Refer to the above Figure A. In the short-run this firm would shut-down at a price of a) $120 b) $100 c) $200 or less d) $300 or less

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If the price that a firm with no market power receives is $10, its minimum AVC is $8 and its minimum ATC is $15 then Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.   a. the firm will make a loss and shut down immediately   b. the firm can make a profit   c. it will make a loss and choose to continue to produce in the short run   d. the firm enjoys increasing returns to scale.   e. None of the above.

The figure given below shows the revenue and cost curves of a perfectly competitive firm. Figure 10.2 Price 50 35 30 20 10 $450 $700 10 $500 15 MC 20 MR AVC Refer to Figure 10.2. Compute the profit earned by the firm at the profit-maximizing level of output. $300 ATC Quantity

37) In a perfectly competitive industry, the market price of the product is $15. Firm A is currently producing 300 units. The firm's marginal cost is $15, its fixed costs amount to $1000 and its average variable cost equals $10. Which one of the following is true for this firm?a) it’s profits are 500 $b) it’s profits are -500 $c) it’s profits are -1500 $d) it’s profits are 1500 $

QUESTION 26 LA a firm in a perfectly competitive market 44 40 36 32 28 24 20 16 12 8 4 0 0 4 8 12 16 26. If the price falls below $10, the firm will a) make a profit b) shut down production c) produce 14 units Od) break even 20 MC ATC AVC 24 28 32

In the above figure, the perfectly competitive firm's shutdown point is at a price of

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Use the values for a perfectly competitive firm below to answer the questions:  Price Quantity  Total Cost  Fixed Cost Variable Cost $10 2,000 $24,000 $8,000 $16,000 (A) Should this firm shut down in the short run? (B) Assume this firm's total costs do not change in the long run. Should this firm exit in the long run?  (C) Are your answers to (a) and (b) different? Explain in one to four sentences.

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