You are watching: In the short run, if p > atc, a perfectly competitive firm:
If a perfectly competitive for sure sells 300 devices of calculation at $1 per unit, that is marginal revenue is: more than $1 yet less 보다 $300. Less than $1. $1. $300.
In the short run, a perfectly competitive firm produces output and also breaks even if the for sure produces the quantity at which: ns > ATC. Ns p = (TR / Q + TC / Q) × Q. P = ATC.
In perfect competitive markets, if the price is _____, the firm will _____. higher than the minimum ATC; break even greater 보다 ATC; make an financial profit less than ATC; make an economic profit much less than ATC; rest even
A perfect competitive firm will certainly earn a profit and also will proceed producing the profit-maximizing amount of calculation in the brief run if the price is: higher than median variable cost however less 보다 average total cost. Less than marginal cost. Less than the average fixed cost. Greater than average full cost.
The short-run supply curve for a perfectly competitive firm is the ____ expense curve above the _____ price. typical variable; shut-down marginal; shut-down median total; break-even marginal; break-even
In the brief run, if AVC produce output and also incurs an economic loss. To produce output and earns an economic profit. Go not develop output and earns an financial profit. Walk not develop output and earns zero financial profit.
Assume the in the brief run a perfect competitive firm go not produce output and also has financial losses. This wake up at the amount where grandfather = MC and: ns = ATC and FC = 0. AVC 0. AVC > ns > ATC and also FC = 0. Ns 0.
Which the the adhering to is TRUE? Price and marginal revenue room the same in perfect competition. Economic profit per unit is discovered by subtracting AVC native the price. Financial profit is constantly positive in the brief run. If the price falls listed below the average full cost, the firm will earn financial profits.
In a long-run equilibrium, economic profits in a perfect competitive market are: positive. Zero. Negative. Indeterminate.
A perfect competitive firm will certainly produce: only when it earns profits in the brief run. Mainly in the long run and only if price is better than AFC. Whenever the can. Through a ns in the quick run if its price is higher than AVC but less than ATC.
The assumptions of perfect competition imply that: the price will be fair. Individuals have the right to influence the industry price. The price will certainly be high. People in the sector accept the industry price together given.
Which the the adhering to is no a characteristic of a perfectly competitive industry? products are differentiated. Profits might be hopeful in the short run. Over there are numerous firms. Firms look for to maximize profits.
If a perfectly competitive firm decreases manufacturing from 11 devices to 10 units and the industry price is $20 every unit, total revenue for 10 devices is: $200. $10. $210. $20
If a perfectly competitive firm increases production native 10 systems to 11 units and the market price is $20 every unit, complete revenue because that 11 devices is: $200. $10. $20. $220.
The marginal revenue received by a certain in a perfect competitive market: is much less than the market price. Is same to its mean revenue. Is greater than the market price. Boosts with the amount of output sold.
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In the short run, a perfectly competitive for sure produces output and earns ZERO economic profit if: ns > ATC. P p = ATC. Ns
Mikail"s perfectly competitive camera storage card-producing manufacturing facility is make positive economic profits. If the price of storage cards is $9, if Mikail"s output is 3,000 cards a month, and if his monthly average full cost is $7, what are his monthly profits? $2 $6,000 $27,000 $21,000
The lowest suggest on a perfect competitive firm"s short-run it is provided curve synchronizes to the minimum suggest on the _____ curve. ATC AFC MC AVC
In the brief run, if AVC walk not produce output and earns an financial profit. Produces output and earns an economic profit. Go not develop output and also earns zero economic profit. To produce output and also incurs an economic loss.
Solutions hands-on for Use with Essentials the Investments7th EditionAlan J. Marcus, Alex Kane, Bruce Swensen, Zvi Bodie
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