A monopolist will shut down when _________in the long run and _________in the short run.
P > ATC; P > ATC
P < ATC; P < AVC
P = ATC; P = ATC
P < ATC; P > AVC
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A monopolist will shut down when _________in the long run and _________in the short run. P...
1) This monopolist earns $________profit per
unit (numeric and sign) when it maximizes its
profit.
2) What time period of production is this monopolist operating
in?
a) Short run
b) market period
c) long run
d) short or long run
3) Which of the following best describes what the monopolist
should do in this situation?
a) Raise its price.
b) Lower its price.
c) It should...
If the shut-down rule for firms on the competitive market, p < AVC, is the same in the short run and the long run, explain why the shut-down prices may be different?
n the long run, all of the following are true for a monopolist EXCEPT A. P > AVC. B. P = MC. C. P > ATC. D. MR = MC.
A firm will shut down in long-run if the a. Firm is making zero economic profits. b. Price is anywhere above the the minimum average variable cost (AVC) c. Price is above the minimum average total cost (ATC) d. Price is equal to the minimum average total cost (ATC) e. Price is anywhere below the minimum average total cost (ATC)
Explain the monopolist Describe and/or analyze graphically the firm’s profit-maximizing,Break-even, and shut-down conditions Describe the short and long run market conditions Explain what a “natural monopoly” is Describe limits on monopoly power
The permanent shut down point of a perfectly competitive firm, in the long run, is: Select one: a. the minimum point of the MC curve. b. the minimum point of the AFC curve. c. the minimum point of the ATC curve. the minimum point of the AVC curve the minimum point of the AR curve. Spage Finish attempt W 4 5 6 7
In the short run, a perfectly competitive firm is producing where MR-MC. At this output, P>AVC and P>ATC. This firm A) is making positive economic profits B) is making zero economic profits C) is making negative economic profits but should continue to operate D) is making negative economic profits and should shut down.
A monopolistic firm will shut down if A. P > ATC for every level of output. B. P < AVC for every level of output. C. P < ATC for every level of output. D. P > AVC for every level of outpu
8. In the short run, a perfectly competitive firm will shut down if it is producing a level of output where marginal revenue is equal to short-run marginal cost and price is A. Greater than average total cost. B. Less than average total cost. C. Greater than average variable cost. D. Less than average variable cost E. None of the above 10. Given your answer to Question 8, what can you say about Hanna's firm: A. It should continue operating...
Question 1. Suppose you are a consultant for a monopolist that asks for its policies in the short run. (raise, cut, shut down, or stay put) and price changes (raise, cut, or stay put) in each of the following situations: [4 points] an assessment of What would you recommend in terms of quantity changes MR $152 P $157 MC $157 AVC $158 a. - b. [4 points] P S210 MC $210 AVC $212 [4 points] P S156 MC $156 ATC...