Top Posters
Since Sunday
g
3
2
J
2
p
2
m
2
h
2
s
2
r
2
d
2
l
2
a
2
s
2
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
trea48 trea48
wrote...
Go to Answer
Posts: 450
Rep: 0 0
4 years ago

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.
Textbook 
Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
Authors:
Read 427 times
14 Replies
Replies
Answer verified by a subject expert
eltoroeltoro
wrote...
#1
Posts: 375
Rep: 64 0
4 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

wrote...
#2
4 years ago

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.
wrote...
#3
4 years ago
-$900.
wrote...
#4
4 years ago
Exactly what I needed for my project, TYSM
wrote...
#5
4 years ago

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.
wrote...
#6
4 years ago
$300.
wrote...
#7
4 years ago

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.
wrote...
#8
4 years ago
$4.5.
wrote...
#9
4 years ago
I appreciate what you did here, answered it correctly Smiling Face with Open Mouth
wrote...
#10
4 years ago

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.
all is normal
wrote...
#11
4 years ago
$10.
wrote...
#12
4 years ago

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
wrote...
#13
4 years ago
be better off exiting the market and using the resources for other production activities.
  New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  802 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 1090
  
 2972
  
 1641
Your Opinion
What's your favorite funny biology word?
Votes: 328
Previous poll results: Do you believe in global warming?