help me please Consider the following information on three perfect competitivefirms. These firms hired you to advise them. The only concern theyhave is to maximize profits.Firm PriceQTRTCProfit/LossVCATCAVCMC202001406.505000-5004500503200-800191716a. Copy and complete the missing information on each firmb. What would you advise each of these firms to do in the short-runand long-run? Explain.

The perfect competition is the market where there are infinite number of buyers(B) and sellers(S)…

have is to maximize profits. Firm Price TR TC Profit/Loss VC ATC AVC MC 20 200 140 2 50 5000 -500 4500 50 200 -800 19 17 16 a. Copy and complete the missing information on each firm b. What would you advise each of these firms to do in the short-run and long-run? Explain.

have is to maximize profits. Firm Price TR TC Profit/Loss VC ATC AVC MC 20 200 140 2 50 5000 -500 4500 50 200 -800 19 17 16 a. Copy and complete the missing information on each firm b. What would you advise each of these firms to do in the short-run and long-run? Explain.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter8: Perefect Competition

Section: Chapter Questions

Problem 5SQP

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Question

help me please

Consider the following information on three perfect competitive
firms. These firms hired you to advise them. The only concern they
have is to maximize profits.
Firm Price
Q
TR
TC
Profit/Loss
VC
ATC
AVC
MC
20
200
140
6.
50
5000
-500
4500
50
3
200
-800
19
17
16
a. Copy and complete the missing information on each firm
b. What would you advise each of these firms to do in the short-run
and long-run? Explain.

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