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Author Question: A perfectly competitive firm is breaking even. In the short run it should ________. In the long run ... (Read 23 times)

Mimi

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on: Apr 19, 2019

Question 1

A perfectly competitive firm, Paula's Pineapple Farm, is incurring a loss. In the short run it should continue to produce if ________, but in the long run, if there is no change in economic conditions, it should exit the industry.


◦ price is below minimum 
AVC
◦ price is above minimum 
ATC
◦ price is above minimum 
AVC
◦ price is equal to minimum 
ATC

Question 2

A perfectly competitive firm is breaking even. In the short run it should ________. In the long run it should ________.


◦ shut down; expand
◦ produce where 
MC = 
MR; leave the industry
◦ produce where 
MC = 
MR; keep the same production level
◦ shut down; exit the industry
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by Mimi on Apr 19, 2019

JCABRERA33

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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.
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Mimi

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Reply #2 on: Apr 19, 2019
TY


JCABRERA33

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Reply #3 on: Apr 19, 2019
You're welcome


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