Refer to Figure 12-10. If the price is less than $6, the firm should short run and in the long run. OA shut down; exit the market OB. continue operating, stay in the market and expand C. continue operating; exit the market OD. exit the market; exit the market in the Revenue and cost (dollars per unit $20 11 10 6 200 ATC AVC Quantity

Please solve all parts will definitely upvote please dear expert

No old andwer

Table 14-15 Quantity Total Cost $2 1 $7 $10 3 $11 4 $18 5 $27 6 $38 Refer to Table 14-15. What is the lowest price at which this fırm would operate in the short run? $3. $4. $5. $6.

. The table represents the hourly output and cost structure for a local pizzeria. The market is per- fectly competitive, and the market price of a pizza in the area is $10. Total costs include all opportu- nity costs. Fixed costs equal zero. Total Hourly Output and Sales of Pizzas Total Hourly Variable Cost ($) 1 9. 2 11 12 14 5 18 6 24 7 32 8 42 54 10 68 a. Calculate the total revenue and total economic profit for this pizzeria at each rate of output. b. Assuming that the pizzeria always produces and sells at least one pizza per hour, does this appear to be a situation of short-run or long-run equilibrium? c. Calculate the pizzeria's marginal cost and mar- ginal revenue at each rate of output. Based on marginal analysis, what is the profit-maximizing rate of output for the pizzeria?

$10 987654321 Figure 10-8 JMC F 100 AC 200 300 AVC Figure 10-8 displays the cost curves of a perfectly competitive firm. Profits at a price of $10 would be approximately a. $10 per unit. b. $1 per unit. c. $3 per unit. d. $5 per unit.

The following figure shows the total cost and total revenue for a firm when it prices its products at $8 and $10. Price A 0 C H F JG 1. total fixed costs are OA. 2. economic profits equal BH. 3. average cost equals DG divided by OG. 4. total cost is minimized at B. TC TRO (P=$10) TR1 (P=$8) Output When the firm is producing the profit-maximizing level of output at a price of $10:

For questions 4-6: A firm has weekly revenue of $900. The firm's total cost is $1250 per week. The firm shuts down if 300 400 4 2 weekly fixed cost is less than 500 600 The firm's variable cost is $800 and its fixed cost, all of which is sunk, TRUE is $300. The firm will shut down. 2. FALSE The firm's total cost is $1200 and its fixed cost is $500. The firm shuts 20% 2. 40% down if the percentage of fixed costs that is avoidable is equal to or 60% greater than 80% >

Match the line number with the correct function. $ Line 2 Line 3 Line 4 a. Total Cost b. Total Revenue c. Fixed Cost Line 5 d. Profit Line 1 e. Variable Cost 4- 5-