Homework Answers
Here, firm is earning negative economic profit. So, it is an economic loss. Therefore it is negative.
Add Answer to:
1. The S.S.K Allen Fabric Company sells cotton fabric in a perfectly competitive market at a...
please i want it typed please Styles 14. The Vague Fabric Company sells cotton fabric in...
please i want it typed please
Styles 14. The Vague Fabric Company sells cotton fabric in a perfectly competitive market at a price of $4 per yard. Its marginal cost, average variable cost, and average total cost curves can be seen below. price MC ATC d=MR AVC Find the profit-maximizing level of output and mark it q* Shade in the area of profit earned by the firm. Is it positive or negative? How do you know? 15. The Binkle Binder...
Question 3 Tabassum and Shashwat operate a small firm in a perfectly competitive market, the diagram...
Question 3 Tabassum and Shashwat operate a small firm in a perfectly competitive market, the diagram illustrates its MC, ATC, AVC and its MR curves. ATC 16.00 MR a. What is their current average revenue per unit? [1 mark] 12.25 12.00 F 10.00 ---- Price and Cost ($ per unit) 0.00 6.00 b. What is their profit maximizing level of output and profit? (2 marks] 10 11 12 13 Output Per hour c. If the market clearing price drops to...
Sonya and Leah operate a small firm in a perfectly competitive market, the diagram illustrates its...
Sonya and Leah operate a small firm in a perfectly competitive
market, the diagram illustrates its MC, ATC, AVC and MR
curves.
1. What is their current average revenue per unit?
2. What is their profit maximizing level of output and
profit?
3. If the market clearing price drops to $10.00 per unit,
should they continue to produce in the short run if they wish to
maximize their economic profits (or minimize its economic losses)?
Explain.
4. What is their...
Demand and Cost Functions For the perfectly competitive firm, a price taker such that MR-P-Ave.Rev (AR)...
Demand and Cost Functions For the perfectly competitive firm, a price taker such that MR-P-Ave.Rev (AR) 70 What is the profit maximizing quantity? 1) 65 60 27 What is the price? 55 3) What is average total cost at the profit maximizing quantity? 50 45 4 What, then, is per unit profit at the profit maximizing quantity? 40 МС What is total revenue at the profit maximizing quantity? 5) 35 ATC AVC What is total cost at the profit maximizing...
show all steps and formulas VC A product in a perfectly competitive market is $6. Assume...
show all steps and formulas
VC A product in a perfectly competitive market is $6. Assume the firm is subject to the following outputs and cost MR= TC MC= ATC Profit/Loss ATR/AQ ATR/AQ 200 250 12.5 -130 399 500 600 700 850 158 1000 191 1200 16 219 1700 7.76 II. Complete the table Plot the demand, MR, ATC and MC curves on a graph. Identify the profit maximizing output and price. Is this firm maximizing profits? Explain Can this...
1) The farmer sells apples in a perfectly competitive market at a price of $1/pound. The...
1) The farmer sells apples in a perfectly competitive market at a price of $1/pound. The farmer's marginal cost, average total cost, and average variable cost curve can be represented by the following MC price ATC AVC d-MR Should the farmer continue to operate in the short run? A) No B) Can't be determined using the information provided C) Yes
1) A perfectly competitive firm faces the following Total revenue, Total cost and Marginal cost functions:...
1) A perfectly competitive firm faces the following Total revenue, Total cost and Marginal cost functions: TR = 10Q TC = 2 + 2Q + Q2 MC = 2 + 2Q At the level of output maximizing profit , the above firm's level of economic profit is A) $0 B) $4 C) $6 D) $8 *Additional information after I did the math: The price this firm charges for its product is $10, the level of output maximizing profit is 4...
Consider a competitive rm with total costs given by TC(q) = 100 + 10q + q^2,...
Consider a competitive rm with total costs given by TC(q) = 100 + 10q + q^2, The firm faces a market price p = 50. (a) Write expressions for total revenue TR and marginal revenue MR as functions of output q. (b) Write expressions for average total cost ATC, average variable cost AVC, and marginal cost MC as functions of output q. (c) For what value of output is ATC minimized? (d) Find the profit maximizing level of output q...
Consider a competitive firm with total costs given by TC(q) = 100 + 10q + q...
