can you help me answer these question with EXPLANATION? I am very confused with them :(
WE Answer the next question on the basis of the following data faced by a perfectly competitive firm Q Home Insert Draw Design Layout References Mailings Review View ? Tell me Share Comments Times New... ~ 12 A" A Aa Ap E EEVEE AaBbCcDdEe AaBbCcDdEe AaBbCcDc AaBbCcDdEe AaBb( AaBbCcDdEe AaBbCcDdEe Paste BI Uvab X x A LA Normal No Spacing Heading 1 Heading 2 Title Subtitle Subtle Emph Styles Dictate Pane Question 1: Answer the next question on the basis of the following data faced by a perfectly competitive firm. Output Marginal Revenue Marginal Cost 10 $16 $10 16 9 16 13 16 17 16 21 If the firm's minimum average variable cost is $10, the firm's profit-maximizing level of output would be Multiple Choice 2. 3. 4. 5. Page 1 of 3 306 words English (United States) Focus E + 183%WE Answer the next question on the basis of the following data faced by a perfectly competitive firm Q Home Insert Draw Design Layout References Mailings Review View ? Tell me Share Comments Times New... ~ 12 " A" A Aa Po AaBbCcDdEe AaBbCcDdEe AaBbCcDc AaBbCcDdE AaBb( AaBbCcDdEe AaBbCcDdEe Paste BIUbX x A LA. Normal No Spacing Heading 1 Heading 2 Title Subtitle Subtle Emph Styles Dictate Pane Question 2: A firm sells a product in a perfectly competitive market. The marginal cost of the product at the current output level of 500 units is $1.50. The market price of the product is $1.50 and the minimum possible average variable cost is $1. To maximize profits, the firm should Multiple Choice continue producing 500 units. Correct . decrease production to less than 500 units. increase production to more than 500 units. shut down. Question 3: Use the following graph for a perfectly competitive firm generating a loss in the short run to answer the next question. $ Mc ATC AVC e MR O g Q Which area in the graph represents the portion of total cost that the firm can recoup by continuing to produce rather than shutting down? Multiple Choice Obeg . . Ocdg acdf . abef Page 2 of 4 299 words English (United States) Focus E + 183%WE Answer the next question on the basis of the following data faced by a perfectly competitive firm Q Home Insert Draw Design Layout References Mailings Review View ? Tell me Share Comments Times New... ~ 12 A A Aa Po REEVEVEE 24 T AaBbCcDdEe AaBbCcDdEe AaBbCcDc AaBbCcDdE:| AaBb( AaBbCcDdE: AaBbCcDdEe Paste BIUvab X x A LA Normal No Spacing Heading 1 Heading 2 Title Subtitle Subtle Emph Styles Dictate Pane question 4: Use the following graphs for a perfectly competitive market in the short run to answer the next question. $ MC P S ATC D 0 Q 0 Q Firm Industry The graphs suggest that in the long run, as automatic market adjustments occur, the demand faced by the perfectly competitive firm will Multiple Choice shift up. . shift down. not shift. . slope downward. Page 3 of 4 299 words English (United States) Focus E + 183%WE Answer the next question on the basis of the following data faced by a perfectly competitive firm Q Home Insert Draw Design Layout References Mailings Review View ? Tell me Share Comments Times New... ~ 12 A" A Aa Ap EVEEVENT AaBbCcDdEe AaBbCcDdEe AaBbCcDc AaBbCcDdE AaBb( AaBbCcDdEe AaBbCcDdEe Paste BI Uvab X x A LA Normal No Spacing Heading 1 Heading 2 Title Subtitle Subtle Emph Styles Dictate Pane Question 4: Use the following graph to answer the next question. MC ATC Costs and Revenues 1.25 AVC 1.05 90 30 15 20 35 Quantity The graph shows the cost curves for a perfectly competitive firm. If the market price of the product is $1.25 per unit, then the firm will earn how much in profits/losses in the short run? Multiple Choice $9 -$9 -$12 $25 Page 4 of 4 295 words English (United States) Focus E + 183%
