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An example of a barrier to entry is

What is the area that represents the total revenue made by the firm?

Assume that price is greater than average variable cost. If a perfectly competitive seller is producing at an output where price is $11 and the marginal cost is $14.54, then to maximize profits the firm should

EXTRA CREDIT Consider a typical firm in a perfectly competitive industry that makes short-run profits. Which of the diagrams in the figure shows the effect on the industry as it transitions to a long-run equilibrium?

In the long run which of the following is true? 

The figure above shows cost and demand curves for a monopolistically competitive producer of iced tea. What is the profit-maximizing output level? What is the profit-maximizing price? At the profit-maximizing output level, how much profit will be realized? Does this graph most likely represent the long run or the short run? Why?

Which of the following variables will not cause the market supply curve of labor to shift?

Given the electronegativities below, which of the following covalent single bonds is the most polar? Element: H C N O Electronegativity 2.1 2.5 3.0 3.5

Submit as Question 15 on Crowdmark I want to enclose a rectangular garden that is feet by feet and has area . I will use wooden fencing on three side and metal fencing on one side, as shown in the figure below. The wooden fencing costs per foot, and the metal fencing costs per foot. For all parts, make sure to clearly label your final answers so that they are easy to find on the page. You do not need to simplify your answers. (A) Write an expression for the total cost, , in terms of and .   (B) Rewrite the cost in terms of only , and find the domain of .   (C) Find the dimensions, and , of the garden with the lowest cost. Justify that this gives the absolute minimum cost using the first derivative test or the second derivative test.

Submit as Question 13 on Crowdmark Consider the function on the interval   (A) Using sigma notation, write the Riemann sum , the right endpoint approximation for