Please answer both parts. thanks!
1) What are the firm’s total costs?
2) What will the firm’s profits be?
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Please answer both parts. thanks!
1) What are the firm’s total costs?
2) What will the...
Suppose a firm with cost structure c(y)= y2 + 2y +4 is the only producer of...
Suppose a firm with cost structure c(y)= y2 + 2y +4 is the only producer of the good in the market. Market demand is given as y(p)= 40 - 2p What is the profit-maximizing quantity for this firm? Suppose a firm with cost structure c(y)= y + 2y + 4 is the only producer of the good in the market. Market demand is given as y(p)= 40 - 2p What price will the firm charge? Suppose a firm with cost...
Please help! Suppose a firm with cost structure c(y)=y^2+2y+4 is the only producer of the good in the market. Market demand is given as y(p)=40−2p What is the profit-maximizing quantity for this firm?
Suppose a firm with a cost structurec(y)=y2+2y+4is the only producer of the good in the market. Market demand is given asy(p)=40−2pWhat is the profit-maximizing quantity for this firm?
5.* MBI and Pear are the only two producers of computers. MBI started producing earlier than Pear. MBI's costs of p...
5.* MBI and Pear are the only two producers of computers. MBI started producing earlier than Pear. MBI's costs of production are given by C1(/1) = y?. Pear's cost function is C2(y2) = The national demand for computers is y 106 - 105p (a) Calculate the Stackelberg equilibrium in which MBI is the leader in this market. Indicate output levels, market price, and the profits of each firm 5y2 (b) Suppose that both firms enter this market at the same...
1) Suppose the second-hand market for concert tickets is perfectly competitive and there are primarily 10...
1) Suppose the second-hand market for concert tickets is perfectly competitive and there are primarily 10 online websites where consumers can buy tickets. The following describes the market demand for concerts and the cost of selling tickets. Market Demand: Q = 480 - 4p Cost to Firm: c(q) = 2.5q^2 + 100 Market Structure: Perfect Competition with N = 10 in the short run Market Equilibrium – Intersection of Market Demand and Market Supply e) How many tickets does each...
Please Answer Part 2. The market for fabric has only one producer. Assume that daily market...
Please Answer Part 2. The market for fabric has only one producer. Assume that daily market demand for fabric is y = 100,000 - 100p, where y denotes the quantity and p denotes the unit price. Also assume that producing y units of fabric costs 100y. 1. How many units of fabric should the producer produce and sell in order to maximize profits? Calculate the profit-maximizing price and the profit. 2. Now suppose that to produce one unit of fabric...
A natural monopolist has the total cost function c(y) = 350 + 20y, where y is...
A natural monopolist has the total cost function c(y) = 350 + 20y, where y is its output. The inverse demand function for the monopolist’s product is p = 100 – 2y. a) The firm is required by law to meet demand at a price equal to its marginal costs. Calculate the output, the price, profits of the firm, consumers’ surplus and the deadweight loss in the market if the firm To complies with this law. b) Suppose now that...
Consider the following information about a firm’s long-run total costs (assuming that other firms could produce...
Consider the following information about a firm’s long-run total costs (assuming that other firms could produce at the same cost values): qA TC 0 0 100 2200 200 3600 300 5400 400 7600 500 10000 For each value of qA (except when qA = 0), provide the numerical value of the firm’s average total cost AC. Then, compare these AC values with the firm’s AVC (average variable cost) values at each value of qA. For any given level of qA,...
1. For a perfectly competitive firm, long-run average cost is: LAC = 300 - 20Q +...
1. For a perfectly competitive firm, long-run average cost is: LAC = 300 - 20Q + 1.8Q2, where Q denotes the firm’s output. The firm’s long-run profit-maximizing price is _____. 2. Demand for a good is given by: QD = 50 – 2P and supply by QS = 1P – 10, where P is the market price of the good. In equilibrium, price would be ___. 3. Demand for a good is given by: QD = 50 – 2P and...
(8 points) Suppose a monopolist is the only firm that supplies water for the city of...
(8 points) Suppose a monopolist is the only firm that supplies water for the city of Atlanta The firm faces a market demand curve given by Q- 33-P, where P is the price of water and Q is the market demand for water per day. (1 pt) Derive the monopolist's marginal revenue curve. (2 pts) Suppose the total cost of this firm is described by a. b. TC 0.50+30. What output level will the firm choose to maximize profits? What...
I am really stuck with this please help Thanks. 4. Suppose that a firm produces two...
I am really stuck with this please help Thanks.
4. Suppose that a firm produces two different outputs, the quantities of which are repre- sented by yı and y2. In general, the firm's total costs can be represented by C(y1, y2). This function exhibits economies of scope if C(0,42) + C(4,0) > C(y1, y2) for all output levels of either good. 4.1 Explain in words why this mathematical formulation implies that costs will be lower in this multiproduct firm than...
Suppose a firm with cost structure c(y)= y2 + 2y +4 is the only producer of the good in the market. Market demand is given as y(p)= 40 - 2p What is the profit-maximizing quantity for this firm? Suppose a firm with cost structure c(y)= y + 2y + 4 is the only producer of the good in the market. Market demand is given as y(p)= 40 - 2p What price will the firm charge? Suppose a firm with cost...
5.* MBI and Pear are the only two producers of computers. MBI started producing earlier than Pear. MBI's costs of production are given by C1(/1) = y?. Pear's cost function is C2(y2) = The national demand for computers is y 106 - 105p (a) Calculate the Stackelberg equilibrium in which MBI is the leader in this market. Indicate output levels, market price, and the profits of each firm 5y2 (b) Suppose that both firms enter this market at the same...
(8 points) Suppose a monopolist is the only firm that supplies water for the city of Atlanta The firm faces a market demand curve given by Q- 33-P, where P is the price of water and Q is the market demand for water per day. (1 pt) Derive the monopolist's marginal revenue curve. (2 pts) Suppose the total cost of this firm is described by a. b. TC 0.50+30. What output level will the firm choose to maximize profits? What...
I am really stuck with this please help Thanks.
4. Suppose that a firm produces two different outputs, the quantities of which are repre- sented by yı and y2. In general, the firm's total costs can be represented by C(y1, y2). This function exhibits economies of scope if C(0,42) + C(4,0) > C(y1, y2) for all output levels of either good. 4.1 Explain in words why this mathematical formulation implies that costs will be lower in this multiproduct firm than...
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