If MC's Hammers, a Perfectly Competitive Firm, Finds That Its

question 127

Multiple Choice

If MC's Hammers, a perfectly competitive firm, finds that its total revenue is $45, 000, its fixed cost is $20, 000, and its total cost is $50, 000, its producer surplus is

• A)zero because TC > TR
• B)-$5, 000
• C)$25, 000
• D)$15, 000
• E)-$25, 000

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Definitions:

Time Constant

The amount of time required for the current flow through an inductor or for the voltage applied to a capacitor to reach 63.2% of its total value.

Induced Voltage

Voltage generated in a conductor or coil due to a change in magnetic flux, according to Faraday's law of electromagnetic induction.

Eddy Current

Circular induced current contrary to the main currents. Eddy currents are a source of heat and power loss in magnetically operated devices.

Hysteresis

The phenomenon in which the state of a material lags behind changes in the effect causing it, such as the lagging of magnetic flux density behind the magnetizing force.