Refer to Figure 12-10. If the price is less than $6, the firm shouldshort run andin the long run.OA. shut down; exit the marketOB. continue operating, stay in the market and expandOC. continue operating; exit the marketOD. exit the market; exit the marketin theRevenueand cost(dollarsper unit)$20111060J200 250300ATCAVCMRQuantity

The study and analysis of commercial financial concerns using abstract economic ideas and concepts…

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

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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Answer question 6D only
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# Units Produced Total Revenue Total Costs 1 100 50 180 110 250 180 4 290 270 310 380 10. What is the marginal revenue of producing the 2nd unit? a) 50. b) 70. c) 90. d) 80. 2. 5.
Mariam has a small bakery. She spends 200KD a month to rent a building for his company, 600KD a month for renting the machines, and 10KD for one hour of employees work. Mariam produced 300 cakes this month and sold at a price of 5KD. She has used 40 working hours. Calculate: 1. Mariam's fixed cost 2. Mariam's total cost of producing 300 cakes 3. Mariam's revenue when she sold 300 cakes 4. Mariam's profit when she sold 300 cakes
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No old andwer
ATC $70 $60 $50 DIMR $40 $30 $20 $10 0 60 100 160 200 260 300 360 400 Output If the price were $60, this firm would the long run. in the short run and in O operate; go out of business O shut down; go out of business O shut down; stay in business O operate; stay in business
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. 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: