g. What is the firm's profit if it shuts down? h. In the long run, should this firm continue to operate or shut down? Copyright The McGraw-Hill Comripianies, Inc. Permission required for reproduction or display. $48 46 44 42 40 38 36 34 32 30 28 26 24 22 20 18 16 14 12 10 8. MC ATC Df MR AVC AFC 6. 2. 0. 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 5.5 6 6.5 7 7.5 8 8.5 9 9.5 10 Quantity
g. What is the firm's profit if it shuts down? h. In the long run, should this firm continue to operate or shut down? Copyright The McGraw-Hill Comripianies, Inc. Permission required for reproduction or display. $48 46 44 42 40 38 36 34 32 30 28 26 24 22 20 18 16 14 12 10 8. MC ATC Df MR AVC AFC 6. 2. 0. 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 5.5 6 6.5 7 7.5 8 8.5 9 9.5 10 Quantity
Principles of Economics (MindTap Course List)
8th Edition
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter14: Firms In Competitive Markets
Section: Chapter Questions
Problem 4PA
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Question
he following graph summarizes the demand and costs for a firm that operates in a
- What level of output should this firm produce in the short run?
- What price should this firm charge in the short run?
- What is the firm’s total cost at this level of output?
- What is the firm’s total variable cost at this level of output?
- What is the firm’s fixed cost at this level of output?
- What is the firm’s profit if it produces this level of output?
- What is the firm’s profit if it shuts down?
- In the long run, should this firm continue to operate or shut down?
problem 1-6 are solved, this is subparts.
Transcribed Image Text:BA 6150 HW Set Ch 8(3) -
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g. What is the firm's profit if it shuts down?
h. In the long run, should this firm continue to operate or shut down?
Copyright ©The McGraw-Hill Companies, Inc. Permission required for reproduction or display
$48
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