Homework Answers
Q9 is incomplete
Q10 is answered below
10.13
Q = 5000
P = $15
MC = $15
ATC = $14.50
Since the firm is already producing at the point P = MC and making positive profit: (P-ATC)Q = (15-14.5)5000 = $2500, it means the firm is maximizing profits (a profit maximizing perfectly competitive firm produces at the point P = MC)
Thus, it is advisable for the firm to continue producing at the same level as it is already maximizing profits.
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Instructions: If you are entering any negative numbers be sure to include a negative sign ()...
Assume that the cost data in the following table are for a purely competitive producer:
Assume that the cost data in the following table are for a purely competitive producer: TotalProductAverageFixed CostAverageVariable CostAverageTotal CostMarginal Cost01$60.00$45.00$105.00$45.00230.00 42.50 72.5040.00320.00 40.00 60.0035.00415.00 37.50 52.5030.00512.00 37.00 49.0035.00610.00 37.50 47.5040.0078.57 38.57 47.1445.008 7.50 40.63 48.1355.009 6.67 43.33 50.0065.0010 6.00 46.50 52.5075.00 Instructions: If you are entering any negative numbers be sure to include a negative sign (−) in front of those numbers. Select "Not applicable" and enter a value of "0" for output if the firm does not produce. a. At a product price of $66.00 (i) Will this firm produce in the short run? (Click to select) No Yes (ii) If it is preferable to produce, what...
Same question/divided into two parts Assume that the following cost data are for a purely competitive...
Same question/divided into two parts
Assume that the following cost data are for a purely competitive producer: as Total Product Average Fixed Total Product Cost 0 na 1 $ 60.00 2 $ 30.00 $ 20.00 $ 15.00 12.00 $ 10.00 $ 8.57 $ 7.50 $ 6.67 10 6 .00 Average Average Total eost Average Total Marginal Cost Variable Cost Cost 0 .00 5 0 .00 na $ 45.00 $ 105.00 $ 45.00 $ 42.50 $ 72.50 $ 40.00 $ 40.00...
Assume that the following cost data are for a purely competitive producer Total Product Average Fixed...
Assume that the following cost data are for a purely competitive producer Total Product Average Fixed Average Average Total Marainal cos Cost Variable Cost Cost na 0.00 $ 0.00 na $ 60.00 $ 45.00 $ 105.00 $ 45.00 $ 30.00 $ 42.50 $ 72.50 $ 40.00 $ 20.00 $ 40.00 $ 60.00 $ 35.00 $ 15,00 $ 37.50 $ 52.50 $ 30.00 12.00 $ 37.00 $ 49.00 $ 35.00 10.00 $ 37.50 $ 47.50 $ 40.00 $ 8.57 $ 38.57...
Assume that the following cost data are for a purely competitive producer: total product average fixed...
Assume that the following cost data are for a purely competitive
producer:
total
product
average
fixed
cost
average
variable
cost
average
total
coast
marginal
cost
0
na
$0.00
$0.00
na
1
$60.00
$45.00
$105.00
$45.00
2
$30.00
$42.50
$72.50
$40.00
3
$20.00
$40.00
$60.00
$35.00
4
$15.00
$37.50
$52.00
$30.00
5
$12.00
$37.00
$49.00
$35.00
6
$10.00
$37.50
$47.50
$40.00
7
$8.57
$38.57
$47.14
$45.00
8
$7.50
$40.63
$48.13
$55.00
9
$6.67
$43.33
$50.00
$65.00
10
$6.00
$46.50
$52.50
$75.00...
i Saved Problem 9-4 (Algo) Assume that the following cost data are for a perfectly competitive...
i Saved Problem 9-4 (Algo) Assume that the following cost data are for a perfectly competitive producer: Total Product 0 1 2 3 4 Average Fixed Average Average Total Cost Variable Cost Marginal Cost Cost na $ 0.00 $ 0.00 na $ 60.00 $ 45.00 $ 105.00 $ 45.00 $ 30.00 $ 4250 $ 72.50 $ 40.00 $ 20.00 $ 40.00 $ 60.00 $ 35.00 $ 15.00 $ 37.50 $ 52.50 $ 30.00 $ 12.00 $ 37.00 $ 49.00 $...
