Homework Answers
When price is fixed at $5, firm experiences a marginal revenue MR = P = $5. Then it sets MR = MC which gives 10 + 2Q = 5 or Q = -2.5. Since MC is minimum at $10 while price is less than $10, there is no production. Thus, output is 0.
Select 0
$14 $13 MC 1 $12 $11 MC 2 $10 $9 $8 Marginal Cost of Hoodies $7...
$14 $13 MC 1 $12 $11 MC 2 $10 $9 $8 Marginal Cost of Hoodies $7 $6 $5 $4 $3 $2. $1 so $0 0 100 200 300 400 500 600 700 800 900 1000 Quantity of Hoodies The above graph shows two possible marginal cost curves for the production of hoodies (hooded sweatshirts). Assume the market for hoodies is perfectly competitive. If a hoodie industry consists of 20 firms with a marginal cost curve of MC 1 and 10...
D Question 7 1 pts Use the following graph that shows the marginal cost (MC) curve,...
D Question 7 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average Total Cost (ATC) curve. What is the variable cost when the quantity (Q) being produced is 6? P MC ATC /AVC $15 $11 $8 Q O $66 $8 O $15 $11 Question 8 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average...
Question 3: Consider a monopoly which faces the demand curve P= 55-2Q and having a marginal...
Question 3: Consider a monopoly which faces the demand curve P= 55-2Q and having a marginal cost function MC= 2Q-5. a) (2pts) Calculate the marginal revenue (MR) function. b) (2 pts) State the profit maximizing output rule for the monopoly in the short-run. c) (4 pts) What is the profit maximing output level? Next, calculate the price and the profit of the monopoly?
is 10. The marginal revenue of socks given as MR = 100-2Q The marginal Cost Of...
is 10. The marginal revenue of socks given as MR = 100-2Q The marginal Cost Of socks is given as MC = 5078Q. How many socks will be produced to maximize profit а 0 b. 5 C.50 de 100
Assume that a single price monopolist has a marginal cost curve given by MC=10+2Q. Further the...
Assume that a single price monopolist has a marginal cost curve given by MC=10+2Q. Further the demand curve that it faces is given by p=250-Q. Compared to a perfectly competitive industry with the same demand and cost equations, the loss in consumer surplus in this market equals: O 1600. 1800. O 1200 O 1400
The graph shows a firm's average total cost (ATC) and marginal cost (MC) curves. At what...
The graph shows a firm's average total cost (ATC) and marginal cost (MC) curves. At what output level does the firm have economies of scale? 12 11 10 MC ATC 9 8 Price $/Q 4 3 N 14 16 15 0 12 13 10 9 8 7 6 4 5 3 2 0 Quantity Quantit OQ > 4 OQ < 4 OQ> 8 OQ < 8
Suppose the firm’s total cost and marginal cost functions are given by TC=54+Q+2Q^3 and MC=1+4Q^2, respectively....
Suppose the firm’s total cost and marginal cost functions are given by TC=54+Q+2Q^3 and MC=1+4Q^2, respectively. What is the output level that minimizes average total cost? A. 2 B. 3 C. 6 D. 8
D Question 5 0.5 pts The following table lists the marginal costs (MC) of producing tires...
D Question 5 0.5 pts The following table lists the marginal costs (MC) of producing tires for four companies: A1 Auto Tire $6 Acme Premier Auto $4 $8 $10 If the price of tires is $9, what is the total producer surplus? $[ps] D Question 6 0.5 pts
Suppose marginal benefit is given by P-9 Q, marginal private cost is given by P-2Q, and...
Suppose marginal benefit is given by P-9 Q, marginal private cost is given by P-2Q, and marginal external cost 1S 2 What is the socially optimal price? 5. What is the deadweight loss? 6. How much would a corrective (Pigouvian) tax need to be to move the market equilibrium to the socially optimal equilibrium?
Question 26 (1 point) THI MC $12 $11 $10 $9 $8 $7 $6 ATC Cost of...
Question 26 (1 point) THI MC $12 $11 $10 $9 $8 $7 $6 ATC Cost of Flashlights AVC $3 $2 $1 $0 0 1 2 8 9 10 3 4 5 6 7 Quantity of Flashlights The above graph shows the average total cost (ATC) marginal cost (MC) and average variable cost (AVC) for a flashlight producer. What is this producer's fixed costs? The above graph shows the average total cost (ATC) marginal cost (MC) and average variable cost (AVC)...
