Homework Answers
Ans) the correct option is d) MC curve above the minimum of the AVC curve.
Short run supply curve is the MC curve above the minimum of the AVC curve.
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edit econ - Google! The table above gives them + v 070/take C ) Options $12.00...
all of them Question 1 (1 point) A firm producing a positive output level, covering variable...
all of them
Question 1 (1 point) A firm producing a positive output level, covering variable costs but making a loss in the short run O may nonetheless be doing the nest it can with respect to its profits O should exit the industry O should definitely shut down O is not maximizing profits O should either expand or contract its plant size Question 2 (1 point) The perfectly competitive firm's profits can be calculated as O (MR-ATC)Q O (P-AVC-AFC)Q....
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.
Please answer the following 3 questions: QUESTION 1 In the short run, the perfectly competitive firm...
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...
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.
please answer all 16. To say that a firm is a price taker means that: a....
please answer all
16. To say that a firm is a price taker means that: a. the firm's demand curve is perfectly inelastic b. the firm's marginal revenue curve is downward sloping c. the firm's average total cost curve is horizontal d. the firm can alter its output without influencing price e. all of the above 17. In a perfectly competitive market, the demand curve facing the firm is: a. identical to the market demand curve b. perfectly clastic even...
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...
Please answer both of the following questions: Price мC ATC AVC В A Quantity/Week Refer to...
Please answer both of the following questions:
Price мC ATC AVC В A Quantity/Week Refer to the above figure. The competitive firm's short run supply curve starts at B and goes along the ATC curve as quantity increases. starts at B and goes along the MC curve as quantity increases. starts at A and goes along the AVC curve as quantity increases. starts at A and goes along the MC curve as quantity increases. QUESTION 14 A market structure in...
Please help with these questions Question 1 0.4 pts We could state correctly that the minimum...
Please help with these questions
Question 1 0.4 pts We could state correctly that the minimum characteristic necessary to distinguish among price-making firms is O the level of the concentration ratio. O whether they produce industrial or consumer products. O the number of firms in the industry O price discrimination. O product differentiation. Question 2 0.4 pts According to Section 2 of the Sherman Antitrust Act, a person who attempts to monopolize commerce among the several states is guilty of...
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 =...
18. In a perfectly competitive market, individual firms set: A) prices and quantities B) neither prices...
18. In a perfectly competitive market, individual firms set: A) prices and quantities B) neither prices nor quantities. C) quantiies but not prices D) prices but not quantities 19. The perfectly competitive firm faces a perfectly elastic demand curve because A) t has the ability to set the price and force everyone to buy at that price. it has no ability to control price. B) C) t doesn't; it faces a perfectly inelastic demand curve D) it doesn't; everyone knows...
all of them
Question 1 (1 point) A firm producing a positive output level, covering variable costs but making a loss in the short run O may nonetheless be doing the nest it can with respect to its profits O should exit the industry O should definitely shut down O is not maximizing profits O should either expand or contract its plant size Question 2 (1 point) The perfectly competitive firm's profits can be calculated as O (MR-ATC)Q O (P-AVC-AFC)Q....
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.
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...
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.
please answer all
16. To say that a firm is a price taker means that: a. the firm's demand curve is perfectly inelastic b. the firm's marginal revenue curve is downward sloping c. the firm's average total cost curve is horizontal d. the firm can alter its output without influencing price e. all of the above 17. In a perfectly competitive market, the demand curve facing the firm is: a. identical to the market demand curve b. perfectly clastic even...
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...
Please answer both of the following questions:
Price мC ATC AVC В A Quantity/Week Refer to the above figure. The competitive firm's short run supply curve starts at B and goes along the ATC curve as quantity increases. starts at B and goes along the MC curve as quantity increases. starts at A and goes along the AVC curve as quantity increases. starts at A and goes along the MC curve as quantity increases. QUESTION 14 A market structure in...
Please help with these questions
Question 1 0.4 pts We could state correctly that the minimum characteristic necessary to distinguish among price-making firms is O the level of the concentration ratio. O whether they produce industrial or consumer products. O the number of firms in the industry O price discrimination. O product differentiation. Question 2 0.4 pts According to Section 2 of the Sherman Antitrust Act, a person who attempts to monopolize commerce among the several states is guilty of...
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 =...
18. In a perfectly competitive market, individual firms set: A) prices and quantities B) neither prices nor quantities. C) quantiies but not prices D) prices but not quantities 19. The perfectly competitive firm faces a perfectly elastic demand curve because A) t has the ability to set the price and force everyone to buy at that price. it has no ability to control price. B) C) t doesn't; it faces a perfectly inelastic demand curve D) it doesn't; everyone knows...
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