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I Do Not Understand My Economics Quiz

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#623389 | Sun - Oct 25 2009 - 21:39:39

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Let's assume that the market for kayak rentals is perfectly competitive. This means that no kayak store has substantial market share and that each store offers the same kayaks. An entrepreneur can open a kayak store without worrying about government regulations (that is, there's free entry), and an existing owner can exit the market easily as well (that is, there's free exit).

The graph below shows the industry supply and demand curves for the perfectly competitive market for kayaks near the ballpark. When fans first found out about Bonds' absence back in March, the beginning of the baseball season, their demand for kayaks decreased. S1 is the initial supply curve.

Suppose that the graph below shows the marginal cost (MC) and average total cost (ATC) curves for a typical perfectly competitive kayak store.

When Bonds was playing (before his injury), how much profit was the typical kayak rental store earning?
A. $20

B. $10

C. $16

D. $0

#623390 | Sun - Oct 25 2009 - 21:40:57

smoked

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i see no graphs to help with said question

#623393 | Sun - Oct 25 2009 - 21:46:10

Zodijackyl

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the graphs have so many unnecessary lines in various ugly shades that they look like golf panties

#623401 | Sun - Oct 25 2009 - 22:07:23

___

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nothing in the question has any dollar amounts in it

but the answer is a dollar amount

???????????????????????????????????????????????

#623402 | Sun - Oct 25 2009 - 22:07:43

smoked

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Quote (___ @ Sun - Oct 25 2009 - 23:07:23)

nothing in the question has any dollar amounts in it

but the answer is a dollar amount

???????????????????????????????????????????????

hence the graphs that are missing

#623405 | Sun - Oct 25 2009 - 22:17:58

randomtask

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whats not to get

#623406 | Sun - Oct 25 2009 - 22:39:31

lobb

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the graph seems essential if you want us to help you

#623410 | Sun - Oct 25 2009 - 23:04:53

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ill go with C

#623411 | Sun - Oct 25 2009 - 23:08:32

blind_chief

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so chick a gives head only, chick b does anal, and chick c only likes missionary

HOW MUCH DOES CHICK A CHARGE FOR REVERSE COWGIRL?

#623412 | Sun - Oct 25 2009 - 23:09:07

MoS.

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COOL STORY BRO

#623414 | Sun - Oct 25 2009 - 23:18:06

Zodijackyl

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Quote (blind_chief @ Sun - Oct 25 2009 - 23:08:32)

so chick a gives head only, chick b does anal, and chick c only likes missionary

HOW MUCH DOES CHICK A CHARGE FOR REVERSE COWGIRL?

is she on a kayak while barry bonds is injured?

#623415 | Sun - Oct 25 2009 - 23:20:43

StQ

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Quote (Zodijackyl @ Sun - Oct 25 2009 - 23:18:06)

Quote (blind_chief @ Sun - Oct 25 2009 - 23:08:32)

so chick a gives head only, chick b does anal, and chick c only likes missionary

HOW MUCH DOES CHICK A CHARGE FOR REVERSE COWGIRL?

is she on a kayak while barry bonds is injured?

which day of the week is it again?

#623420 | Sun - Oct 25 2009 - 23:39:11

___

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Quote (StQ @ Mon - Oct 26 2009 - 00:20:43)

Quote (Zodijackyl @ Sun - Oct 25 2009 - 23:18:06)

Quote (blind_chief @ Sun - Oct 25 2009 - 23:08:32)

so chick a gives head only, chick b does anal, and chick c only likes missionary

HOW MUCH DOES CHICK A CHARGE FOR REVERSE COWGIRL?

is she on a kayak while barry bonds is injured?

which day of the week is it again?

a perfectly competitive day

#623427 | Mon - Oct 26 2009 - 00:06:13

blind_chief

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Quote (___ @ Sun - Oct 25 2009 - 21:39:11)

Quote (StQ @ Mon - Oct 26 2009 - 00:20:43)

Quote (Zodijackyl @ Sun - Oct 25 2009 - 23:18:06)

Quote (blind_chief @ Sun - Oct 25 2009 - 23:08:32)

so chick a gives head only, chick b does anal, and chick c only likes missionary

HOW MUCH DOES CHICK A CHARGE FOR REVERSE COWGIRL?

is she on a kayak while barry bonds is injured?

which day of the week is it again?

a perfectly competitive day

i enjoyed this reply

#623497 | Mon - Oct 26 2009 - 05:48:27

HCL

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its where the fucking supply and demand curves intersect

#623540 | Mon - Oct 26 2009 - 11:18:42

Raffles

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buy low sell high

thank you runescape

#623683 | Mon - Oct 26 2009 - 17:21:13

HCL

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Quote (Raffles @ Mon - Oct 26 2009 - 11:18:42)

buy low sell high

thank you runescape

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