Marginal Revenue - Demand Curves

Marginal Revenue becomes negative for a firm faced with a downward-sloping demand curve when: a) the demand price becomes negative b) the demand elasticity drops from elastic to inelastic c) total revenue is maximized d) the loss on previous units is at is maximum e) both b and c

#14 Long-Run Equilibrium - Competitive markets

in a competitive market with a downward sloping demand curve, a tax that increases the fixed cost of every firm will: a) reduce the number of firms supporting long run equilibrium b) increase the long-run equilibrium price. c) not cause the number of firms supporting long-run equilibrium to change d) answers a and b ...continues

Long-Run Equilibrium

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Shut-down, Profit maximizing, Zero-Profit Points

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Market Price

See attached file: If the market price increases to $15, the firm (described in the attached chart) will: a) shutdown b) earn economic profits c) produce more than 10 units of output d) produce less than 10 units of output e) both b and c are correct

Cost and Demand Curves

Please see attachments.

#36 Profit Maximization and Price

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#37 Production and Price in Competitive Industry

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Consumer surplus

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