microeconomics

at point where MR=MC, when the firm incurs losses in the short run, the firm should?

Continue producing, but look for ways to increase revenue or cut costs.

  1. 👍 0
  2. 👎 0
  3. 👁 47
asked by Yulissa

Respond to this Question

First Name

Your Response

Similar Questions

  1. Economics

    Goodday I would like to find out whether the following statements are true:  The equilibrium of the firm and the equilibrium of the industry are the same in the short run as well as the long run.  In the short run, the firm

    asked by Haseena on April 12, 2010
  2. Economics - Short run profit maximization

    Given the following for perfectly competitive firm that has short-run cost structure Output Marginal Cost 1 $10 2 $5 3 $12 4 $23 5 $40 Total fixed costs are $20 and the market price of the product is $25 per unit. How much output

    asked by Raj Sree on June 25, 2011
  3. Microeconomics

    A perfectly competitive industry has a large number of potential entrants. Each firm has an identical cost structure such that long run average cost is minimized at an output of 10 units (qi=10 ). The minimum average cost is R5

    asked by diegooooo on August 5, 2013
  4. microeconomics

    The short-run cost curve for each firm's long run equilibrium output is C=y^2-20y+400. Calculate the short-run average and marginal cost curves. At what output level does short-run average cost reach a minimum? I already know the

    asked by Jill on April 5, 2010
  5. Economics

    Please Help You are planning to estimate a short-run production function for your firm, and you have collected the following data on labor usage and output: Labor Output 3 1 7 2 9 3 11 5 17 8 17 10 20 15 24 18 26 22 28 21 30 23

    asked by TrickyEconomics on July 22, 2009
  6. economics

    You are planning to estimate a short-run production function for your firm, and you have collected the following data on labor usage and output: Labor Usage: 3 7 9 11 17 17 20 24 26 28 30 Output: 1 2 3 5 8 10 15 18 22 21 23 1)

    asked by Anonymous on April 10, 2010
  7. economy

    a) Minimizing Losses: Whether a firm suffering losses decides to produce or not to produce in the short run depends on the benefits and costs of continuing production. Explain.

    asked by ct on April 19, 2012
  8. Managerial ECON

    You are planning to estimate a short- run production function for your firm, and you have collected the following data on labor usage (L) and output (Q): Labor usage Output 3 1 7 2 9 3 11 5 17 8 17 10 20 15 24 18 26 22 28 21 30 23

    asked by lost on November 6, 2011
  9. economics

    You are planning to estimate a short-run production function for your firm, and you have collected the following data on labor usage and output: Labor usage Output 3 1 7 2 9 3 11 5 17 8 17 10 20 15 24 18 26 22 28 21 30 23 Does a

    asked by natalie on August 18, 2008
  10. economics

    You are planning to estimate a short-run production function for your firm, and you have collected the following data on labor usage and output: Labor usage Output 3 1 7 2 9 3 11 5 17 8 17 10 20 15 24 18 26 22 28 21 30 23 Does a

    asked by natalie on August 18, 2008

More Similar Questions