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If Firm A opertes in a perfectly competitive industry, with market price = $1,200/unit. If Firm...
13. If Firm A operates in a perfectly competitive industry, with market price = $1,200/unit. If...
13. If Firm A operates in a perfectly competitive industry, with market price = $1,200/unit. If Firm A’s total cost function is given by TC(q)= 20q^2+ 80q + 200, find Firm A’s profit maximizing level of output. 14. Using the information from the above question: is the market in which Firm A is selling its output currently in long run equilibrium?
15. Use the following figure for a firm in a perfectly competitive market. a What is the output that maximizes...
15. Use the following figure for a firm in a perfectly competitive market. a What is the output that maximizes the firm's profit? b. At the profit-maximizing output, calculate total revenue and total cost. C. If the firm maximizes profit, how much profit does it earn? d. What will likely happen to market demand or market supply in the long run? e. What will likely happen to the market price in the long run? Price (s) d = P =...
Firm Z, operating in a perfectly competitive market, can sell as much or as little as...
Firm Z, operating in a perfectly competitive market, can sell as much or as little as it wants of a good at a price of $16 per unit. Its cost function is Ce50+ o a) Determine the firm's profit-maximizing level of output. Compute its proft. b) The industry demand curve is Q-200-5P. What is the total market demand at the current $16 price? If all firms in the industry have cost structures identical to that of firm Z, how many...
2. Profit maximization. Suppose that each perfectly competitive firmi in an industry has the short-run cost...
2. Profit maximization. Suppose that each perfectly competitive firmi in an industry has the short-run cost function TC 20 +4q+, and the market price is S20. What is the profit-maximizing output level for each firm? What is the total revenue? What are the profits?
1. Suppose that a firm operating in perfectly competitive industry has short-run cost function given by...
1. Suppose that a firm operating in perfectly competitive industry has short-run cost function given by C(q) = 5+2q+9. The market price is $10. (a) What is the profit-maximizing output level for this firm? (b) What is the firm's total revenue and profits at the profit-maximizing output? (c) What is the minimum price at which the firm will produce a positive level of output in the short run?
2. A firm operates in a perfectly competitive industry. Suppose it has a short run total...
2. A firm operates in a perfectly competitive industry. Suppose it has a short run total cost function given by TC= 10000 +0.04q?. If the market price is 56, the firm's profit-maximizing quantity is?
A firm operates in a perfectly competitive industry. Suppose it has a short run total cost...
A firm operates in a perfectly competitive industry. Suppose it has a short run total cost function given by TC = 1200 + 2Q + 0.03Q2. If the market price is $38, what is the firm’s profit maximizing quantity?
a firm in perfectly competitive market sells all its products Q at constant price p (1)A...
a firm in perfectly competitive market sells all its products
Q at constant price p
(1)A firm in a perfectly competitive market sells all its product (Q) at a constant price (P) of $60. Suppose the total cost function (TC) for this firm is described by the following equation: 2 3 TC(Q) = 128 +690 - 140 + Q (a)Form the profit function and determine the output that maximizes the firm's profit. Evaluate the second order condition to assure that...
1. Assume the market for tortillas is perfectly competitive. The market supply and demand curves for...
1. Assume the market for tortillas is perfectly competitive. The market supply and demand curves for tortillas are given as follows: Supply curve: P = 0.20 Demand curve: P = 1100 – 20 The short-run total cost curve for a typical tortilla factory, ABC, is: TC = 500 + 10 + 4.522 a) Determine the market equilibrium price and quantity. b) Determine the profit-maximizing level of output for factory ABC. c) Assuming that all of the factories are identical, how...
the firm faces a constant price (P) of $60 A firm in a perfectly competitive market...
the
firm faces a constant price (P) of $60
A firm in a perfectly competitive market sells all its product (Q) at a constant price (P) of $60. Suppose the total cost function (TC) for this firm is described by the following equation: 2 3 TC(Q) = 128 + 69Q - 140 + Q (a)Form the profit function and determine the output that maximizes the firm's profit. Evaluate the second order condition to assure that profit is maximized at this...
15. Use the following figure for a firm in a perfectly competitive market. a What is the output that maximizes the firm's profit? b. At the profit-maximizing output, calculate total revenue and total cost. C. If the firm maximizes profit, how much profit does it earn? d. What will likely happen to market demand or market supply in the long run? e. What will likely happen to the market price in the long run? Price (s) d = P =...
Firm Z, operating in a perfectly competitive market, can sell as much or as little as it wants of a good at a price of $16 per unit. Its cost function is Ce50+ o a) Determine the firm's profit-maximizing level of output. Compute its proft. b) The industry demand curve is Q-200-5P. What is the total market demand at the current $16 price? If all firms in the industry have cost structures identical to that of firm Z, how many...
2. Profit maximization. Suppose that each perfectly competitive firmi in an industry has the short-run cost function TC 20 +4q+, and the market price is S20. What is the profit-maximizing output level for each firm? What is the total revenue? What are the profits?
1. Suppose that a firm operating in perfectly competitive industry has short-run cost function given by C(q) = 5+2q+9. The market price is $10. (a) What is the profit-maximizing output level for this firm? (b) What is the firm's total revenue and profits at the profit-maximizing output? (c) What is the minimum price at which the firm will produce a positive level of output in the short run?
2. A firm operates in a perfectly competitive industry. Suppose it has a short run total cost function given by TC= 10000 +0.04q?. If the market price is 56, the firm's profit-maximizing quantity is?
a firm in perfectly competitive market sells all its products
Q at constant price p
(1)A firm in a perfectly competitive market sells all its product (Q) at a constant price (P) of $60. Suppose the total cost function (TC) for this firm is described by the following equation: 2 3 TC(Q) = 128 +690 - 140 + Q (a)Form the profit function and determine the output that maximizes the firm's profit. Evaluate the second order condition to assure that...
1. Assume the market for tortillas is perfectly competitive. The market supply and demand curves for tortillas are given as follows: Supply curve: P = 0.20 Demand curve: P = 1100 – 20 The short-run total cost curve for a typical tortilla factory, ABC, is: TC = 500 + 10 + 4.522 a) Determine the market equilibrium price and quantity. b) Determine the profit-maximizing level of output for factory ABC. c) Assuming that all of the factories are identical, how...
the
firm faces a constant price (P) of $60
A firm in a perfectly competitive market sells all its product (Q) at a constant price (P) of $60. Suppose the total cost function (TC) for this firm is described by the following equation: 2 3 TC(Q) = 128 + 69Q - 140 + Q (a)Form the profit function and determine the output that maximizes the firm's profit. Evaluate the second order condition to assure that profit is maximized at this...
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