Problem1 suppose that the manager of a donut shop tells you, Ask an Expert

Economics

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.

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92758088

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question need a short discussion board for the subjest

Question: Need a short discussion board for the subjest below. Assume your good (paper towels) has both a consumer and a business market. How will you market these, based on the different decision processes of each marke ...

Question define what is generally meant by the term law

Question: Define what is generally meant by the term law. Then give an example of a federal law by naming it and say which branch of government wrote the law. The response must be typed, single spaced, must be in times n ...

Question 1 draw a short run firm and industry competitive

Question: 1. Draw a short run firm and industry competitive equilibriums for a perfectly competitive gator farming industry before the number of alligators farms in Fl. doubled. For simplicity assume the gator farm is ea ...

Question discuss in scholarly detail differences between

Question: Discuss in scholarly detail differences between incremental and breakthrough innovation. What risks are associated with each approach? The response must be typed, single spaced, must be in times new roman font ...

Question you have been asked to calculate the current

Question: You have been asked to calculate the current balance on a loan that involves 5 equal mortgage payments of $200,000 per year (principal and interest), but the interest rate changed on the loan is variable. in ye ...

Question 1 public policy three outcomes problemrelevant

Question: 1. Public Policy three outcomes problem. Relevant data A. Present value of net benefits = $4,000,000 (probability = 0.85) B. Present value of net benefits = $ 1,000,000 (probability = 0.10) C. Present value of ...

Question given recent trends what are the near-term

Question: Given recent trends, what are the near-term prospects for the U.S. economy, and how simulative or restrictive do you expect economic policy (both monetary and fiscal) to be over (say) the next 12 months, and ho ...

Question as advances in technology make the

Question: As advances in technology make the self-registration of guests more easily achievable, some hotel companies have moved aggressively tom implement such technologies. Those who have not done so , however, point o ...

Question professor xavier is creating a budget for his

Question: Professor Xavier is creating a budget for his recently awarded 9-year research grant. His research requires machinery that has an initial cost of $49993. He will need to pay for maintenance on the machinery beg ...

Question the supply and demand functions for natural gas

Question: The supply and demand functions for natural gas from 1950 to 2007 are followings. Qs= 0,02 + 0,7Pg + 0,045Po + 0,06I Qd= 148,82 -1,8 Pg + 0,069Po + 0,05I Where Pg is the price of natural gas, Po is the price of ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert