A Bottle Is Half-Filled with a Mixture of 25% Liquid

question 92

Essay

A bottle is half-filled with a mixture of 25% liquid heptane and 75% liquid octane (mole fractions) at 25°C. What is the mole ratio of heptane to octane in the space above the liquid compared to in the liquid? The vapor pressures are 31 torr for heptane and 11 torr for octane.

Analyze the impact of input cost changes on a firm's output and profit-maximizing decision in a perfectly competitive market.

Comprehend the shutdown decision and its restatement in terms of producer surplus.

Calculate and interpret producer surplus from given market conditions.

Understand the relationship between marginal cost, average variable cost, fixed costs, and their implications for short-run supply curves.

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