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

Author Question: If price lies above the minimum point on the ATCcurve, in the short run the firm should ________ and ... (Read 73 times)

saliriagwu

  • Hero Member
  • *****
  • Posts: 537
on: Apr 19, 2019

Question 1

If the price of an input increases, each individual firm's ________ shifts upward and the ________ shifts to the left.


◦ marginal revenue curve; marginal cost curve
◦ marginal cost curve; industry supply curve
◦ demand curve; industry supply curve
◦ supply curve; marginal cost curve

Question 2

If price lies above the minimum point on the 
ATC curve, in the short run the firm should ________ and in the long run it should ________.


◦ produce where 
MC = 
MR; exit the industry
◦ shut down; exit the industry
◦ produce where 
MC = 
MR; expand
◦ shut down; expand
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by saliriagwu on Apr 19, 2019

Briannahope

  • Sr. Member
  • ****
  • Posts: 364
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


saliriagwu

  • Member
  • Posts: 537
Reply 2 on: Apr 19, 2019
YES! Correct, THANKS for helping me on my review

meganmoser117

  • Member
  • Posts: 303
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

One-point linear perspective. One-point linear perspective.
Comparison of Alpha Modified Eagle’s Minimum Essential Medium with Dulbecco’s Modified Eagle’s ... Comparison of Alpha Modified Eagle’s Minimum Essential Medium with Dulbecco’s Modified Eagle’s ...
Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ... Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ...
The net price of an article is $79.84. What is the list price if a discount of 23% was allowed? The net price of an article is $79.84. What is the list price if a discount of 23% was allowed?
Constructing a Three-Point Recombination Map Constructing a Three-Point Recombination Map
Video: Bone Growth and Remodeling

For a complete list of videos, visit our video library