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Author Question: The Short Run Production DecisionThe graph shows the cost curves for cinnamon.Assume that P1=$2.30, ... (Read 33 times)

Hunchojack2019!!

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on: Nov 23, 2022
The Short Run Production Decision

The graph shows the cost curves for cinnamon.



Assume that P1=$2.30, P2=$3.50, P3=$4.10, P4=$4.90, Q1=110, Q2=280, and Q3=380.
If price is set to P4 ($4.90), what is the profit-maximizing level of output? The firm earns an economic ________ (profit/loss) equal to ________. At what price does the firm break even? Below what price will the firm shut down in the short run?
Please round your answer to two decimal places.
◦ 280, loss, $1862.00, $2.30, $3.50
◦ 280, profit, $1862.00, $3.50, $2.30
◦ 380, profit, $304.00, $3.50, $2.30
◦ 380, loss, $304.00, $2.30, $3.50
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by Hunchojack2019!! on Nov 23, 2022

ALuthy

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Reply #1 on: Nov 23, 2022
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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Hunchojack2019!!

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Reply 2 on: Nov 23, 2022
Gracias!

amcvicar

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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