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Author Question: Suppose Robin's Clock Works produces in a perfectly competitive market. Suppose the average total ... (Read 87 times)

nautica902

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on: Jul 20, 2019
Suppose Robin's Clock Works produces in a perfectly competitive market. Suppose the average total cost of clocks is $95, the average variable cost of clocks is $90, and the price of clocks is $85. If the firm is producing the level of output where marginal cost equals price, then in the short run the firm:
◦ should shut down.
◦ is earning a positive economic profit.
◦ can increase profit by increasing output.
◦ should continue to produce since total revenue exceeds total variable cost.
Microeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 8th Edition
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Marked as best answer by nautica902 on Jul 20, 2019

kbennett34

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Reply #1 on: Jul 20, 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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nautica902

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Reply 2 on: Jul 20, 2019
Great answer, keep it coming :)

cdmart10

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Reply 3 on: Yesterday
Excellent

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