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If for a perfectly competitive firm, price is Rs. 60, output is 300 units, average variable costs are Rs. 18, and average total costs are Rs. 36. The firm'sprofits are equal to

If for a perfectly competitive firm, price is Rs. 60, output is 300 units, average variable costs are Rs. 18, and average total costs are Rs. 36. The firm'sprofits are equal to Correct Answer Rs. 7200

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If for a perfectly competitive firm, price is Rs 7.2, output is 4500 units, average variable costs are Rs 1.2, and average total costs are Rs 4. The firm's profits are equal to
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12th January, 500 units @ Rs. 14 per unit
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2. MC = MR = AC = AR shows the equilibrium position of the competitive firm.
3. One way the government can induce a monopolist to expand his output by imposing a price floor that makes the monopolist raise his price.
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Variable manufacturing costs: Rs. 12 per unit
Variable selling costs: Rs. 3 per unit
Fixed factory overheads: Rs. 5,00,000
Fixed selling costs: Rs. 3,00,000
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2. short period equilibrium for a firm under oligopoly
3. long period equilibrium
4. long period equilibrium for a firm under perfect competitions
Select the correct answer
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