Title: Figure 9.1 shows the cost structure of a firm in a perfectly competitive market.
Post by: tarasen57 on Jul 20, 2019
Figure 9.1 shows the cost structure of a firm in a perfectly competitive market. If the market price is $40 and the firm is currently producing the profit maximizing output level, its total variable cost is:
▸ $12,500.
▸ $14,300.
▸ $19,800.
▸ $27,000.
Title: Figure 9.1 shows the cost structure of a firm in a perfectly competitive market.
Post by: yesimshay on Jul 20, 2019
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Title: Figure 9.1 shows the cost structure of a firm in a perfectly competitive market.
Post by: tarasen57 on Jul 20, 2019
Thank you for answering so quickly
Title: Figure 9.1 shows the cost structure of a firm in a perfectly competitive market.
Post by: stevengu246 on Jul 20, 2019
Figure 9.1 shows the cost structure of a firm in a perfectly competitive market. If the market price is $40 and the firm is currently producing the profit maximizing output level, its total fixed cost is:
▸ $2,800.
▸ $5,200.
▸ $7,200.
▸ $9,000.
Title: Figure 9.1 shows the cost structure of a firm in a perfectly competitive market.
Post by: coltonf1 on Jul 20, 2019
$7,200.
Title: Figure 9.1 shows the cost structure of a firm in a perfectly competitive market.
Post by: Coltonht on Jul 20, 2019
Figure 9.1 shows the cost structure of a firm in a perfectly competitive market. If the market price is $40 and the firm is currently producing the profit maximizing output level, the firm's profit is:
▸ $7,200.
▸ $9,000.
▸ $27,000.
▸ $36,000.
Title: Figure 9.1 shows the cost structure of a firm in a perfectly competitive market.
Post by: Steve Trainer on Jul 20, 2019
$9,000.
Title: Figure 9.1 shows the cost structure of a firm in a perfectly competitive market.
Post by: Coltonht on Jul 20, 2019
Smart ... Thanks!
Title: Figure 9.1 shows the cost structure of a firm in a perfectly competitive market.
Post by: seeb1999 on Jul 20, 2019
Figure 9.1 shows the cost structure of a firm in a perfectly competitive market. If the firm's fixed cost increases by 3,000 due to a new government regulation:
▸ the marginal cost curve shifts upward.
▸ the average total cost curve shifts upward.
▸ the average variable cost curve shifts upward.
▸ none of the above
Title: Figure 9.1 shows the cost structure of a firm in a perfectly competitive market.
Post by: rinderbik on Jul 20, 2019
the average total cost curve shifts upward.