9 questions
Is the park operating at the minimum cost?
YES
NO
What is the equilibrium output/sale level?
50
100
150
200
What is the per unit and total profit at the equilibrium level?
100 and 5000
30 and 1500
70 and 3500
50 and 3500
When AP is rising MP is above it and when AP is falling MP is below it! Let's understand...
TRUE
FALSE
When AP is rising MP is above it, then AC will be falling! Let's discuss..
TRUE
FALSE
Which market structure is this? Let's discuss
Monopoly
Oligopoly
Monopolistic Competition
Perfect Competition
At the shutdown point_______.
Let's Discuss!!!
AR=ATC
AR=AVC
AR=AFC
MR=MC
What's the market equilibrium price and output?
Does the firm earn supernormal or normal profit?
$20 and 100; normal profit
$20 and 100; supernormal profit
$100 and 20, Supernormal Profit
$100 and 20, Normal Profit
The graph shows the cost-revenue scenario for Disney Amusement park. What is the equilibrium price for a two day package at the park ?
$100
$170
$200
$50