Suppose that Mark sells fish in a perfectly competitive market. He can sell each fish for $5. Today he brought forty fish to the fish market. If his total variable cost is $110 and his total fixed cost is $50, he
A) will earn a normal profit.
B) has earned an economic profit.
C) should have stayed home.
D) should raise his asking price.
Correct Answer:
Verified
Q130: (Table) If the toy-making firm in
Q131: (Table) If the toy-making firm in
Q132: (Table) If the toy-making firm in
Q133: If a perfectly competitive firm is incurring
Q134: Suppose that Mark sells fish in a
Q136: If a perfectly competitive firm shuts down
Q137: When price is below the minimum point
Q138: Under what condition would perfectly competitive firms
Q139: Herbert Simon challenged the assumption that
A) consumers
Q140: Herbert Simon
A) was a neoclassical economist.
B) believed
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents