Question
Suppose you are a consultant for a perfectly competitive firm. the firm is worried only about its policies in the short run, what would you
Suppose you are a consultant for a perfectly competitive firm. the firm is worried only about its policies in the short run, what would you reccomend in terms of quantity changes (raise, cut, shut down or stay put) and price changes (raise, cut, or stay put) in each of the following situations
a. P= $34 MC = $56 AVC= $12
b. P= $270. MC= $300 AVC= $300
c. P= $151 MC= $151 AVC= 150
d. P= $316 MC= $311 AVC=$266
e. P=256 MC=256 AVC= $266
Suppose you are a consultant for a perfectly competitive firm. the firm is worried only about its policies in the short run, what would you reccomend in terms of quantity changes (raise, cut, shut down or stay put) and price changes (raise, cut, or stay put) in each of the following situations
a. P= $34 MC = $56 AVC= $12
b. P= $270. MC= $300 AVC= $300
c. P= $151 MC= $151 AVC= 150
d. P= $316 MC= $311 AVC=$266
e. P=256 MC=256 AVC= $266
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Economics
Authors: Paul A. Samuelson, William Nordhaus
19th edition
978-0073511290, 73511293, 978-0073344232, 73344230, 978-007351129
