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Author Question: If price lies above the minimum point on the ATCcurve, in the short run the firm should ________ and ... (Read 61 times)

saliriagwu

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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
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Marked as best answer by saliriagwu on Apr 19, 2019

Briannahope

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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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saliriagwu

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

ttt030911

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Reply 3 on: Yesterday
Wow, this really help

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