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(Solved): Please answer everything, they are all based on the figure below. I will definitely thanks! &n ...



Please answer everything, they are all based on the figure below. I will definitely ???? thanks!

 

Refer to Figure 1. The firm should shut down if the market price is
a. above \( \$ 14 \).
b. above \( \$ 12 \) but less than

 

Refer to Figure 1. When the price of the good is \( \$ 14 \), the firms maximum profit is
a. \( \quad \$ 240 \).
b. \( \quad

 

Refer to Figure 1. When the price of the good is \( \$ 12 \), the firms maximum profit is
a. \( \$ 0 \).
b. \( \$ 240 \).
c.

 

Refer to Figure 1. When the price of the good is \( 11 \$ \), the company
a. profits are in between 0 and \( -\mathrm{FC} \),

 

Refer to Figure 1. The firm should shut down if the market price is a. above \( \$ 14 \). b. above \( \$ 12 \) but less than \( \$ 14 \). c. above \( \$ 10 \) but less than \( \$ 12 \). d. less than \( \$ 10 \). Refer to Figure 1. When the price of the good is \( \$ 14 \), the firm's maximum profit is a. \( \quad \$ 240 \). b. \( \quad \$ 180 \). c. There is not enough information to determine the firm's maximum profit. d. \( \quad \$ 1680 \). Refer to Figure 1. When the price of the good is \( \$ 12 \), the firm's maximum profit is a. \( \$ 0 \). b. \( \$ 240 \). c. There is not enough information to determine the firm's maximum profit. d. \( \$ 1500 \). Refer to Figure 1. When the price of the good is \( 11 \$ \), the company a. profits are in between 0 and \( -\mathrm{FC} \), so it should exit the market because profits are negative. b. profits are less than \( -\mathrm{FC} \), so it should exit the market because profits are negative. c. profits are in between 0 and \( -F C \), higher than the \( -F C \), so it should stay to cover partially \( F C \). d. None of the above are correct.


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The firm should shut down if the market price when firm earn 0 economic profit, and if any firm earns loss. Therefore if Price is below 10 which is be
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