Consider a firm with the following cost and revenue information: ATC = $8, AVC = $7, and MR = MC = $6 . If the firm produces Q = 60 in the short run, it:
a. is minimizing losses.
b. makes a total loss of $60.
c. should produce more output.
d. is making a mistake and should shut down.
e. is maximizing total profit.
d
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When a financial asset is first sold, the sale takes place in the ________ market, and subsequent sales take place in the ________ market
A) secure; risk B) stock; bond C) investment; commercial D) primary; secondary
Production processes that use a high ratio of capital to labor inputs are referred to as
A. Production-intensive. B. Labor-intensive. C. Capital-intensive. D. Factor-intensive.
Buying a used textbook from a fellow student is an example of what type of market?
A. Global B. Local C. Labor D. National
Use the above figure. The economic profit for this firm is
A. the distance between T and E. B. the distance between E and x-axis. C. zero. D. the distance between T and x-axis.