pc4a - Additional Problem #4 Answers: Pure Competition Use...

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Additional Problem #4 Answers : Pure Competition Use the lettered points in the graph for the questions below. (Note there are several ways to answer these questions correctly and most of those alternatives are listed below). 1. At what output does this firm operate? 0Q or Q . 2. What is the MR at this output? 0A or QA ( or just A or just A ) . 3. What is the MC at this output? 0A or QA (or just A or just A ) . 4. What is the market price? 0A or QA (or just A or just A ) . 5. What is the TR at this output? 0AA Q (or A x Q) . 6. What is the ATC at this output? 0B or QB (or just B or just B ) . What is the TC at this output? 0BB Q (or B x Q) . 8. What is the AVC at this output? 0C or QC (or just C or just C ) . What is the TVC at this output? 0CC Q or C x Q) . 9. What is the AFC at this output? BC or B C . What is the TFC? CBB C (or CB x Q) . 10. Does the firm operate at a profit or loss?
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pc4a - Additional Problem #4 Answers: Pure Competition Use...

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