1 answer

The table below shows the cost information for a firm in a perfectly competitive industry. What...

Question:

The table below shows the cost information for a firm in a perfectly competitive industry. What would be the shut down price
The table below shows the cost information for a firm in a perfectly competitive industry. What would be the shut down price for this firm? FC va MC AFC Q 0 AVC ATC 1 200 200 200 200.0 2 100.0 3 200 4 66.7 50.0 5 6 7 8 9 ТС 200 217 232 245 259 276 297 321 348 378 411 447 486 528 573 621 672 726 783 843 906 17 32 45 59 76 97 121 148 178 211 247 286 328 373 421 472 526 583 643 706 17 15 13 14 17 21 24 27 30 33 36 39 42 45 48 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 200 10 17.0 16.0 15.0 14.8 15.2 16.2 17.3 18.5 19.8 21.1 22.5 23.8 25.2 26.6 28.1 29.5 217.0 116.0 81.7 64.8 55.2 49.5 45.9 43.5 42.0 41.1 40.6 40.5 40.6 40.9 41.4 42.0 11 12 40.0 33.3 28.6 25.0 22.2 20.0 18.2 16.7 15.4 14.3 13.3 12.5 11.8 11.1 10.5 10.0 mi 13 14 15 16 17 18 19 20 51 54 30.9 57 60 32.4 33.8 35.3 42.7 43.5 44.4 45.3 63 Answer:

Answers

Firm shut down when price is equal to minimum of AVC.

Minimum AVC = 14.8

Thus, price must be 14.8.

.

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