Refer to Exhibit 23-8. What is the total cost of firm 8 at the profit-maximizing (or...

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Refer to Exhibit 23-8. What is the total cost of firm 8 at the profit-maximizing (or loss- minimizing) level of production? 32 $11 a. b. $750 C. $1,650 d. $400 Exhibit 23-9 Market Single Fir Price and Price Cost SRATC ARATC Quality Quatity Refer to Exhibit 23-9. Suppose that the market starts out at long-run competitive equilibrium 33 with price equal to P1 and producing Q1 output, and then demand increases from D1 to D2. As a consequence, the typical profit-maximizing firm will increase quantity produced by (q2-q1). a. decrease quantity produced by (q2-ql) b. decrease quantity produced by (q1-q3). C. not change its output level because the demand curve it is facing did not change. d. Refer to Exhibit 23-9. Assume that demand increases from D1 to D2; in the new long run equilibrium, price settles at a level between P1 and P2 This means that the industry in question 34 cost industry. is a(n) decreasing a. b. increasing constant C 9 Refer to Exhibit 23-8. What is the total cost of firm 8 at the profit-maximizing (or loss- minimizing) level of production? 32 $11 a. b. $750 C. $1,650 d. $400 Exhibit 23-9 Market Single Fir Price and Price Cost SRATC ARATC Quality Quatity Refer to Exhibit 23-9. Suppose that the market starts out at long-run competitive equilibrium 33 with price equal to P1 and producing Q1 output, and then demand increases from D1 to D2. As a consequence, the typical profit-maximizing firm will increase quantity produced by (q2-q1). a. decrease quantity produced by (q2-ql) b. decrease quantity produced by (q1-q3). C. not change its output level because the demand curve it is facing did not change. d. Refer to Exhibit 23-9. Assume that demand increases from D1 to D2; in the new long run equilibrium, price settles at a level between P1 and P2 This means that the industry in question 34 cost industry. is a(n) decreasing a. b. increasing constant C 9