$14 $13 MC 1 $12 $11 MC 2 $10 $9 $8 Marginal Cost of Hoodies $7 $6 $5 $4 $3 $2. $1 so $0 0 100 200 300 400 500 600 700 800 900 1000 Quantity of Hoodies The above graph shows two possible marginal cost curves for the production of hoodies (hooded sweatshirts). Assume the market for hoodies is perfectly competitive. If a hoodie industry consists of 20 firms with a marginal cost curve of MC 1 and 10...
D Question 7 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average Total Cost (ATC) curve. What is the variable cost when the quantity (Q) being produced is 6? P MC ATC /AVC $15 $11 $8 Q O $66 $8 O $15 $11 Question 8 1 pts Use the following graph that shows the marginal cost (MC) curve, the Average Variable Cost (AVC) curve, and the Average...
Question 3: Consider a monopoly which faces the demand curve P= 55-2Q and having a marginal cost function MC= 2Q-5. a) (2pts) Calculate the marginal revenue (MR) function. b) (2 pts) State the profit maximizing output rule for the monopoly in the short-run. c) (4 pts) What is the profit maximing output level? Next, calculate the price and the profit of the monopoly?
is 10. The marginal revenue of socks given as MR = 100-2Q The marginal Cost Of socks is given as MC = 5078Q. How many socks will be produced to maximize profit а 0 b. 5 C.50 de 100
Assume that a single price monopolist has a marginal cost curve given by MC=10+2Q. Further the demand curve that it faces is given by p=250-Q. Compared to a perfectly competitive industry with the same demand and cost equations, the loss in consumer surplus in this market equals: O 1600. 1800. O 1200 O 1400
The graph shows a firm's average total cost (ATC) and marginal cost (MC) curves. At what output level does the firm have economies of scale? 12 11 10 MC ATC 9 8 Price $/Q 4 3 N 14 16 15 0 12 13 10 9 8 7 6 4 5 3 2 0 Quantity Quantit OQ > 4 OQ < 4 OQ> 8 OQ < 8
D Question 5 0.5 pts The following table lists the marginal costs (MC) of producing tires for four companies: A1 Auto Tire $6 Acme Premier Auto $4 $8 $10 If the price of tires is $9, what is the total producer surplus? $[ps] D Question 6 0.5 pts
Suppose marginal benefit is given by P-9 Q, marginal private cost is given by P-2Q, and marginal external cost 1S 2 What is the socially optimal price? 5. What is the deadweight loss? 6. How much would a corrective (Pigouvian) tax need to be to move the market equilibrium to the socially optimal equilibrium?
Question 26 (1 point) THI MC $12 $11 $10 $9 $8 $7 $6 ATC Cost of Flashlights AVC $3 $2 $1 $0 0 1 2 8 9 10 3 4 5 6 7 Quantity of Flashlights The above graph shows the average total cost (ATC) marginal cost (MC) and average variable cost (AVC) for a flashlight producer. What is this producer's fixed costs? The above graph shows the average total cost (ATC) marginal cost (MC) and average variable cost (AVC)...
Most questions answered within 3 hours.
-
Write a script in MySQL that creates and calls a stored
procedure name test. This procedure...
asked 4 minutes ago -
Estimating effect size. Peng and Chen (2014)
evaluated effect size estimates for various tests. In their...
asked 3 minutes ago -
If we test the following: H0: μ = 17
vs. H1: μ ≠ 17 and the...
asked 14 minutes ago -
in the past year TVG had revenues of 3 million, cost
of goods sold of $25...
asked 20 minutes ago -
4) In a polypeptide, which bond cannot rotate because of its
partial double bond character?
The...
asked 53 minutes ago -
Assume that in the short run L = 1,000 and K = 100. 1. What is...
asked 47 minutes ago -
At a given temperature, 2.06 atm of H2 and 3.7 atm of Br2 are
mixed and...
asked 46 minutes ago -
Sodium reacts with Hydrochloric acid to form sodium chloride and
hydrogen gas. 2Na(s)+ 2 HCl(aq)-> 2...
asked 53 minutes ago -
The following circuits (1 & 2) are combined to form a
series-parallel circuit and resulting circuit...
asked 1 hour ago -
Feynman's use of path integrals can make some of the transition
from quantum scale to real...
asked 1 hour ago -
Pb(NO3)2 (aq) + 2 KCl (aq) PbCl2 (s) + 2 KNO3 (aq)
If 54.5mL of 3.82M...
asked 1 hour ago -
Razeghi (2008) states "In order to succeed at innovation, do not
focus on being creative; rather...
asked 1 hour ago