Solved

A Perfectly Competitive Firm Produces 3000 Units of a Good

Question 138

Multiple Choice

A perfectly competitive firm produces 3000 units of a good at a total cost of $36 000.The price of each good is $10.Calculate the firm's short-run profit or loss.


A) Loss of $6000
B) Profit of $6000
C) Profit of $30 000
D) There is insufficient information to answer the question.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q21: An individual seller in perfect competition will

Q32: If price = marginal cost at the

Q37: For a given quantity, the total profit

Q61: A perfectly competitive wheat farmer in a

Q137: Figure 7-8 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4180/.jpg" alt="Figure 7-8

Q139: If a perfectly competitive apple farm's marginal

Q147: In the short run, a firm that

Q151: In the short run, a firm might

Q162: In the short run, if a firm

Q202: Which of the following is a characteristic