Homework Answers
A.Break-even points are those points at which TR=TC.
Break-even points -a,t
B.Profit maximinzing point is the point at which the difference between TR and TC is the maximum.
Profit maximizing output=Q3.
C.e,d
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5. Use the graph below to identify: (a) break-even points; (b) the profit-maximizing level...
Refer to the graph below: Untitled.png a. What is the profit-maximizing quantity and what price will...
Refer to the graph below: Untitled.png a. What is the profit-maximizing quantity and what price will the monopolist charge? a. What is the total revenue at the profit-maximizing output level? b. What is the total cost at the profit-maximizing output level? c. What is the profit? d. What is the profit per unit (average profit) at the profit-maximizing output level? e. If this industry was organized as a perfectly competitive industry, what would be the profit- maximizing price and quantity?...
The graph below shows the TC and TVC curves of Galbraith's Globes Inc., a perfectly competitive...
The graph below shows the TC and TVC curves of Galbraith's Globes Inc., a perfectly competitive firm. a. If the price is $20, draw the total revenue curve, and label it TR Plot only the endpoints of the curve below Once all points have been plotted click on the line (not individual points) and a tool icon will pop up. You can use this to enter exact co-ordinates for your points as needed. 0 TVC Tools Total revenue Total costs/revenues...
VC. ( points) 2. (5 points) At its current level of production, a profit-maximizing firm in...
VC. ( points) 2. (5 points) At its current level of production, a profit-maximizing firm in a competitive market verage total cost of $8. At the market receives $12 for each unit it produces and faces an a price of $12 per unit, the firm's marginal cost curve crosses the marginal revenue curve at an output level of 500 units. (a) What is the firm's current profit or los? Explain. (1 point) ( Draw an bel a graph of the...
II.A. Identify and label the profit-maximizing level of output (Q) that will be pursued by this...
II.A. Identify and label the profit-maximizing level of output (Q) that will be pursued by this 'monopolistic' firm. (5 Points) $$ MC ATC AVC Market Demand Output(Q) MR II.B. Draw and label the rectangle that represents the Total Revenue (TR) generated by this 'monopolistic' firm. (5 Points) $$ MC ATC AVC Market Demand -Output(Q) MR II.C. Draw and label the rectangles that represent Total Cost (TC), Total Fixed Cost (TFC) and Total Variable Cost (TVC) generated by this ‘monopolistic' firm....
Identify and label all 4 curves in the above graph. What is Botanical Garden’s profit-maximizing quantit
Identify and label all 4 curves in the
above
graph.
What is Botanical Garden’s profit-maximizing
quantity and what price will it charge
for it?
What is Botanical Garden’s total revenue at
the profit maximizing level? Show your calculations and the unit of
account of the answer.
What is Botanical Garden’s total cost at the
profit maximizing level? Show your calculations and the unit of
account of the answer.
The graph below represents a monop olist company Botanical Gardens....
G. What is the profit-maximizing level of output?What is the maximum level of profits that the...
G. What is the profit-maximizing level of output?What is the maximum level of profits that the farm can earn? H. What is the breakeven price? What is the break even quantity? 1. What is the shutdown price? What is the shutdown quantity? J. What happens to fixed costs in the long run? What are the breakeven and shutdown points in the long run? K. Graph TC, TVC, TFC, ATC, AVC, and MC. Include labels and units. 5. Suppose that a...
5. (6 points) Find (a) the profit maximizing level of outputs and (b) maximum profit for...
5. (6 points) Find (a) the profit maximizing level of outputs and (b) maximum profit for the monopolistic producer of two products 1 and 2 with the demand functions being: Q. - 50 -0.5P 0.-76-P and the joint cost function C -30/+20,0. +20, +55. Make sure to check the second order conditions for maximion]
given the data in the table belowwhat is the short run profit maximizing level of output...
given the data in the table belowwhat is the short run profit
maximizing level of output
Given the data in the table below, what is the short-run profit-maximizing level of output for the perfectly competitive firm? Output Total Revenue Total Cost 16 20 Multiple Choice 5 units 3 units
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...
A) On the above diagram, indicate the long-run equilibrium (break-even ) point by labeling it E.
Refer to the above graph when answering the following questions. A) On the above diagram, indicate the long-run equilibrium (break-even ) point by labeling it E. B) The long-run equilibrium (break-even ) quantity is_______ units and the long-run equilibrium price is _______ Assume a market price of $10 and a firm pursuing profit maximization. C) Given the market price of $10, on the above diagram, draw and label the perfectly competitive firm's demand curve D) Total revenue at the profit-maximizing output is: E) Total cost at...
Refer to the graph below: Untitled.png a. What is the profit-maximizing quantity and what price will the monopolist charge? a. What is the total revenue at the profit-maximizing output level? b. What is the total cost at the profit-maximizing output level? c. What is the profit? d. What is the profit per unit (average profit) at the profit-maximizing output level? e. If this industry was organized as a perfectly competitive industry, what would be the profit- maximizing price and quantity?...
The graph below shows the TC and TVC curves of Galbraith's Globes Inc., a perfectly competitive firm. a. If the price is $20, draw the total revenue curve, and label it TR Plot only the endpoints of the curve below Once all points have been plotted click on the line (not individual points) and a tool icon will pop up. You can use this to enter exact co-ordinates for your points as needed. 0 TVC Tools Total revenue Total costs/revenues...
VC. ( points) 2. (5 points) At its current level of production, a profit-maximizing firm in a competitive market verage total cost of $8. At the market receives $12 for each unit it produces and faces an a price of $12 per unit, the firm's marginal cost curve crosses the marginal revenue curve at an output level of 500 units. (a) What is the firm's current profit or los? Explain. (1 point) ( Draw an bel a graph of the...
II.A. Identify and label the profit-maximizing level of output (Q) that will be pursued by this 'monopolistic' firm. (5 Points) $$ MC ATC AVC Market Demand Output(Q) MR II.B. Draw and label the rectangle that represents the Total Revenue (TR) generated by this 'monopolistic' firm. (5 Points) $$ MC ATC AVC Market Demand -Output(Q) MR II.C. Draw and label the rectangles that represent Total Cost (TC), Total Fixed Cost (TFC) and Total Variable Cost (TVC) generated by this ‘monopolistic' firm....
Identify and label all 4 curves in the
above
graph.
What is Botanical Garden’s profit-maximizing
quantity and what price will it charge
for it?
What is Botanical Garden’s total revenue at
the profit maximizing level? Show your calculations and the unit of
account of the answer.
What is Botanical Garden’s total cost at the
profit maximizing level? Show your calculations and the unit of
account of the answer.
The graph below represents a monop olist company Botanical Gardens....
G. What is the profit-maximizing level of output?What is the maximum level of profits that the farm can earn? H. What is the breakeven price? What is the break even quantity? 1. What is the shutdown price? What is the shutdown quantity? J. What happens to fixed costs in the long run? What are the breakeven and shutdown points in the long run? K. Graph TC, TVC, TFC, ATC, AVC, and MC. Include labels and units. 5. Suppose that a...
5. (6 points) Find (a) the profit maximizing level of outputs and (b) maximum profit for the monopolistic producer of two products 1 and 2 with the demand functions being: Q. - 50 -0.5P 0.-76-P and the joint cost function C -30/+20,0. +20, +55. Make sure to check the second order conditions for maximion]
given the data in the table belowwhat is the short run profit
maximizing level of output
Given the data in the table below, what is the short-run profit-maximizing level of output for the perfectly competitive firm? Output Total Revenue Total Cost 16 20 Multiple Choice 5 units 3 units
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...
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