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1)    In the above figure, the perfectly competitive firm's shutdown point is at a price of: $4 per unit. $8 per unit. $12 per unit. $16 per unit.   2)    In the above figure, if the price is $16 per unit, how many units will a profit maximizing perfectly competitive firm produce? 35 units   3)    In the above figure, if the price is $16 per unit. How much is the firm’s Total Cost, Total Variable Cost, Total Fixed Cost?

1)    In the above figure, the perfectly competitive firm's shutdown point is at a price of: $4 per unit. $8 per unit. $12 per unit. $16 per unit.   2)    In the above figure, if the price is $16 per unit, how many units will a profit maximizing perfectly competitive firm produce? 35 units   3)    In the above figure, if the price is $16 per unit. How much is the firm’s Total Cost, Total Variable Cost, Total Fixed Cost?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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ADDITIONAL PROBLEM B

1)    In the above figure, the perfectly competitive firm's shutdown point is at a price of:

  1. $4 per unit.
  2. $8 per unit.
  3. $12 per unit.
  4. $16 per unit.

 

2)    In the above figure, if the price is $16 per unit, how many units will a profit maximizing perfectly competitive firm produce? 35 units

 

3)    In the above figure, if the price is $16 per unit. How much is the firm’s Total Cost, Total Variable Cost, Total Fixed Cost?

 

4)    In the above figure, if the price is $16 per unit. How much is the firm’s Total Revenue and Economic Profit?

20 - MC АТС AVC 16 12 4 0 5 10 15 20 25 30 35 40 45 50 Quantity (units per day) Price and cost (dollars per unit) CO
Transcribed Image Text:20 - MC АТС AVC 16 12 4 0 5 10 15 20 25 30 35 40 45 50 Quantity (units per day) Price and cost (dollars per unit) CO
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