Question: I want answer quickly ATC MC MC,AVCATC AVC W X M N quantity The graph above belongs to a perfectly competitive firm. The numbers on

I want answer quickly

ATC MC MC,AVCATC AVC W X M N quantity The graph above belongs to a perfectly competitive firm. The numbers on the graph are as follows: K = 11 , L = 22, M = 24, N = 28 X = 20 , Y = 52, Z = 64, W = 89, U = 106 Suppose the price equals to 64 in the above perfectly competitive industry. If the cost conditions do not change, what will happen to the number of firms in the industry in Choose.. the long run? For which price range, does this firm makes a loss? Choose... For which price value, does this continue to operate with zero economic profit? Choose. #

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

The uniform crate resting on the dolly has a mass of 500 kg and mass center at G. If the front casters contact a high step, and the coefficient of static friction between the crate and the dolly is ...

File Tools View econ . Saved to this PC v X Question 1 (1 point) Because the perfectly competitive firm is a price-taker, its demand curve is downward-sloping Price MC b MRS horizontal ATC AVC - MR....

The following graph shows the MC, AVC, and the ATC functions for a perfectly competitive firm. All the questions pertain to short run. Please note that you are not supposed to guess the answers...

Question Completion Status: QUESTION 22 To the economist, total cost includes: O explicit, but not implicit, costs. O explicit and implicit costs. O neither implicit nor explicit costs. O implicit,...

can you help me answer these question with EXPLANATION? I am very confused with them :( WE Answer the next question on the basis of the following data faced by a perfectly competitive firm Q Home...

On the basis of above graph complete the below table. For columns 2, 3, 4, and 5 you need answer only yes or no. (1 ) (2) (3) (4) (5) (6) (7) (8) What is What average quantity profit at What is its...

D D 29.{03.03MC) Use the graph to answer the question. (1 point] 10 Long Run Average Total Costs Output which of the following would accurately describe rms unable to achieve the minimum efficient...

Question 1: (16 marks) Provide a clear and specific definition, an equation, and an example for each of the following, except as noted: -The natural rate of unemployment (definition only) -If Canada...

Section 1 - Solving a problem on perfectly competitive firm Solve the following problem that involves a perfectly competitive firm: Florea is a seller in the perfectly competitive handmade necklace...

show work and answer Revenue and cos: (dollars per unlc) 0 IO 20 30 4-D so Output (units per day) The above figure shows a perfectly competitive firm. If the market price is $l5per unit, the firm A)...

In 2006, the major airline carriers, with the principal exception of Southwest Airlines (LUV), continued to be in dire financial condition following the attack on the World Trade Center in 2001. a....

The Horstmeyer Corporation commenced operations early in 2011. A number of expenditures were made during 2011 that were debited to one account called intangible asset. A recap of the $644,000 balance...

Problem 1 3 - 2 4 Analyzing a Portfolio [ LO 2 ] You want to create a portiolio equally as risky as the market, and you have $ 1 , 6 0 0 , 0 0 0 to invest. Given this information the rest of the...

Show that the gravitational self-energy (energy of assembly piecewise from infinity) of a uniform sphere of mass M and radius R is 3 GM? 5 R

Eaton Company has a credit balance of $3,500 in Allowance for Doubtful Accounts. The estimated bad debts expense under the percentage-of-sales basis is $4,100. The total estimated uncollectibles...

Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. It reported the following information in its 2009 annual report. Instructions(a)...

The Cambridge Opera Association has come up with a unique door prize for its December (2004) fund-raising ball: Twenty door prizes will be distributed, each one a ticket entitling the bearer to...

Best Bathware Company manufactures faucets in a small manufacturing facility. The faucets are made from zinc. Manufacturing has 50 employees. Each employee presently provides 36 hours of labor per...

The text discusses the seven steps in the marketing research process. Two of the steps are: 1) identify and formulate the problem/opportunity; and 2) collect primary data. Which of the following is...

What does this look like?

1. The purpose of this chapter is to describe the key principles, procedures and strategies of personal communication benchmarking, as understood in this context.

1. Set a personal goal for yourself in your work situation. Examine this goal in the light of the 10 factors to achieve goals.