Explain why earning zero economic profit is not as bad as itsounds.

Suppose that the market for frying pans is a competitive market. The following graph shows the daily cost curves of a firm operating in this market. Hint: After placing the rectangle on the graph, you can select an endpoint to see the coordinates of that point. 100 80 Profit or Loss 70 ATC 60 50 40 20 AVC 20 MC 10 10 12 QUANT TY Thousands of pans per dey 140 45 32 PRICE (Dollars per pan) 品 导

please do the last parts

Complete the table below and graph the AR, MR, MC, and AC   Q Price TR AR MR TC MC Profit 0 30       70     5 27       135     10 24       197     15 21       252     20 18       300     25 15       345     30 12       383     35 9       428     40 6       478     45 3       533     50 0       593       Provide a brief explanation of the firm's behavior to set production at 20 units at the price of P18 per unit.

for a firm with price in excess of average total cost, the presence of ecomonics profits implies that the firm should increase output in the short runeven if the price is below marginal cost . true or false explain

I need typing no chatgpt used please i will give 5 upvotes

1. Micky's auto mechanic shop has a daily total cost represented by: C = 98 + 2q + 2q². Shop's marginal cost is given by: MC = 2 + 4q, where q is the number of repaired cars. a. b. Derive an expression for average cost. Find the quantity range where the shop experientes the economies scale (Hint: scale economy AC index is given by: S = MC). At what production level are scale economies exhausted??

Define the term "sunk costs" and illustrate with an example. View keyboard shortcuts

Calculate the value of marginal cost when marginal revenue is $87 and the Marginal profit is $20

$ 0 Based on the graph above, the firm is earning: ο ο ο Zero economic profits Zero accounting profits MC Zero normal profits ATC AVC D = MR We can say nothing about this firm's profit or loss situation