DCam - Requires Respondus LockDown B Question 13 (5 points) You are provided with the following figure for KUP CAPS, a firm operating in a perfectly competitive market In the economic short run. Assume that the market price per cap is $11. 15.00 14.00- MC 13.00- 12.00- ATC 11.00- MR 10.00- 9.00-. ..... AVC 8.00- Price and cost (dollars per cap) 7.00- 6.00- -.. . ............ 5.00- 4.00- 3.00- 2.00-ICHRONOUS + Webcam - Requires Respondus LockD 6.00 -- Price and c 5.00- 4.00- 3.00- 2.00- 1.00- 0.00- 0 20 40 60 80 100 120 140 Quanity (caps per day) Use the information and figure above to answer the following questions. Output is given as caps produced per day. Revenue, cost, and profit is per day. Each question is worth 1 mark. INSTRUCTIONS: Just fill in the blank the correct amount. For instance, for the first fill in the blank, if you feel the answer is 10, just input the number 10 do not input any symbol like a dollar sign, comma, or decimal, just a whole number. Profit maximizing level of caps produced per day is A/ Total profit is A/Requires Respondus LockDown Bro Total profit is This firm would shut down at least temporarily if price fell below This firm would break-even at a price of This firm would remain open but incur an economic loss if price was above 4 dollars per cap but below A/ Page 13 of 45 Previous Page Next Page