Homework Answers
a) Supply of boxes will decrease and the supply curve will shift upward to the left because as price of input used in the production of boxes increase, cost of production of boxes increase, and thus its supply decreases.
b) Equilibrium prices of boxes will increase due to decrease in supply.
c) Equilibrium quantity of boxes will decrease due to decrease in supply.
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Suppose you are hired as a consultant for a firm that produces cardboard boxes. The firm...
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cardboard boxes are produced in a perfectly competitive market. each identical firm has a short run...
cardboard boxes are produced in a perfectly
competitive market. each identical firm has a short run total cost
curve of TC= 3Q^3 - 12Q^2 +16Q + 100, where Q is measured in
thousands of boxes per week. calculate the output for the price
below which a firm in the market will not produce any output in the
short run. ( i.e., the output for the shut down price)
a 2^1/2
b. 2
c. 1/2
d. 1/square root of 2
2)...
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Hello, I had already solve this questions with the best of my knowdlege. Please let me...
Hello, I had already solve this questions with the best of my
knowdlege. Please let me know if they are correct. Thanks.
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cardboard boxes are produced in a perfectly
competitive market. each identical firm has a short run total cost
curve of TC= 3Q^3 - 12Q^2 +16Q + 100, where Q is measured in
thousands of boxes per week. calculate the output for the price
below which a firm in the market will not produce any output in the
short run. ( i.e., the output for the shut down price)
a 2^1/2
b. 2
c. 1/2
d. 1/square root of 2
2)...
You have been hired as a consultant for the following monopoly firms. Treat each firm as an individual. Thus each row represents one fim. You will need to use the MR =MC rules to make the recommendations to the firms. You will be using logic and critical thinking skills to make the suggestions Examine the information on MR, MC, Price, ATC, AVC and AFC to make a recommendation to each firm Remember firms want to max their total profits, they...
Hello, I had already solve this questions with the best of my
knowdlege. Please let me know if they are correct. Thanks.
3. Under what circumstances does the burden of an excise tax fall mainly on producers? when the supply is relatively inelastic and demand is fairly elastic b. when the supply is relatively elastic and demand is fairly inelastic c. when consumers do not have many substitutes for the good d. when it is easy for suppliers to expand...
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