BIOL 473- Final Exam Guide - Comprehensive Notes for the exam ( 183 pages long!)

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What are the profits: suppose, in question 1 above, that fixed costs were instead of . Should the firm continue to operate in the short run: suppose a perfectly competitive firm has the short-run cost function c 125 q2. Use the derivative for(cid:373)ula or (cid:373)argi(cid:374)al cost to deter(cid:373)i(cid:374)e the fir(cid:373)"s output level a(cid:374)d profit at prices of. If a firm makes zero economic profit, then the firm. A) has no incentive to stay in the industry. C) is indifferent between staying and exiting the industry. If the firm is to earn economic profit, price must exceed. The above figure shows the cost curves for a competitive firm. If the market price is per unit, the firm will earn profits of. D) : suppose a firm has the following total cost function: tc = 100 + 42. Contaminants move through an organism at different rates and with different results.