Ch. 11 - Perfect CompetitionWorksheetSee all chapters
 Ch. 1 - Introduction to Microeconomics 1hr & 57mins 0% complete Worksheet Ch. 2 - Introductory Economic Models 1hr & 30mins 0% complete Worksheet Ch. 3 - Supply and Demand 3hrs & 49mins 0% complete Worksheet Ch. 4 - Elasticity 2hrs & 31mins 0% complete Worksheet Ch. 5 - Consumer and Producer Surplus; Price Ceilings and Floors 3hrs & 45mins 0% complete Worksheet Ch. 6 - Introduction to Taxes and Subsidies 1hr & 47mins 0% complete Worksheet Ch. 7 - Externalities 1hr & 21mins 0% complete Worksheet Ch. 8 - The Types of Goods 1hr & 13mins 0% complete Worksheet Ch. 9 - International Trade 1hr & 27mins 0% complete Worksheet Ch. 10 - The Costs of Production 2hrs & 46mins 0% complete Worksheet Ch. 11 - Perfect Competition 2hrs & 24mins 0% complete Worksheet Ch. 12 - Monopoly 2hrs & 13mins 0% complete Worksheet Ch. 13 - Monopolistic Competition 1hr & 11mins 0% complete Worksheet Ch. 14 - Oligopoly 1hr & 26mins 0% complete Worksheet Ch. 15 - Markets for the Factors of Production 1hr & 34mins 0% complete Worksheet Ch. 16 - Income Inequality and Poverty 36mins 0% complete Worksheet Ch. 17 - Asymmetric Information, Voting, and Public Choice 39mins 0% complete Worksheet Ch. 18 - Consumer Choice and Behavioral Economics 1hr & 16mins 0% complete Worksheet
###### We shutdown the business if producing units will cause us to lose more money.

Concept #1: Short Run Shutdown Decision

Concept #2: Short Run Shutdown Decision (continued)

Concept #3: Short Run Shutdown Decision on the Graph

Practice: The price for a pair of edible underpants is $50. In the short-run, the firm should: Practice: The price for a pair of edible underpants is$50. In the short-run, the firm’s total revenue is:

Practice: The price for a pair of edible underpants is \$50. In the short-run, the firm’s profit (or loss) is:

Practice: The firm shuts down at any price below:

Practice: What is the least amount of output, assuming the firm does not shut down?

Practice: If the price falls from P4 to P3, then output will decrease by