f market price is greater than the minimum of AVC but below the minimum of AC, then _____. Group of answer choices 1. economic profit is zero 2. revenue covers variable costs and some of the fixed costs, although profit is negative 3. revenue covers variable costs and some of the fixed costs and profit is positive 4. the firm will shut down

$150 $145 $140 MC $135 $130 $125 $120 $115 ATC $110 $105 $100 $95 $90 $85 $80 AVC $75 $70 $65 $60 $55 $50 $45 $40 $35 $30 $25 0 1 2 3 5 6 Quantity Produced 7 8 9 10 11 The graph above shows the cost functions for a perfectly competitive profit maximizing firm. If the market price of the product is $70 per unit, the firm will produce units, will cover make an economic profit of dollars. dollars of its fixed cost, and will

Typed plz and asap please provide me a quality solution for better rating and take care of plagiarism also do all or do nothing

please read the question as i have uploauded a question with the same table but different question  thank you

How to sovle these? What's the right answer?

AVC, ATC, MC 30 20 10 0 1 2 3 8 9 10 11 12 13 14 Output per period The Competitive Industry and Firm Select one: ATC Refer to the graph above to answer this question. What is the value of total revenue at the breakeven price?. A. $100. AVC OB. $40. OC. $210. OD. $280. E. $200.

Marginal profit and marginal cost are $36 and $88 respectively.  Calculate Marginal revenue

Universal Shampo0 is a price taker firm. Its costs are: Output (Shampoo per hour) Total Cost ($ per hour) 10 21 30 41 4 54 69 a. Calculate Universal's profit-maximizing output and economic profit if the market price is () $14 a shampoo. (i) $12 a shampoo (i) $10 a shampoo b. What is Universal's shutdown point and its economic profit if it shuts down temporarily? C. At what price will irms with costs identical to Universal's exit the Shampoo market in the long run? id. At what price willfirms with costs identical to Universal's enter the Shampoo market in the long run? 2.