Homework Answers
Answer
the firm produces at MR=MC
where
Q=8 units
P=350
ATC=250
Economic profit=(P-ATC)*Q
=(350-250)*8
=$800
=area DABC
Option 4
350 300 250 200 150 100 50 0 50 100 150 200 250 300 350 400...
350 300 250 200 150 100 50 0 50 100 150 200 250 300 350 400 450 500 Actual Aggregate Expenditure (Y, billions of $) Instructions: Enter whole numbers into each box a. What is the Keynesian equilibrium output in this economy? billion b. At an output level of $200 billion, planned aggregate expenditure is equal to $ ( (Click to select) output in the upcoming year billion and the economy is likely to c. At an output level of...
Profit Maximization and Long Run Equilibrium 0 MC ATC AVC 150 200 250 300 350 400 450 500 $9.00 $9.60 $10.50 $11.4...
Profit Maximization and Long Run Equilibrium 0 MC ATC AVC 150 200 250 300 350 400 450 500 $9.00 $9.60 $10.50 $11.48 $12.60 $15.00 $18.60 $19.05 $23.20 $19.20 $16.50 $15.65 $15.09 $15.00 $15.33 $16.50 $13.20 $11.70 $10.50 $10.65 $10.80 $11.25 $12.00 $13.50 The above table is the information for a firm that produces Iphone cases. Q The table below is the market demand for Iphone cases in the market. P $6.00 500,000 $7.40 475,000 $8.20 450,000 $9.00 425,000 $9.60 400,000...
The market for airplane tickets $400 350 300 250 200 150 100 OL 0 25 50...
The market for airplane tickets $400 350 300 250 200 150 100 OL 0 25 50 75 100 125 (a) (2 pts) Find marginal buyers WTP at Q = 25. In the market without tax, compute his or her CS? (b) (4 pts) Compute CS, PS, and total surplus without a tax. (c) (4 pts) If $100 tax per ticket, compute CS, PS, tax revenue, total surplus, and DWL. (d) (4 pts) For the market without tax and the market...
QUESTION 8 $500 450 E 400 350 250 2 200 쵸 E 150 C 100 U...
QUESTION 8 $500 450 E 400 350 250 2 200 쵸 E 150 C 100 U 50 45° $50 100 150 200 250 300 350 400 450 500 550 Real Domestic Output ($B) Refer to the graph for a private closed economy. At the equilibrium level of GDP, saving will be O $100 billion. $50 billion. O $150 billion. an amount that cannot be determined from the information given
QUESTION 6 Figure 10-20. 450- Social Cost 400 Supply Private Costs) 250- 200- 150 100 Demand...
QUESTION 6 Figure 10-20. 450- Social Cost 400 Supply Private Costs) 250- 200- 150 100 Demand 50 100 150 200 250 300 350 400 460 500 Quantty k Save All Answers to save all answers Demand 100 50 50 100 150 200 250 300 350 400 450 500 Quantity Refer to Figure 10-20. Without government intervention O a there is no clear relationship between the equilibrium quantity and socially optimal quantity O b the equilibrium quantity equals the socially optimal...
Question 49 1 pts Dollars per unit MC $40 36 ATC 32 28 24 20 16...
Question 49 1 pts Dollars per unit MC $40 36 ATC 32 28 24 20 16 D MR = AR ン/AVC 12 4 100 150 200 250 Quantity This diagram most likely represents what market structure? could represent all excent a perfect.competition AA itEN i 28 D MR = A 24 AVC 20 16 12 150 100 200 250 Quantity This diagram most likely represents what market structure? could represent all except a. perfect competition oligopoly monopolistic competition perfect competition...
Homework (Ch 16) 300 Profit or Loss Lu 200 150 ATC MR Deman 050 100 150...
Homework (Ch 16) 300 Profit or Loss Lu 200 150 ATC MR Deman 050 100 150 200 250300 350 400 450 500 QUANTITY (Bikes) Given the profit-maximizing choice of output and price, the shop is making pr shops in the industry relative to the long-run equilibrium. Now consider the long run in which bike manufacturers are free to enter and exit the market.
Question 8 (Mandatory) (5 points) MC ATC AVC 13 MR Price 00 6 4 0 10...
Question 8 (Mandatory) (5 points) MC ATC AVC 13 MR Price 00 6 4 0 10 15 28 31 20 Quantity Reference: Ref 24-3 In the figure above, to maximize profits or minimize losses the firm should produce units. OA) 15 B) 20 C) 28 OD 10 Question 11 (Mandatory) (5 points) MC ATC AVC 13- MR Price 9 8 A 0 4 10 15 28 20 Quantity Reference: Ref 24-3 In the figure above, the firm A) could make...
Arturo's Production Possibilities Frontier Dina's Production Possibilities Frontier 500 450 350 350 300 250 300 150...
