Homework Answers
a) If the price of the burger is $4 then in that case the firm will be producing at a point were the price and the MC meets together. he will be producing at the output 300.
b) At this price the total cost is 3 and the price is 4 so the revenue will be 4 x 300 = 1200 and total cost will be 3 x 300 = 900. Profit of the firm will be 300.
c) the price will decrease in the long run as more firms in the market will be entering and increasing the supply, this will reduce the supply to the point were all the firms in the market are just breaking even.
Add Answer to:
MC ATC 2. Ray's is one of many burger stands along the beach. The figure below...
MC 5 ATC Price and costs (cents) 3 N 0 8 16 24 32 40 48...
MC 5 ATC Price and costs (cents) 3 N 0 8 16 24 32 40 48 56 64 Quantity (pages per hour) Fast Copy is a perfectly competitive firm. The figure above shows Fast Copy's cost curves. The current market price is 2 cents per page. With no change in demand and technology, in the long run, the price will remain unchanged. rise to 5 cents per page. rise to 4 cents per page. fall to 1 cent per page.
MC ATC Cost ($ per unit) ONWA0BB 9 10 Quantity The figure above gives the marginal...
MC ATC Cost ($ per unit) ONWA0BB 9 10 Quantity The figure above gives the marginal cost (MC) and average total cost (ATC) curves for a firm operating in a perfectly competitive market with a market price of $7. Use this figure to answer the questions below. a. What is the profit maximizing quantity of output? b. When profit is maximized, what is the economic profit?
Price, marginal revenue, marginal cost, average total cost $35.... ATC 29.. 26. MC 8 5 0...
Price, marginal revenue, marginal cost, average total cost $35.... ATC 29.. 26. MC 8 5 0 160 220 250 300 Quantity of output (per weok) a. The profit-maximizing monopoly firm maximizes their profit at equals to The firm in the above figure will produce units of output per week. b. This profit-maximizing monopoly firm's price per unit is c. This profit-maximizing monopoly firm's cost per unit at its profit-maximizing quantity is d. This profit-maximizing monopoly firm's economic profit per unit...
I need help on the graph. Price and cost (dollars per burger) The graph shows the...
I need help on the graph.
Price and cost (dollars per burger) The graph shows the demand curve, marginal revenue curve, and cost curves of Bob's Best Burgers, a firm in monopolistic competition. 5.50 Draw an arrow at the profit-maximizing quantity to show the firm's markup. @ 8 ปี Because firms (of which Bob's is one) are_ _ the burger market. _, we would expect firms to O A. making an economic profit, enter O B. incurring an economic loss,...
The figure is drawn for a monopolistically competitive firm. MC ATC 140 123.33 8 PRICE Demand...
The figure is drawn for a monopolistically competitive firm. MC ATC 140 123.33 8 PRICE Demand 90 56.67 MR 100 133.33 QUANTITY Refer to Figure 16-5. The quantity of output at which the MC and ATC curves cross is the long-run equilibrium quantity of output for the firm. short-run equilibrium quantity of output for the firm. efficient scale of the firm. profit-maximizing quantity.
QUESTION 39 Price and cost MC ATC AVC N O P MR Demand RSTU Quantity (per...
QUESTION 39 Price and cost MC ATC AVC N O P MR Demand RSTU Quantity (per period) The figure above shows different curves for a short-run monopolist. What is the profit-maximizing quantity level? OQ OR Os От Ου
Figure 2: Short-run unit cost curves P MC ATC 15 AVC 12 11 9 8 5...
Figure 2: Short-run unit cost curves P MC ATC 15 AVC 12 11 9 8 5 1 1 1 ! сл 8 10 13 17 Q Use figure 2, which depicts the cost curves of a perfectly competitive firm to answer the following a)(3 points) When the market prices is $8, what is the firm's short run profit maximizing output? b) (3 points)At a market price of $8, is the firm earning positive, negative, or zero economic profit? c) (3...
O Clothing Wheat Cheeseburgers Cell phones Question 14 1 pts MCA $ 400 ATC 300 200...
O Clothing Wheat Cheeseburgers Cell phones Question 14 1 pts MCA $ 400 ATC 300 200 ·D=MR loo 15 20 30 Q HE ensider the graph below. What type of firm is represented in the graph? Monopoly Price maker Price taker Oligopoly Question 15 1 pts Consider the graph in the picture. Assuming the form is maximizing its profit, what quantity will it produce? se MC A 400 ATC ·D=MR 300 200 loo 15 90 30 THEI Question 16 1...
A firm's ATC, AVC, MR, and MC curves are shown in the graph below. Profit-Maximizing Point...
A firm's ATC, AVC, MR, and MC curves are shown in the graph below. Profit-Maximizing Point Profit-Maximizing Point Economic Profit (shaded region) 54+ 48 IMR Cost and revenues AVC HHHHHHHHHHHHHHHHHHHHO 044 Reset 8 12 16 20 24 28 32 36 40 44 48 Output a) Draw the short-run profit-maximizing point and the economic profit region. Select which item you want to draw from the drop-down menu at the top of the graph to draw that item. b) What is the...
1 Price The figure below captures a firm in a perfectly competitive industry. MC ATC AVC...
1 Price The figure below captures a firm in a perfectly competitive industry. MC ATC AVC ا أ ا 1 2 3 4 5 6 7 8 Quantity Suppose the current price is $6. What will happen in the long run? O Nothing will happen in the long run. The firm is earning zero economic profit. O Since the firm is earning a positive economic profit, there is an incentive for new firms to enter the industry in the long...
