Which firm(s) is/are incurring losses? None of these firms FIRM I Output P AC AFC AVC 1 15 23 10 13 2 15 15 5 10 15 15 3.33 11.67 15 17.5 2.5 15 15 21 2 19 Price and costs are in thousand pesos 3 4 5 Output 1 2 3 4 3 15 15 15 15 5 15 21 Price and costs are in thousand pesos 4 5 P FIRM III Output AC 2 3 4 5 25287 21 19 20 Output P AC AFC AVC 15 26 11 15 15 18 23.5 5.5 15 21.67 3.67 18 22.75 2.75 20 15 15 23 2.2 20.8 Price and costs are in thousand pesos AFC AVC 12 16 6 15 15 17 2.4 18.6 432 FIRM IV FIRM II P AC AFC AVC 15 11 5 6 7.5 15 11 2.5 15 11.67 1.67 10 15 13 1.25 11.75 13 15 14 1 Price and costs are in thousand pesos MC 13 7223 15 25 6H133 35 MC 14 15 23 25 MC 15 21 18 26 24 MC 6 11 15 17 18
Which firm(s) is/are incurring losses? None of these firms FIRM I Output P AC AFC AVC 1 15 23 10 13 2 15 15 5 10 15 15 3.33 11.67 15 17.5 2.5 15 15 21 2 19 Price and costs are in thousand pesos 3 4 5 Output 1 2 3 4 3 15 15 15 15 5 15 21 Price and costs are in thousand pesos 4 5 P FIRM III Output AC 2 3 4 5 25287 21 19 20 Output P AC AFC AVC 15 26 11 15 15 18 23.5 5.5 15 21.67 3.67 18 22.75 2.75 20 15 15 23 2.2 20.8 Price and costs are in thousand pesos AFC AVC 12 16 6 15 15 17 2.4 18.6 432 FIRM IV FIRM II P AC AFC AVC 15 11 5 6 7.5 15 11 2.5 15 11.67 1.67 10 15 13 1.25 11.75 13 15 14 1 Price and costs are in thousand pesos MC 13 7223 15 25 6H133 35 MC 14 15 23 25 MC 15 21 18 26 24 MC 6 11 15 17 18
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 of the firms are incurring losses?
![Which firm(s) is/are incurring losses?
□
U
None of these firms
Output P
1
15
15
15
15
15
Price and costs are in thousand pesos
2
3
4
5
Output
1
2
3
4
5
P
Output P
1
2
3
4
5
FIRM I
AC AFC AVC
23 10 13
15
5
10
15 3.33 11.67
17.5 2.5 15
21 2 19
15
15
15
15
15
15
15
15
15
Price and costs are in thousand pesos
FIRM III
AC
Output P
1
15
2
15
3
15
4
15
5
21
19
20
21
AFC AVC
12
16
6
15
4
15
3
17
2.4 18.6
FIRM IV
15
Price and costs are in thousand pesos
FIRM II
AC AFC AVC
11
5
6
11 2.5
7.5
11.67 1.67 10
13 1.25 11.75
15
14
13
1
Price and costs are in thousand pesos
MC
13
7
15
25
35
AC AFC AVC MC
26 11
15
23.5 5.5
18
21.67 3.67 18
22.75 2.75 20
23 2.2 20.8
MC
16
14
15
23
25
15
21
18
26
24
MC
6
11
15
17
18](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa7c76409-218a-45c1-a965-51174187fb6c%2F20db1695-4d5b-4a1d-b3dd-c780b2e86e94%2Fgo9iy6l_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Which firm(s) is/are incurring losses?
□
U
None of these firms
Output P
1
15
15
15
15
15
Price and costs are in thousand pesos
2
3
4
5
Output
1
2
3
4
5
P
Output P
1
2
3
4
5
FIRM I
AC AFC AVC
23 10 13
15
5
10
15 3.33 11.67
17.5 2.5 15
21 2 19
15
15
15
15
15
15
15
15
15
Price and costs are in thousand pesos
FIRM III
AC
Output P
1
15
2
15
3
15
4
15
5
21
19
20
21
AFC AVC
12
16
6
15
4
15
3
17
2.4 18.6
FIRM IV
15
Price and costs are in thousand pesos
FIRM II
AC AFC AVC
11
5
6
11 2.5
7.5
11.67 1.67 10
13 1.25 11.75
15
14
13
1
Price and costs are in thousand pesos
MC
13
7
15
25
35
AC AFC AVC MC
26 11
15
23.5 5.5
18
21.67 3.67 18
22.75 2.75 20
23 2.2 20.8
MC
16
14
15
23
25
15
21
18
26
24
MC
6
11
15
17
18
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