This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A perfectly competitive firm that should not shut down in the short run will maximize profit where ... (Read 157 times)

pane00

  • Hero Member
  • *****
  • Posts: 579
on: Jun 30, 2018
A perfectly competitive firm that should not shut down in the short run will maximize profit where
 a. VC = 0
  b. FC = 0
  c. AFC = MC
  d. P = MC
  e. ATC = 0

Question 2

Gilligan runs the only dry-cleaning business on a desert isle. If the cost of cleaning fluid falls, he can increase profit by
 a. raising price
  b. charging the highest price he can
  c. using less cleaning fluid
  d. lowering price
  e. charging a price equal to marginal cost


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

joneynes

  • Sr. Member
  • ****
  • Posts: 376
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

D


pane00

  • Hero Member
  • *****
  • Posts: 579
Reply #2 on: Jun 30, 2018
Thank you :)


joneynes

  • Sr. Member
  • ****
  • Posts: 376
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

A Tibetan wolf killed in 1938. Note the proportionately short legs A Tibetan wolf killed in 1938. Note the proportionately short legs
competitive inhibition competitive inhibition
Profit-maximizing Chart Profit-maximizing Chart
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Answer the following short answer, please show your steps and include the formulas used Answer the following short answer, please show your steps and include the formulas used
computer short cuts computer short cuts
Video: The life cycle of protein

For a complete list of videos, visit our video library