The graph above shows the demand (D), marginal revenue (MR), marginal cost (MC), and average total cost (ATC) curves for one of many profit-maximizing firms operating in the short run in an industry in which there are no barriers to entry. Each firm sells a similar but not identical product. (a) What will happen to total revenue if the firm raises the price from $9 to $12? Explain.

(b) At 16 units, is the firm producing at the allocatively efficient quantity? Explain.

(c) If the firm produces 12 units, will the firm’s economic profit be positive, negative, or zero? Explain.

(d) Use the relationship between the marginal cost curve and the average total cost curve to explain why the average total cost curve is increasing at 20 units.

(e) Calculate the consumer surplus if the firm charges the profit-maximizing price. Show your work.

Question 4 which was a foundation of the industrial revolution? a) large states held huge supplies of raw materials. b) coal replaced wood as the primary source of fuel. c) road infrastructure replaced waterways for transport. d) mercantilist policies drove down the price of goods. question 7 which was not a government response to the socialist challenges? a) establishing universal suffrage to all classes b) introducing medical insurance and pensions c) prohibiting underground employment for women d) restricting child labor for children under ten years old question 9 which was a cause of the boer war? a) movement and settlement of bantu peoples into afrikaner-populated states b) independence of northern afrikaner territories from british colonial authority c) evacuation of most afrikaner people out of south africa and back into europe d) british reconstitution of afrikaner-held territories into the union of south africa

When you save, you earn interest on your savings and even earn interest in the previous years interest what is the name for this type of interest

As a business manager, roxanne often calls her employees' attention to their occasional mistakes while withholding praise for their many accomplishments. roxanne fails to take full advantage of a basic principle of