Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 26 1 pts In a perfectly competitive market if the price is $20, the average total cost is $22 and the average variable cost

image text in transcribed
image text in transcribed
Question 26 1 pts In a perfectly competitive market if the price is $20, the average total cost is $22 and the average variable cost is $18 then assuming conditions remain the same, firms will O not shut-down in the short-run nor exit in the long-run. O not shut-down in the short-run but exit in the long-run. O shut-down in the short-run but not exit in the long-run. O shut-down in the short-run and exit in the long-run

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

Data Analytics For Accounting

Authors: Vernon Richardson

2nd Edition

1260904334, 9781260904338

More Books

Students also viewed these Economics questions

Question

In a steady flow burner T is not controlled, which properties are?

Answered: 1 week ago

Question

Differentiate tan(7x+9x-2.5)

Answered: 1 week ago

Question

Explain the sources of recruitment.

Answered: 1 week ago

Question

Differentiate sin(5x+2)

Answered: 1 week ago

Question

Compute the derivative f(x)=1/ax+bx

Answered: 1 week ago

Question

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

Answered: 1 week ago