Calculate the pH of 0.100 M NaCN. The Ka for HCN is 9.12 × 10−10.

Refer to the accompanying graph to answer the next three questions. If the firm is maximizing profits, profit is represented by the area

If a firm has total costs of $635,000 and its implicit costs are $240,000, how much are its explicit costs?

Raul owns and manages a men’s barbershop. He himself does not give haircuts. His total revenue last year was $400,000. Of that, his barbers got $210,000, and his rent was $6,000 per month. His other expenses totaled $1,000 per month. Raul could earn $55,000 per year cutting hair as a barber in someone else’s shop. His implicit costs last year were

It’s easy to determine if a firm is making long-run production decisions by looking at its cost structure because, in the long run, a firm does NOT have any __________ costs.

Jason owns a business in Jacksonville, Florida, that sells home security systems. The local market for security systems is very competitive. At Jason’s current production level, his marginal cost is $2,550 and his marginal revenue is $2,400. To maximize profits, Jason should

Refer to the following table. What is the average fixed cost of producing five units of the good? Output Total Fixed Cost Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost 1 $500 $200 — — — — — 2 — — $800 — — — — 3 — — $875 — — — $25 4 — — $925 — — — — 5 — — — ???? $100 — — 6 — $450 — — — — —

Lester owns a home furnishings manufacturing shop that produces, among other things, framed mirrors. She has four employees; they can produce 25 mirrors per day. If she hired a fifth employee, she’d be able to produce 30 mirrors per day. Therefore, the marginal product of the fifth employee is __________ framed mirror(s).

Refer to the accompanying graph to answer the following three questions. A firm would be making positive profits if the price is

A farmers’ market is close to being a perfectly competitive market. Which characteristic of a perfectly competitive market do many farmers’ markets sometimes violate?