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- What is the meaning of ''acceptable loss'' for a perfectly competitive firm? Draw a graph and explain. please more detail.What is the meaning of ''acceptable loss'' for a perfectly competitive firm? Draw a graph and explai n.Using graph, explain when the firm in a competitive market is in equilibrium?
- What does acceptable loss mean for a competitive firm? Explain and Draw a graphCan you create a graph showing perfect competition for grocery stores in a rural area ? And explain the graph?The situation facing by firm "Smart", a producer of running shoes, is shown in the following figure. 100 MC ATC 80 60 40 20 MR 50 100 150 200 Quantity (pairs of running shoes per week) a. What quantity does Smart Shoes produce? Answer: b. What is the price of a pair of Smart shoes? Answer: c. What is Smart's economic profit or economic loss? Answer: Why MR curve is below to demand curve Price and cost (dollars per pair) 8
- What is the long-run market supply curve for hibiscus plants? Graph it.3- Conisder the following graph of a firm in the industry to answer the following: MC, ATC Units of Y A. Is this firm working in a comppitive market or monomply? Exp B. Is it working in short or long run? Explain. C. Does this firm achive economic profits, or losses, or breakeven? Explain.Question 8 Using the graph, at which quantity will the firm maximize its profits? MC CO Ob Ос Od b c ATC P= MR-AR
- Review View Tell me what you want to do... Aa - 三 AaBbCcDc AABBCCI AaBbCcD AaBbC ,吵,A T Normal Body Text 1 No Spac. Heading 1 Paragraph Styles Question 2. MC ATC A VC 2.8 10 11 12 Quan lily (per day 8 The graph above skows the cost structure of a perfectly competitive firm. Use the graph above to answer the following questions. a. At which price the firm will earn zero economic profit b. What is the shut-down price? c. Above what price the firm will earn positive economic profit? d. At what price range the firm will incur a loss? Why would it continue the production? Explain. e. Show the supply curve of the firm on the graph. Explain. | 99+ ASUS Price and cosb (dollas)When will a firm enter a competitive market?What is the shape of the demand curve faced by the perfectly competitive firm? Explain your answer with a diagram.