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tarasen57 tarasen57
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4 years ago



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.
Textbook 
Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
Authors:
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yesimshayyesimshay
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4 years ago
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tarasen57 Author
wrote...
#2
4 years ago
Thank you for answering so quickly
wrote...
#3
4 years ago



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.
wrote...
#4
4 years ago
$7,200.
wrote...
#5
4 years ago



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.
wrote...
#6
4 years ago
$9,000.
wrote...
#7
4 years ago
Smart ... Thanks!
wrote...
#8
4 years ago



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
wrote...
#9
4 years ago
the average total cost curve shifts upward.
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