Need asap please. Firm AFim BPrice andCost(dolars)Price andCost(dolars)MCMCATC11111010AVCATCAVC100 150 200Quantity15070 90 100QantityO764.2.O70 - Which of the following is true in the short run of A and B, two perfectly competitivefirms?a) Both A and B will continue to produce in the short run.b) Firm A will continue to produce and Firm B will shut down in the short run.c) Firm A will shut down and Firm B will continue to produce in the short run.d) Firm A will continue to produce in the short run and shut down in the longrun.e) none of the answers are right

In perfect competition market there are large numbers of sellers and buyers firm homogeneous product…

Answered: Price and Cost (dolars) Price and Cost…

Price and Cost (dolars) Price and Cost (dolars) MC MC ATC 11 11 10 10 AVC ATC 7. AVC 100 150 200 Quantity 70 90 100 150 Quantity O76

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

Need asap please.

Firm A
Fim B
Price and
Cost
(dolars)
Price and
Cost
(dolars)
MC
MC
ATC
11
11
10
10
AVC
ATC
AVC
100 150 200
Quantity
150
70 90 100
Qantity
O76
4.
2.
O70 -

Which of the following is true in the short run of A and B, two perfectly competitive
firms?
a) Both A and B will continue to produce in the short run.
b) Firm A will continue to produce and Firm B will shut down in the short run.
c) Firm A will shut down and Firm B will continue to produce in the short run.
d) Firm A will continue to produce in the short run and shut down in the long
run.
e) none of the answers are right

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