Suppose that the market for black sweaters is a competitive market. The following graph shows the daily cost curves of a firm operating in this market.
Suppose that the market for black sweaters is a competitive market. The following graph shows the daily cost curves of a firm operating in this market.
Hint: After placing the rectangle on the graph, you can select an endpoint to see the coordinates of that point.
In the short run, at a market price of $15 per sweater, this firm will choose to produce _______
sweaters per day.
On the preceding graph, use the blue rectangle (circle symbols) to shade the area representing the firm's profit or loss if the market price is $15 and the firm chooses to produce the quantity you already selected.
Note: In the following question, enter a positive number, even if it represents a loss
The area of this rectangle indicates that the firm's _______ would be $_______ thousand per day in the short run.
Homework Answers
8000 sweaters
The area of this rectangle indicates that the firm's loss would be $12000 ((30-15)*8000) per day in the short run
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Suppose that the market for black sweaters is a competitive market. The following graph shows the daily cost curves of a firm operating in this market.
Suppose that the market for cashmere sweaters is a competitive market. The following graph shows the daily cost curves of a firm operating in this market.
Suppose that the market for cashmere sweaters is a competitive market. The following graph shows the daily cost curves of a firm operating in this market. Hint: After placing the rectangle on the graph, you can select an endpoint to see the coordinates of that point. In the short run, at a market price of $45 per sweater, this firm will choose to produce _______ sweaters per day. On the preceding graph, use the blue rectangle (circle symbols) to shade the area representing...
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4. Profit maximization in the cost-curve diagram Suppose that the market for cashmere sweaters is a competitive market. The following graph shows the daily cost curves of a firm operating in this market. Hint: After placing the rectangle on the graph, you can select an endpoint to see the coordinates of that point.In the short run, at a market price of $45 per sweater, this firm will choose to produce _______ sweaters per day. On the preceding graph, use the blue rectangle (circle...
Suppose that the market for dress shirts is a competitive market. The following graph shows the...
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4. Profit maximization in the cost-curve diagramSuppose that the market for black sweaters is a competitive...
4. Profit maximization in the cost-curve diagramSuppose that the market for black sweaters is a competitive market. The following graph shows the daily cost curves of a firm operating in this market. In the short run, at a market price of $15 per sweater, this firm will choose to produce ________ sweaters per day. On the previous graph, use the blue rectangle (circle symbols) to shade the area representing the firm's profit or loss if the market price is $15 and the...
4. Short-run profit maximization or loss minimization for a perfectly competitive firm Suppose that the market...
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4. Profit maximization in the cost-curve diagram Suppose that the market for polo shirts is a competitive market. The following graph shows the daily cost curves of a firm operating in this market. Hint: After placing the rectangle on the graph, you can select an endpoint to see the coordinates of that point. In the short run, at a market price of $15 per shirt, this firm will choose to produce _______ shirts per day. On the preceding graph, use the blue rectangle (circle...
The following graph shows the daily cost curves of a firm operating in a perfectly competitive...
The following graph shows the daily cost curves of a firm operating in a perfectly competitive market. Suppose the market price for the good is $80 per unit Use the blue rectangle (circle symbols) to shade the area representing the firm's profit or loss at the market price of $80 per unit if the firm chooses to produce the profit-maximizing quantity of output Profit or Loss PRICE AND COST (Dollars) QUANTITY (Thousands of units) At the market price of $80...
Suppose that the market for black sweaters is a competitive market. The following graph shows the daily cost curves of a firm operating in this market.
5. Profit maximization and shutting down in the short
runSuppose that the market for black sweaters is a competitive
market. The following graph shows the daily cost curves of a firm
operating in this market.For each price in the following table, calculate the firm's
optimal quantity of units to produce, and determine the profit or
loss if it produces at that quantity, using the data from the
previous graph to identify its total variable cost. Assume that if
the firm...
for market Hint: After placing the rectangle on the graph, you can select an endpoint to...
for market Hint: After placing the rectangle on the graph, you can select an endpoint to see the coordinates of that point Profit or Loss u 40 AVC 0 5 015 20 25 30 35 40 45 50 QUANTITY (Thousands of ovens per day) In the short run, at a market price of $50 per oven, this firm will choose to produce Y ovens per day. On the preceding graph, use the blue rectangle (circle symbols) to shade the area...
Suppose that the market for dress shirts is a competitive market. The following graph shows the daily cost curves of a firm operating in this market. Hint: After placing the rectangle on the graph, you can select an endpoint to see the coordinates of that point. 50 45 Profit or Loss 40 35 30 25 20 AVC 10 0 46 810 2 4 16 1820 QUANTITY (Thousands of shirts per day) On the preceding graph, use the blue rectangle (circle...
4. Short-run profit maximization or loss minimization for a perfectly competitive firm Suppose that the market for cashmere sweaters is a perfectly competitive market. The following graph shows the daily cost curves of a firm operating in this market. Profit or Loss PRICE AND COST (Dollars per sweater) 0 10 90 100 20 30 40 50 60 70 80 QUANTITY OF OUTPUT (Sweaters) In the short run, at a market price of $80 per sweater, this firm will choose to...
The following graph shows the daily cost curves of a firm operating in a perfectly competitive market. Suppose the market price for the good is $80 per unit Use the blue rectangle (circle symbols) to shade the area representing the firm's profit or loss at the market price of $80 per unit if the firm chooses to produce the profit-maximizing quantity of output Profit or Loss PRICE AND COST (Dollars) QUANTITY (Thousands of units) At the market price of $80...
5. Profit maximization and shutting down in the short
runSuppose that the market for black sweaters is a competitive
market. The following graph shows the daily cost curves of a firm
operating in this market.For each price in the following table, calculate the firm's
optimal quantity of units to produce, and determine the profit or
loss if it produces at that quantity, using the data from the
previous graph to identify its total variable cost. Assume that if
the firm...
for market Hint: After placing the rectangle on the graph, you can select an endpoint to see the coordinates of that point Profit or Loss u 40 AVC 0 5 015 20 25 30 35 40 45 50 QUANTITY (Thousands of ovens per day) In the short run, at a market price of $50 per oven, this firm will choose to produce Y ovens per day. On the preceding graph, use the blue rectangle (circle symbols) to shade the area...
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> Everything is right until the firm's loss value. Missed a zero. The area of this rectangle indicates that the firm's loss would be $120,000 per day in the short run
crispy Thu, Apr 29, 2021 9:02 PM