Econ homework 04 (5 lectures)
1. the questions need only short answers or short paragraphs.
2. do not copy from the websites. and no need to use the websites. you will find all the answers in the short videos link in each lecture.
3. using the text book also to find everything, i will upload it too.
4. do not copy from anywhere that have the answer. (Taking F if copied from others).
5. they are 5 lecture questions (each one has some questions need to answer). + lecture #4 and #5 will upload it later.
6. use red color for the answers and keep all the questions.
7. put all references that u used from the lectures.
8. no other references will be accepted except the links in each lecture and the textbook.
Solution Preview
Outline for Lecture 18
Depending on the market price (determined by market demand and supply), the competitive firm may face three scenarios in the short run: profit maximization, loss minimization, and shutdown.
Profit-Maximizing Case
The first five columns of the table accompanying Figure 10.3 present cost data for a competitive firm. In the 6th column, we have the market price of $130, which equals marginal revenue.
(996 words)