Zoe's bakery operates in a perfectly competitive industry. suppose that when the market price is $5, the profit-maximizing output level of pastries is 150 units, with average total cost of $4, and average variable cost of $3. from this we know zoe's marginal cost is and zoe's short-run profits are

a. $5; $300.
b. $1; $300.
c. $1; $150.
d. $5; $150.

Standardization is associated with which of the following management orientations? a) ethnocentric orientation b) polycentric orientation c) regiocentric orientation d) geocentric orientation

The demand curve determines equilibrium price in a market. is a graphical representation of the relationship between price and quantity demanded. depicts the relationship between production costs and output. is a graphical representation of the relationship between price and quantity supplied.

Dan mcclure is trying to decide on how many copies of a book to purchase at the start of the upcoming selling season for his bookstore. the book retails at $28.00. the publisher sells the book to dan for $20.00. dan will dispose of all the unsold copies of the book at 75 percent off the retail price, at the end of the season. dan estimates that demand for this book during the season is normal with a mean of 100 and a standard deviation of 42. a. how many books should dan order to maximize his expected profit? b. given the order quantity in part a, what is dan's expected profit? c. the publisher's variable cost per book is $7.50. given the order quantity in part a, what is the publisher's expected profit?