FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. In the short run, if price is greater than average variable cost but less than average total cost, the firm will A. shut down.

2. In the short run, if price is greater than average variable cost but less than average total cost, the firm will A. shut down. B. earn a normal profit. C. earn an economic profit. D. produce and cover the part of its average fixed cost reflected in the difference between ATC and AVC

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Managerial Economics

Fundamentals of Managerial Economics

Authors: Mark Hirschey

9th edition

324584830, 978-0324588781, 032458878X, 978-0324584837

More Books

Students also viewed these Economics questions

Question

★★★★★
What rules in the ABA Model Rules of Professional Conduct affect the unauthorized practice of law?

Answered: 1 week ago

Question

★★★★★
The viscosity of a certain fluid is \(5 \times 10^{-4}\) poise. Determine its viscosity in both SI and BG units.

Answered: 1 week ago

Question

★★★★★
=+samples were randomly selected from each treatment combination to be tested. The boxplots show the test results on compressive strength (in psi) for the three levels of alkali content and three...

Answered: 1 week ago

Question

★★★★★
As she headed toward her boss's office, Emily Hamilton, chief operating officer for the Aerocomp Corporation-a computer services firm that specialized in airborne support-wished she could remember...

Answered: 1 week ago

Question

★★★★★
2 questions Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct materials cost $2.70 per pound, and each unit requires 2...

Answered: 1 week ago

Question

★★★★★
In order to finance his university studies Nedan ran a business buying and selling organic health products via mail order. However, he now has to concentrate on his final examinations so he decides...

Answered: 1 week ago

Question

★★★★★
You flip a coin two times and then roll a 6-sided die. What is the probability you land on heads both times and then roll a number less than 5? Round to the nearest tenth of a percentage.

Answered: 1 week ago

Question

★★★★★
sin x 3. Show step by step how you use tan x = - COS X and the compound formulas for sine and cosine to produce the addition formula for tangent, tan(A + B) = tan A + tan B 1-tan Atan B [4 marks]

Answered: 1 week ago

Question

★★★★★
Solve both parts showing work and provide an explanation (Hint: Rationalize twice) (ii) Use the result of part (i) to evaluate (Hint: It's a one line solution using part (i).) lim H 2 19-2x+5-4 x-2...

Answered: 1 week ago

Question

★★★★★
Differentiate the function. r(z) = 2-8 - 21/2 r'(z) =

Answered: 1 week ago

Question

★★★★★
on list K Find the angle between v and w. v=-3i+2j, w=3i+9j estion 14 The angle between v and w is . (Do not round until the final answer. Then round to the nearest tenth as needed.) uestion 15...

Answered: 1 week ago

Question

★★★★★
Provide 3-5 specific examples of the behaviors and practices of an effective team leader.

Answered: 1 week ago

Question

★★★★★
7. One or other combination of 16.

Answered: 1 week ago

Question

★★★★★
1. Discuss the following statements: a) Mastery is not the same as understanding. b) Being bigger than is not the same as being the thing that is bigger. c) The difference between order and disorder...

Answered: 1 week ago

Question

★★★★★
5. It is the needs of the individual that are important.

Answered: 1 week ago

Previous Question Next Question