Should a firm shut down and why if its revenue is R=$ 1, 000.                     Its variable cost VC=$ 500 and its sunk fixed cost is F= $ 600. Its variable cost VC=$ 1, 500 and its sunk fixed cost is F= $ 500

Find marginal profit when marginal revenue is $90 and marginal cost $50

Suppose a firm producing cell phones is operating such that marginal costs are much lower than average costs. If the firm produces one more cell phone, average costs will     rise.     fall.     remain constant.     reach their maximum.

Question 21 Average fixed cost decreases as quantity increases. True False

No AI    when no changes in costs of production in long run firm produce at min of average total cost curve Price= ATC min It will charge $11.00 in long run. Why $11.00. I can see that the MC crosses the ATC at that point but I need an explanation so I understand why.

Show full answers and steps to part d) e) & f)

$ per unit $40 $20 2 4 6 8 10 MC 12 ATC MR AVC Output (q) The graph above shows a firm's Marginal Revenue (MR), Marginal Cost (MC), Average Total Cost (ATC) and Average Variable Cost (AVC). This firm is a profit-maximizing price taker. Find the firm's short run shutdown price. (Do not include a $ sign in your response. Round to the nearest two decimal places if necessary.)

Total fixed cost for this firm:

Farmer Brown grows blueberries. The average total cost, average variable cost, and marginal cost of growing blueberries for an individual farmer are illustrated in the graph to the right. Farmer Brown will incur losses if the market price falls below $ per crate. (Enter a numeric response using an integer.) Furthermore, farmer Brown should shut down in the short run if the market price falls below $ per crate. C Price and cost (dollars per crate) 40- 36- 32- 28- 24- 20- 16- 12- 8- 4 0 MC AT AVI 90 10 20 30 40 50 60 70 80 Quantity of blueberries (crates per week) 1

A firms total profit equals?