Two electric vehicle charging networks, VoltHub and ChargeLoop, must decide whether to enter a small metro market. Their profit (in millions) is shown in the payoff matrix below.ChargeLoop: EnterChargeLoop: Stay OutVoltHub: Enter4, 412, 2VoltHub: Stay Out1, 106, 6Which outcome is a Nash equilibrium?

A firm has fixed cost of $120. Its total cost when producing 8 units is $200. What is the average variable cost at 8 units?

On the perfect competition firm graph below, market price is $18. The firm produces where MC intersects MR. At that quantity, average total cost is $15. Which statement is correct? E229.png

A competitive firm faces price of $7. At every output level, average variable cost is above $8. The firm should:

Which of the following would most likely shift a firm’s marginal cost curve upward?

A competitive firm’s total revenue is $720 when it sells 60 units. What is marginal revenue from selling one more unit?

If average variable cost is falling, then marginal cost must be:

Which of the following would cause a competitive firm’s short-run supply curve to shift left?

A firm’s average total cost is minimized at the output where:

According to The Concreteness Effect, which of these would be MOST difficult to remember?