For a perfectly competitive firm, a price above $ 20 would result in positive economic profits
help LEARNING OBJECTIVE: Identify the state of a firm based on information provided on a graph....
help .. please explain LEARNING OBJECTIVE: Identify the state of a firm based on information provided on a graph. 00 Price ($) Quantity 10 15 20 25 30 35 40 For a perfectly competitive firm, a price above $20 would result in _ For a perfectly competitive firm, a price above $20 would result in o a.) a short run loss, which would encourage some firms to leave the industry O b.) the firm shutting down O c.) long run...
answer Identifying a firm's loss Active Learning 3 Determine this firm's total loss assuming Costs, P AVC < $3. A competitive firm MC Identify the area on the graph that represents the firm's loss. p. $3 30
Vertical Horizontal Question 7 1.5 pts 7) When the price is between AVC and ATC (ATC<p>AVC), then total revenue for the competitive firm Covers only fixed cost Covers the variable cost only Covers total cost Covers the variable cost and part of the fixed cost Question 8 1.5 pts When the price is greater than ATC (P>ATC), then the firm Makes positive economic proht None of the above Makes loss Makes zero economic pro pe here to search
When a perfectly competitive market is in long-run equilibrium: O firms have an incentive to enter the market. O firms have an incentive to leave the market. O no firm has an incentive to enter or leave the market. When a firm operating in a perfectly competitive market is experiencing losses, it should continue operations if: O P< AVC O P=AVC O P > AVC If, in a perfectly competitive market, P= (a firm's) ATC, then the firm: earns an...
Price, cost ATC AVC Quantity Based on the graph the supply curve for the perfectly competitive firm depicted is most accurately represented by the segment: O O O O Price, cost Quantity Based on the graph above a perfectly competitive firm would never continue operations in short run if the price dropped to which segment of the marginal cost curve? O CE O AD O AC Осо
cach ANSWER THE FOLLOWING 2 QUESTIONS BASED ON THE GRAPH FOR A PERFECTLY COMPETITIVE FIRM mC ATC AVC H00 3 5 in thousan THE BREAK EVEN PRICE FOR THIS FIRM IS AND THE QUANTITY IF THE MARKET PRICE IS $600 PER THOUSAND BUSHEL, THE FIRM WILL PRODUCE AND EARN AN ECONOMIC PROFIT OF pts each USE THE FOLLOWING GRAPH FOR MUGS-R-US TO ANSWER THE NEXT 6 QUESTIONS ATC 4.5B 4.20 AVC 7D 88 /DD IF THE MARKET PRICE OF MUGS...
Use the following graph showing cost curves for a perfectly competitive firm to answer the next question. MC ATC /AVC Costs and Revenues 35 15 20 Quantity What is the lowest price at which the firm will start producing output in the short run? O $1.25 O $1.05 O $0.90 O
tml SCC Help Save & Ex Quantity Refer to the provided supply and demand graph S and Dy represent the curent market supply and demand, res One way thet the government could shift supply to its socially optimal level is to pectively. S2 and D2 represent the socialy optimal supply and demand < Prey 1f 20 Next>
The graph contains the relevant cost curves for a perfectly (or purely) competitive firm. Move point A on the graph to the shutdown point. 1,000 MC 900.0 ATC In order for the firm to earn positive economic profits the price of the good must be above what value? AVC price of a good: $ Price and cost What is the shutdown price for this firm? shutdown price: $ AFC 800.00 0 100 200 300 600 700 800 900 1,000 400...
Please answer the following 3 questions: QUESTION 1 In the short run, the perfectly competitive firm will always earn an economic profit when P MC. P ATC. P > AVC P > ATC. QUESTION 2 The demand curve faced by a perfectly competitive industry is horizontal slopes upward. has no slope. slopes downward. QUESTION 3 The short-run supply curve of a perfect competitor is its marginal revenue curve. its marginal cost curve equal to or above the minimum point on...