Which of the firms are incurring losses? Which firm(s) is/are incurring losses?□UNone of these firmsOutput P11515151515Price and costs are in thousand pesos2345Output12345POutput P12345FIRM IAC AFC AVC23 10 131551015 3.33 11.6717.5 2.5 1521 2 19151515151515151515Price and costs are in thousand pesosFIRM IIIACOutput P115215315415521192021AFC AVC12166154153172.4 18.6FIRM IV15Price and costs are in thousand pesosFIRM IIAC AFC AVC115611 2.57.511.67 1.67 1013 1.25 11.751514131Price and costs are in thousand pesosMC137152535AC AFC AVC MC26 111523.5 5.51821.67 3.67 1822.75 2.75 2023 2.2 20.8MC16141523251521182624MC611151718

In the case of Perfect Competition, there are large numbers of firms that sell identical products.…

Which firm(s) is/are incurring losses? None of these firms FIRM I Output P AC AFC AVC 1 15 23 10 13 2 15 15 5 10 15 15 3.33 11.67 15 17.5 2.5 15 15 21 2 19 Price and costs are in thousand pesos 3 4 5 Output 1 2 3 4 3 15 15 15 15 5 15 21 Price and costs are in thousand pesos 4 5 P FIRM III Output AC 2 3 4 5 25287 21 19 20 Output P AC AFC AVC 15 26 11 15 15 18 23.5 5.5 15 21.67 3.67 18 22.75 2.75 20 15 15 23 2.2 20.8 Price and costs are in thousand pesos AFC AVC 12 16 6 15 15 17 2.4 18.6 432 FIRM IV FIRM II P AC AFC AVC 15 11 5 6 7.5 15 11 2.5 15 11.67 1.67 10 15 13 1.25 11.75 13 15 14 1 Price and costs are in thousand pesos MC 13 7223 15 25 6H133 35 MC 14 15 23 25 MC 15 21 18 26 24 MC 6 11 15 17 18

Which firm(s) is/are incurring losses? None of these firms FIRM I Output P AC AFC AVC 1 15 23 10 13 2 15 15 5 10 15 15 3.33 11.67 15 17.5 2.5 15 15 21 2 19 Price and costs are in thousand pesos 3 4 5 Output 1 2 3 4 3 15 15 15 15 5 15 21 Price and costs are in thousand pesos 4 5 P FIRM III Output AC 2 3 4 5 25287 21 19 20 Output P AC AFC AVC 15 26 11 15 15 18 23.5 5.5 15 21.67 3.67 18 22.75 2.75 20 15 15 23 2.2 20.8 Price and costs are in thousand pesos AFC AVC 12 16 6 15 15 17 2.4 18.6 432 FIRM IV FIRM II P AC AFC AVC 15 11 5 6 7.5 15 11 2.5 15 11.67 1.67 10 15 13 1.25 11.75 13 15 14 1 Price and costs are in thousand pesos MC 13 7223 15 25 6H133 35 MC 14 15 23 25 MC 15 21 18 26 24 MC 6 11 15 17 18

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter7: Production And Cost In The Firm

Section: Chapter Questions

Problem 1.3P

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