17. A firm in a perfectly competitive industry faces the following long run total cost schedule: 2 4 $100 6 $140 $50 What is the price in this market? Qty TC 8 $160 10 $240 12 $360 14 $600 16 $750
Q: Suppose that the expected value of weekly profits for an ice cream shop, before paying the manager,…
A: Let we have a function f(x)The first order condition to find x value at which f(x) gets maximised…
Q: (a) Consider an agent whose preferences over any couple (1, 2), where x₁ € R+ and 2 € R+, e.g.,…
A: The utility is the total satisfaction derived by the consumption of goods. U=f(X,Y) It denotes that…
Q: 0.5, Utility function is given as Cobb Douglas functional form: U = x1.5x2.5 Price the first good:…
A: Utility function : x10.5 x20.5 Price of good 1 : p1 = 5 Price of good 2 : p2 =10 Income = 500 Above…
Q: Real-Time Data Analysis Exercise Using the data provided below, calculate the inflation rate from…
A: Inflation rate between Apr'21 and Apr'22 = (Price index in Apr'22 - Price index in Apr'21) / Price…
Q: Paul, Ringo, and George have a business where they visit people's homes to mow lawns and wash cars.…
A: Opportunity cost is the cost of producing one good in terms of other. Opportunity cost shows the…
Q: For this question, consider that the letter "A" denotes the last 4 digits of your student number.…
A: Optimal consumption bundle: The optimal consumption bundle is such that at that bundle the…
Q: 4. Explain whether each of the following events shifts the short-run aggregate-supply curve, the…
A: The total amount of goods and services that all consumers in the economy are requesting is referred…
Q: With sketches explain outages and Bath Tub Curve
A: Bath Tub Curve is a graphic demonstration of run-to-failure maintenance strategy. This graph helps…
Q: When are firms likely to enter an industry OA Fims will exit an industry when price is greater than…
A: Economic profit refers to the difference between the total revenue derived from the sales of a good…
Q: The permits the federal government to protect certain products of the mind, just as much as it…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: 9. A plant can produce 300 ceramic plates per working day. The direct cost for producing each plate…
A: Production costs include the direct and indirect costs that an entity incurs in the manufacturing of…
Q: Fill in the blanks in the balance sheet of the Flames Bank in the table below. Assume that the value…
A: The required reserve ratio will be computed by dividing an amount of money a bank will be required…
Q: 1. is a theory of oligopoly in which oligopolistic firms act as if there were is an organization of…
A: Oligopoly is a market structure in which there are few large firms in the market. The presence of…
Q: In an increasing cost industry, if there is a decrease in demand, the price in the long run will end…
A: An increasing-cost industry is one in which production costs rise as more firms compete in the…
Q: Consider a perfect competitive market with n identical firms. The cost functions of an individual…
A: Given information TC=q3-4q2+74q MC=3q2-8q+74 There are n firms are working in a perfectly…
Q: The diagram at right shows the demand curve, marginal revenue curve, and cost curves for a…
A: In a monopoly , The single price monopoly will produce where MR = MC. And A price discriminating…
Q: 4. A manufacturer desires to set aside a certain sum of money to provide funds to cover the yearly…
A: given that, Operating cost =P500.00 cost of dye = P1200.00 salvage value = P600.00
Q: Company ABC is considering investing in a project whose initial cost is $186000. It saves $42000 in…
A: Present value is the value of investment in today's dollar. Future value is the value of investment…
Q: 2- Determine the inflation-adjusted interest rate for a growth company that wants to earn a real…
A: According to fisher effect theory, Fisher equation: (1+R) = (1+r)(1+i)Where,R=Nominal interest…
Q: Suppose a producer sells 1,000 units of a product at $5 per unit one year, 2,000 units at $8 the…
A: We are aware that the price and quantity of a thing are inversely related as stated by the law of…
Q: Quantity of kilowatt hours supplied: [ nstructions: Enter your response rounded to two decimal…
A: In a competitive market, a firm produces higher output than under a monopoly. The price charged by a…
Q: Which of the following are considered money? (Check all that apply): A. Coins and paper money…
A: 1. Medium of exchange: Due to its widespread acceptance, money serves as a crucial medium of…
Q: Suppose Coca Cola and PepsiCo are producing a new, healthy version of Coke and Pepsi. They are…
A: The normal form of a game is a matrix representations of each player's strategies and corresponding…
Q: the following demand and cost functions P is selling andQ is quantity in thousands P=30-2Q…
A: Given Demand function: P=30-2Q ....(1) Total cost function: TC=Q+5Q-30 ⇒ TC=6Q-30…
Q: 4. Profit maximization and loss minimization Lagatt Green is a monopoly beer producer and…
