Homework Answers
Q36
Answer
The firm produces at MR=MC
Where
Q=60 units and P=20
TR=P*Q=60*20=$1200
Option b
========
Q37
Answer
Total fixed cost = (ATC-AVC)*Q
ATC=14 and AVC=10
TFC= (14-10)*60=$240
Option c
========
Q38
Answer
Economic profit = (P-ATC)*Q
= (20-14)*60
=$360
Option b
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help needed thanks!
1 TD) of 9 ZOOM + Refer to graph below to answer the...
Please solve both and show work. Use the graph below oh below to answer the next two questions. ATC MC $5.50 AVC $4....
Please solve both and show work.
Use the graph below oh below to answer the next two questions. ATC MC $5.50 AVC $4.50 -MR $3 25 40 50 Quantity 35. This profit-maximizing firm will produce units of output and have total revenue of a. 40; $170 b. 40; $220 c 5 0; $225 d. 50; $275 This profit-maximizing firm is: a. in long-run equilibrium. b. earning an economic profit of $40 in the short run. earning an economic profit of...
SECTION NAME PRINTLASENAME FIRSTNAM Use the graph below or profit maximizing/ose minimizing perfectly competitive firme answer...
SECTION NAME PRINTLASENAME FIRSTNAM Use the graph below or profit maximizing/ose minimizing perfectly competitive firme answer questions 6 through 10. ATO AVC -MR 6. 91 92 93 94 Quantity At the market-determined price of P2, the profit-maximizing/loss-minimizing level of output is: a. 91 b. 92. c. 93. d. 94. Total cost (TC) at the profit-maximizing/loss-minimizing level of output is given by the area: a. OP fq2. OP4092 b. P2P ac. P, P4af Total fixed cost (TFC) is given by the...
Figure 16-3 This figure depicts a situation in a monopolistically competitive market. BE 9. Refer to Figure 16-3. W...
Figure 16-3 This figure depicts a situation in a monopolistically competitive market. BE 9. Refer to Figure 16-3. What price will the monopolistically competitive firm charge in this market? a $70 b. $80 c. $60 d. 575 10. Refer to Figure 16-3. How much profit will the monopolistically competitive firm earn in this situation? a. So b. $80 c. $400 d. $200 11. Refer to Figure 16-3. How much output will the monopolistically competitive firm produce in this situation ..40...
8. Refer to the graph above depicting a perfectly competitive firm. When maximizing profit, the total...
8. Refer to the graph above depicting a perfectly competitive firm. When maximizing profit, the total profit earned by the firm represented is: A. $220. B. $275. C. $330 D. $605, 26. Refer to the graph above of a monopolistically competitive firm. If the firm maximizes profit, it will earn: A. zero economic profit this year. B. $320,000 economic profit this year. C. 584,000 economic profit this year. D. $56,000 economic profit this year. ATC AVC - 01 02 03...
Based on the graph below, notice there are cost lines and four different price levels. Answer...
Based on the graph below, notice there are cost lines and four different price levels. Answer the following A- D questions: MC P-MR-ID ATC AYC Quantity (A)Which point (a-g) on the graph is the profit-maximizing production level for a firm making positive economic profits? level? (B) Ifthis firm was in long-run equilibrium, which point would represent the profit-maximizing production (C) If the firm was incurring losses but would operate in the short run, which point would represent the loss- minimizing...
Price MC ATC AVC - MR 40 45 47 Quantity a. (1 points) Using the graph...
Price MC ATC AVC - MR 40 45 47 Quantity a. (1 points) Using the graph above, what is the profit maximizing or loss minimizing output and price? b. (1 point)Using the graph above, what is the profit or loss for the profit maximizing firm? c. (2 points) What would happen in this market in the long run. Be sure to explain in detail what happens in the market and the firm. What would be the long run price, and...
I need help with 19 and 20. I tried my best on 19 but I don't...
I need help with 19 and 20. I tried my best on 19 but I don't
know if the answer I circled is correct. Thank you.
Use the graph below to answer the next two questions MC ATC $Price $12 Z MR SIO $9.75 opinion planosno is asheviote/i / l Avc AZ MR s ni b u dardi songsdl. alle / svo / hos olla lubivibilons Sans que lo 20onnalisa moss andia-aong nominovano sodninaluubi ne b allo 50 60 ob...
5. Short-run supply and long-run equilibrium Consider the competitive market for copper. Assume that, regardless of...
5. Short-run supply and long-run equilibrium Consider the competitive market for copper. Assume that, regardless of how many firms are in the industry, every firm in the industry is identical and faces the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves shown on the following graph. COSTS (Dollars per pound) AVC MC O 0 3 27 30 6 9 12 15 18 21 24 QUANTITY (Thousands of pounds) The following diagram shows the market demand...
