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Author Question: Assume the following total cost schedule for a perfectly competitive firm.OutputTVC ($)TFC ($)0 ... (Read 189 times)

mustachegiraffe

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Question 1

Assume the following total cost schedule for a perfectly competitive firm.

OutputTVC ($)TFC ($)
0    0100
1  40100
2  70100
3120100
4180100
5250100
6330100

TABLE 9-1

Refer to Table 9-1. This profit-maximizing firm would produce no output in the short run if the market price of its output dropped below
◦ $100.
◦ $40.
◦ $70.
◦ $90.
◦ $35.

Question 2

Assume the following total cost schedule for a perfectly competitive firm.

OutputTVC ($)TFC ($)
0    0100
1  40100
2  70100
3120100
4180100
5250100
6330100

TABLE 9-1

Refer to Table 9-1. At what price would a profit-maximizing firm earn zero economic profits?
◦ $40
◦ $145
◦ $70
◦ $220
◦ $430


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Marked as best answer by mustachegiraffe on Oct 12, 2022

studyforce.com

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mustachegiraffe

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)


Liamb2179

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Reply 3 on: Yesterday
Wow, this really help

 

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