Enable text based alternatives for graph display and drawing entry

Try another version of these questions

Question 1

The graph below shows cost curves for a firm operating in a perfectly competitive market.

Suppose that the equilibrium price is $14 (black line). This firm is earning

 

Hint


Question 2

The graph below shows cost curves for a typical firm operating in a perfectly competitive market.

Suppose that the equilibrium price is $28.66 (black line). What will happen in this market in the long run?

 

Hint


Question 3

The graph below shows cost curves for a typical firm operating in a perfectly competitive market.

Suppose that the equilibrium price is $7.92 (black line). What will happen in this market in the long run?

 

Hint


Question 4

The graph below shows cost curves for a typical firm operating in a perfectly competitive market.

Suppose that the equilibrium price is $16.982372141153 (black line). What will happen in this market in the long run?

 

Hint


Question 5

The graph below shows cost curves for a typical firm operating in a perfectly competitive market.

Suppose that the equilibrium price is $16 (black line). What will happen in this market in the long run?

 

Hint