Which firm(s) can close shop to avoid further losses? 0 Output P 1 15 2 15 3 15 4 M 15 15 Price and costs are in thousand pesos 0 0 5 Output 1 FIRM II P AC AFC AVC 15 11 5 6 15 7.5 15 10 15 13 1.25 11.75 15 14 1 13 Price and costs are in thousand pesos 2 3 4 5 Output 1 2 3 FIRM I AC AFC AVC 23 10 13 15 S 10 15 3.33 11.67 17.5 2.5 15 21 2 19 4 P 11 2.5 11.67 1.67 15 15 15 15 5 15 Price and costs are in thousand pesos 4 S FIRM III AC 28 21 None of these firms. 19 20 21 AFC AVC FIRM IV 12 6 4 16 15 15 17 3 2.4 18.6 Output P 1 15. 2 15 3 15 15 20 15 23 2.2 20.8 Price and costs are in thousand pesos. MC 13 7 15 25 35 MC 6 AC AFC AVC MC 26 11 15 15 23.5 5.5 18 21 21.67 3.67 18 18 22.75 2.75 26 24 GASTR 11 15 17 18 MC 16 14. 15 23 25
Which firm(s) can close shop to avoid further losses? 0 Output P 1 15 2 15 3 15 4 M 15 15 Price and costs are in thousand pesos 0 0 5 Output 1 FIRM II P AC AFC AVC 15 11 5 6 15 7.5 15 10 15 13 1.25 11.75 15 14 1 13 Price and costs are in thousand pesos 2 3 4 5 Output 1 2 3 FIRM I AC AFC AVC 23 10 13 15 S 10 15 3.33 11.67 17.5 2.5 15 21 2 19 4 P 11 2.5 11.67 1.67 15 15 15 15 5 15 Price and costs are in thousand pesos 4 S FIRM III AC 28 21 None of these firms. 19 20 21 AFC AVC FIRM IV 12 6 4 16 15 15 17 3 2.4 18.6 Output P 1 15. 2 15 3 15 15 20 15 23 2.2 20.8 Price and costs are in thousand pesos. MC 13 7 15 25 35 MC 6 AC AFC AVC MC 26 11 15 15 23.5 5.5 18 21 21.67 3.67 18 18 22.75 2.75 26 24 GASTR 11 15 17 18 MC 16 14. 15 23 25
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter13: Firms In Competitive Markets
Section: Chapter Questions
Problem 7PA
Related questions
Question
which firm/s can close already to avoid futher loss?
![Which firm(s) can close shop to avoid further losses?
FIRM I
P
AC AFC AVC
15
23
10
13
15
15
S
10
15
15 3.33 11.67
15
17.5 2.5
15
15
21 2
19
Price and costs are in thousand pesos
Output
1
2
3
4
5
FIRM II
Output P
AC AFC
AVC
1
15
5
6
2
15
2.5
7.5
3
15
11.67 1.67
10
15
13 1.25 11.75
14 1
13
15
Price and costs are in thousand pesos
4
5
Output
1
2
3
4
P
15
15
15
15
15
Price and costs are in thousand pesos
Output P
1
2
3
FIRM III
None of these firms
4
AC
S
28
21
19
20
21
AFC AVC
FIRM IV
12
16
6
15
4
15
3
17
2.4 18.6
AC AFC AVC
15
15
15
15
15
Price and costs are in thousand pesos
26 11
15
23.5 5.5
18
21.67 3.67
18
22.75 2.75
20
23 2.2 20.8
MC
13
7
15
25
35
MC
6
11
15
17
18
MC
16
14
15
23
25
MC
15
21
18
26
24](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa7c76409-218a-45c1-a965-51174187fb6c%2Fe41710bc-cea5-4116-8165-37484bd0a4e6%2Fg625k4_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Which firm(s) can close shop to avoid further losses?
FIRM I
P
AC AFC AVC
15
23
10
13
15
15
S
10
15
15 3.33 11.67
15
17.5 2.5
15
15
21 2
19
Price and costs are in thousand pesos
Output
1
2
3
4
5
FIRM II
Output P
AC AFC
AVC
1
15
5
6
2
15
2.5
7.5
3
15
11.67 1.67
10
15
13 1.25 11.75
14 1
13
15
Price and costs are in thousand pesos
4
5
Output
1
2
3
4
P
15
15
15
15
15
Price and costs are in thousand pesos
Output P
1
2
3
FIRM III
None of these firms
4
AC
S
28
21
19
20
21
AFC AVC
FIRM IV
12
16
6
15
4
15
3
17
2.4 18.6
AC AFC AVC
15
15
15
15
15
Price and costs are in thousand pesos
26 11
15
23.5 5.5
18
21.67 3.67
18
22.75 2.75
20
23 2.2 20.8
MC
13
7
15
25
35
MC
6
11
15
17
18
MC
16
14
15
23
25
MC
15
21
18
26
24
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