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The Short Run Supply Curve and Shutting DownThe table shows the profit-maximizing quantity, variable ...

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The Short Run Supply Curve and Shutting DownThe table shows the profit-maximizing quantity, variable ...

The Short Run Supply Curve and Shutting Down

The table shows the profit-maximizing quantity, variable costs, and fixed costs for two different firms.

	Firm 1	Firm 2
Quantity	1000	500
Variable cost	$4500	$7500
Fixed cost	$392	$94

Assume that the market price is $9. In the short run:
Firm 1 will ________ (produce/shut down) with an economic ________ (profit/loss).
Firm 2 will ________ (produce/shut down) with an economic ________ (profit/loss).

▸ produce, loss, produce, loss

▸ produce, profit, shut down, loss

▸ shut down, loss, produce, profit

▸ shut down, loss, shut down, loss

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

Read 147 times

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Thank you, thank you, thank you!

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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