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At MC=MR, price is 12 which is greater than ATC, meaning firms are earning profit that encourages firms to enter.
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Question Completion Status: Use the following graph: Costs and Revenue $14 ATC $12 $11.50 -P=MREAR AVC...
Question Completion Status: MC ATC AVC 100 150 200 Figure 9.3 Figure 9.3 shows the cost structure of a firm in a perfec...
Question Completion Status: MC ATC AVC 100 150 200 Figure 9.3 Figure 9.3 shows the cost structure of a firm in a perfectly competitive market. The price at which the firm is just as well off either operating or shutting down is: O $3. $4.50. O $6. $10.
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.
Use the following graph to answer the next question. MC ATC AVC Costs and Revenues 1.25...
Use the following graph to answer the next question. MC ATC AVC Costs and Revenues 1.25 1.05 .90 .80 .65 .60 o 15 20 35 Quantity The graph shows the cost curves for a perfectly competitive firm. If the market price of the product is $1.25 per unit, then the firm will earn how much profit per unit in the short run? O $.65 O $1.25 O $.45 O $.60
МС ATC AVC 22 16 MR 12 11 17 19 14 Quantity (units) What is the...
МС ATC AVC 22 16 MR 12 11 17 19 14 Quantity (units) What is the shutdown price? What will the firm choose to do in the short-run? Explain why this is the best decision for the firm Explain how the entry or exit will occur in the market to ensure that firms earn zero economic profit in the long run? Clearly label the firm's supply curve. Price (dollars per unit)
For a perfectly competitive market made up of firms represented in the graph below, what is...
For a perfectly competitive market made up of firms represented in the graph below, what is the long run equilibrium price of the good? Cost ($) MC ATC AVC $16 $14 $12 $10 Quantity $14 $10 $12 $16 For a perfectly competitive market made up of firms represented in the graph below, if the price is $14, Cost ($) MC ATC $16 AVC - $14 $12 $10 Quantity The firm is operating at its minimum long run average total cost....
Question 23 4 pts Use the graph below to answer the following question: 1 Price ATC...
Question 23 4 pts Use the graph below to answer the following question: 1 Price ATC - AVC 1 2 3 4 5 6 7 8 9 10 11 Quantity If the market price is $8, in the long run, existing firms will exit the market. O Not enough information to answer this question. O firms will neither enter nor exit the market. O new firms will enter the market.
$20 $18 ATC MC $16 $14 $ $12 Cost of Sweatpants $10 $8 AVC $6 $4...
$20 $18 ATC MC $16 $14 $ $12 Cost of Sweatpants $10 $8 AVC $6 $4 $2. $0 7 Cost Curves Sweatpants Firm 1 2 10 O 3 4 5 6 7 8 9 Quantity of Sweatpants The above graph contains the average total cost, marginal cost, and average variable cost for a small firm that produces sweatpants. Assume the market for sweatpants is perfectly competitive and all sweatpants firms have the same costs. What is the long-run equilibrium price...
Question 2 10 pts Use the following graph to answer the next question. MC ATC AVC...
Question 2 10 pts Use the following graph to answer the next question. MC ATC AVC Costs and Revenues 1.25 1.05 .90 .80 .65 .60 0 20 15 35 Quantity The graph shows the cost curves for a perfectly competitive firm. If the market price of the product is $1.25 per unit, then the firm will earn how much profit per unit in the short run? $.60 $1.25 $.65 o $.45
.Question Completion Status QUESTION 11 Suppose a firm doubles its employment of all inptuts in the long run. If th...
.Question Completion Status QUESTION 11 Suppose a firm doubles its employment of all inptuts in the long run. If this action more than doubles the amount of capital produced, then this firm is experiencing O Increasing returns to scale diminishing marginal returns o technological progress O positive marginal revenue QUESTION 12 When input prices are fixed, decreasing returns to scale implies that the long run average cost curve is downward sloping O horizontal upward sloping O Ushaped QUESTION 13 If...
can you answer questions 7, 10, 11 and 13. thanks! Question Completion Status: QUESTION7 Refer to the following figure showing the reaction functions of oligopoly firms A and B OR, BR Bs Advert...
can you answer questions 7, 10, 11 and 13. thanks!
