In the table below, the firm;Output Total Revenue Total Cost$0$30$60$90$120$150$180$25$49$69$91$117$147$180O a. cannot be in a perfectly competitive industry, because its short-run economic profitsare greater than zero.O b. must be in a perfectly competitive industry, because its marginal cost curveeventually rises.O c. cannot be in a perfectly competitive industry, because its long-run economic profitsare greater than zeroO d. must be in a perfectly competitive industry, because its marginal revenue is constant.123 456

We have to find answer following table below.

In the táblé bélów, the firm; Output Total Revenue Total Cost $25 $49 $69 0. $0 $30 $60 3 $90 $120 $150 $180 $91 $117 $147 $180 6. O a. cannot be in a perfectly competitive industry, because its short-run econon are greater than zero.

In the táblé bélów, the firm; Output Total Revenue Total Cost $25 $49 $69 0. $0 $30 $60 3 $90 $120 $150 $180 $91 $117 $147 $180 6. O a. cannot be in a perfectly competitive industry, because its short-run econon are greater than zero.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In the table below, the firm;
Output Total Revenue Total Cost
$0
$30
$60
$90
$120
$150
$180
$25
$49
$69
$91
$117
$147
$180
O a. cannot be in a perfectly competitive industry, because its short-run economic profits
are greater than zero.
O b. must be in a perfectly competitive industry, because its marginal cost curve
eventually rises.
O c. cannot be in a perfectly competitive industry, because its long-run economic profits
are greater than zero
O d. must be in a perfectly competitive industry, because its marginal revenue is constant.
123 456

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