Answer in step by step with explanation.Don't use Ai and chatgpt.Answer in all options.Vvvvvvvvvvvvvv PMCATCP₁P2P3AVCP4010 142430 40 44 47Output62 6668At P4 in the accompanying diagram, this firm willproduce 10 units and earn only a normal profit.shut down in the short run.produce 30 units and earn only a normal profit.produce 30 units and incur a loss.

The correct option is: The firm will shut down in the short run.Why the firm will shut down in the…

Answered: P MC ATC P₁ P2 P3 AVC P4 0 10 14 24 30…

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter23: Profit Maximization

Section: Chapter Questions

Problem 6E

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11. Madibaz is a company that produces t-shirts. The firm operates in a highly competitive, industry and each t-shirt is priced at R80. Madibaz's marketing manager wants to determine the possible total profit for the year given the price and costs of production. The total cost equation is TC=25000 +0.025Q where Q is the number of t-shirts per year. Calculate Madibaz's total profit.
What is the total cost for this firm? (omit $ sign. Report cents as needed.) MC ATC D Quantity Price $14.00+ $12.00 $10.00 $8.00 0 1 1 I 250 300 MR
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The graph shows the short-run cost curves of a toy producer. The market has 1,000 identical toy producers. The market price of a toy is $21. In the short run, the firm produces toys a week. 24- 21- 18- 15- 12- 9- 0 500 1000 1500 2000 MC ATC AVC 2500
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Laura’s cleaning service is a profit-maximising, competitive firm. Laura cleans awhole house for $156. Her total cost each day is $1680, of which $480 is a fixed cost. She cleans 8 houses a day.(a)Should Laura shutdown her business in the short-run, assuming that she cannot recover her fixed cost?(b) Should she exit in the long-run?
The graph to the right depicts the daily total cost and total revenue curves for a firm. If the firm chooses the profit maximizing level of output, it will earn a profit of $ per day. (Round your answer to the nearest penny.) Revenue and Costs (3) 1,180 1910 624 480 48 91 118 Output (per day) TR a a G
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ntQu102spring22 (1) - Protected View • Saved to this PC - O Search (Alt+Q) Faridatu Pafadnam References Mailings Review View Help t Defender Advanced Threat Protection and it hasn't detected any threats. If you need to edit this file, click enable editing, Enable Editing 3) Consider the following short-run cost curves for a profit-maximizing firm in a perfectly competitive industry. MC SRATC 4 SRAVC 1.5 1 100 200 300 400 Quantity FIGURE 1 a) Refer to Figure 1. If the current market price is $6, what is the profit-maximizing output for this firm? b) Refer to Figure 1. If the price is $6 and the firm is producing at its profit-maximizing output, then what are total costs for the firm? c) Refer to Figure 1. If the market price is $1, the firm will produce short run. units of output in the d) Refer to Figure 1. If the market price is $2, what the firm will do? Price $
The graph below shows the demand and cost conditions facing a price-setting firm. What is the maximum amount of profit the firm can earn?

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P MC ATC P₁ P2 P3 AVC P4 0 10 14 24 30 40 44 47 Output 62 6668 At P4 in the accompanying diagram, this firm will produce 10 units and earn only a normal profit. shut down in the short run. produce 30 units and earn only a normal profit. produce 30 units and incur a loss.