A firm should increase the quantity of output as long as its     marginal revenue is greater than its marginal cost.        marginal cost is greater than its marginal revenue.        average revenue is greater than its average total cost.        average revenue is greater than its average variable cost.

Q: Price, marginal revenue, marginal cost, average total cost W D B U MC J KL ATC a) The firm's…

A:

Q: A bookstore sells 90 textbooks at a price of $70 a book. The average total cost is $50 per textbook.…

A: Given that : Number of textbooks = 90 Price of a book = $ 70 Average total cost = $ 50

Q: If a firm is producing at a quantity in which the marginal cost exceeds marginal revenue, the firm…

A: A firm will maximize profit where marginal revenue is equal to marginal cost.

Q: A competitive firm is maximizing its profit by selling 150 units of output. The firm’s marginal cost…

A: The objective of the question is to calculate the profit of a competitive firm that is maximizing…

Q: Long-run average total cost (Multiple Choices )     might have an upward-sloping segment that…

A: Long run average total cost is the long run cost per unit. Economies of scale refer to the situation…

Q: Find price, quantity, and profit. Fixed cost: 300 MR = 64-4q mc= 4q p=64-2q

A: Given information: Fixed cost = 300 MR = 64 - 4q MC = 4q p = 64 - 2q -------------------------

Q: n the short run a firm can minimize costs by shutting down. minimize costs by going out of business.…

A: The firm will continue to produce in the short run as long as it is able to recover the variable…

Q: Calculate the marginal revenue when marginal profit is $23 and the marginal cost is $78

A: # Marginal revenue is the additional revenue generated with the sale of an another unit of good and…

Q: In economics, profit         revenue         marginal…

A: The question is asking to identify the term used in economics to describe small incremental changes…

Q: A firm has the following revenue and cost functions. TR = 60 Q – Q2 TC =1⁄2Q2 +30Q +30 Determine…

A: Profits = Total Revenue - Total Cost Profit is maximium when: marginal revenue = marginal cost

Q: If a firm shuts down, it A) makes zero economic profit. B) incurs an economic loss equal to its…

A: Total cost is the sum of variable cost and the fixed cost. Fixed cost is the cost that remains same…

Q: Calculate the economic profit at the profit-maximizing quantity you identified in part (a). Show…

A: An economic profit or loss is the difference between the revenue gained from the sale of an output…

Q: Find output produced by the firm if total revenue is $4000 and the average revenue is $80

A: The data presented in the question above is:- Total revenue = $4000 Average revenue = $80 Output is…

Q: Marginal profit is $4 and marginal revenue is $39 Calculate marginal cost

A: Given: Marginal profit=$4 Marginal revenue=$39 To find: Marginal cost

Q: We expect the marginal cost to increase as this firm produces more computers. But when the firm…

A: The rise or fall in the cost of producing/providing one more product is referred to as marginal…

Q: Calculate the value of Marginal revenue when marginal cost is $73 and the marginal profit is 0

A: # the marginal profit is given as the difference between the marginal revenue which is collected by…

Q: In order to maximize profit, the firm will choose to produce where marginal revenue is equal to…

A: Marginal Revenue refers to the additional revenue earned by producing an additional unit of output.…

Q: If marginal profit is $32 and marginal revenue is $50 Find Marginal cost

A: The data presented In the question above is:- Marginal profit = $32  Marginal revenue = $50…

Q: Marginal revenue must exceed marginal cost.Explain why?

A: Total revenue is the total receipts collected from the sale of goods or services in the market. The…

Q: You operate a business subject to Perfect Competition.  The price of the good is P =40, your…

A: Given, Price (P) = 40 MC = 10 + 0.05Q Fixed costs = 5000

Q: A firm has fixed costs of $80,000 associated with the manufacture of lawn mowers that cost $200 per…

A: Total cost is the sum of Fixed and variable cost. Total revenue is price multiplied by quantity.…

Q: Question 6.6.   A firm should increase the quantity of output as long as its  marginal revenue is…

A: In a firm, there are several costs and revenues related to the accounting procedure. The marginal…

Q: Currently the firm is producing at a profit maximizing quantity of output and has a total revenue of…

A: Marginal cost is the additional cost of producing one more unit of a good. Marginal revenue is the…

Q: Variable costs usually change as the firm alters the quantity of output produced. True False

A: A variable cost  may be a company expense that changes in proportion to what proportion a…

Q: If a firm is producing at a quantity in which the marginal cost exceeds marginal revenue, the firm…

A: A firm will maximise profit where marginal revenue is equal to marginal cost.

Q: Suposse a munufacture of widgets has a fixcost of $2500, a variable cost of $30 per widget ans sell…

A: Costs are the expenses that a firm has to incur in its production activities. Revenue, on the other…

Q: Find marginal profit when marginal revenue is $90 and marginal cost $50

A: # The formula for marginal profit:- = Marginal revenue - Marginal cost

Q: Suppose a firm producing cell phones is operating such that marginal costs are much lower than…

A: The marginal cost of the firm is the cost it will incur by producing one additional unit of output.…

Q: Average fixed cost decreases as quantity increases. True False

A: Total fixed cost(TFC) is the cost(C) which remains fixed in the short-run. For example: cost(C)…

Q: If a perfectly competitive firm's average total cost is less than the price, then the firm A) incurs…

A: A perfectly competitive market is the one where there are large number of buyers and sellers selling…

Q: If marginal profit is $17 and marginal revenue is $41  Find the value of Marginal cost

A: The given information is as follows:- Marginal profit = $17  Marginal revenue = $41 We have to…

Q: A profit-seeking firm should expand its output so long as: O marginal revenue exceeds marginal cost…

A: In the market, different types of firm has differences in their production and pricing decision. A…

Q: What is the fixed cost, when output is 1, total cost is 7, total revenue is 10, average revenue is…

A: Cost:Cost is defined as the expenditure. It is expressed in terms of money value in the production…