Arturo's Production Possibilities Frontier Dina's Production Possibilities Frontier 500 450 350 350 300 250 300 150 100 50 150 50 100 150 200 250 300 350 400 aces 50 100 150 200 250 300 350 400es Refer to Figure 3-14. Arturo would incur an opportunity cost of 36 burritos if he in O a. 27. O b. 48. O d. 144 A-Z
Worksheet 7 1. Use the figure below to answer the following questions. P, MR, MC, ATC...
Worksheet 7 1. Use the figure below to answer the following questions. P, MR, MC, ATC $50 ATC MR 100 150 200 250 300 400 Quantity of output (per week) a. What quantity would they sell? What would be the price? b. What will be the profit of this monopoly? c. What will be the consumer surplus in this unregulated monopoly? d. Is this a natural monopoly? Why or why not? e. Suppose this firm was able to practice perfect...
350 300 250 200 150 100 50 0 50 100 150 200 250 300 350 400 450 500 Actual Aggregate Expenditure (Y, billions of $) Instructions: Enter whole numbers into each box a. What is the Keynesian equilibrium output in this economy? billion b. At an output level of $200 billion, planned aggregate expenditure is equal to $ ( (Click to select) output in the upcoming year billion and the economy is likely to c. At an output level of...
Profit Maximization and Long Run Equilibrium 0 MC ATC AVC 150 200 250 300 350 400 450 500 $9.00 $9.60 $10.50 $11.48 $12.60 $15.00 $18.60 $19.05 $23.20 $19.20 $16.50 $15.65 $15.09 $15.00 $15.33 $16.50 $13.20 $11.70 $10.50 $10.65 $10.80 $11.25 $12.00 $13.50 The above table is the information for a firm that produces Iphone cases. Q The table below is the market demand for Iphone cases in the market. P $6.00 500,000 $7.40 475,000 $8.20 450,000 $9.00 425,000 $9.60 400,000...
The market for airplane tickets $400 350 300 250 200 150 100 OL 0 25 50 75 100 125 (a) (2 pts) Find marginal buyers WTP at Q = 25. In the market without tax, compute his or her CS? (b) (4 pts) Compute CS, PS, and total surplus without a tax. (c) (4 pts) If $100 tax per ticket, compute CS, PS, tax revenue, total surplus, and DWL. (d) (4 pts) For the market without tax and the market...
QUESTION 8 $500 450 E 400 350 250 2 200 쵸 E 150 C 100 U 50 45° $50 100 150 200 250 300 350 400 450 500 550 Real Domestic Output ($B) Refer to the graph for a private closed economy. At the equilibrium level of GDP, saving will be O $100 billion. $50 billion. O $150 billion. an amount that cannot be determined from the information given
QUESTION 6 Figure 10-20. 450- Social Cost 400 Supply Private Costs) 250- 200- 150 100 Demand 50 100 150 200 250 300 350 400 460 500 Quantty k Save All Answers to save all answers Demand 100 50 50 100 150 200 250 300 350 400 450 500 Quantity Refer to Figure 10-20. Without government intervention O a there is no clear relationship between the equilibrium quantity and socially optimal quantity O b the equilibrium quantity equals the socially optimal...
Question 49 1 pts Dollars per unit MC $40 36 ATC 32 28 24 20 16 D MR = AR ン/AVC 12 4 100 150 200 250 Quantity This diagram most likely represents what market structure? could represent all excent a perfect.competition AA itEN i 28 D MR = A 24 AVC 20 16 12 150 100 200 250 Quantity This diagram most likely represents what market structure? could represent all except a. perfect competition oligopoly monopolistic competition perfect competition...
Homework (Ch 16) 300 Profit or Loss Lu 200 150 ATC MR Deman 050 100 150 200 250300 350 400 450 500 QUANTITY (Bikes) Given the profit-maximizing choice of output and price, the shop is making pr shops in the industry relative to the long-run equilibrium. Now consider the long run in which bike manufacturers are free to enter and exit the market.
Question 8 (Mandatory) (5 points) MC ATC AVC 13 MR Price 00 6 4 0 10 15 28 31 20 Quantity Reference: Ref 24-3 In the figure above, to maximize profits or minimize losses the firm should produce units. OA) 15 B) 20 C) 28 OD 10 Question 11 (Mandatory) (5 points) MC ATC AVC 13- MR Price 9 8 A 0 4 10 15 28 20 Quantity Reference: Ref 24-3 In the figure above, the firm A) could make...
Arturo's Production Possibilities Frontier Dina's Production Possibilities Frontier 500 450 350 350 300 250 300 150 100 50 150 50 100 150 200 250 300 350 400 aces 50 100 150 200 250 300 350 400es Refer to Figure 3-14. Arturo would incur an opportunity cost of 36 burritos if he in O a. 27. O b. 48. O d. 144 A-Z
Worksheet 7 1. Use the figure below to answer the following questions. P, MR, MC, ATC $50 ATC MR 100 150 200 250 300 400 Quantity of output (per week) a. What quantity would they sell? What would be the price? b. What will be the profit of this monopoly? c. What will be the consumer surplus in this unregulated monopoly? d. Is this a natural monopoly? Why or why not? e. Suppose this firm was able to practice perfect...
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