You are watching: Refer to the diagram. minimum efficient scale:
TVC will increase for a time at a diminishing rate, yet then beyond some suggest will boost at boosting rate.
The diagram shows the short-run average total cost curves because that five different plant size of a firm. The place of these five curves in relation to one one more reflects:
Refer come the diagram showing the average complete cost curve for a purely competitive firm. At the long-run equilibrium level that output, this firm"s total revenue:
Refer to the diagram reflecting the average full cost curve for a purely competitive firm. In ~ the long-run equilibrium level that output, this firm"s economic profit:
Suppose a firm in a purely competitive industry discovers the the price that its product is above its minimum AVC allude but everywhere below ATC. Given this, the firm:
should continue producing in the short run yet leave the sector in the long run if the instance persists.
If a purely competitive certain is creating at the mr = MC output level and also earning an financial profit, then:
Refer come the diagram. The quantitative distinction between locations Q1bcQ2 and P1P2ba in the chart measures:
(A) there will certainly be only a common profit in the lengthy run, if in (B) an economic profit have the right to persist.
Which that the diagrams properly portrays a nondiscriminating pure monopolist"s need (D) and also marginal revenue (MR) curves?
Refer to the long-run price curve for a firm. If the firm produces calculation Q1 at an average complete cost of ATC1, climate the for sure is:
Suppose for a regulated syndicate that price amounts to minimum ATC however price over MC. This means that:
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