A firm in a competitive market has the following cost structure:
If the market price is $4,this firm will
A) produce two units in the short run and exit in the long run.
B) produce three units in the short run and exit in the long run.
C) produce four units in the short run and exit in the long run.
D) shut down in the short run and exit in the long run.
Correct Answer:
Verified
Q236: Susan quit her job as a teacher,which
Q259: Suppose you bought a ticket to a
Q260: Suppose you value a special watch at
Q323: The competitive firm's short-run supply curve is
Q329: Which of these curves is the competitive
Q338: Competitive firms that earn a loss in
Q386: When total revenue is less than variable
Q393: When price is below average variable cost,
Q398: If a firm operating in a competitive
Q434: When economists refer to a production cost
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents