ciples Of Economics Quiz Week 4 Chapter 6 1182 This Question

ciples Of Economics Quiz: Week 4 Chapter 6 1182 This Question: 4 pts This Quiz: 40 pls per shir indntyesenalie a Price per shrt Cost or revenue short-run supply MC ATC ST MR- price per | (2) the typical firm maximizes by picking the quantity at which | (3) each firm makes quantity demanded

Solution

Because quantity demanded equals quantity supplied. This is condition for long run equilibrium of industry. For firm ATC should be equal to price

Maximises profit by at which marginal cost equal marginal revenue. This is condition for profit maximisation

Makes 6 shirts. If there are other options mention them I will reply in comment