Help with 14-16 please. 14. A Monopoly: A. Will realize an economic profit if price exceeds...
Help with 14-16 please.
14. A Monopoly: A. Will realize an economic profit if price exceeds ATC at the profit-maximizing/loss-minimizing level of output. B. Will realize an economic profit if ATC exceeds MR at the profit-maximizing/loss-minimizing level of output c. Will realize an economic loss if MC intersects the down-sloping portion of MR D. Always realizes an economic profit. MC ATC AVC 15. At equilibrium, the profit-maximizing monopolist facing the situation shown in the graph above will face: A. Average...
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...
Please solve both and show work.
Use the graph below oh below to answer the next two questions. ATC MC $5.50 AVC $4.50 -MR $3 25 40 50 Quantity 35. This profit-maximizing firm will produce units of output and have total revenue of a. 40; $170 b. 40; $220 c 5 0; $225 d. 50; $275 This profit-maximizing firm is: a. in long-run equilibrium. b. earning an economic profit of $40 in the short run. earning an economic profit of...
SECTION NAME PRINTLASENAME FIRSTNAM Use the graph below or profit maximizing/ose minimizing perfectly competitive firme answer questions 6 through 10. ATO AVC -MR 6. 91 92 93 94 Quantity At the market-determined price of P2, the profit-maximizing/loss-minimizing level of output is: a. 91 b. 92. c. 93. d. 94. Total cost (TC) at the profit-maximizing/loss-minimizing level of output is given by the area: a. OP fq2. OP4092 b. P2P ac. P, P4af Total fixed cost (TFC) is given by the...
Figure 16-3 This figure depicts a situation in a monopolistically competitive market. BE 9. Refer to Figure 16-3. What price will the monopolistically competitive firm charge in this market? a $70 b. $80 c. $60 d. 575 10. Refer to Figure 16-3. How much profit will the monopolistically competitive firm earn in this situation? a. So b. $80 c. $400 d. $200 11. Refer to Figure 16-3. How much output will the monopolistically competitive firm produce in this situation ..40...
8. Refer to the graph above depicting a perfectly competitive firm. When maximizing profit, the total profit earned by the firm represented is: A. $220. B. $275. C. $330 D. $605, 26. Refer to the graph above of a monopolistically competitive firm. If the firm maximizes profit, it will earn: A. zero economic profit this year. B. $320,000 economic profit this year. C. 584,000 economic profit this year. D. $56,000 economic profit this year. ATC AVC - 01 02 03...
Based on the graph below, notice there are cost lines and four different price levels. Answer the following A- D questions: MC P-MR-ID ATC AYC Quantity (A)Which point (a-g) on the graph is the profit-maximizing production level for a firm making positive economic profits? level? (B) Ifthis firm was in long-run equilibrium, which point would represent the profit-maximizing production (C) If the firm was incurring losses but would operate in the short run, which point would represent the loss- minimizing...
Price MC ATC AVC - MR 40 45 47 Quantity a. (1 points) Using the graph above, what is the profit maximizing or loss minimizing output and price? b. (1 point)Using the graph above, what is the profit or loss for the profit maximizing firm? c. (2 points) What would happen in this market in the long run. Be sure to explain in detail what happens in the market and the firm. What would be the long run price, and...
I need help with 19 and 20. I tried my best on 19 but I don't
know if the answer I circled is correct. Thank you.
Use the graph below to answer the next two questions MC ATC $Price $12 Z MR SIO $9.75 opinion planosno is asheviote/i / l Avc AZ MR s ni b u dardi songsdl. alle / svo / hos olla lubivibilons Sans que lo 20onnalisa moss andia-aong nominovano sodninaluubi ne b allo 50 60 ob...
5. Short-run supply and long-run equilibrium Consider the competitive market for copper. Assume that, regardless of how many firms are in the industry, every firm in the industry is identical and faces the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves shown on the following graph. COSTS (Dollars per pound) AVC MC O 0 3 27 30 6 9 12 15 18 21 24 QUANTITY (Thousands of pounds) The following diagram shows the market demand...
Help with 14-16 please.
14. A Monopoly: A. Will realize an economic profit if price exceeds ATC at the profit-maximizing/loss-minimizing level of output. B. Will realize an economic profit if ATC exceeds MR at the profit-maximizing/loss-minimizing level of output c. Will realize an economic loss if MC intersects the down-sloping portion of MR D. Always realizes an economic profit. MC ATC AVC 15. At equilibrium, the profit-maximizing monopolist facing the situation shown in the graph above will face: A. Average...
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...
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