Great Deal! Get Instant $10 FREE in Account on First Order + 10% Cashback on Every Order Order Now

Based on the following figures of a firm under a perfectly competitive market, discuss the firm’s revenue status and decision of operation in a short run. Specifically, answer (1) whether there is a...

1 answer below »
  1. Based on the following figures of a firm under a perfectly competitive market, discuss the firm’s revenue status and decision of operation in a short run. Specifically, answer (1) whether there is a profit; (2) whether the firm should shut down.
1a

1b

1c

  1. Suppose the quality of stitches increased making them both better and more expensive. Discuss how this would affect the demand and supply of stiches as well as the equilibrium price and quantity. Choose figure(s) from the study material file to support your thought.
  1. Use input market supply and demand curve to explain if there is an increase in the productivity of nurses at all health settings. Choose figure(s) from the study material file to support your thought.

Document Preview:

Week 4 Discussion Questions Initiate a thread to answer ALL the questions by Friday 11:59pm ET and respond to at least two peer’s threads by Sunday 11:59pm. Based on the following figures of a firm under a perfectly competitive market, discuss the firm’s revenue status and decision of operation in a short run. Specifically, answer (1) whether there is a profit; (2) whether the firm should shut down. 1a 1b 1c Suppose the quality of stitches increased making them both better and more expensive. Discuss how this would affect the demand and supply of stiches as well as the equilibrium price and quantity. Choose figure(s) from the study material file to support your thought. Use input market supply and demand curve to explain if there is an increase in the productivity of nurses at all health settings. Choose figure(s) from the study material file to support your thought.

Answered Same Day Dec 26, 2021

Solution

Robert answered on Dec 26 2021
125 Votes
Week 4 Discussion Questions
Initiate a thread to answer ALL the questions by Friday 11:59pm ET and respond to at least two peer’s
threads by Sunday 11:59pm.
1. Based on the following figures of a firm under a perfectly competitive market, discuss the firm’s
evenue status and decision of operation in a short run. Specifically, answer (1) whether there is a
profit; (2) whether the firm should shut down.
1a
The revenue status of firm is the positive profit because average total cost lies below the price
line which is same as average revenue curve. The firm will continue to operate in the long run
ecause it is able to recover its minimum of average variable cost at the given price line. Thus,
the firm is profitable enough to invest which will lead to normal profits in the long run as positive
profits in the short run would lead to entry of new firms making its price equal to ATC...
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here