.3 0 CFB PLAYOFF RANKING Problem Sets-201 7FAI Econ201-Fall2017-f × ESPN: The Wo
ID: 1119767 • Letter: #
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.3 0 CFB PLAYOFF RANKING Problem Sets-201 7FAI Econ201-Fall2017-f × ESPN: The Worldwide L | Friends (- Ball State University us blackboard bs.edubbcs ebdav pid-636946-t-content-rid-419879761/courses/201 7FAL ECON201S08 CLAS 14902 ME To see favorites here, select then and drag to the Favorites Bar folder. Or import from another browser. Import favorites Find on page Enter text to search C I Chegg.com No results Options See figure below to answer remaining questions from j through n. Please circle your answer and write on the yellow cells wherever applicable. Pice 13 12 10 MC ATC AVC 6.3 4.5- 567910 11 Asunto j. k L ( point) The firm's short-run supply curve is its marginal cost curve above (½ point) The firm should shut down if the market price is above / below $- (½ point) If the market price falls below S4.50, the firm will earn economic profits in the short run and remain in business/shut down O Type here to search 8-36 PM ^ f dx ENG 12/4/2017Explanation / Answer
Answer
j)
$4.5
k)
below
l)
negative
shut down
an explanation for both
the firm produces if the price is above minimum average variable cost because the firm losses increase above cost below the price of min(AVC), so the firm shut down if the price is below $4.5 and minimize losses which are equal to fixed cost.
m)
between 4.5 and 6.3
the firm produces above price 4.5 and be in loss price below min(ATC)
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