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In the short run, the firm will only produce only if the price is equal to or greater than its minimum AVC
option(B)
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Question 19 In the short run, the firm should continue to produce if and only if...
In the short run, the perfectly competitive firm will continue to produce even though it might...
In the short run, the perfectly competitive firm will continue to produce even though it might experience an economic loss if: a.total cost exceeds marginal cost. b.the market price exceeds the average variable cost. c.total revenue exceeds total costs. d.the market price exceeds the average fixed cost.
A firm will continue to operate in the long run only if: it earns a positive...
A firm will continue to operate in the long run only if: it earns a positive rate of return. it earns a nonnegative economic profit. it makes a positive accounting profit. average cost exceeds price. the average variable cost exceeds price. A profit-maximizing firm should shut down in the short run if: price is greater than marginal cost. total revenue is less than total variable cost. the firm is earning less than a normal rate of return. the firm is...
8. In the short run, a perfectly competitive firm will shut down if it is producing...
8. In the short run, a perfectly competitive firm will shut down if it is producing a level of output where marginal revenue is equal to short-run marginal cost and price is A. Greater than average total cost. B. Less than average total cost. C. Greater than average variable cost. D. Less than average variable cost E. None of the above 10. Given your answer to Question 8, what can you say about Hanna's firm: A. It should continue operating...
Question 21 4 pts In the short run, a firm will stay in business as long...
Question 21 4 pts In the short run, a firm will stay in business as long as: o marginal revenue is greater than or equal to marginal cost O price equals average revenue Oprice exceeds average variable cost. O price is less than average variable cost Question 22 4 pts The point of maximum profit for a business firm is where: PEATC OTRETC TR=MR OMR = MC
2. Each of the following situations could exist for a perfectly competitive firm in the short run. In each case, ex...
2. Each of the following situations could exist for a perfectly competitive firm in the short run. In each case, explain whether the firm should produce in the short run, shut down in the short run, or whether additional information is needed to determine what it should do. a. Total costs exceed total revenue at all output levels. (4 pts) b. Marginal revenue exceeds marginal cost at the current output level. (4 pts) C. Price exceeds average total cost at...
Fixed costs are irrelevant in the decision about whether to shut down production in the short...
Fixed costs are irrelevant in the decision about whether to shut down production in the short run because fixed costs: do not affect, and are not affected by, the quantity the firm produces. can be paid off over time. only change when production changes only change in the short run |If a profit-maximizing perfectly competitive firm shuts down in the short run, it incurs no losses. it incurs an economic loss equal to total fixed cost. its profit equals zero....
Need full explanation pls Thank you Question A2 In the short run the market supply is...
Need full explanation pls
Thank you
Question A2 In the short run the market supply is a) the horizontal sum of each firm's average cost curve. b) the horizontal sum of each firm's average cost curve as long as price exceeds average variable cost. c) the horizontal sum of each firms marginal cost curve. d) the horizontal sum of each firm's marginal cost curve as long as price exceeds average variable cost. Question A7 A bahn mi store is a...
I need help with parts C and F ONLY. c.) In the long run, a firm...
I need help with parts C and F ONLY.
c.) In the long run, a firm operating in a perfectly competitive market will earn zero accounting profit, but can still earn positive economic profit d.) In the short run, a firm should exit the industry if its marginal costs exceeds its marginal revenue e.) In the long run, some firms will exit the market if price is below average total cost. f.) A perfectly competitive firm will consider fixed costs...
Thanks in advance 4) Explain why a firm should continue to operate in the short run...
Thanks in advance
4) Explain why a firm should continue to operate in the short run so long as market price is greater the firm's average variable cost at the profit-maximizing level of output.
In the short run, a perfectly competitive firm produces output using capital services (a fixed input)...
In the short run, a perfectly competitive firm produces output using capital services (a fixed input) and labour services (a variable input). At its profit-maximizing level of output, the marginal product of labour is equal to the average product of labour. a. What is the relationship between this firm's average variable cost and its marginal cost? O Average variable cost is higher than marginal cost O Average variable cost equals marginal cost O Average variable cost is less than marginal...
8. In the short run, a perfectly competitive firm will shut down if it is producing a level of output where marginal revenue is equal to short-run marginal cost and price is A. Greater than average total cost. B. Less than average total cost. C. Greater than average variable cost. D. Less than average variable cost E. None of the above 10. Given your answer to Question 8, what can you say about Hanna's firm: A. It should continue operating...
Question 21 4 pts In the short run, a firm will stay in business as long as: o marginal revenue is greater than or equal to marginal cost O price equals average revenue Oprice exceeds average variable cost. O price is less than average variable cost Question 22 4 pts The point of maximum profit for a business firm is where: PEATC OTRETC TR=MR OMR = MC
2. Each of the following situations could exist for a perfectly competitive firm in the short run. In each case, explain whether the firm should produce in the short run, shut down in the short run, or whether additional information is needed to determine what it should do. a. Total costs exceed total revenue at all output levels. (4 pts) b. Marginal revenue exceeds marginal cost at the current output level. (4 pts) C. Price exceeds average total cost at...
Fixed costs are irrelevant in the decision about whether to shut down production in the short run because fixed costs: do not affect, and are not affected by, the quantity the firm produces. can be paid off over time. only change when production changes only change in the short run |If a profit-maximizing perfectly competitive firm shuts down in the short run, it incurs no losses. it incurs an economic loss equal to total fixed cost. its profit equals zero....
Need full explanation pls
Thank you
Question A2 In the short run the market supply is a) the horizontal sum of each firm's average cost curve. b) the horizontal sum of each firm's average cost curve as long as price exceeds average variable cost. c) the horizontal sum of each firms marginal cost curve. d) the horizontal sum of each firm's marginal cost curve as long as price exceeds average variable cost. Question A7 A bahn mi store is a...
I need help with parts C and F ONLY.
c.) In the long run, a firm operating in a perfectly competitive market will earn zero accounting profit, but can still earn positive economic profit d.) In the short run, a firm should exit the industry if its marginal costs exceeds its marginal revenue e.) In the long run, some firms will exit the market if price is below average total cost. f.) A perfectly competitive firm will consider fixed costs...
Thanks in advance
4) Explain why a firm should continue to operate in the short run so long as market price is greater the firm's average variable cost at the profit-maximizing level of output.
In the short run, a perfectly competitive firm produces output using capital services (a fixed input) and labour services (a variable input). At its profit-maximizing level of output, the marginal product of labour is equal to the average product of labour. a. What is the relationship between this firm's average variable cost and its marginal cost? O Average variable cost is higher than marginal cost O Average variable cost equals marginal cost O Average variable cost is less than marginal...
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