Question

question 7:

BTake Test Untitled doci eSchool S0 (14) 528HZ 2Black Womer C Search Text Teespring La X G As long as EAssignments X X X X https://bbhosted.cuny.edu/webapps/assessment/take/launch.jsp?course_assessment-id-_1273043 1&course_id=_1726735_1&content_id=_40866091 1&step-null Question Completion Status the revenue gained by producing one more unit of output is less than the cost incurred by doing so. The firm is already maximizing profits because revenue is being increased by more than costs. QUESTION 7 1 points Save Answor As long as price Is sufficient to cover the firm is better off by operating rather than by shucting down marginal cost average fixed cost average variable cost marginal revenue OUESTION 8 1 points Save Answer fcunsumers switch fram beef t chicken, which of the follawing is mas likely to Assume that the market for beef is perfectly cumpetitive. Beef pruducers are currently earning a zeru ecunuic profit occur? Beef producers will now incur economic losses in both the short run and the long run. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Clase Window 5ave and Submit

question 14:

Answer 1

Average variable cost

As long as P is greater than AVC firm should not shut down.

- B

Shut point is where MC cuts AVC.