Homework Answers
Answer
option 4
the bcd and above on the MC
the MC curve is a supply curve above a minimum of AVC as the firm
starts supply when the price is above a minimum of AVC.
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AVC The firm's short-run supply curve is Multiple Choice not shown. the "cd" segment and above...
Question 2 1,000 pts Refer to the accompanying figure. This firm's short-run supply curve is represented...
Question 2 1,000 pts Refer to the accompanying figure. This firm's short-run supply curve is represented by Price and Cost MC ATC AVC the: $20.00 $15.00 $9.00 Quantity O marginal cost (MC) curve about $15. O Average available cost (AVC) curve about $15. O average total cost (ATC) curve above $20 O marginal cost (MC) curve about $8.
Multiple Choice - Choose the correct alternative 1. The long-run competitive market supply curve is: a)...
Multiple Choice - Choose the correct alternative
1. The long-run competitive market supply curve is: a) The portion of the firms MC curve that is above the ATC curve b) The portion of the firms MC curve that is above the AVC curve c) The horizontal summation of all the firm's short-run supply curves d) A curve that is equal to the minimum of ATC e) a) and d) 2. Suppose the firms production process is given by Q =...
The loss of a perfectly competitive firm which shuts down in the short run: Multiple Choice...
The loss of a perfectly competitive firm which shuts down in the short run: Multiple Choice O is equal to its total variable costs. O O ь is zero. гето. O is equal to its total fixed costs. cannot be determined. Refer to the diagrams, which show the demand and cost curves for a perfectly competitive firm producing output and the demand and supply curve for the industry in which it operates. Which of the following is correct? ATC AVC...
In the extended analysis of aggregate supply, the short-run aggregate supply curve is Multiple Choice 0...
In the extended analysis of aggregate supply, the short-run aggregate supply curve is Multiple Choice 0 upsloping and the long-run aggregate supply curve is vertical. 0 vertical and the long-run aggregate supply curve is horizontal 0 horizontal and the long-run aggregate supply curve Is upsloping. 0 horizontal and the long-run aggregate supply curve Is vertical.
Sticky wages cause the: Multiple Choice long-run aggregate supply curve to slope upward. short-run aggregate supply...
Sticky wages cause the: Multiple Choice long-run aggregate supply curve to slope upward. short-run aggregate supply curve to slope downward. long-run aggregate supply curve to slope downward. short-run aggregate supply curve to slope upward.
2. (Figure 8.12) Curve ABCD is the firm's marginal cost (MC) curve. Curve FCH is the...
2. (Figure 8.12) Curve ABCD is the firm's marginal cost (MC) curve. Curve FCH is the firm's average cost (AC) curve. Curve EBG is the firm's average variable cost (AVC) curve. The perfectly competitive firm's short-run supply curve is represented by curve: Price (5) 10- E, B, C, and D. O B, C, and H O A, B, C, and D O B, C, and D
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 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.
- -...
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...
Help with #8-11 please. For questions 8-11, refer to this diagram for 2 purely competitive producer....
Help with #8-11 please.
For questions 8-11, refer to this diagram for 2 purely competitive producer. ATC AVC 8. The lowest price at which the firm should produce (as opposed to shutting down) is: A.P. B. P2 C.P. D. P. 9. The firm will produce at a loss at all prices: A. Above P2. B. Above P3. C. Above P. D. Between P2 and Ps. 10. If product price is P3: A. The firm will maximize profit at point d....
the short-run aggregate supply curve is most likely to shift down The short-run aggregate supply curve...
the short-run aggregate supply curve is most likely to shift
down
The short-run aggregate supply curve is most likely to shift down to the right) when actual output is: Multiple Choice not equal to potential output, regardless of whether it is above or below. greater than potential output equal to potential output. less than potential output
Question 2 1,000 pts Refer to the accompanying figure. This firm's short-run supply curve is represented by Price and Cost MC ATC AVC the: $20.00 $15.00 $9.00 Quantity O marginal cost (MC) curve about $15. O Average available cost (AVC) curve about $15. O average total cost (ATC) curve above $20 O marginal cost (MC) curve about $8.
Multiple Choice - Choose the correct alternative
1. The long-run competitive market supply curve is: a) The portion of the firms MC curve that is above the ATC curve b) The portion of the firms MC curve that is above the AVC curve c) The horizontal summation of all the firm's short-run supply curves d) A curve that is equal to the minimum of ATC e) a) and d) 2. Suppose the firms production process is given by Q =...
The loss of a perfectly competitive firm which shuts down in the short run: Multiple Choice O is equal to its total variable costs. O O ь is zero. гето. O is equal to its total fixed costs. cannot be determined. Refer to the diagrams, which show the demand and cost curves for a perfectly competitive firm producing output and the demand and supply curve for the industry in which it operates. Which of the following is correct? ATC AVC...
In the extended analysis of aggregate supply, the short-run aggregate supply curve is Multiple Choice 0 upsloping and the long-run aggregate supply curve is vertical. 0 vertical and the long-run aggregate supply curve is horizontal 0 horizontal and the long-run aggregate supply curve Is upsloping. 0 horizontal and the long-run aggregate supply curve Is vertical.
Sticky wages cause the: Multiple Choice long-run aggregate supply curve to slope upward. short-run aggregate supply curve to slope downward. long-run aggregate supply curve to slope downward. short-run aggregate supply curve to slope upward.
2. (Figure 8.12) Curve ABCD is the firm's marginal cost (MC) curve. Curve FCH is the firm's average cost (AC) curve. Curve EBG is the firm's average variable cost (AVC) curve. The perfectly competitive firm's short-run supply curve is represented by curve: Price (5) 10- E, B, C, and D. O B, C, and H O A, B, C, and D O B, C, and D
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.
- -...
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...
Help with #8-11 please.
For questions 8-11, refer to this diagram for 2 purely competitive producer. ATC AVC 8. The lowest price at which the firm should produce (as opposed to shutting down) is: A.P. B. P2 C.P. D. P. 9. The firm will produce at a loss at all prices: A. Above P2. B. Above P3. C. Above P. D. Between P2 and Ps. 10. If product price is P3: A. The firm will maximize profit at point d....
the short-run aggregate supply curve is most likely to shift
down
The short-run aggregate supply curve is most likely to shift down to the right) when actual output is: Multiple Choice not equal to potential output, regardless of whether it is above or below. greater than potential output equal to potential output. less than potential output
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