A: Monopoly is viewed as one of the market structures of the economy. At the point when there is a…
Q: In 2008, American Airlines became the first major airline in the US to announce they would begin…
A: Sunk costs are expenses that have already been incurred, hence they have no bearing on decisions…
Q: NSWER THE FOLLOWING QUESTIONS: (Detailed responses (4-5 paragraphs for each question. No short…
A: Disclaimer: - Since you asked multipart question, we are solving first 3 subparts as per guidelines.…
Q: The following model studies human welfare using the General Social Survey in the US: happy = 0.014…
A: The regression equation is given by: Happy = 0.014 + 0.209 regattend + 0.103 occattend + 0.027…
Q: . Customer information that may be sold by banks include all of the following, EXCEPT a. loan…
A: Banks holds information with respect to borrower loan history, its investments and bank balance it…
Q: If the firms in a Cournot duopoly merge forming a monopoly, the effect on price, profit, and other…
A:
Q: The table below shows the supply and demand conditions for a firm that will play trumpets on the…
A: Social cost is the sum of private costs and external costs imposed on society. A supply curve…
Q: Answer the following A. Banks and other businesses a. often treat their customers' personal…
A: Note: You have uploaded more than one question at a time. Hence, we shall answer only the first one…
Q: Which of the following are John Maynard Keynes' motives for holding money rather than investing?…
A: John Maynard Keynes discusses the three motives why individuals hold money, In his book "The General…
Q: In the short run, given a market price equal to $15 per overalls, the firm should produce a daily…
A: In a perfectly competitive market, the firm produces at the point where its marginal cost is equal…
Q: Suppose the game between player 1 and player 2 that is illustrated in the payoff matrix below.…
A: Player 2's expected payoff under mixed strategy Nash equilibrium is calculated as = probability…
Q: Assume that a six-firm cartel supplies 500 million units of Whatailsya energy drink at a price of…
A: A cartel is a group of producers who decide on the level of production as a group to maximize total…
Q: What is the advantage of monetary policy over fiscal policy? O. Monetary policy can be implemented…
A: The policy that is related to taxes and government spending is known as fiscal policy. The policies…
Q: A Monopoly: Select one: O a. faces a downward sloping demand curve O b. None of the provided answers…
A: Monopoly is the market structure where there is only a single seller of the good in the market. This…
Q: QUESTION 4 Directions: Use the given scenarios and the information you have learned about Fiscal and…
A: The macroeconomic tools which the government uses to intervene and correct any imbalances in the…
Q: Advantages and disadvantages of ASEAN Free Trade Area (AFTA)
A: ASEAN Free Trade Area refers to the trade bloc agreement supporting the local trade of all ASEAN…
Q: 8-37 which option should be chosen. A firm must decide which of three alternatives to adopt to…
A: Defending a challenger The investment that has the lowest investment is chosen as the defender,…
Q: 164 Indians CHAPTER 4 REGRESSION MODELS 9 (a) Develop a regression model to predict the price of…
A: The regression model tells about the relationship between the dependent variable(Y) and one or more…
Q: II. True or False short explanations are needed if False) 1. Suppose a long-lasting bad business…
A: In the above give questions, we have been given with 4 statements and we need to judge whether it is…
Q: 12. Over the last decade, robotic-drone a research and development company has researched in new…
A: Given information $90M sales annually with 20% probability. $76M sales annually with 45%…
Q: Contrast a money-back guarantee and a warranty.
A: The producers offer money back guarantee and warranty so that the good looks promising to the…
Q: The General Hospital is evaluating new office equipment offered by four companies. In each case the…
A: While making a decision across different alternatives, the firm chooses that alternate which…
Q: Do you agree or disagree with the following statement: "Because a small dollar amount is involved, a…
A: A person who is usually paid to work for another person or business is an employee. Employees need…
Q: An economist estimated that the cost function of a single-product firm is: C(Q) = 90 + 30Q + 25Q2 +…
A: Fixed cost is the cost that doesn't change with the increase or decrease in quantity. Average fixed…
Q: Consider the following problem. Demand: q = 100-p Retailer: marginal cost of selling r = 10 per unit…
A: Vertical integration is a term that describes the arrangement in which the supply chain of a…
Q: The "Freshman 15" refers to the belief that college students gain 15 lb (or 6.8 kg) during their…
A: Null hypothesis: H0: μd = 0. Alternative hypothesis: H1: μd >0. Paired t-test statistic: In…
