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Home Q & A Board Other Fields Homework Help Business Economics
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ashleykali00 ashleykali00
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6 years ago
A firm sets its price at 10.00 per unit. It has an average variable cost of 8.00 and an average fixed cost of 4.00 per unit. In the short run, this firm is
 a. incurring a loss of 2.00 per unit and should shut down.
 b. unable to cover all of its fixed cost and hence should shut down.
 c. incurring a profit.
 d. incurring a loss per unit of 2.00, but since it can still cover its variable costs, should continue to operate

QUESTION 2

If Tom wants to not be hit, what strategy could he follow
 a. Threaten to not tell
  b. Always not tell
 c. Threaten to tell
 d. All of the above

QUESTION 3

A firm will shut down in the long-run if
 a. P>AVC
  b. P c. P=ATC
 d. P>ATC

QUESTION 4

What would be the Nash equilibrium of this simultaneous game?
 a. Hit, Tell
 b. Not hit, Tell
  c. Hit, Not tell
  d. Both B&C

QUESTION 5

A firm will shut down in the short-run if
 a. P>AVC
 b. P c. Profits<0
  d. P
QUESTION 6

If Tom does not tattle, what would Sarah's best response be
 a. Hit
 b. Not hit
  c. Run
 d. Hide
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robertoroberto
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#1
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6 years ago
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ashleykali00 Author
wrote...
#2
6 years ago
TYVM
wrote...
#3
6 years ago
no worries, happy to help out
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