Price and Cost 961 The graph below contains the relevant cost curves for a perfectly (or purely) competitive firm. The graph below is not graded. You can move point A to help you answer the questions. 1000 900 800 700 600 500 400 300 200 100 0 0 MC Quantity ATC AVC AFC 100 200 300 400 500 600 700 800 900 1000 860 The price of the good must be above what point for the firm to earn positive economic profits? Number $600 What is the shutdown price for this firm? Number $400

Required information The following figure shows the costs for a perfectly competitive producer: AVC, ATC, MC $46 235 30 25 20 15 10 5 0 MC 10 20 30 40 50 60 70 80 90 100 ATC AVC Output per period Refer to the above figure to answer this question. If the price of the product is $10, what is the profit-maximizing (or loss-minimizing) output?

Hi, I do not understand why B is the correct answer for number 3. How do I know that this monoply is earning a normal economic profit in the long run?

In perfect competition, if the marginal cost increases which way does the curve shift? what are some things that would increase the marginal cost curve and if the MC curve shifts then does the ATC curve?

Lisa lawn company (LLC) is a lawn mowing business in a perfectly competitive market for lawn moving services. The following tables set out Lisa's costs Quantity(lawn per hour) Total Cost(dollars per lawn) 0 $30 1 $40 2 $55 3 $75 4 $100 5 $130 6 $165 A. If the market price is $30 per lawn, How many lawns per hour does Lisa's LLC now? B. If the market price is 30 per lawn, What is Lisa"s profit in the short run? C. if the market price falls to $20 per lawn, how many lawns per hour does Lisa's LLC now? D. if the market price falls to $20 per lawn, what is Lisa's profit in the short run? E. At What market price will Lisa shut down?

Brody's firm produces trumpets in a perfectly competitive market. The table below shows Brody's total variable cost. He has a fixed cost of $240, and the price per trumpet is $60.-Calculate the average total cost of producing 6 trumpets. Show your work. -Calculate the marginal cost of producing the 11th trumpet. -What is Brody's profit-maximizing quantity? Use marginal analysis to explain your answer. -At the profit-maximizing quantity you determined in part (c), calculate Brody's profit or loss. Show your work. -Brody also produces saxophones at a loss in a perfectly competitive market. Draw a correctly labeled graph for Brody's firm showing the following at a market price of $200. -Brody's profit-maximizing quantity of saxophones -Brody's loss, completely shaded   Quantity Total Variable cost 6 $120 7 $145 8 $165 9 $220 10 $290 11 $390

Part a a.an economic profit b.a normal profit c.a loss Part c a.an economic profit b.a normal profit c.a loss .   .

Graph the following for a perfectly competitive firm: A graph for short run economic profit for the firm

why the answer is 150.      Please answer correct calculation asap plz Don't answer by pen paper plz

Assignment Instructions: Find the Graphs for a Pure Competition Firm  Do a Google Images and find the graphs for a perfectly competitive firm.   graphs must include the following specific graphs:  Find the graph for short run economic loss for the firm.  Find the graph for short run economic profit for the firm.  Find the graph for long run – normal profit for the firm.  Make sure the graphs show the area of economic profit or loss.