Write TRUE if the statements can happen under PCM, otherwise, write false.1. Mang Toto's palayan can influence the market price palay if he wants to sell his produce at Php 20.002. Mang Toto can profit from producing corn in Nueva Ecija and selling them in Davao3. Ferdinand, Emil, and Casandra can't change jobs immediately4. Sen. Glory Esterda wrote a bill to subsidize piggeries who cannot follow the equilibrium price of porkso they can sell their goods in the market.5. The demands for pork, rice, and corn are perfectly elastic. For items 11-12, refer to this graph.80060040020072MC88ACAVC11. What is the revenue when MR = 800?a. 20,560 b. 70,400 c. 56,800 d. There's not enough information to answer the question12. What is the revenue at price level where P = 600?a. 43,200 b. 70,400 c. 56,800 d. 32,20013. Should the firm produce when P = 400?a. Yes b. No c. Maybe d. There's not enough information to answer the question14. Should the firm producewhen P = 200?a. Yes b. No c. Maybe d. There's not enough information to answer the question15. What is the profit price level P= 800?a. 75,500 b. 70,400 c. 17,600 d. There's not enough information to answer the question

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800 600 400 200 MC AC 72 88 AVC 11. What is the revenue when MR = 800? a. 20,560 b. 70,400 c. 56,800 d. There's not enough information to answer the question 12. What is the revenue at price level where P = 600? a. 43,200 b. 70,400 c. 56,800 d. 32,200 13. Should the firm produce when P = 400? a. Yes b. No c. Maybe d. There's not enough information to answer the question

800 600 400 200 MC AC 72 88 AVC 11. What is the revenue when MR = 800? a. 20,560 b. 70,400 c. 56,800 d. There's not enough information to answer the question 12. What is the revenue at price level where P = 600? a. 43,200 b. 70,400 c. 56,800 d. 32,200 13. Should the firm produce when P = 400? a. Yes b. No c. Maybe d. There's not enough information to answer the question

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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