In the graph above, MC is the firm's marginal cost curve, ATC is the firm's average total cost curve, and AVC is the firm's average variable cost curve. If the firm faces a price between P1 and P2:
the firm will stay open in both the short run and the long run.
the firm will stay open in the short run but close in the long run.
the firm will close in both the short and long run.
Homework Answers
At any price between P1 and P2, the firm is able to recover its variable cost but not its total cost so it will produce in the short run but exit in the long run
option(B)
Add Answer to:
In the graph above, MC is the firm's marginal cost curve, ATC is
the firm's average...
P M C ATC Av In the graph above, MC is the firm's marginal cost curve, ATC is the firm's average total cost curve,...
P M C ATC Av In the graph above, MC is the firm's marginal cost curve, ATC is the firm's average total cost curve, and AVC is the firm's average variable cost curve. If the firm faces a price between P1 and P2: the firm will stay open in both the short run and the long run. the firm will stay open in the short run but close in the long run. the firm will close in both the short...
In the graph above, MC is the firm's marginal cost curve, ATC is the firm's average...
In the graph above, MC is the firm's marginal cost curve, ATC is
the firm's average total cost curve, and AVC is the firm's average
variable cost curve. If the firm faces a price greater than P2,
then
the firm will stay open in both the short and the long run.
the firm will stay open in the short run, but close in the long
run.
the firm will close in both the short and the long run.
Ате 12...
In the graph above, MC is the firm's marginal cost curve, ATC is the firm's average...
In the graph above, MC is the firm's marginal cost curve, ATC is
the firm's average total cost curve, and AVC is the firm's average
variable cost curve. If the equilibrium price in this market is
above P2, then
firms will exit this market in the long run.
firms will enter this market in the long run.
the number of firms in this market will not change in the long
run.
- Ave
P ATC Ave C2 In the graph above, MC is the firm's marginal cost curve, ATC...
P ATC Ave C2 In the graph above, MC is the firm's marginal cost curve, ATC is the firm's average total cost curve, and AVC is the firm's average variable cost curve. If the equilibrium price in this market is above P2, then firms will enter this market in the long run. firms will exit this market in the long run. the number of firms in this market will not change in the long run.
$ per unit MC ATC MR $40 AVC $20 2 4 6 8 10 12 Output (9) The graph above shows a firm's Marginal Revenue (MR), M...
$ per unit MC ATC MR $40 AVC $20 2 4 6 8 10 12 Output (9) 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 S sign in your response. Round to the nearest two decimal places if necessary.) Answer: Check
ATC AVC The figure above represents a firm's marginal cost, average variable cost, and average total...
ATC AVC The figure above represents a firm's marginal cost, average variable cost, and average total cost curves. The firm operates in a perfectly competitive market. Copy this figure into your assignment and indicate the firm's short-run market supply curve.
Consider the competitive market for halogen lamps. The following graph shows the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves for a typical firm in the industry.
Consider the competitive market for halogen lamps. The following graph shows the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves for a typical firm in the industry. For each price in the following table, use the graph to determine the number of lamps this firm would produce in order to maximize its profit. Assume that when the price is exactly equal to the average variable cost, the firm is indifferent between producing zero lamps and the...
The top graph below shows the marginal cost (MC), average variable cost (AVC), and average total...
The top graph below shows the marginal cost (MC), average variable cost (AVC), and average total cost (ATC) curves for an individual firm in a competitive commercial ridesharing market where the price has stabilized. In the blank graph below it, use the straight-line tool to draw the long-run market supply curve as a line from one edge of the graph to the other.
The graph to the right depicts the average cost curves and the marginal cost curve for...
The graph to the right depicts the average cost curves and the marginal cost curve for a typical firm in a competitive industry. 1.) Using the line drawing fool, draw the firm's demand curve at a market price such that the firm is breaking even. Label your curved, 2.) Using the line drawing tool, draw the firm's demand curve at a market price such that the firm is at its shutdown price. Label your curved, Carefully follow the instructions above,...
Q1: The following graph shows the current short-run average total cost (ATC), short-run marginal cost (MC),...
Q1: The following graph shows the current short-run average total cost (ATC), short-run marginal cost (MC), and long-run average cost (LATC) curves of a typical perfectly competitive firm that uses only labour and physical capital to produce its product and the current market price (PⓇ). S/unit MC ATC LATC B Pa E Q1 Q2 Quantity a) How many units of output would the firm choose to produce in the short run? Explain. b) Is the firm making an economic profit...
P M C ATC Av In the graph above, MC is the firm's marginal cost curve, ATC is the firm's average total cost curve, and AVC is the firm's average variable cost curve. If the firm faces a price between P1 and P2: the firm will stay open in both the short run and the long run. the firm will stay open in the short run but close in the long run. the firm will close in both the short...
In the graph above, MC is the firm's marginal cost curve, ATC is
the firm's average total cost curve, and AVC is the firm's average
variable cost curve. If the firm faces a price greater than P2,
then
the firm will stay open in both the short and the long run.
the firm will stay open in the short run, but close in the long
run.
the firm will close in both the short and the long run.
Ате 12...
In the graph above, MC is the firm's marginal cost curve, ATC is
the firm's average total cost curve, and AVC is the firm's average
variable cost curve. If the equilibrium price in this market is
above P2, then
firms will exit this market in the long run.
firms will enter this market in the long run.
the number of firms in this market will not change in the long
run.
- Ave
P ATC Ave C2 In the graph above, MC is the firm's marginal cost curve, ATC is the firm's average total cost curve, and AVC is the firm's average variable cost curve. If the equilibrium price in this market is above P2, then firms will enter this market in the long run. firms will exit this market in the long run. the number of firms in this market will not change in the long run.
$ per unit MC ATC MR $40 AVC $20 2 4 6 8 10 12 Output (9) 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 S sign in your response. Round to the nearest two decimal places if necessary.) Answer: Check
ATC AVC The figure above represents a firm's marginal cost, average variable cost, and average total cost curves. The firm operates in a perfectly competitive market. Copy this figure into your assignment and indicate the firm's short-run market supply curve.
The top graph below shows the marginal cost (MC), average variable cost (AVC), and average total cost (ATC) curves for an individual firm in a competitive commercial ridesharing market where the price has stabilized. In the blank graph below it, use the straight-line tool to draw the long-run market supply curve as a line from one edge of the graph to the other.
The graph to the right depicts the average cost curves and the marginal cost curve for a typical firm in a competitive industry. 1.) Using the line drawing fool, draw the firm's demand curve at a market price such that the firm is breaking even. Label your curved, 2.) Using the line drawing tool, draw the firm's demand curve at a market price such that the firm is at its shutdown price. Label your curved, Carefully follow the instructions above,...
Q1: The following graph shows the current short-run average total cost (ATC), short-run marginal cost (MC), and long-run average cost (LATC) curves of a typical perfectly competitive firm that uses only labour and physical capital to produce its product and the current market price (PⓇ). S/unit MC ATC LATC B Pa E Q1 Q2 Quantity a) How many units of output would the firm choose to produce in the short run? Explain. b) Is the firm making an economic profit...
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