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Glorious Ghoribas is a perfectly competitive cookie maker in Rabat Medina. Its costs are Output Total costs 0 14 1 38 2 48 3 62
- Glorious Ghoribas is a perfectly competitive cookie maker in Rabat Medina. Its costs are
Output Total costs
0 | 14 |
1 | 38 |
2 | 48 |
3 | 62 |
4 | 80 |
5 | 102 |
6 | 128 |
- What is their profit max output and how much profit do they make if the market price is 12 dhs
- What is the firms shut down point?
- Explain why a firm continues to operate if ATC>P>AVC.
- When will this firm exit the market in the long run? (6 points)
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