MC 5 ATC Price and costs (cents) 3 N 0 8 16 24 32 40 48 56 64 Quantity (pages per hour) Fast Copy is a perfectly competitive firm. The figure above shows Fast Copy's cost curves. The current market price is 2 cents per page. With no change in demand and technology, in the long run, the price will remain unchanged. rise to 5 cents per page. rise to 4 cents per page. fall to 1 cent per page.
MC ATC Cost ($ per unit) ONWA0BB 9 10 Quantity The figure above gives the marginal cost (MC) and average total cost (ATC) curves for a firm operating in a perfectly competitive market with a market price of $7. Use this figure to answer the questions below. a. What is the profit maximizing quantity of output? b. When profit is maximized, what is the economic profit?
Price, marginal revenue, marginal cost, average total cost $35.... ATC 29.. 26. MC 8 5 0 160 220 250 300 Quantity of output (per weok) a. The profit-maximizing monopoly firm maximizes their profit at equals to The firm in the above figure will produce units of output per week. b. This profit-maximizing monopoly firm's price per unit is c. This profit-maximizing monopoly firm's cost per unit at its profit-maximizing quantity is d. This profit-maximizing monopoly firm's economic profit per unit...
I need help on the graph.
Price and cost (dollars per burger) The graph shows the demand curve, marginal revenue curve, and cost curves of Bob's Best Burgers, a firm in monopolistic competition. 5.50 Draw an arrow at the profit-maximizing quantity to show the firm's markup. @ 8 ปี Because firms (of which Bob's is one) are_ _ the burger market. _, we would expect firms to O A. making an economic profit, enter O B. incurring an economic loss,...
The figure is drawn for a monopolistically competitive firm. MC ATC 140 123.33 8 PRICE Demand 90 56.67 MR 100 133.33 QUANTITY Refer to Figure 16-5. The quantity of output at which the MC and ATC curves cross is the long-run equilibrium quantity of output for the firm. short-run equilibrium quantity of output for the firm. efficient scale of the firm. profit-maximizing quantity.
QUESTION 39 Price and cost MC ATC AVC N O P MR Demand RSTU Quantity (per period) The figure above shows different curves for a short-run monopolist. What is the profit-maximizing quantity level? OQ OR Os От Ου
Figure 2: Short-run unit cost curves P MC ATC 15 AVC 12 11 9 8 5 1 1 1 ! сл 8 10 13 17 Q Use figure 2, which depicts the cost curves of a perfectly competitive firm to answer the following a)(3 points) When the market prices is $8, what is the firm's short run profit maximizing output? b) (3 points)At a market price of $8, is the firm earning positive, negative, or zero economic profit? c) (3...
O Clothing Wheat Cheeseburgers Cell phones Question 14 1 pts MCA $ 400 ATC 300 200 ·D=MR loo 15 20 30 Q HE ensider the graph below. What type of firm is represented in the graph? Monopoly Price maker Price taker Oligopoly Question 15 1 pts Consider the graph in the picture. Assuming the form is maximizing its profit, what quantity will it produce? se MC A 400 ATC ·D=MR 300 200 loo 15 90 30 THEI Question 16 1...
A firm's ATC, AVC, MR, and MC curves are shown in the graph below. Profit-Maximizing Point Profit-Maximizing Point Economic Profit (shaded region) 54+ 48 IMR Cost and revenues AVC HHHHHHHHHHHHHHHHHHHHO 044 Reset 8 12 16 20 24 28 32 36 40 44 48 Output a) Draw the short-run profit-maximizing point and the economic profit region. Select which item you want to draw from the drop-down menu at the top of the graph to draw that item. b) What is the...
1 Price The figure below captures a firm in a perfectly competitive industry. MC ATC AVC ا أ ا 1 2 3 4 5 6 7 8 Quantity Suppose the current price is $6. What will happen in the long run? O Nothing will happen in the long run. The firm is earning zero economic profit. O Since the firm is earning a positive economic profit, there is an incentive for new firms to enter the industry in the long...
Most questions answered within 3 hours.
-
Developmental biology
A mouse contains a mutation that results in a failure of their
long
bones...
asked 2 minutes ago -
Alice has the RSA public key (n, e) = (11413, 251) and private
key d =...
asked 2 minutes ago -
QUESTION 5
A drug or medicine can reach the brain more effectively by
placing the drug...
asked 6 minutes ago -
Rammazzotti, Inc., is looking for feedback on company
performance. The company compares the budget for the...
asked 7 minutes ago -
A manufacturer of chocolate chips would like to know whether its
bag filling machine works correctly...
asked 16 minutes ago -
Consider the student registration business process at
your college:
1.)Describe the steps necessary for you to...
asked 23 minutes ago -
when released from rest at point A, an unknown ion moves to
point B. At point...
asked 15 minutes ago -
A stock is expected to pay the following dividends: $1.1
four years from now, $1.4 five...
asked 20 minutes ago -
G=yellow and g=green pea seeds. You cross a heterozygous
yellow-seeded plant with a green-seeded plant to...
asked 23 minutes ago -
Current Balance Experiment
a) When there is no current flowing through the electromagnet
coil, is there...
asked 22 minutes ago -
In Visual Basic 2017, Write a complete Main method that prints
Hello, world to the screen....
asked 38 minutes ago -
a) Find the pressure difference on an airplane wing if air flows
over the upper surface...
asked 44 minutes ago