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Asume a competitive fe feces a market price of 570, and a contoure of C0.0052.50000 your...
Assume a compettve fm faces a market price of $70, and a cost ourve of C-0003...
Assume a compettve fm faces a market price of $70, and a cost ourve of C-0003 50g 1000 (Enter your reaponse rounded to fwo decimal places-holude the minus sign The firm's proft maximizing output level is 47.17 units (onter your response rounded to two decimal places), and the per unit proft at this output level is necessary)
Assume a competitive firm faces a market price of $70, and a cost curve of: C...
Assume a competitive firm faces a market price of $70, and a cost curve of: C -0.0034 +509 + 1000 The firm's profit maximizing output level is units (enter your response rounded to two decimal places),
Assume a competitive firm faces a market price of $70, and a cost curve of: C...
Assume a competitive firm faces a market price of $70, and a cost curve of: C = 0.004q^3+ 050q + 750. The firm's profit maximizing output level is ____units (enter your response rounded to two decimal places),
4. In a market for dry cleaning, the inverse market demand function is given by P=160-10...
4. In a market for dry cleaning, the inverse market demand function is given by P=160-10 and the (private) marginal cost of production for the aggregation of all dry dleaning firms is given by MC- 10+1Q. Finally, the pollution generated by the dry cleaning process creates external damages given by the marginal external cost curve MEC 1Q Calculate the output and price of dry cleaning if it is produced under competitive cond tions without regulation. The competitive equilbrium quanity is...
Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q)...
Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q) = 3 + 2q. Assume that the market price (P) of the firm's product is $15. What level of output (q) will the firm produce? The firm will produce units of output. (Enter your response rounded to two decimal places.) What is the firm's producer surplus? Producer surplus (PS) is $ . (Enter your response rounded to two decimal places.) Suppose that the average...
Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q)...
Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q) = 6 +29. Assume that the market price (P) of the firm's product is $18. What level of output (q) will the firm produce? The firm will produce 6.00 units of output. (Enter your response rounded to two decimal places.) What is the firm's producer surplus? Producer surplus (PS) is $ 36.00. (Enter your response rounded to two decimal places.) Suppose that the average...
Consider the following cost curve for a firm in a competitive industry where the market price...
Consider the following cost curve for a firm in a competitive industry where the market price equals $200 C = 1/3q3+4q+750 What is the firm's marginal cost (MC)? MC = At what level of output does the firm maximize profits (minimize losses)? Profit is maximized at __units of output. (Round your answer to two decimal places.) What is the firm's profit maximizing price? The profit-maximizing price is $___ In the short-run, this firm should produce ____ .
Suppose that a perfectly competitive firm faces a market price of $ 12 12 per unit,...
Suppose that a perfectly competitive firm faces a market price of $ 12 12 per unit, and at this price the upward-sloping portion of the firm's marginal cost curve crosses its marginal revenue curve at an output level of 1 comma 800 1,800 units. If the firm produces 1 comma 800 1,800 units, its average variable costs equal $ 7.00 7.00 per unit, and its average fixed costs equal $ 1.00 1.00 per unit. What is the firm's profit-maximizing (or...
Consider the inverse demand curve: p 80 2Q. Assume the market price is $10.00. Calculate consumer...
Consider the inverse demand curve: p 80 2Q. Assume the market price is $10.00. Calculate consumer surplus at the equilibrium market price and quantity. Consumer surplus (CS) is (Enter your response rounded to two decimal places.)
DJP c) P3 d) P4 Scenario 1: Perfect Competition. Consider a perfectly competitive market with 1,000...
DJP c) P3 d) P4 Scenario 1: Perfect Competition. Consider a perfectly competitive market with 1,000 firms, where all firms have identical costs. The market price is currently set at $20 per unit, and a total of 100,000 units are sold. Suppose that each firm initially faces plant costs of $1,000 (fixed cost) and labor costs of $15 per unit of output. Assume these are the firm's only costs. the shore in the shon e ach the short teach in...
Assume a compettve fm faces a market price of $70, and a cost ourve of C-0003 50g 1000 (Enter your reaponse rounded to fwo decimal places-holude the minus sign The firm's proft maximizing output level is 47.17 units (onter your response rounded to two decimal places), and the per unit proft at this output level is necessary)
Assume a competitive firm faces a market price of $70, and a cost curve of: C -0.0034 +509 + 1000 The firm's profit maximizing output level is units (enter your response rounded to two decimal places),
4. In a market for dry cleaning, the inverse market demand function is given by P=160-10 and the (private) marginal cost of production for the aggregation of all dry dleaning firms is given by MC- 10+1Q. Finally, the pollution generated by the dry cleaning process creates external damages given by the marginal external cost curve MEC 1Q Calculate the output and price of dry cleaning if it is produced under competitive cond tions without regulation. The competitive equilbrium quanity is...
Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q) = 3 + 2q. Assume that the market price (P) of the firm's product is $15. What level of output (q) will the firm produce? The firm will produce units of output. (Enter your response rounded to two decimal places.) What is the firm's producer surplus? Producer surplus (PS) is $ . (Enter your response rounded to two decimal places.) Suppose that the average...
Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q) = 6 +29. Assume that the market price (P) of the firm's product is $18. What level of output (q) will the firm produce? The firm will produce 6.00 units of output. (Enter your response rounded to two decimal places.) What is the firm's producer surplus? Producer surplus (PS) is $ 36.00. (Enter your response rounded to two decimal places.) Suppose that the average...
Consider the inverse demand curve: p 80 2Q. Assume the market price is $10.00. Calculate consumer surplus at the equilibrium market price and quantity. Consumer surplus (CS) is (Enter your response rounded to two decimal places.)
DJP c) P3 d) P4 Scenario 1: Perfect Competition. Consider a perfectly competitive market with 1,000 firms, where all firms have identical costs. The market price is currently set at $20 per unit, and a total of 100,000 units are sold. Suppose that each firm initially faces plant costs of $1,000 (fixed cost) and labor costs of $15 per unit of output. Assume these are the firm's only costs. the shore in the shon e ach the short teach in...
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