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LiRa [457]
3 years ago
15

Equilibrium price is $8 in a perfectly competitive market. For a perfectly competitive firm, MR = MC at 150 units of output. At

150 units, ATC is $11, and AVC is $10. The best policy for this firm is to __________ in the short run. Also, total fixed cost equals __________ and total variable cost equals __________ for this firm.
Business
1 answer:
Ghella [55]3 years ago
4 0

Answer:

Shut down

$1650

$1500

Explanation:

A perfect competition is characterised by many buyers and sellers of homogeneous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

in the shut run, a perfect competition should shut down if average variable cost is greater than price. this is the case for this firm $10 is greater than $8.

total fixed cost = average fixed cost x quantity produced = $11 x 150 = $1650

Total variable cost = average variable cost x quantity produced = $10 x 150 = $1500

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Arturiano [62]

The complete question should have been:

Malcolm Industries recently hired a large number of workers for the company's new construction factory in Colorado. During the hiring process, the management made a clear effort to recruit physically strong individuals because the work at the factory involves manual labor. The jobs need to be performed by individuals who have the energy and physical stamina to work for long hours. Which of the following surface-level characteristics did the company most likely concentrate on when selecting the new workers?

A.) Age

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Answer: Age.

Explanation:

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3 years ago
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Answer:

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Explanation:

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2 years ago
Data must be converted into information to be considered useful and meaningful for decision-making. There are six characteristic
maria [59]

Answer:

it is representative of the characteristic of

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3 years ago
B. If 18,000 units are produced, what is the variable cost per unit?C. If 21,000 units are produced, what are the total variable
alexdok [17]

Answer:

Instructions are listed below.

Explanation:

<u>Looking on the internet I found the necessary information to solve this problem:</u>

Giving the following information:

Units= 16,000

Fixed Overhead= $5*16,000= 80,000

Direct material= 12

Direct labor= 9

Indirect material= 1 (part of overhead)

variable overhead= 2

B. Units= 18,000

Variable cost per unit= direct material + direct labor + variable overhead= 12 + 9 + (2+1)= 24

C. Units=  21,000

Total variable cost= unitary cost* number of units

TVC= 24*21,000= $504,000

D. Units= 11,000

TVC= 24*11,000= $264,000

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Total overhead= 3*23,000 + 80,000= $149,000

G. Units= 19,000

Unitary overhead= total overhead/ number of units

Unitary overhead= 3 + (80,000/19,000)= $7.21

H. Units= 25,000

Unitary overhead= 3 + (80,000/25,000)= $6.2

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