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6 January, 06:28

Market supply is P = 10+0.5Q and market demand is P = 150-3Q in a perfectly competitive market. If a firm has fixed costs of 60, Variable Costs V C = 6q2 and Marginal Cost MC = 15q, which of the following will be true in the short run:

A. The firm will be producing and making positive profits.

B. The firm will be producing, but making a loss.

C. The firm will shut down.

D. Not enough information to tell.

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Answers (1)
  1. 6 January, 06:51
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    C. The firm will shut down.
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