Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer each clearly and explain, thank you! These are the cost curves of an individual rm. o 20 40 : so :30 . mo

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Please answer each clearly and explain, thank you!

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
These are the cost curves of an individual rm. o 20 40 : so :30 . mo 120 140160 | | 5'0 | 75| 90 | i Queintity When weulcl this firm cheese to produce 90 units of eutput? 0 Price = 21 0 Price = 2:5 0 Price = 35 0 Price = 25 These are the cost curves of an individual firm. 45 MC Price -40 -35- ATC AVC -30- 26--25 21-20 -15- -10- -5 0 20 40 60 1 80 100 120 140 160 50 75 90 Quantity What is the break-even price? O 21 O 10 O 20 O 25These are the cost curves of an individual firm. 45 MC Price 40 -35- ATC -30- 26--25- 21--20 -15- -10- -5 0 20 40 60 1 80 ; 100 120 140 160 50 75 90 Quantity In the short run, below which price would you choose not to produce? 10 10.001 25 O 20These are the cost curves of an individual firm. 45 MC Price 40- -35- ATC AVC -30- 26--25-- 21--20- -15- -10- -5 20 40 60 1 80 100 120 140 160 50 75 90 Quantity In the long run, below which price would you choose not to produce? 10 10.001 20 O 25Question 19 (2 points) These are the cost curves of an individual firm. 45 MC Price 40 -35 ATC -30- 26--25- 21-70 -15- -10- -5 0 20 40 60 1 80 100 120 140 160 50 75 90 Quantity What is the profit when the firm chooses a quantity of 90? (2 points) INPUT ONLY INTEGERS AS ANSWERS, NO COMMAS OR UNITS. FOR EXAMPLE WRITE "1000", DO NOT WRITE "1,000" or "$1000" A/

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

Step: 3

blur-text-image

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

Managerial Economics

Authors: Luke M. Froeb, Brian T. McCann, Michael R. Ward

5th Edition

1337106666, 978-1337106665

More Books

Students also viewed these Economics questions

Question

Food supply

Answered: 1 week ago

Question

Mortality rate

Answered: 1 week ago