Please solve Fast i give 2 likeWhich of the following is not true according to Figure 1? Hide Transcribed TextFigure 1: Cost and Price AC : Average Cost, AVC: Average Variable Cost, and MC: Marginal Cost A) The firm earn a zero economic profit when it produces 40 unit at the price of $5.7 per unit.B) The minimum acceptable price (the shut-down point) is $4.3 per unit.C) The firm's supply curve is its MC curve above minimum of AVC.D) The firm earns an economic profit when the price exceeds $4.3 per unit. MR, AC and AVC$6$5.7$4.31MC ACAVCG20 4050-do-Modi-MRIdi-MR:quantityFigure 1: Cost and PriceAC: Average Cost, AVC: Average Variable Cost, and MC:Marginal Cost

In a perfectly competitive market, there are many buyers and sellers in the market. Firms produce…

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Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 23RQ: Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost,...

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Please solve Fast i give 2 like
Which of the following is not true according to Figure 1?

Hide Transcribed Text

Figure 1: Cost and Price AC : Average Cost, AVC: Average Variable Cost, and MC: Marginal Cost

A) The firm earn a zero economic profit when it produces 40 unit at the price of $5.7 per unit.

B) The minimum acceptable price (the shut-down point) is $4.3 per unit.

C) The firm's supply curve is its MC curve above minimum of AVC.

D) The firm earns an economic profit when the price exceeds $4.3 per unit.

MR, AC and AVC
$6
$5.7
$4.31
MC AC
AVC
G
20 4050
-do-Mo
di-MRI
di-MR:
quantity
Figure 1: Cost and Price
AC: Average Cost, AVC: Average Variable Cost, and MC:
Marginal Cost

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