Homework Answers
Ans: b ) $15
Explanation:
Average revenue = Total Revenue / Quantity
| Quantity | Total Revenue | Average Revenue |
| 8 | $120 | $15 |
| 9 | $135 | $15 |
| 10 | $150 | $15 |
| 11 | $165 | $15 |
| 12 | $180 | $15 |
| 13 | $195 | $15 |
Add Answer to:
QUESTION 9 Table 14-16 The table represents the demand information for a firm in a competitive...
Table 14-9 Suppose that a firm in a competitive market faces the following revenues and costs:...
Table 14-9 Suppose that a firm in a competitive market faces the following revenues and costs: Quantity 0 Total Revenue $0 $8 $16 21 3 Total Cost $5 $9 $14 $20 $27 $35 $44 $32 5 $48 7 $56 8 $64 9 $72 Refer to Table 14-9. At which quantity of output is marginal revenue equal to marginal cost? A. 9 units $72 B. 7 units C. 3 units s units
Total Costs Refer to the above table. The table represents information on the costs for Ajax...
Total Costs Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $10. What does total revenue equal when quantity equals 47 $40 $6 $36 Revenue and Costs (dollars) 160 IC TR 0 2 4 6 8 10 12 14 16 18 20 Quantity In the above figure, the profit-maximizing rate of production for the perfectly competitive firm is 10. 13....
Assume that the short-run cost and demand data given in thetable below confront a monopolistically...
Assume that the short-run cost and demand data given in the table below confront a monopolistically competitive firm selling a given product and engaged in a given amount of product promotion. Compute the marginal cost and marginal revenue of each unit of output and enter these figures in the table.Total Marginal Quantity MarginalOutput cost cost demanded Price revenue0 $ 75 0 $1801 120 $_____ 1 165 $_____2 135 _____ 2 150 _____3 165 _____ 3 135 _____4 210 _____ 4...
32) Refer to table below. How much output will be produced by this perfectly competitive firm?...
32) Refer to table below. How much output will be produced by this perfectly competitive firm? COSTS REVENUES Quantity Total Marginal Quantity Marginal Produced cost Cost Demanded Price Revenue Revenue $100 - 10 $120 $150 li $120 $202 12 $120 $257 $120 $317 14 $120 $385 15 $120 |$ 4656 $120 $ 562 7 $120 196828 $120 a) 0 units b) 1 unit C) 2 units d) 3 units e) 4 units f) 5 units g) 6 units h) 7...
Table 16-7 A monopolistically competitive firm faces the following demand schedule for its product. In addition,...
Table 16-7 A monopolistically competitive firm faces the following demand schedule for its product. In addition, the firm has total fixed costs equal to $10. Price $15 $13 $11 $9 $7 $5 $3 Quantity 2 4 7 Refer to Table 16-7. If the firm has a constant marginal cost of $5 per unit, which of the following would you expect to occur in the long run in this market? O New firms will enter the market and profhts for firms...
Figure 14-5 Suppose a firm operating in a competitive market has the following cost curves: Price...
Figure 14-5 Suppose a firm operating in a competitive market has the following cost curves: Price MC ATC AVC Q1 02 03 04 05 Quantity Refer to Figure 14-5. When market price is P2, a profit-maximizing firm's losses can be represented by the area a. At a market price of P2, the firm earns profits, not losses. b. At a market price of P2 the firm has losses, but the reference points in the figure don't identify the losses. C....
These three questions please Question 37 (1 point) Table 16-1 A monopolistically competitive firm faces the...
These three questions please
Question 37 (1 point) Table 16-1 A monopolistically competitive firm faces the following demand curve for its product: Price (S) 10 4 8 7 6 16 8 10 5 12 4 14 3 16 2 18 20 1 Refer to Table 16-1. The firm has total fixed costs of $20 and a constant marginal cost of $5 per unit. What will the firm do? It will produce 2 units; firms will exit the market in the...
QUESTION 1 1 points Let L represent the number of workers hired by a firm, and...
QUESTION 1 1 points Let L represent the number of workers hired by a firm, and let Q represent that firm's quantity of output. Assume two points on the firm's production function are (1.8,Q-97) and (L·9,Qo1433. Then the marginal product of h worker is a 46 units of output. b. 143 units of output c1 unit of output. d. 59 units of output. 1 points QUESTION 2 Table t Bob's Bulldozers Cost Table Quantity able Margina erage age Average otal...
31 of 50 (36 complete) This Question: 1 pt Suppose that the distribution of sales within an industry is as shown in the following table: Share of Total Market Sales 15 14 12 Firm 10 10 13 100% All ot...
31 of 50 (36 complete) This Question: 1 pt Suppose that the distribution of sales within an industry is as shown in the following table: Share of Total Market Sales 15 14 12 Firm 10 10 13 100% All others Total There are 13 "All others" in the industry in the above table, each of which has a share of sales equal to 1 percent. The value of the Herfindahl-Hirschman Index for this industry isEnter your response as a whole...
In a perfectly competitive market, the market supply curve is a. the vertical sum of all...
In a perfectly competitive market, the market supply curve is a. the vertical sum of all the individual firms' supply curves. b. always a horizontal line. c. the marginal cost curve above average total cost for a representative firm. d. the horizontal sum of all the individual firms' supply curves. Table 14-11 Suppose that a firm in a competitive market faces the following prices and costs: Price Quantity Total Cost $5 $3 $5 $8 $12 $17 $5 $23 Refer to...
Table 14-9 Suppose that a firm in a competitive market faces the following revenues and costs: Quantity 0 Total Revenue $0 $8 $16 21 3 Total Cost $5 $9 $14 $20 $27 $35 $44 $32 5 $48 7 $56 8 $64 9 $72 Refer to Table 14-9. At which quantity of output is marginal revenue equal to marginal cost? A. 9 units $72 B. 7 units C. 3 units s units
Total Costs Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $10. What does total revenue equal when quantity equals 47 $40 $6 $36 Revenue and Costs (dollars) 160 IC TR 0 2 4 6 8 10 12 14 16 18 20 Quantity In the above figure, the profit-maximizing rate of production for the perfectly competitive firm is 10. 13....
32) Refer to table below. How much output will be produced by this perfectly competitive firm? COSTS REVENUES Quantity Total Marginal Quantity Marginal Produced cost Cost Demanded Price Revenue Revenue $100 - 10 $120 $150 li $120 $202 12 $120 $257 $120 $317 14 $120 $385 15 $120 |$ 4656 $120 $ 562 7 $120 196828 $120 a) 0 units b) 1 unit C) 2 units d) 3 units e) 4 units f) 5 units g) 6 units h) 7...
Table 16-7 A monopolistically competitive firm faces the following demand schedule for its product. In addition, the firm has total fixed costs equal to $10. Price $15 $13 $11 $9 $7 $5 $3 Quantity 2 4 7 Refer to Table 16-7. If the firm has a constant marginal cost of $5 per unit, which of the following would you expect to occur in the long run in this market? O New firms will enter the market and profhts for firms...
Figure 14-5 Suppose a firm operating in a competitive market has the following cost curves: Price MC ATC AVC Q1 02 03 04 05 Quantity Refer to Figure 14-5. When market price is P2, a profit-maximizing firm's losses can be represented by the area a. At a market price of P2, the firm earns profits, not losses. b. At a market price of P2 the firm has losses, but the reference points in the figure don't identify the losses. C....
These three questions please
Question 37 (1 point) Table 16-1 A monopolistically competitive firm faces the following demand curve for its product: Price (S) 10 4 8 7 6 16 8 10 5 12 4 14 3 16 2 18 20 1 Refer to Table 16-1. The firm has total fixed costs of $20 and a constant marginal cost of $5 per unit. What will the firm do? It will produce 2 units; firms will exit the market in the...
QUESTION 1 1 points Let L represent the number of workers hired by a firm, and let Q represent that firm's quantity of output. Assume two points on the firm's production function are (1.8,Q-97) and (L·9,Qo1433. Then the marginal product of h worker is a 46 units of output. b. 143 units of output c1 unit of output. d. 59 units of output. 1 points QUESTION 2 Table t Bob's Bulldozers Cost Table Quantity able Margina erage age Average otal...
31 of 50 (36 complete) This Question: 1 pt Suppose that the distribution of sales within an industry is as shown in the following table: Share of Total Market Sales 15 14 12 Firm 10 10 13 100% All others Total There are 13 "All others" in the industry in the above table, each of which has a share of sales equal to 1 percent. The value of the Herfindahl-Hirschman Index for this industry isEnter your response as a whole...
In a perfectly competitive market, the market supply curve is a. the vertical sum of all the individual firms' supply curves. b. always a horizontal line. c. the marginal cost curve above average total cost for a representative firm. d. the horizontal sum of all the individual firms' supply curves. Table 14-11 Suppose that a firm in a competitive market faces the following prices and costs: Price Quantity Total Cost $5 $3 $5 $8 $12 $17 $5 $23 Refer to...
Most questions answered within 3 hours.
-
A monopoly sells in two countries . The demand curves in the two
countries are p1...
asked 44 minutes ago -
A .15kg rubber ball is bounced off a wall. Before hitting the
wall, the ball moves...
asked 1 hour ago -
A manufacturing company preparing to build a new plant is
considering three potential locations for it....
asked 1 hour ago -
B. If compound Y has approximately the same values of solubility
in toluene as compound X,...
asked 2 hours ago -
Oscar Inc. has inventory in Japan valued at 39,051,000 Yen one
year ago. One year ago...
asked 2 hours ago -
If Canada suffered from "fundamental disequilibrium," and its
government choose not to devalue its currency, a...
asked 2 hours ago -
4. How many input & output Key Value Pairs are passed into,
and emitted out of...
asked 2 hours ago -
Why would your heart not function well if constructed of
skeletal muscle? What is the particular...
asked 2 hours ago -
Please respond to this essay question in full essay form for
Chemistry 1102 Organic and Biochemistry:...
asked 2 hours ago -
Determine the head loss and velocity of flow in a water supply main
of 15.0 cm...
asked 2 hours ago -
A marketing executive who knowingly authorizes a shoddy
defective product to be brought to market is...
asked 2 hours ago -
Write a psudocode:
1. Define a function called authorize that takes in 2 strings,
uName, and...
asked 2 hours ago