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The figure below depicts average total cost functions for a firm that produces automobiles. The curves ATCA, ATCB, ATCC, and ATCD represent short run average total cost curves associated with different levels of capital. The lower envelope of those curves represents the firm’s long-run average total cost curve. The firm experiences increasing returns to scale at which output levels?

In the diagram below, the vertical distance between A and B represents a tax imposed in the market. The amount of deadweight loss as a result of the tax is

The total cost (TC) of producing e-cigarettes (Q) is TC = 900 + 7Q. Which of the following is an expression for average fixed cost?

Suppose a competitive industry consists of many identical firms, each of which has the following cost curves. If the price is $3.5 in the short run, what will happen in the long run?

What is the deadweight loss at the free market equilibrium?

Suppose the price elasticity of demand is 1.2 in absolute value. If the price of the good decreases, what will happen to sellers’ total revenue? Explain your answer? You may EITHER write out your answer in the field below OR submit a photo / pdf.

Which short story was about a 19-year-old boy and three girls in bikinis?

The witches foretell Macbeth that he will be king.  What do they predict for Banquo?

What is another name for the witches in Macbeth?

Which story was about a crazy woman who slept with a dead body?