i l Cort Total Product Average Fixed Average Average Total M Cost Variable Cost Cost 0.00...
i l Cort Total Product Average Fixed Average Average Total M Cost Variable Cost Cost 0.00 $ 0.00 S 6 0.00 45.00 S 105.00 S 2 s 30.00 S 42.50 $ 72.50 $ S 20.00 S 40.00 S 60.00 S 15.00 S 37.50 $ 52.50 $ 12.00 S 37.00 S 49.00 S 10.00 S 37.50 S 47.50 S 8.571 $ 38.57 S 47.14 S $ 7.50 S 40.63 S 48.13 S 9S 43.33 S 10 $ 6.00 $ 46.50 $...
Assume that the following cost data are for a purely competitive producer: Total Product Avg. Fixed...
Assume that the following cost data are for a purely competitive producer: Total Product Avg. Fixed Cost Avg. Var. Cost Avg. Total Cost Marg. Cost 0 n/a $0.00 $0.00 n/a 1 $60.00 $45.00 $105.00 $45.00 2 $30.00 $42.50 $72.50 $40.00 3 $20.00 $40.00 $60.00 $35.00 4 $15.00 $37.50 $52.50 $30.00 5 $12.00 $37.00 $49.00 $35.00 6 $10.00 $37.50 $47.50 $40.00 7 $8.57 $38.57 $47.14 $45.00 8 $7.50 $40.63 $48.13 $55.00 9 $6.67 $43.33 $50.00 $65.00 10 $6.00 $46.50 $52.50 $75.00...
Assume that the following cost data are for a perfectly competitive producer: Total Product Marginal Cost...
Assume that the following cost data are for a perfectly competitive producer: Total Product Marginal Cost , Average Fixed Cost na $60.00 30.00 20.00 15.00 12.00 10.00 Average Variable Cost $0.00 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 Average Total Cost $0.00 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 6 8.57 7.50 6.67 .00 106 Answer the questions in the first column in the table below for each of the prices listed at the...
Assume that the following cost data are for a purely competitive producer Total Product Average Fixed...
Assume that the following cost data are for a purely competitive producer Total Product Average Fixed Cost Marginal Cost na $ 45,00 $ 40,00 1 2 5 5 6 0.00 3 0.00 20.00 15.00 Average Average Total Variable Cost Cost 0.00 $ 0.00 $ 45,00 $ 105,00 $ 42.50 $ 72.50 $ 40.00 $ 60.00 $ 37.50 17 505 $ 5250 $ 37005 4 9.00 $ 3750 $ 4750 $ 38.575 $ 4063 $ 48.13 $ 4333 5 0.00 $...
Assume that the following cost data are for a purely competitive producer: Average Fixed Average Average Total...
Assume that the following cost data are for a purely competitive producer: Average Fixed Average Average Total Variable Cost Marginal Cost Total Product Cost Cost 000 S 0.00 na na 45.00 S 105.00 72.50 $ 45.00 60,00 S 42.50 S 40.00 30.00 S 6000 S 35.00 2000 S 40.00 S 52.50 S 30.00 15.00 $ 3760 S 3500 49.00 $ 12.00 S 37.00 S 1000$ 37.50 S 47.50 S 47.14 S 40.00 3857 S 45.00 857 $ 48.13 S 55.00 4063...
Same question/divided into two parts
Assume that the following cost data are for a purely competitive producer: as Total Product Average Fixed Total Product Cost 0 na 1 $ 60.00 2 $ 30.00 $ 20.00 $ 15.00 12.00 $ 10.00 $ 8.57 $ 7.50 $ 6.67 10 6 .00 Average Average Total eost Average Total Marginal Cost Variable Cost Cost 0 .00 5 0 .00 na $ 45.00 $ 105.00 $ 45.00 $ 42.50 $ 72.50 $ 40.00 $ 40.00...
