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C) Refer to the graph above. The fim should shut down if the price falls below accept the total loss of and a. $3.00; -$800 b. $5.00; $760 c. $7.00; $500 d. $2.00; $500 | D) The firm's supply curve is: a. The portion of ATC curve above price of S5 c. The portion of MC curve above $3 b. The AVC curve above $4 d. The marginal cost curve above $5 Ela the long-run equilibrium, the fim will charge the price of output and eam - produce units of economic profit. a $3.00; 200; $600 in profit c. $7:00; 500; -$1,000o loss b. $5; 380; normal profit d. $9, 600; positive economic profit of $600 F) Refer to the graph above. How often, does the firm in the graph above engage in price discrimination? Why? A) Rarely B) Very often C) Always D) Never

C) Refer to the graph above. The fim should shut down if the price falls below accept the total loss of and a. $3.00; -$800 b. $5.00; $760 c. $7.00; $500 d. $2.00; $500 | D) The firm's supply curve is: a. The portion of ATC curve above price of S5 c. The portion of MC curve above $3 b. The AVC curve above $4 d. The marginal cost curve above $5 Ela the long-run equilibrium, the fim will charge the price of output and eam - produce units of economic profit. a $3.00; 200; $600 in profit c. $7:00; 500; -$1,000o loss b. $5; 380; normal profit d. $9, 600; positive economic profit of $600 F) Refer to the graph above. How often, does the firm in the graph above engage in price discrimination? Why? A) Rarely B) Very often C) Always D) Never

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Part D E F

C) Refer to the graph above. The firm should shut down if the price falls below accept the total loss of and a. $3.00; -$800 b. $5.00; $760 c. $7.00; $500 d. $2.00; $500 | D) The firm's supply curve is: a. The portion of ATC curve above price of $5 c. The portion of MC curve above $3 b. The AVC curve above $4 d. The marginal cost curve above $5 EIn the long-run equilibrium, the fim will charge the price of_ output and ean - produce units of economic profit. a. $3.00; 200; $600 in profit c. $7:00; 500; -$1,000o loss b. $5; 380; normal profit d. $9, 600; positive economic profit of $600 F) Refer to the graph above. How often, does the firm in the graph above engage in price discrimination? Why? A) Rarely B) Very often C) Always D) Never
Transcribed Image Text:C) Refer to the graph above. The firm should shut down if the price falls below accept the total loss of and a. $3.00; -$800 b. $5.00; $760 c. $7.00; $500 d. $2.00; $500 | D) The firm's supply curve is: a. The portion of ATC curve above price of $5 c. The portion of MC curve above $3 b. The AVC curve above $4 d. The marginal cost curve above $5 EIn the long-run equilibrium, the fim will charge the price of_ output and ean - produce units of economic profit. a. $3.00; 200; $600 in profit c. $7:00; 500; -$1,000o loss b. $5; 380; normal profit d. $9, 600; positive economic profit of $600 F) Refer to the graph above. How often, does the firm in the graph above engage in price discrimination? Why? A) Rarely B) Very often C) Always D) Never
QUESTION 2: Consider the cost curves for a perfectly competitive firm. MC $9.00 $8.00 $7.00 $6.00 ATC $5.00 $4.00 AVC $3.00 $2.00 $1.00 $0.00 100 200 300 400 380 480 500 600 Quantity A) Refer to the graph above. If market price of product is $7, the fim produces maximize profits. units to a. 380 b. 500 с. 600 d. 480 B) Refer to your answer above. At the profit maximizing output level, the firm makes a total profit (loss) of $ in the long-run: and the firm can expect a. $500; entry b. $480; entry c.$ 800; entry d. $0; no entry no exit Price, Cost
Transcribed Image Text:QUESTION 2: Consider the cost curves for a perfectly competitive firm. MC $9.00 $8.00 $7.00 $6.00 ATC $5.00 $4.00 AVC $3.00 $2.00 $1.00 $0.00 100 200 300 400 380 480 500 600 Quantity A) Refer to the graph above. If market price of product is $7, the fim produces maximize profits. units to a. 380 b. 500 с. 600 d. 480 B) Refer to your answer above. At the profit maximizing output level, the firm makes a total profit (loss) of $ in the long-run: and the firm can expect a. $500; entry b. $480; entry c.$ 800; entry d. $0; no entry no exit Price, Cost
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