Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 23, 2024

Explain why a perfectly competitive firm will shut down in the short run if price is lower than average variable cost but will continue to

Explain why a perfectly competitive firm will shut down in the short run if price is lower than average variable cost but will continue to produce if price is below average total cost but above average variable cost.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 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

Organizational Behavior And Management

Authors: John Ivancevich, Michael Matteson

6th Edition

0072436387, 978-0072436389

More Books

Students also viewed these Economics questions

Question

★★★★★

Consider a levered firms projects that have similar risks to the firm as a whole. Is the discount rate for the projects higher or lower than the rate computed using the security market line? Why?

Answered: 1 week ago

Question

★★★★★

The test statistic of z = 2.14 is obtained when using the data from Exercise 1 and testing the claim that patients treated with dexamethasone and patients given a placebo have the same rate of...

Answered: 1 week ago

Question

★★★★★

=+Find a 3-term moving average for these data and predict the value for the next week?

Answered: 1 week ago

Question

★★★★★

Bond prices depend on the market rate of interest, stated rate of interest, and time. Requirements 1. Compute the price of the following 7% bonds of United Telecom. (a) $500,000 issued at 76.75. (b)...

Answered: 1 week ago

Question

★★★★★

What is wrong with the following abstract class definition? class Shape { public: virtual double print() const; double area() const { return base * height; } private: float base; float height; } a)...

Answered: 1 week ago

Question

★★★★★

Assuming an interest rate of 5%, the present value of $20,000 to be received 7 years from now would be closest to: Data Table A Data Table O A. $28,140 OB. $14,220 O C. $17,280 OD. $26,800 Present...

Answered: 1 week ago

Question

★★★★★

The company CEO of a heavily indebted company considers taking on a risky negative NPV project. In practice, the debtholders can best prevent this through 1 point a haircut. monitoring. increasing...

Answered: 1 week ago

Question

★★★★★

3. How do Gus's demands fit into the category of expecting Karen to exhibit strong organizational citizenship behavior?

Answered: 1 week ago

Question

★★★★★

On December 31, 2010, Gold Company purchases 80% of the common stock of Silver Corp. for its underlying book value of $480,000. On that date, the fair value of non-controlling interest was equal to...

Answered: 1 week ago

Question

★★★★★

Question #8 of 50 Question ID: 1158320 Registered principal Jane has just received a recommendation from Charlotte for the purchase of a deferred variable annuity for Charlotte's client, William....

Answered: 1 week ago

Question

★★★★★

A bike assembly line in a manufacturing system uses 400 pedals per day. Pedals can be produced at a rate of 800 units per day. The shop operates 20 days a month. Assume that demand is uniform...

Answered: 1 week ago

Question

★★★★★

A current liability is a debt the company reasonably expects to pay from existing current assets within A. One year or the operating cycle, whichever is shorter B. One year or the operating cycle,...

Answered: 1 week ago

Question

★★★★★

Subjective norms, i.e. the norms of the target group

Answered: 1 week ago

Question

★★★★★

The temporal rule: The closer temporal proximity we have to an event or action, the more probable it is that the distortion of information is less than if the event or action happened longer ago.

Answered: 1 week ago

Question

★★★★★

The relevance of the information to the interpreter

Answered: 1 week ago

Previous Question Next Question