A firm in a competitive market has a short run cost curve given by C = Q' - 100 + 100Q + 100. (a) If the market price is 100, this firm would choose to OProduce a positive quantity in the short run, but leave the market in the long run OProduce a positive quantity in the short run and stay in the market in the long run OProduce 0 in the short run and leave the market in the long run OProduce 0 in the short run and stay in the market in the long run (b) What is the minimum price at which this firm would continue to produce in the short run? ONone of these Oo O50 O25 O75
A firm in a competitive market has a short run cost curve given by C = Q' - 100 + 100Q + 100. (a) If the market price is 100, this firm would choose to OProduce a positive quantity in the short run, but leave the market in the long run OProduce a positive quantity in the short run and stay in the market in the long run OProduce 0 in the short run and leave the market in the long run OProduce 0 in the short run and stay in the market in the long run (b) What is the minimum price at which this firm would continue to produce in the short run? ONone of these Oo O50 O25 O75
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![A firm in a competitive market has a short run cost curve given by C = Q° - 100? + 100Q + 100.
(a) If the market price is 100, this firm would choose to
OProduce a positive quantity in the short run, but leave the market in the long run
OProduce a positive quantity in the short run and stay in the market in the long run
OProduce 0 in the short run and leave the market in the long run
OProduce 0 in the short run and stay in the market in the long run
(b) What is the minimum price at which this firm would continue to produce in the short run?
ONone of these
O50
O25
O75](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4552de81-541e-4892-abae-2958ee8f3f4d%2Fb2efa9ae-4207-4b5e-b296-7c08383a50f5%2Ff82o5ga_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A firm in a competitive market has a short run cost curve given by C = Q° - 100? + 100Q + 100.
(a) If the market price is 100, this firm would choose to
OProduce a positive quantity in the short run, but leave the market in the long run
OProduce a positive quantity in the short run and stay in the market in the long run
OProduce 0 in the short run and leave the market in the long run
OProduce 0 in the short run and stay in the market in the long run
(b) What is the minimum price at which this firm would continue to produce in the short run?
ONone of these
O50
O25
O75
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