Suppose product price is fixed at $24; MR = MC at Q = 200; AFC = $6; AVC = $25 . What do you advise this firm to do?
a. Increase output.
b. Decrease output.
c. Shut down operations.
d. Stay at the current output; the firm is earning a profit of $1,400.
e. Stay at the current output; the firm is losing $1,400.
c
Economics
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Refer to the table above. Laborland's net payment to foreigners equals ________
A) -$23 billion B) $20 billion C) -$61 billion D) $23 billion
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According to Joseph Schumpeter, many Midwestern railroads:
a. were built too late and thus faced heavy competition from trucks. b. were built ahead of demand. c. were unnecessary because they followed routes already adequately served by other means of transportation. d. would have been built more quickly in the absence of government aid.
Economics