If the marginal revenue curve of a perfectly competitive firm lies below the minimum point on its average variable cost curve, the firm is realizing

Use the following scenario to answer the next three questions. Tami owns a sewing machine store. Her total costs are $370,000 per year, her variable costs are $250,000, and her fixed costs are $120,000 per year. Last year, Tami sold 800 sewing machines. Tami’s average total cost was __________ per sewing machine.

Karolina owns a small diner, where she works full time in the kitchen. Her total revenue last year was $100,000, and her rent was $3,000 per month. She pays her one employee $2,000 per month, and the cost of ingredients averages $1,000 per month. Karolina could earn $50,000 per year as the manager of a competing diner nearby. Her economic profit last year was

Refer to the accompanying graph to answer the next eight questions. The socially optimal price and quantity would be ________.

Which activity will most likely result in the creation of a positive externality?

Copyright laws exist to

Refer to the accompanying graph to answer the next eight questions. At the market equilibrium, price is equal to ________, and ________ units of the good are produced.

A bacteria culture starts with 880 bacteria and grows at a rate proportional to its size.  After 3 hours there will be 2640 bacteria. a. Express the population P after t hours as a function of t.  Be sure to keep at least 4 significant figures on teh growth rate.  P(t) = b. What will be the population after 7 hours?c. How long will it take for the population to reach 2470? Give your answer accurate to at least 2 decimal places.   Enter your answer in Bb using the Math Editor.

Evaluate the following logarithm using your calculator.  Round your answer to three decimal places. a. log19b. ln35

a. Find the time it takes for $9000 to double when invested at an annual interest rate of 15%, compounded continuaously. b. Find the tiem it takes for $900,000 ti double when invested at an interest rate of 15% compounded continuously.