Title: Figure 9.3 shows the cost structure of a firm in a perfectly competitive market.
Post by: trea48 on Jul 20, 2019
Figure 9.3
Figure 9.3 shows the cost structure of a firm in a perfectly competitive market. If the market price is $3 and the firm produces the output where MR = MC, its profit is:
▸ -$300.
▸ -$600.
▸ -$900.
▸ -$1,200.
Title: Figure 9.3 shows the cost structure of a firm in a perfectly competitive market.
Post by: eltoro on Jul 20, 2019
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Title: Figure 9.3 shows the cost structure of a firm in a perfectly competitive market.
Post by: Lighting2551 on Jul 20, 2019
Figure 9.3
Figure 9.3 shows the cost structure of a firm in a perfectly competitive market. If the market price is $3 and the firm shuts down in the short run, its profit is:
▸ -$300.
▸ -$600.
▸ -$900.
▸ -$1,200.
Title: Figure 9.3 shows the cost structure of a firm in a perfectly competitive market.
Post by: crdsa on Jul 20, 2019
-$900.
Title: Figure 9.3 shows the cost structure of a firm in a perfectly competitive market.
Post by: Lighting2551 on Jul 20, 2019
Exactly what I needed for my project, TYSM
Title: Figure 9.3 shows the cost structure of a firm in a perfectly competitive market.
Post by: shayeshaye00 on Jul 20, 2019
Figure 9.3
Figure 9.3 shows the cost structure of a firm in a perfectly competitive market. If the market price is $3 and the firm is currently producing 100 units. If the firm produces zero unit in the short run, it will reduce its economic loss by:
▸ $300.
▸ $600.
▸ $900.
▸ $1,200.
Title: Figure 9.3 shows the cost structure of a firm in a perfectly competitive market.
Post by: Mtoney9 on Jul 20, 2019
$300.
Title: Figure 9.3 shows the cost structure of a firm in a perfectly competitive market.
Post by: Villerys39 on Jul 20, 2019
Figure 9.3
Figure 9.3 shows the cost structure of a firm in a perfectly competitive market. The price at which the firm is just as well off either operating or shutting down is:
▸ $3.
▸ $4.5.
▸ $6.
▸ $10.
Title: Figure 9.3 shows the cost structure of a firm in a perfectly competitive market.
Post by: meigsfla on Jul 20, 2019
$4.5.
Title: Figure 9.3 shows the cost structure of a firm in a perfectly competitive market.
Post by: Villerys39 on Jul 20, 2019
I appreciate what you did here, answered it correctly :D
Title: Figure 9.3 shows the cost structure of a firm in a perfectly competitive market.
Post by: david fabos on Jul 20, 2019
Figure 9.3
Figure 9.3 shows the cost structure of a firm in a perfectly competitive market. The firm will stay in the market in the long run only if the market price is greater than or equal to:
▸ $4.5.
▸ $6.
▸ $10.
▸ $15.
Title: Figure 9.3 shows the cost structure of a firm in a perfectly competitive market.
Post by: dnlee1 on Jul 20, 2019
$10.
Title: Figure 9.3 shows the cost structure of a firm in a perfectly competitive market.
Post by: dillon_green23 on Jul 20, 2019
Figure 9.3
Figure 9.3 shows the cost structure of a firm in a perfectly competitive market. If the market price is $6, then the firm will:
▸ be better off producing 150 units than shutting down.
▸ be better off shutting down in the short run and waiting until the market price rises above $10.
▸ be better off exiting the market and using the resources for other production activities.
▸ none of the above
Title: Figure 9.3 shows the cost structure of a firm in a perfectly competitive market.
Post by: urbacore on Jul 20, 2019
be better off exiting the market and using the resources for other production activities.
Title: Figure 9.3 shows the cost structure of a firm in a perfectly competitive market.
Post by: dillon_green23 on Jul 20, 2019
You make an excellent tutor!