The Figure Shows the Demand Curve for Gap Jackets (D)

question 124

Multiple Choice

The figure shows the demand curve for Gap jackets (D) , and Gap's marginal revenue curve (MR) , marginal cost curve (MC) , and average total cost curve (ATC) .
-In the figure above, what is Gap's economic profit?

• A) zero
• B) $5,000
• C) -$5,000
• D) -$1,160

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Definitions:

Consensus Crimes

Illegal acts that nearly all people agree are bad and harm society greatly. The state inflicts severe punishment for consensus crimes.

Inuit Communities

Indigenous peoples living in the Arctic regions of Canada, Greenland, and Alaska, known for their rich cultural heritage and adaptations to cold environments.

Deviant Act

An action that deviates from the societal norms, which can be criminal or non-criminal but is considered outside the boundaries of acceptable behavior in a community.

Statistical Average

A measure representing the central or typical value in a set of data, calculated as the sum of all values divided by the number of values.