1. Given the following information of a perfectly competitive firm: -- Quantity at the profit-maximizing level = 10 -- ATC = $4.00 -- AVC = $3.50 9. The competitive firm is earning a profit if the market price is "at least" above ____.

none of the answers given is correct $3.10 $4.00 $4.90 $3.50

2. Refer to the information above. The competitive firm will operate at a loss but it will continue to operate if the market price is ____.

$3.75

$1.50

$3.49

none of the answers given is correct

$4.90

3. Refer to the information in #9 above. The competitive firm's shut down point is at ____.

none of the answers is correct

$1.50

$3.49

$3.5

$4.00

4. Refer to the information in #9 above. The competitive firm's supply curve is the portion of its ____ curve on / or above point ____.

Grup pilihan jawaban

MC ; $3.50

AVC ; $3.50

AVC ; $4.00

none of the answers given is correct

MC ; $4.00