Plastic and Co manufactures industrial plastic containers. As petroleum prices fall, the price of plastic materials also falls. As a result,

a: Plastic and Co’s marginal cost curve will shift.
b: The market price for the plastic containers will rise, other things equal.
c: The fixed cost curve for Plastic and Co would shift downward.
d: Average cost curve of plastic containers will shift upward.

When ________, a competitive firm will produce and earn economic profits.

a: marginal revenue is rising
b: marginal costs are decreasing
c: marginal revenue is above average costs
d: marginal revenue = average total cost = marginal costs

Question

07-06-2021
Business

Answered

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Plastic and Co manufactures industrial plastic containers. As petroleum prices fall, the price of plastic materials also falls. As a result,

a: Plastic and Co’s marginal cost curve will shift.
b: The market price for the plastic containers will rise, other things equal.
c: The fixed cost curve for Plastic and Co would shift downward.
d: Average cost curve of plastic containers will shift upward.

When ________, a competitive firm will produce and earn economic profits.

a: marginal revenue is rising
b: marginal costs are decreasing
c: marginal revenue is above average costs
d: marginal revenue = average total cost = marginal costs

Sagot :

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machiechidinma5 machiechidinma5 · Answer 1 · 2021-06-07T11:01:09-04:00

machiechidinma5 machiechidinma5

07-06-2021

The plastic and CO’s marginal cost curve will shift

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anjithaka anjithaka · Answer 2 · 2022-07-29T04:51:23-04:00

Plastic and Co's marginal cost curve will move. The fixed cost curve for Plastic and Co would move below.

Therefore, the correct answer is option a: Plastic and Co’s marginal cost curve will shift.

What is marginal revenue?

Marginal revenue exists in the increase in income that happens from the deal of one additional unit of product.

If the market price obtained by a completely competitive firm directs it to construct at a portion where the price stands more significant than the average cost, the company will accumulate profits.

Therefore, the correct answer is option c: marginal revenue is above average costs.

To learn more about Marginal revenue refer to:

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Sagot :

What is marginal revenue?

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