Total Cost Variable Cost Quantity (dollars) (dollars) $800 $0 100 1,260 200 1,660 300 2,560 400 3,560 500 4,400 Table 12-1 shows the short-run cost data of a perfectly competitive fırm that produces plastic camera cases. Assume that output can only be increased in batches of 100 units. Refer to Table 12-1. If the market price of each camera case is $9 and the firm maximizes profit, What will happen in this market in the long run? Production will decrease because of the war in Ukraine

Total Cost Variable Cost Quantity (dollars) (dollars) $800 $0 100 1,260 200 1,660 300 2,560 400 3,560 500 4,400 Table 12-1 shows the short-run cost data of a perfectly competitive fırm that produces plastic camera cases. Assume that output can only be increased in batches of 100 units. Refer to Table 12-1. If the market price of each camera case is $9 and the firm maximizes profit, What will happen in this market in the long run? Production will decrease because of the war in Ukraine

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 8SQP

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