A firm has cost curves given by the figure below. If the price is $7/unit, this firm should produce ______ units/week in the short run and produce ______ units/week in the long run.60 ... 6060 ... 9090 ... 6090 ... 50

If the price is $7/unit, this firm should ___________ in the short run and ______________ in the long run.shut down ... shut downproduce 30 units a week ... shut downproduce 30 units/week ... produce 20 units/weekproduce 60 units per week ... produce 30 units per week

Consider a firm operating in a competitive market in the short run. The table below shows the firm’s total cost of production at various output levels. Assume the firm cannot supply more than 7 units in the short run. At a market price of $9, how many units of output should the firm supply? Output (q) FC ($) VC ($)0 10 01 10 22 10 63 10 104 10 155 10 216 10 307 10 40

Assume that in the short run a firm is producing 100 units of output, has average total costs of $200, and has average variable costs of $150. The firm's total fixed costs areMultiple Choice$5,000.$500.$0.50.$50.

Samuel manufactures a single product. Total cost per unit is $70 when production is 100 unitsper week, and $62.50 when production is 160 units per week.What are the total fixed costs per week?A $450 B $750 C $1200 D $2000

Assume that a firm in a perfectly competitive industry faces a prevailing market price of $75 and has the following total cost schedule: Quantity: 0, 20, 40, 60, 80, 100, 120, 130, 140 TC: 300, 700, 1000, 1900, 2900, 4400, 6900, 10000, 15000 TR: Profit/Loss: MC: MR: