Giuseppe's Pizza is a perfectly competitive firm. The firm's costs are shown in the table above. The firm's shutdown point is
A) $12.
B) $17.
C) $8.
D) $2.
C
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The army is more likely than a business firm to assign a highly-skilled person to a job requiring little skill because the people who assign military personnel
A) are generally guided by the public interest rather than private interest. B) incur little cost from misallocating personnel. C) must consider the welfare of the whole rather than the profitability of the enterprise. D) work for the government, where there is less demand for skilled personnel.
A job loser is an individual
A) in the labor force whose employment was involuntarily terminated. B) who used to work full time but left the labor force and has now reentered it looking for a job. C) in the labor force who quits voluntarily. D) who has never held a full-time job lasting two weeks or longer but is now seeking employment.
In a long-run perfectly competitive equilibrium
A) P = MR = MC > ATC. B) P = MR > MC = ATC. C) P = MR = MC = ATC. D) P > MR > MC = ATC.
If a lender faces a potential loan applicant pool made up of equal amounts of low risks and high risks, will charging an average interest rate provide the average (expected) return? Explain.
What will be an ideal response?