Which of the following is FALSE? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a b с For a perfectly competitive firm, the factor demand curve is the same as the MRP curve and the VMP curve. For a price searcher, its VMP curve lies above its MRP curve. For a price searcher, its VMP curve is its factor demand curve. d A firm that faces a horizontal (perfectly elastic) supply curve of factors is called a factor price taker.

The figure is not finished but how will you draw the long run equilbirum at the price of $100 on this?

Consider the graph of a firm in a perfectly competitive market to answer the question below: P MC АТС 7 3 MR 10 What is the value of this firm's revenue if it operates where MR=MC? Enter your answer as a number below. Do not include a "$" sign.

Refer to the above diagram for a purely competitive producer. The lowest price at which the firm should produce (as opposed to shutting down) is?

Consider a firm selling apples and the market for apples is perfectly competitive. The following table presents the costs of a firm. Use the given information to answer questions 35 - 42. Q AFC AVC ATC MC TC 1$300 $100 $400$100$400 2 150 75 225 50 3 100 70 170 60 4 75 72.5 147.5 80 5 60 80 140 11O| 6 50 90 140 140| Find the market price such that the firm's maximized profit = $0 Answer: The firm's maximized profit is $0 if the market price = $.

What is output per firm at the long-run equilibrium price? What is the long-run equilibrium profit?

O Farmer Brown grows peaches in Georgia. Suppose the market for peaches is perfectly competitive and that the market price for a box of peaches is $32 per box. Farmer Brown's marginal cost of production is illustrated in the table. Boxes of Peaches Market Price (per box) Marginal Cost (MC) 0 $32 1 32 10.00 2 32 5.00 3 32 15.00 4 32 30.00 5 32 60.00 6 32 90.00 What price will farmer Brown charge when maximizing profit? Farmer Brown will charge a price of $☐ per box of peaches. (Enter your response as an integer.) What is farmer Brown's profit-maximizing level of output? Farmer Brown maximizes profit when producing boxes of peaches. (Enter your response as an integer.) Time Remaining: 01:15:52 Next