Question :   20) Computer memory chips produced wafers, each wafer having : 1226173

 

 

 

 

20) Computer memory chips are produced on wafers, each wafer having many separate chips that are separated and sold. The above table shows costs for a perfectly competitive producer of computer memory chips. If the market price of a wafer is $2,400 dollars, how many wafers will the firm produce?

A) 0

B) 4 or 5

C) 3 or 4

D) 1 or 2

E) 6

 

21) Computer memory chips are produced on wafers, each wafer having many separate chips that are separated and sold. The above table shows costs for a perfectly competitive producer of computer memory chips. If the market price of a wafer is $2,400 dollars, the firm is

A) making zero economic profit.

B) making an economic profit of $12,000 an hour.

C) incurring an economic loss of $2,800 an hour.

D) incurring an economic loss of $2,000 an hour.

E) making an economic profit of $2,400 an hour.

22) Computer memory chips are produced on wafers, each wafer having many separate chips that are separated and sold. The above table shows costs for a perfectly competitive producer of computer memory chips. This firm will produce as long as the market price of a wafer is above

A) $1,300.

B) $1,400.

C) $7,900.

D) $2,800.

E) $9,800.

 

23) The above figure shows a perfectly competitive firm. If the market price is $15, the firm

A) is incurring an economic loss.

B) is making an economic profit.

C) is making zero economic profit.

D) will immediately shut down.

E) might shut down but more information is needed about the AVC.

24) The above figure shows a perfectly competitive firm. If the market price is $10, the firm

A) is incurring an economic loss.

B) is making an economic profit.

C) is making zero economic profit.

D) will immediately shut down.

E) might shut down but more information is needed about the AVC.

 

25) The above figure shows a perfectly competitive firm. If the market price is $5, the firm

A) might shut down but more information is needed about the AVC.

B) is making an economic profit.

C) is making zero economic profit.

D) will immediately shut down.

E) will not shut down.

26) The above figure shows a perfectly competitive firm. If the market price is more than $20 per unit, the firm

A) will definitely shut down to minimize its losses.

B) will stay open to produce and will make zero economic profit.

C) will stay open to produce and will incur an economic loss.

D) will stay open to produce and will make an economic profit.

E) might shut down but more information is needed about the fixed cost.

 

27) The above figure shows a perfectly competitive firm. If the market price is $20 per unit, the firm

A) will definitely shut down to minimize its losses.

B) will stay open to produce and will make zero economic profit.

C) will stay open to produce and will incur an economic loss.

D) will stay open to produce and will make an economic profit.

E) might shut down but more information is needed about the fixed cost.

28) The above figure shows a perfectly competitive firm. If the market price is $15 per unit, the firm

A) will definitely shut down to minimize its losses.

B) will stay open to produce and will make zero economic profit.

C) will stay open to produce and will incur an economic loss.

D) will stay open to produce and will make an economic profit.

E) might shut down but more information is needed about the fixed cost.

 

29) The above figure shows a perfectly competitive firm. If the market price is $5 per unit, the firm

A) will definitely shut down to minimize its losses.

B) will stay open to produce and will make zero economic profit.

C) will stay open to produce and will incur an economic loss.

D) will stay open to produce and will make an economic profit.

E) might shut down but more information is needed about the fixed cost.

30) The figure above shows a perfectly competitive firm. If the market price is $40 per unit, then the firm produces ________ units and makes an economic profit that is ________.

A) more than 45; more than $400

B) 40; more than $400

C) 40; less than $400

D) 30; equal to zero

E) 30; more than $250

 

31) The figure above shows a perfectly competitive firm. If the market price is $20 per unit, then the firm produces ________ units and makes an economic profit that is ________.

A) more than 30; more than $100

B) 30; more than $100

C) 20; less than $400

D) 0; zero

E) 30; zero