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Author Question: Assume a firm has the following cost and revenue characteristics at its current level of output: ... (Read 49 times)

Deast7027

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  • Posts: 538
on: Jul 1, 2018
Assume a firm has the following cost and revenue characteristics at its current level of output: price=8.00 . average variable cost=6.00 and average fixed cost =4.00 . In the long run, the firm
 a. Should shut-down as its making a loss of 2
  b. Should continue operating as long as it is covering the variable costs of 6
  c. Should continue operating as long as it is covering the fixed costs of 4
  d. Should not shut down

Question 2

To incentivize employees
 a. Measure performance, whether formally or informally
  b. Tie the performance metrics to compensation
 c. All of the above
 d. None of the above


jennafosdick

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

c


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