Assume that the cost data in the following table are for a purely competitive producer Average...

 

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Assume that the cost data in the following table are for a purely competitive producer Average Variable Cost Total Product 0 1 2 S a $ 6 7 A ·2 10 Neerage Fixed Cost $60.00 30.00 20.00 15.00 12.00 10.00 8.57 7.58 6.67 6.00 145.00 42.58 40.00 37.50 17.00 37.50 38.57 40.63 43.33 46.50 Average Tatal Cost Marginal Cost $105.00 72.50 60.00 52.50 49.00 47.50 47.14 46.13 50.00 52.50 $45.00 40.00 35,00 38.00 35.00 40,00 45.00 55.00 65.00 75.00 Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers Select "Not applicable and enter a value of "0" for output if the firm does not produce a At a product price of $57.00 ( Will this firm produce in the short run? (Click to select) () if it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? (Click to select output = units per firm (What economic profit or loss will the firm realize per unit of output? [Click to select) per unit $[ b. At a product price of $42.00 (0) Will this firm produce in the short run? [Click to select) 60 if it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? (Click to select output-units per fem 600 What economic profit or loss will the firm realize per unit of output? [Cick to select per unut $[ At a product price of $33.00 Will this firm produce in the short run? [Click to select) Assume that the cost data in the following table are for a purely competitive producer Average Variable Cost Total Product 0 1 2 S a $ 6 7 A ·2 10 Neerage Fixed Cost $60.00 30.00 20.00 15.00 12.00 10.00 8.57 7.58 6.67 6.00 145.00 42.58 40.00 37.50 17.00 37.50 38.57 40.63 43.33 46.50 Average Tatal Cost Marginal Cost $105.00 72.50 60.00 52.50 49.00 47.50 47.14 46.13 50.00 52.50 $45.00 40.00 35,00 38.00 35.00 40,00 45.00 55.00 65.00 75.00 Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers Select "Not applicable and enter a value of "0" for output if the firm does not produce a At a product price of $57.00 ( Will this firm produce in the short run? (Click to select) () if it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? (Click to select output = units per firm (What economic profit or loss will the firm realize per unit of output? [Click to select) per unit $[ b. At a product price of $42.00 (0) Will this firm produce in the short run? [Click to select) 60 if it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? (Click to select output-units per fem 600 What economic profit or loss will the firm realize per unit of output? [Cick to select per unut $[ At a product price of $33.00 Will this firm produce in the short run? [Click to select)

Answer rating: 100% (QA)

To determine whether the firm will produce in the short run at different product prices we need to c... View the full answer