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Author Question: Consider the following short-run cost curves for a profit-maximizing firm in a perfectly competitive ... (Read 85 times)

ksmithunr

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Question 1

Consider the following short-run cost curves for a profit-maximizing firm in a perfectly competitive industry.



FIGURE 9-2

Refer to Figure 9-2. If the current market price is $6, the profit-maximizing output for this firm is


◦ 100 units.
◦ 200 units.
◦ 300 units.
◦ 400 units.
◦ 500 units.

Question 2

Consider the following short-run cost curves for a profit-maximizing firm in a perfectly competitive industry.



FIGURE 9-2

Refer to Figure 9-2. If the price is $6 and the firm is producing at its profit-maximizing output, then total costs for the firm are


◦ $100.
◦ $2400.
◦ $1600.
◦ $300.
◦ $3500.


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Marked as best answer by ksmithunr on Oct 12, 2022

Afvelasquez

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ksmithunr

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review


DylanD1323

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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