SA C Long-Run AC 1 Output Refer to the diagram. If a firm produces output Q₁ at a unit cost of b, then the Refer to the diagram. If a firm produces output Q₁ at a unit cost of b, then the Multiple Choice firm is not fulfilling the least-cost rule in employing resources. О firm may or may not be maximizing profits. О marginal product per dollars' worth of each resource employed is not the same. firm has achieved minimum efficient scale.

A computer company produces affordable, easy-to-use home computer systems and has fixed costs of 250. The marginal cost of producing computers is 700 for the first computer, 250 for the second, 300 for the third, 350 for the fourth, 430 for the fifth, 450 for the sixth, and 500 for the seventh. Create a table that shows the companys output, total cost, marginal cost, average cost, variable cost, and average variable cost. At what price is the zero-profit point? At what price is the shutdown point? If the company sells the computers for 500, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVG curves to illustrate your answer and show the profit or loss. If the firm sells the computers for 300, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVG curves to illustrate your answer and show the profit or loss.

Would you consider an interest payment on a loan to a film an explicit or implicit cost?

What two lines on a cost curve diagram intersect at the zero-profit point?

According to the accompanying table, what quantity of output should the firm produce? Explain your answer.

Why will profits for films in a perfectly competitive industry tend to vanish in the long run?