3- At the profit maximizing output, a competitive firm has average fixed costs of $15, average variable costs of $25, an
Posted: Wed Jul 06, 2022 6:19 pm
3- At the profit maximizing output, a competitive firm hasaverage fixed costs of $15, average variable costs of $25, andmarginal costs of $45. Please enter your responses as a wholenumber. No decimals and no $ signs please.
a. What are the firms average total cost ? $ [ Select ] ["40", "", "", ""]
b. What is the marginal revenue for this firm? [ Select ] ["45", ""]
c. What is the price per unit received by thisfirm? [ Select ] ["45", ""]
d. What is the profit per unit for thisfirm? [ Select ] ["5", ""]
e. At what price should the firm shut down? Anyprice less than $ [ Select ] ["25", ""]
f. If price falls to $30 would the firm continue tooperate indefinitely? yes or no [ Select ] ["no",""]
a. What are the firms average total cost ? $ [ Select ] ["40", "", "", ""]
b. What is the marginal revenue for this firm? [ Select ] ["45", ""]
c. What is the price per unit received by thisfirm? [ Select ] ["45", ""]
d. What is the profit per unit for thisfirm? [ Select ] ["5", ""]
e. At what price should the firm shut down? Anyprice less than $ [ Select ] ["25", ""]
f. If price falls to $30 would the firm continue tooperate indefinitely? yes or no [ Select ] ["no",""]