Question Completion Status: QUESTION7 Refer to the following figure showing the reaction functions of oligopoly firms A and B OR, BR Bs Advertising In Nash equilibrium, both firms are maximizing their own profits given the level of advertising expected to be undertaken by the other firm O firm B can increase its profit by unilaterally increasing its level of advertising O firm A can increase its profit by unilaterally increasing...
Question Completion Status: MC ATC AVC 100 150 200 Figure 9.3 Figure 9.3 shows the cost structure of a firm in a perfectly competitive market. The price at which the firm is just as well off either operating or shutting down is: O $3. $4.50. O $6. $10.
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.
Use the following graph to answer the next question. MC ATC AVC Costs and Revenues 1.25 1.05 .90 .80 .65 .60 o 15 20 35 Quantity The graph shows the cost curves for a perfectly competitive firm. If the market price of the product is $1.25 per unit, then the firm will earn how much profit per unit in the short run? O $.65 O $1.25 O $.45 O $.60
МС ATC AVC 22 16 MR 12 11 17 19 14 Quantity (units) What is the shutdown price? What will the firm choose to do in the short-run? Explain why this is the best decision for the firm Explain how the entry or exit will occur in the market to ensure that firms earn zero economic profit in the long run? Clearly label the firm's supply curve. Price (dollars per unit)
For a perfectly competitive market made up of firms represented in the graph below, what is the long run equilibrium price of the good? Cost ($) MC ATC AVC $16 $14 $12 $10 Quantity $14 $10 $12 $16 For a perfectly competitive market made up of firms represented in the graph below, if the price is $14, Cost ($) MC ATC $16 AVC - $14 $12 $10 Quantity The firm is operating at its minimum long run average total cost....
Question 23 4 pts Use the graph below to answer the following question: 1 Price ATC - AVC 1 2 3 4 5 6 7 8 9 10 11 Quantity If the market price is $8, in the long run, existing firms will exit the market. O Not enough information to answer this question. O firms will neither enter nor exit the market. O new firms will enter the market.
$20 $18 ATC MC $16 $14 $ $12 Cost of Sweatpants $10 $8 AVC $6 $4 $2. $0 7 Cost Curves Sweatpants Firm 1 2 10 O 3 4 5 6 7 8 9 Quantity of Sweatpants The above graph contains the average total cost, marginal cost, and average variable cost for a small firm that produces sweatpants. Assume the market for sweatpants is perfectly competitive and all sweatpants firms have the same costs. What is the long-run equilibrium price...
Question 2 10 pts Use the following graph to answer the next question. MC ATC AVC Costs and Revenues 1.25 1.05 .90 .80 .65 .60 0 20 15 35 Quantity The graph shows the cost curves for a perfectly competitive firm. If the market price of the product is $1.25 per unit, then the firm will earn how much profit per unit in the short run? $.60 $1.25 $.65 o $.45
.Question Completion Status QUESTION 11 Suppose a firm doubles its employment of all inptuts in the long run. If this action more than doubles the amount of capital produced, then this firm is experiencing O Increasing returns to scale diminishing marginal returns o technological progress O positive marginal revenue QUESTION 12 When input prices are fixed, decreasing returns to scale implies that the long run average cost curve is downward sloping O horizontal upward sloping O Ushaped QUESTION 13 If...
can you answer questions 7, 10, 11 and 13. thanks!
Question Completion Status: QUESTION7 Refer to the following figure showing the reaction functions of oligopoly firms A and B OR, BR Bs Advertising In Nash equilibrium, both firms are maximizing their own profits given the level of advertising expected to be undertaken by the other firm O firm B can increase its profit by unilaterally increasing its level of advertising O firm A can increase its profit by unilaterally increasing...
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