At a firm's profit-maximizing level of output, its price is $200 and its short-run average total cost is $225 . The firm
a. has a profit of $25 per unit of output.
b. should shut down if its short-run average fixed cost is less than $25.
c. has a loss of $100 per unit of output.
d. should shut down if its short-run average variable cost exceeds $25.
b
Economics
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Refer to Table 4-3. The table above lists the marginal cost of polo shirts by Marko's, a firm that specializes in producing men's clothing. If the market price of Marko's polo shirts is $30, producer surplus is
A) $0. B) $16. C) $52. D) $68.
Economics
Why are most endangered species belong to common property?
What will be an ideal response?
Economics