Compact discs are sold in a perfectly competitive market. The current market price of compact discs is $15 if at the current level of production of compact discs you calculate the marginal cost to your company is also $15, and that AVC is rising, in the short run your company should OA produce fewer compact discs OB. continue producing the current level of compact dises OC. produce more compact discs OD. raise the price of its compact discs O

The figures below show (on the left) two possible demand curves and (on the right) two possible supply curves in the perfectly competitive hamburger market. Price per hamburger 0 A B D₂ D₁ Hamburgers per month Price per hamburger 0 Select one: a. Movement along D₁ from Point A to Point B. b. Demand shifts from D₁ to D₂. F c. Movement along S₁ from Point F to Point G. d. Demand shifts from D₂ to D₁. G Hamburgers per month Assume that people consume either hamburgers or hot dogs. What will be the result of a decrease in the price of hot dogs? Hint: Are hamburgers and hotdogs complements or substitutes? S₂ S₁

In a perfectly competitive market, when are economic profits possible? O Long-run O Economic profits are always zero, firms earn normal profit O Any time, it depends on the indivual firm O Short run

16. In the short run, the profit maximization for a firm in a perfectly competitive market would be: the marginal revenue is equal to the market price the marginal revenue is equal to the average revenue The market price is equal to the marginal cost O the marginal revenue is greater than the marginal cost

A local pizzeria only servers two items: pizzas and sandwiches. An increase in the demand for sandwiches will result in which of the following for the firm? O an increase the opportunity cost of producing pizzas O an increase in the amount of resources the firm devotes to producing pizzas O a decrease in the price of bread a decrease in the price of sandwiches a decrease in the firm's overall revenue

For a profit-maximizing price-taker firm, a reduction in the price of a good will cause the marginal revenue for that fiem and the quantity the firm produces to. to Oa Fall; Rise Ob Rise; Fall Oc. Rise; Rise Od. Fall, Fall

problem statement of MICROMAX during covid 19 period why was fall down in the demand of micromax mobile explain in brief

QUESTION 33 Consider a major producer of liquid soap. Which of the following would not shift its supply curve of liquid soap inward (to the left)? O a. A substitute in supply becomes more profitable O b. Environmental regulations requiring the producer to use a more costly technology to produce liquid soap O c. An increase in the wage rate for factory workers who produce liquid soap O d. A decrease in the price of liquid soap

Consider a firm in a perfectly competitive market. If this firm were to raise its price, its a. revenue would fall dramatically b. profits would increase as long as costs remained constant C. total costs would increase revenue would increase only if market demand were inelastic e. revenue would decrease only if market demand were elastic

If a profit-maximizing, competitive firm is producing a quantity at which marginal cost is between average variable cost and average total cost, it will O keep producing in the short run but exit the market in the long run. O shut down in the short run but return to production in the long run. O shut down in the short run and exit the market in the long run. O keep producing both in the short run and in the long run.