35. The shutdown point occurs at a price of A. $11.00. B. $12.00. C. $16.00. D. $22.00.

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter8: Perefect Competition
Section: Chapter Questions
Problem 10SQP
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only 35 answer i need
Use Figure 7, which depicts the cost curves of a perfectly competitive firm, to answer
questions 34 and 35.
Price (dollars per unit)
22621
23
11
Figure 7
14 17 19
MC
ATC
AVC
Quantity (units)
35. The shutdown point occurs at a price of
A. $11.00.
B. $12.00.
C. $16.00.
D. $22.00.
MR
34. At the profit-maximising level of output, the firm is
A. Incurring an economic loss equal to $119.00.
B. Incurring an economic loss equal to $123.50.
C. Incurring an economic loss equal to $187.00.
D. Making zero economic profit.
Transcribed Image Text:Use Figure 7, which depicts the cost curves of a perfectly competitive firm, to answer questions 34 and 35. Price (dollars per unit) 22621 23 11 Figure 7 14 17 19 MC ATC AVC Quantity (units) 35. The shutdown point occurs at a price of A. $11.00. B. $12.00. C. $16.00. D. $22.00. MR 34. At the profit-maximising level of output, the firm is A. Incurring an economic loss equal to $119.00. B. Incurring an economic loss equal to $123.50. C. Incurring an economic loss equal to $187.00. D. Making zero economic profit.
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