which firm/s can close already to avoid futher loss? Which firm(s) can close shop to avoid further losses?FIRM IPAC AFC AVC152310131515S101515 3.33 11.671517.5 2.5151521 219Price and costs are in thousand pesosOutput12345FIRM IIOutput PAC AFCAVC115562152.57.531511.67 1.67101513 1.25 11.7514 11315Price and costs are in thousand pesos45Output1234P1515151515Price and costs are in thousand pesosOutput P123FIRM IIINone of these firms4ACS2821192021AFC AVCFIRM IV12166154153172.4 18.6AC AFC AVC1515151515Price and costs are in thousand pesos26 111523.5 5.51821.67 3.671822.75 2.752023 2.2 20.8MC137152535MC611151718MC1614152325MC1521182624

The firm produces where the price is equal to the marginal cost in perfect competition. The firm…

Which firm(s) can close shop to avoid further losses? 0 Output P 1 15 2 15 3 15 4 M 15 15 Price and costs are in thousand pesos 0 0 5 Output 1 FIRM II P AC AFC AVC 15 11 5 6 15 7.5 15 10 15 13 1.25 11.75 15 14 1 13 Price and costs are in thousand pesos 2 3 4 5 Output 1 2 3 FIRM I AC AFC AVC 23 10 13 15 S 10 15 3.33 11.67 17.5 2.5 15 21 2 19 4 P 11 2.5 11.67 1.67 15 15 15 15 5 15 Price and costs are in thousand pesos 4 S FIRM III AC 28 21 None of these firms. 19 20 21 AFC AVC FIRM IV 12 6 4 16 15 15 17 3 2.4 18.6 Output P 1 15. 2 15 3 15 15 20 15 23 2.2 20.8 Price and costs are in thousand pesos. MC 13 7 15 25 35 MC 6 AC AFC AVC MC 26 11 15 15 23.5 5.5 18 21 21.67 3.67 18 18 22.75 2.75 26 24 GASTR 11 15 17 18 MC 16 14. 15 23 25

Which firm(s) can close shop to avoid further losses? 0 Output P 1 15 2 15 3 15 4 M 15 15 Price and costs are in thousand pesos 0 0 5 Output 1 FIRM II P AC AFC AVC 15 11 5 6 15 7.5 15 10 15 13 1.25 11.75 15 14 1 13 Price and costs are in thousand pesos 2 3 4 5 Output 1 2 3 FIRM I AC AFC AVC 23 10 13 15 S 10 15 3.33 11.67 17.5 2.5 15 21 2 19 4 P 11 2.5 11.67 1.67 15 15 15 15 5 15 Price and costs are in thousand pesos 4 S FIRM III AC 28 21 None of these firms. 19 20 21 AFC AVC FIRM IV 12 6 4 16 15 15 17 3 2.4 18.6 Output P 1 15. 2 15 3 15 15 20 15 23 2.2 20.8 Price and costs are in thousand pesos. MC 13 7 15 25 35 MC 6 AC AFC AVC MC 26 11 15 15 23.5 5.5 18 21 21.67 3.67 18 18 22.75 2.75 26 24 GASTR 11 15 17 18 MC 16 14. 15 23 25

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 7PA

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