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
The four main factors of production are land, or the physical space and natural resources, labor, or the workers, capital, or the money and equipment, and entrepreneurship, or the ideas and drive, which are used together to make a successful attempt at selling a product or service according to traditional economic ...
Answer:
b. Liabilities are understated by $4,167 accrued interest payable
Explanation:
<span>he means that it is as simple as black people being subordinate to white people
i hope this helps you
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