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Question
In the above figure, the break-even output and price is
A) $9 and 14.
B) $13 and 14.
C) $11 and 16.
D) $10 and 17.
Answer
This answer is hidden. It contains 1 characters.
Related questions
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Why should a perfect competitor produce at which price equals marginal cost?
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Suppose that during a given time period the implicit cost for a business was $1,500 and that the explicit cost was $6,000. Also suppose that the firm sold 1,000 units of its products at $7 per item. We can conclude that the firmʹsA) accounting profit was $1,000, and its economic profit was -$500. B) accounting and economic profits were both $1000.C) accounting profit was -$500, and economic profit was $1,000. D) accounting profit was $1000, and economic profit was -$1,500.
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Why?
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