Order the answer to: Assume a competitive firm faces a market price of $90. The total cost of the firm is given by the co

Academic Help economy Order the answer to: Assume a competitive firm faces a market price of $90. The total cost of the firm is given by the co

economy

Order the answer to: Assume a competitive firm faces a market price of $90. The total cost of the firm is given by the co

Question Assume a competitive firm faces a market price of $90. The total cost of the firm is given by the cost curve 1 =Q+9Q+1250. Which of the following is true in the short-run situation? [Hint First calculate the profit-maximizing quantity and price, and then calculate the profit. If the profit is a negative number, then also check if the shutdown condition is satisfied.] The firm makes profit of more than $500 The firm makes a loss of $764 and should shut down The firm breaks even The firm makes a loss of $764 and should not shut down None of the above
Subject economy
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