The figure below shows cost curves of a firm in a competitive market. The firm always makes the choice to maximize its profit.
-Refer to the figure above.If the market price of the product is $3.25,what is the firm's fixed cost?
Definitions:
Cystic Fibrosis
A genetic disorder that affects the lungs, pancreas, and other organs, leading to thick sticky mucus production, which causes respiratory and digestive problems.
Foul-Smelling Stools
A symptom often associated with gastrointestinal problems, where the stool exudes an unusually strong, bad odor, indicating possible infections or malabsorption issues.
Sweat Chloride Test
A diagnostic test used primarily to test for Cystic Fibrosis by measuring the amount of chloride in sweat.
Cystic Fibrosis
A hereditary disorder affecting the exocrine glands, causing the production of abnormally thick mucus, leading to blockage of the pancreatic ducts, intestines, and bronchi and resulting in respiratory and digestive problems.
Q2: Other things remaining same,a leftward shift in
Q29: In a perfectly competitive market,firms earn zero
Q48: Which of the following is true of
Q66: What is likely to happen to the
Q105: Refer to the table above.From 2000 to
Q117: Refer to the figure above.If the price
Q173: Refer to the scenario above.What is the
Q221: In a competitive market,there are a _
Q237: A production possibilities curve shows the _.<br>A)
Q244: With an increase in the demand for