ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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QUESTION 1
DA MC
ATC
AVC
Quantity
Observe the graph above. Based on the original price being set at P1, what assumptions would you make about the company's condition and what might happen
O The company is profitable and making a very good profit
O Company is barely at the break-even point or even below that point because the price of the product is set to cover just its variable costs which means the company
would not survive long if the price of P1 remains the same
O Company is making small profits in the short run
O None of the above.
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Transcribed Image Text:QUESTION 1 DA MC ATC AVC Quantity Observe the graph above. Based on the original price being set at P1, what assumptions would you make about the company's condition and what might happen O The company is profitable and making a very good profit O Company is barely at the break-even point or even below that point because the price of the product is set to cover just its variable costs which means the company would not survive long if the price of P1 remains the same O Company is making small profits in the short run O None of the above.
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