At its shutdown point, a perfectly competitive firm earns total ...

[Mr3Hunna]

At its shutdown point, a perfectly competitive firm earns total revenue that
 
  A) exceeds its total cost.
  B) generates a normal profit.
  C) just equals its total variable cost.
  D) exceeds its total variable cost.

Question 2

Using the above figure, which of the following quantities of CDs has the largest deadweight loss?
 
  A) 3 million CDs
  B) 4 million CDs
  C) 7 million CDs
  D) The deadweight losses associated with the three quantities given above are all equal.

[Sophiapenny]

Answer to Question 1

C

Answer to Question 2

C

[Mr3Hunna]

Excellent

[nguyenhoanhat]

Thanks for the timely response, appreciate it