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08-12-2022
Advanced Placement (AP)

Answered

Auctio sells sprockets in a perfectly competitive market. Below are its short run total variable costs at different output levels. The firms fixed cost is five dollars. The market price of one sprocket is eight dollars.

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Questions to answer:
1. WHAT IS THE ATC OF THE FIFTH UNTIL?
2. WHAT IS THE FIRST UNIT OF OUTPUT WHERE DIMINISHING MARGINAL RETURNS HAVE BEGUN?
3. WHAT PROFIT OR LOSS WOULD AUCTIO EARN AT ITS PROFIT MAXIMUM? SHOW UR WORK
4. WOULD AUCTIO OPERATE IN THE SHORT RUN? EXPLAIN
5. WOULD AUCTIO STAY IN THE MARKET? EXPLAIN

Auctio sells sprockets in a perfectly competitive market Below are its short run total variable costs at different output levels The firms fixed cost is five do class=

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