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- A firm in a perfectly competitive market has the following cost function: c(q) 8q2 + 228. If the market price of their product is $161, what is their profit? Round your answer to 2 decimal places.Assume a competitive firm faces a market price of $100, a cost curve of: C = 0.25q + 50q + 1,600 and a marginal cost curve of: MC = 0.50g + 50. The firm's profit maximizing output level is 100.00 units, the profit per unit is $9.00, and total profit is: $900.00. However, if the firm wanted to maximize the profit per unit, how much would it produce? It would produce units. (round your answer to two decimal places) If the firm produced this output level, what would be the profit? Its profit would be S. (round your answer to the nearest penny)Suppose the cost function for a firm is given by C(Q) = 100 + Q?. If the firm sells output in a perfectly competitive market and other firms in the industry sell output at a price of $10, what level of output should the firm produce to maximize profits or minimize losses? What will be the level of profits or losses if the firm makes the optimal decision?
- The market for smart thermostats has grown increasingly competitive. Producers of smart thermostats all rely on the same technology and face the same costs. The cost function for a smart thermostat producer is given by the following function: c(y)=-10y+2003 where y stands for the number of smart thermostats produced and sold in a month. 2nd attempt Suppose the market demand for smart thermostats in any month is given by QD = 305 - p. In the long-run equilibrium, we would expect to find firms in the industry. See HintA particular computing company finds that its weekly profit, in dollars, from the production and sale of x laptop computers is P(x) = -0.006x³ -0.3x² +600x-800. Currently the company builds and sells 7 laptops weekly a) What is the current weekly profit? b) How much profit would be lost if production and sales dropped to 6 laptops weekly? c) What is the marginal profit when x = 7? d) Use the answer from part (a) and (c) to estimate the profit resulting from the production and sale of 8 laptops weekly a) The current weekly profit is $ (Round to the nearest cent as needed) b) The decrease in profit is $ (Round to the nearest cent as needed.) c) The marginal profit when x=7 is $ (Round to the nearest cent as needed) CLOT d) The profit resulting from the production and sale of 8 laptops weekly is approximately $ (Round to the nearest cent as needed)A company in a purely competitive market has a short run total cost function given by TC = 50 + 4Q + 1.5 Q2. The unit price of the company’s product is Br. 13. A economist working on the efficiency of the company suggested that it has better shut down the business. Do you agree? Explain.
- Assume a competitive firm faces a market price of $120, and a cost curve of: C = 0.004q - + 25g + 750. Marginal cost (MC) equals MC =. (Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E.g., a superscript can be created with the ^ character.) Ass O stv 13 MacBook Air 80 DII esc F9 F3 F4 F5 F6 F7 F1 @ 23 $ % & 1 2 3 7 Q W E R Y tab S F K caps lock C V M shift fn control option command この つ つ エ T リSuppose the cost function for a firm is given by C(Q) = 100 + Qº. If the firm sells output in a perfectly competitive market and other firms in the industry sell output at a price of $10, what level of output should the firm produce to maximize profits or minimize losses? What will be the level of profits or losses if the firm makes the optimal decision?Assume a competitive firm faces a market price of $100, a cost curve of: C= 1.00g + 25g + 1,600 and a marginal cost curve of: MC = 2.00g + 25. The firm's profit maximizing output level is 37.50 units, the profit per unit is $-5.17, and total profit is: $-193.88. However, if the firm wanted to maximize the profit per unit, how much would it produce? It would produceunits. (round your answer to two decimal places) If the firm produced this output level, what woulid be the profit? Its profit would be $. (round your answer to the nearest penny)
- Suppose the cost function for a firm is given by C(Q) = 100 + Q2. If the firm sells output in a perfectly competitive market and other firms in the industry sell output at a price of $10, what level of output should the firm produce to maximize profits or minimize losses? What will be the level of profits or losses if the firm makes the optimal decision?Yann's bakery operates in a perfectily competitive market where the prevailing price for a baguette (his only product) is $3. If Yann's marginal cost function is given by MC 0. 19 () Yann's profit-maximizing level of output is 0 (1) Yann's variable profit is 0 (H) The producer surplus is 0 If Yann also has a fixed cost of $50, then: (Iv) his total profit is Assuming Yann cannot avoid the fixed cost, Yann should 0Suppose the cost function for a firm is given by C(Q) = 100 + Q2. If the firm sells output in a perfectly competitive market and other firms in the industry sell output at a price of $10,A) What level of output should the firm produce to maximize profits or minimize losses?B) What are the profits at the optimal output amount? C) Should the company produce this optimal amount or should it shut down?