Only typed Answer
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- $ $50 MC $45 $40 $35 $20 0 MR 10 10 20 25 40 40 Quantity How much profit will this firm make? ATC Dcompetitive market. If the market price is $30 and if the fitm is producing output, what is the amount of its total vanable cost? 15. The ngure below shows the cost curves for a profit-maxintizing firm in a periecuy Price TVC and cost TC.FTC AY83 MC ATC AVC TVに $40 50 36.00 30.00 MR 22.00 20.00Your food-services company has been named as the sole provider of meals at a small university. The cost and demand schedules are: Sold per Day 0 100 200 300 400 500 600 700 Price per Meal $3.50 $3.25 $3.00 $2.75 $2.50 $2.25 $2.00 $1.75 O A. 700 meals at $1.75 per meal. OB. 300 meals at $2.75 per meal. OC. 600 meals at $2.00 per meal. OD. 400 meals at $2.50 per meal. ✔ OE. 500 meals at $2.25 per meal. Total Fixed Cost $150 $150 $150 $150 $150 $150 $150 $150 ... Total Variable Cost $300 $500 $650 $750 $840 $905 $995 Total Revenue 0 $325 $600 $825 $1,000 $1,125 $1,200 $1,225
- Apex is a perfectly competitive firm. It has total fixed costs of $300/day and a daily variable cost schedule in the table below. Apex’s product sells for $200 per unit. Quantity (units) 0 1 2 3 4 5 6 7 8 9 10Total Variable Cost (TVC) 0 100 180 220 300 390 500 640 800 1000 1250Answer the following questions:1. If the market price dropped to $80, what is the profit-maximizing level of output? What is Apex’s profit (or loss) in this case?2. If the market price dropped further to $40, what is the profit-maximizing level of output? What is Apex’s profit (or loss) in this case?3. Comment on your answers to parts (1) and (2).$10 MC ATC AVC 1 2 3 4 5 6 7 8 9 10 Quantity (in 1,000s) Suppose this firm operates in a perfectly competitive market. (8) If the market price (the price the firm must take) is $3, what quantity maximizes profits? What is profit? (9) If the market price (the price the firm must take) is $5.50, what quantity maximizes profits? What is profit? (10) If the market price (the price the firm must take) is $9, what quantity maximizes profits? What is profit? 4- 3. Cost per unitPrice and costs $30 $25 $20 $17.50 $15 $10 $5 0 $4.40 3.25 MR 1 2 3 4 MC 5 b. What is total cost for this firm? ATC Demand 6 7 8 9 10 Quantity Instructions: Round your answers to 2 decimal places. a. What is total revenue for this firm? c. What is this firm's economic profit? Click to select) V equilibrium
- Figure 16-12 100 Price 90 80 MC ATC 70 58 60 50 40 36 30 + 20 10 + MR 4 8 12 16 20,24 28 32 Buaxtity c) Does the firm minimize cost? Why or why not? How much excess capacity does this firm have?Price and cost (dollars) 20 15.75 12 21 11 A C SMC 1000 ATC AVC D=MR = $20 6,000 8,000 Quantity The above graph is for a perfectly competitive firm. The curve labelled "SMC " is the Marginal Cost curve, D = Demand and Marginal Revenue curve, ATC= average total cost curve, AVC is the average variable cost curve. (a) What is the profit maximizing price and output? (b) At the profit maximizing price and output what is the average total cost and average variable cost and average fixed cost? (c) At the profit maximizing price and output what is the amount of profit earned by this firm? (d) At what price would the firm earn zero profit (or loss)?of Price, P (€); cost 8 3.70 Ni 2.50 2 0 0 20 40 60 80 160 140 120 100 Quantity of loaves, Q 180 Marginal cost curve 200 Isoprofit curve: €200 Isoprofit curve: €80 Firm's demand curve Zero-economic- profit curve (AC curve) The diagram shows a price-taking bakery's marginal and average cost curves, and its isoprofit curves. The current market price for bread is P*= 2.50. Which of the following statements is correct? Select one: a. If the market price rises to 3.70, the bakery's profit increases to 200. b. The bakery's supply curve is horizontal. c. The bakery maximises its profits when the price is equal to the average cost. d. The bakery maximises its profits by supplying 160 loaves. e. The bakery's profit is 200.
- $10 987654321 Figure 10-8 JMC F 100 AC 200 300 AVC Figure 10-8 displays the cost curves of a perfectly competitive firm. Profits at a price of $10 would be approximately a. $10 per unit. b. $1 per unit. c. $3 per unit. d. $5 per unit.Pls don't use AI solution Consider a firm operating in a competitive market. The firm is producing 50 units of output, has an average total cost of production equal to 7 dirhams, and is earning 350 dirhams economic profit in the short run. What is the current market price?.Output 1 2 3 4 5 6 7 8 9 10 AFC $ 300 150 100 75 60 50 43 38 33 30 Multiple Choice AVC $ 100 75 production of 4 units. produce 6 units. shut down. 70 73 80 90 103 119 138 160 The accompanying table shows cost data for a firm that is selling in a purely competitive market. If the market price for the firm's product is $80, the firm will produce 5 units. ATC $ 400 225 170 148 140 140 146 156 171 190 MC $100 50 60 80 110 140 180 230 290 360