Japayuki Noodle Restaurant, a restaurant that is under a perfectly competitive market, is selling Super Chasu Ramen. The Cost Curves of the firm is given below: Cost per unit MC ATC AVC 13 10 8 20

Why don't firms in a competitive market have excess capacity in the long run?

Can you create a graph showing perfect competition for grocery stores in a rural area ? And explain the graph?

When would a profit-maximizing firm shut down in the short run?

What prevents a perfectly competitive firm from seeking higher profits by increasing the price that it charges?

Price Average total cost AVC Demand Marginal cost Marginal revenue Q Quantity Discuss the firm plotted on the figure. What type of firm do you see?is the firm operating at the optimal point of production? is the firm making a proht? s the firm operating in the short or in the long run?

Suppose that in the short run perfectly competitive firms earn $1,250 in economic profit. Would we expect to see more, less, or the same number of firms operating in the market in the long run?

What is the shutdown decision of the firm? How should a firm decide whether to continue business or shut down in the short run?

A slight increase in the marginal cost of a firm definitely leads to a reduction in its output if the firm competes in the: A. Sweezy fashion. B. Cournot fashion. C. Bertrand fashion. D. Cournot fashion and Bertrand fashion.   Please explain your answer!

Consider a kettle firm A in a perfectly competitive market. Table 1 shows the quantity produced per hour (Q) and the total cost (TC) in the short run. Quantity 0 12345C70 2 6 8 Total cost 17 30 40 55 75 100 130 165 210 Fixed cost 17 17 17 17 17 17 17 17