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Category > Economics Posted 12 Jul 2017 My Price 7.00

double-drop line tool

In this graph you see the cost curves for a competitive firm in the short run. There are three curves: average total cost, average variable cost, and marginal cost. 

 

Part 1: Use the double-drop line tool to show a price-quantity combination that would yield positive economic profits for the firm and label it P econ profits. 

 

Part 2. Use the double-drop line tool to show a price-quantity combination that would yield zero economic profits for the firm and label it as P break even. 

 

Part 3. Use the double-drop line tool to show a price-quantity combination that would yield negative economic profits for the firm, but where the firm would stay in business in the short run and label it P SR losses. 

 

Part 4. Use the double-drop line tool to show the lowest price-quantity combination at which the firm would continue to produce output and label it P Shut down.

Screen Shot 2017-07-08 at 9.02.12 AM.png

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SuperTutor
(15)
Status NEW Posted 12 Jul 2017 12:07 AM My Price 7.00

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file 1499818446-Solutions file.docx preview (51 words )
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