One Morning, John Drove 6 Hours Before Stopping to Eat $\quad 33 \mathrm { mph }$

question 47

Multiple Choice

One morning, John drove 6 hours before stopping to eat.After lunch, he increased his speed by 10 mph. If he completed a 390-mile trip in 9 hours of driving time, how fast did he drive in the morning?

• A) \(\quad 33 \mathrm { mph }\)
• B) \(\quad 36 \mathrm { mph }\)
• C) \(\quad 48 \mathrm { mph }\)
• D) \(\quad 43 \mathrm { mph }\)
• E) \(\quad 40 \mathrm { mph }\)

Calculate the profit-maximizing level of output for firms in various competitive scenarios and determine the presence of economic profits or losses.

Interpret and analyze the behavior of firms under different cost conditions, including responses to changes in market prices.

Grasp the concept of marginal cost and its importance in a firm’s production and supply decisions.

Understand the relationship between economic profits, average total cost, and average variable cost in the short run.

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