Assume that the following cost data are for a purely competitive producer Total Product Average Fixed Average Average Total Marainal cos Cost Variable Cost Cost na 0.00 $ 0.00 na $ 60.00 $ 45.00 $ 105.00 $ 45.00 $ 30.00 $ 42.50 $ 72.50 $ 40.00 $ 20.00 $ 40.00 $ 60.00 $ 35.00 $ 15,00 $ 37.50 $ 52.50 $ 30.00 12.00 $ 37.00 $ 49.00 $ 35.00 10.00 $ 37.50 $ 47.50 $ 40.00 $ 8.57 $ 38.57...
Assume that the following cost data are for a purely competitive
producer:
total
product
average
fixed
cost
average
variable
cost
average
total
coast
marginal
cost
0
na
$0.00
$0.00
na
1
$60.00
$45.00
$105.00
$45.00
2
$30.00
$42.50
$72.50
$40.00
3
$20.00
$40.00
$60.00
$35.00
4
$15.00
$37.50
$52.00
$30.00
5
$12.00
$37.00
$49.00
$35.00
6
$10.00
$37.50
$47.50
$40.00
7
$8.57
$38.57
$47.14
$45.00
8
$7.50
$40.63
$48.13
$55.00
9
$6.67
$43.33
$50.00
$65.00
10
$6.00
$46.50
$52.50
$75.00...
i Saved Problem 9-4 (Algo) Assume that the following cost data are for a perfectly competitive producer: Total Product 0 1 2 3 4 Average Fixed Average Average Total Cost Variable Cost Marginal Cost Cost na $ 0.00 $ 0.00 na $ 60.00 $ 45.00 $ 105.00 $ 45.00 $ 30.00 $ 4250 $ 72.50 $ 40.00 $ 20.00 $ 40.00 $ 60.00 $ 35.00 $ 15.00 $ 37.50 $ 52.50 $ 30.00 $ 12.00 $ 37.00 $ 49.00 $...
i l Cort Total Product Average Fixed Average Average Total M Cost Variable Cost Cost 0.00 $ 0.00 S 6 0.00 45.00 S 105.00 S 2 s 30.00 S 42.50 $ 72.50 $ S 20.00 S 40.00 S 60.00 S 15.00 S 37.50 $ 52.50 $ 12.00 S 37.00 S 49.00 S 10.00 S 37.50 S 47.50 S 8.571 $ 38.57 S 47.14 S $ 7.50 S 40.63 S 48.13 S 9S 43.33 S 10 $ 6.00 $ 46.50 $...
Assume that the following cost data are for a perfectly competitive producer: Total Product Marginal Cost , Average Fixed Cost na $60.00 30.00 20.00 15.00 12.00 10.00 Average Variable Cost $0.00 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 Average Total Cost $0.00 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 6 8.57 7.50 6.67 .00 106 Answer the questions in the first column in the table below for each of the prices listed at the...
Assume that the following cost data are for a purely competitive producer Total Product Average Fixed Cost Marginal Cost na $ 45,00 $ 40,00 1 2 5 5 6 0.00 3 0.00 20.00 15.00 Average Average Total Variable Cost Cost 0.00 $ 0.00 $ 45,00 $ 105,00 $ 42.50 $ 72.50 $ 40.00 $ 60.00 $ 37.50 17 505 $ 5250 $ 37005 4 9.00 $ 3750 $ 4750 $ 38.575 $ 4063 $ 48.13 $ 4333 5 0.00 $...
Assume that the following cost data are for a purely competitive producer: Average Fixed Average Average Total Variable Cost Marginal Cost Total Product Cost Cost 000 S 0.00 na na 45.00 S 105.00 72.50 $ 45.00 60,00 S 42.50 S 40.00 30.00 S 6000 S 35.00 2000 S 40.00 S 52.50 S 30.00 15.00 $ 3760 S 3500 49.00 $ 12.00 S 37.00 S 1000$ 37.50 S 47.50 S 47.14 S 40.00 3857 S 45.00 857 $ 48.13 S 55.00 4063...
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