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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

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
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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 -
Transcribed Image Text: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
Transcribed Image Text: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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