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Shutdown Point Case (Average Variable Cost = Market Price < Average Total Cost) If the market price in the above example = $162.46, let's answer the following 3 questions:(1) Should the firm produce? The firm should produce as long as the market price >= Average Variable Cost (AVC).(2) If so, how much?- Profit Maximizing Rule: A firm maximizes profit by continuing to produce and sell output until Marginal Revenue (MR) = Marginal Cost (MC).- In pure competition, price = marginal revenue, so in purely competitive industries the rule can be restated as the firm should produce that output where P = MC, because P = MR.(3) What will be the profit or loss? The profit (or loss) = [Market Price - ATC] * Output
Illustrate what difference does it make to the tying arrangement issues if the Internet Explorer is a functionally integrated component.
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Though it does lead to an interesting next question. Illustrate what do you think would happen to sale and price of DVDs after this.
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