The table shows the total costs for a perfectly competitive firm, If the firm shuts down in the short run, the total cost will be: Output Total cost $2,500 2,700 2. 3,100 3 3,700 4. 4,500 6,000 elect one: О а. $2,700. b. $200. c. $2,500. d. $1,500.

The table shows the total costs for a perfectly competitive firm, If the firm shuts down in the short run, the total cost will be: Output Total cost $2,500 2,700 2. 3,100 3 3,700 4. 4,500 6,000 elect one: О а. $2,700. b. $200. c. $2,500. d. $1,500.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 36CTQ: Why will losses for firms in a perfectly competitive industry tend to vanish in the long run?

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Question

33
The table shows the total costs for a perfectly competitive firm, If the firm shuts down in the short run, the total cost will be:
Output
Total cost
$2,500
2,700
2.
3,100
3.
3,700
4,500
5.
6,000
Select one:
Oa.
$2,700.
O b. $200.
O c. $2,500.
O d. $1,500.

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