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phoebe.lou phoebe.lou
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A year ago
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 1Firm 2
Quantity1000500
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
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Macroeconomics

Macroeconomics


Edition: 3rd
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wukong81wukong81
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A year ago
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phoebe.lou Author
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A year ago
Brilliant ツ
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Thanks
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This site is awesome
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