b Answered: 3. Consider the x + x Problem Set #3 W ps_3_F19_603.docx G.You own four firms that MyUSF X Office Editing for Docs, Sheets & Slides chrome-extension://bpmcpldpdmajfigpchkicefoigmkfalc/views/app.html ps_3_F19_603.docx AShare Download File Edit Format Tools Help I U A Normal Times New ... 11 В Would a perfectly competitive firm facing these conditions stay in business in the short run? Demonstrate your answer on the graph by comparing the loss if it stayed open to the loss if it closed. Hint: don't forget that ATC AVC = AFC. 4. You own four firms that produce different products. The following table summarizes the conditions in each firm. First, calculate the missing numbers for each firm and fill in the table Firm MR TR Q ТC МC АTC AVC 11 20 200 5 В 3 1 100 1.5 2.5 2 С 4 2 200 2 7 D 5 10 70 5 Now, based on the table, match up each firm with one of the following four decisions. (i) decrease output А: B: (ii) shut down (iii) increase output С: D: (iv) continue producing the same output level 5:38

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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b Answered: 3. Consider the x +
x Problem Set #3
W ps_3_F19_603.docx
G.You own four firms that
MyUSF
X
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chrome-extension://bpmcpldpdmajfigpchkicefoigmkfalc/views/app.html
ps_3_F19_603.docx
AShare
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I U
A
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11
В
Would a perfectly competitive firm facing these conditions stay in business in the short run? Demonstrate
your answer on the graph by comparing the loss if it stayed open to the loss if it closed. Hint: don't forget
that ATC AVC = AFC.
4. You own four firms that produce different products. The following table summarizes the conditions in
each firm. First, calculate the missing numbers for each firm and fill in the table
Firm
MR
TR
Q
ТC
МC
АTC
AVC
11
20
200
5
В
3
1
100
1.5
2.5
2
С
4
2
200
2
7
D
5
10
70
5
Now, based on the table, match up each firm with one of the following four decisions.
(i) decrease output
А:
B:
(ii) shut down
(iii) increase output
С:
D:
(iv) continue producing the same output level
5:38
Transcribed Image Text:b Answered: 3. Consider the x + x Problem Set #3 W ps_3_F19_603.docx G.You own four firms that MyUSF X Office Editing for Docs, Sheets & Slides chrome-extension://bpmcpldpdmajfigpchkicefoigmkfalc/views/app.html ps_3_F19_603.docx AShare Download File Edit Format Tools Help I U A Normal Times New ... 11 В Would a perfectly competitive firm facing these conditions stay in business in the short run? Demonstrate your answer on the graph by comparing the loss if it stayed open to the loss if it closed. Hint: don't forget that ATC AVC = AFC. 4. You own four firms that produce different products. The following table summarizes the conditions in each firm. First, calculate the missing numbers for each firm and fill in the table Firm MR TR Q ТC МC АTC AVC 11 20 200 5 В 3 1 100 1.5 2.5 2 С 4 2 200 2 7 D 5 10 70 5 Now, based on the table, match up each firm with one of the following four decisions. (i) decrease output А: B: (ii) shut down (iii) increase output С: D: (iv) continue producing the same output level 5:38
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