MC TR ?? MR $2.000.00 $4,400.00 $44 0 $170.00 $0.00 -$2,000.00 200 $6,000.00$30.

Question

MC TR ?? MR $2.000.00 $4,400.00 $44 0 $170.00 $0.00 -$2,000.00 200 $6,000.00$30.00 $16.00 S119.00 $21,200.00 $35,700.00 $85.00 $28 300.00 $51.00 S32 000.00 02.00 $40,800.00 $10,500.00 600 S12,600.00$21.00 S21.00 6 00 -$17.00 00 S28.00 S51.00 $35,700.00 S51.00 $20.300.00 $34.00 S27.20 900 $21,600.00S24.00 S32.00 S17. $119,00 -$6 300.00 S0.00S153.00 $25,000.00 1000 $25,000.00 $25.00 Table 1: For an individual producer in a certain market, Table 1 shows the market price (P), the firm's total costs (TC), the firm's marginal costs (MC), the firm's average total costs (ATC), the firm's total revenues (TR), the firm's marginal revenues (MR), and the firm's total profits (a). All of these functions are shown at the firm's different sizes of output (Q). Answer the following questions: a. Is this firm working in a perfectly competitive market? b. Is this firm working in the long-run or the short-run? c. What is the optimal size of output this producer should produce? d. Should this producer "quit production", "continue producing at optimal output size", or 'should be indifferent between quitting or continuing production at the optimal outpur"?

Explanation / Answer

Answer:

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.