Consider a competitive firm with total costs given by TC(q) = 100 + 10q + q 2 The firm faces a market price p = 50. (d) Find the profit-maximizing level of output q^*. At this level of output, what are TR, TC, ATC, and π? (e) Graph the ATC, AVC, MC, and MR curves in a single graph, and indicate the profit-maximizing level of output. If there are profits, shade the region corresponding to profit and label it.
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...
please i want it typed please
Styles 14. The Vague Fabric Company sells cotton fabric in a perfectly competitive market at a price of $4 per yard. Its marginal cost, average variable cost, and average total cost curves can be seen below. price MC ATC d=MR AVC Find the profit-maximizing level of output and mark it q* Shade in the area of profit earned by the firm. Is it positive or negative? How do you know? 15. The Binkle Binder...
Question 3 Tabassum and Shashwat operate a small firm in a perfectly competitive market, the diagram illustrates its MC, ATC, AVC and its MR curves. ATC 16.00 MR a. What is their current average revenue per unit? [1 mark] 12.25 12.00 F 10.00 ---- Price and Cost ($ per unit) 0.00 6.00 b. What is their profit maximizing level of output and profit? (2 marks] 10 11 12 13 Output Per hour c. If the market clearing price drops to...
Sonya and Leah operate a small firm in a perfectly competitive
market, the diagram illustrates its MC, ATC, AVC and MR
curves.
1. What is their current average revenue per unit?
2. What is their profit maximizing level of output and
profit?
3. If the market clearing price drops to $10.00 per unit,
should they continue to produce in the short run if they wish to
maximize their economic profits (or minimize its economic losses)?
Explain.
4. What is their...
Demand and Cost Functions For the perfectly competitive firm, a price taker such that MR-P-Ave.Rev (AR) 70 What is the profit maximizing quantity? 1) 65 60 27 What is the price? 55 3) What is average total cost at the profit maximizing quantity? 50 45 4 What, then, is per unit profit at the profit maximizing quantity? 40 МС What is total revenue at the profit maximizing quantity? 5) 35 ATC AVC What is total cost at the profit maximizing...
show all steps and formulas
VC A product in a perfectly competitive market is $6. Assume the firm is subject to the following outputs and cost MR= TC MC= ATC Profit/Loss ATR/AQ ATR/AQ 200 250 12.5 -130 399 500 600 700 850 158 1000 191 1200 16 219 1700 7.76 II. Complete the table Plot the demand, MR, ATC and MC curves on a graph. Identify the profit maximizing output and price. Is this firm maximizing profits? Explain Can this...
1) The farmer sells apples in a perfectly competitive market at a price of $1/pound. The farmer's marginal cost, average total cost, and average variable cost curve can be represented by the following MC price ATC AVC d-MR Should the farmer continue to operate in the short run? A) No B) Can't be determined using the information provided C) Yes
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...
Most questions answered within 3 hours.
-
Explain in detail
Germany is the fifth largest economy
explain what goods and services Germany specializes...
asked 2 minutes ago -
The density of platinum is 21.45 g/mL. If a cube of platinum
with a mass of...
asked 7 minutes ago -
Accounts Receivable
Sales
A/R Posting
Extended Sales Invoice
Packing Slip
Compare invoice to packing slip 2...
asked 10 minutes ago -
Michaella, age 23, is a full-time law student and is claimed by
her parents as a...
asked 11 minutes ago -
Why are polymers not typically casted into products?
asked 28 minutes ago -
When rolling a die 129 times, what is the probability of rolling
a 6 no more...
asked 44 minutes ago -
4. A call option currently sells for $7.75. It has a strike
price of $85 and...
asked 33 minutes ago -
1.
You need to prepare 10.0 liters of an acid aqueous solution with a
pH of...
asked 36 minutes ago -
Along an aggregate supply curve, if the level of output is less
than the natural level...
asked 37 minutes ago -
By 2025, annual consumption in emerging markets will total $30
trillion and contribute more than ________...
asked 42 minutes ago -
At what point does reformation cease to be a viable option for
those who are oppressed...
asked 46 minutes ago -
Place letters corresponding to amounts in the proper order for
lightest to heaviest samples:
a) 2100...
asked 50 minutes ago