Homework Answers
C. lost revenues associated with the price effect are outweighed by the revenue gains created by the output effect.
(Price effect cause revenue loss and output effect cause revenue gain but when MR is positive then lost revenues are lesser than the revenue gained.)
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I dont get why the answer is A and not E?? 1. When marginal revenue is negative, the: A) lost revenues associated with...
I dont get why the answer is A and not E??
1. When marginal revenue is negative, the: A) lost revenues associated with the price effect outweigh the revenue by the output effect. B) lost revenues associated with the price effect are outweighed by the revenue gains created by the output effect. C) output effect is negative. D) firm is maximising E) firm cannot be maximising profits. gains created revenues
1. When marginal revenue is negative, the: A) lost revenues...
need help with all of them Question 6 (1 point) In perfect competition, marginal revenue is the change in revenue from...
need help with all of them
Question 6 (1 point) In perfect competition, marginal revenue is the change in revenue from selling an additional unit of output the revenue in excess of what can be earned in the next-best alternative the last dollar needed to make zero economic profit the extra revenue generated by a $1 change in price the last dollar needed to make maximum profit Question 7 (1 point) In which of the following situations should a profit-maximizing...
Please explain in details with step-by-step solution, Thank you very much b) Evren wants to go...
Please explain in details with step-by-step solution, Thank you
very much
b) Evren wants to go into the donut business. For $500 per month he can rent a bakery complete with all the equipment he needs to make a dozen different kinds of donuts (K-1, r-500). He must pay unionized donut bakers a monthly salary of $400 each. He projects his monthly production function to be Q 5KL, where Q is tons of donuts. i) With the current level of...
Question Completion Status: QUESTION 38 Marginal cost equals total cost divided by the quantity of output produced...
Question Completion Status: QUESTION 38 Marginal cost equals total cost divided by the quantity of output produced total output divided by the change in total cost the slope of the total cost curve the slope of the line drawn from the origin to the total cost curve QUESTION 39 wa firm produces nothing which of the following costs will be zero? - total cost faxed cost opportunity cost variable cost QUESTION 40 A production function is a relationship between Inputs...
SHOW EXCEL FORMULAS Problem Instructions Description: oblem, you will calculate the costs and profits in two...
SHOW EXCEL FORMULAS
Problem Instructions Description: oblem, you will calculate the costs and profits in two different situations with a specific tax and without it. Also, you will determine whe Perform: Instructions 1 Start Excel 2 In cell D16, by using relative and absolute cell references, calculate the price for the output in cell C16. Copy the formula from cell D 3 In cell E16, by using cell references, calculate the price elasticity of demand for the output in cell...
Answer the next question(s) on the basis of the following demand and cost data for a specific firm
Answer the next question(s) on the basis of the following demand and cost data for a specific firmDemand DataCost Data(1)Price(2) Price(3)PriceTotal OutputTotal Cost$50$3522$454530335540254470352055903015661162510771452058818059. Refer to the above data. If columns 1 and 3 are this firm's demand schedule, the profit-maximizing price will be:A. $30B. $35C. $40D. $4560. Which is true of pure competition but not of monopolistic competition?A. There are barriers to entryB. Long-run economic profits are zeroC. There are a large number of firms in the marketD. Long-run equilibrium...
1.) What is the main difference between a competitive firm and a monopoly? a. A competitive...
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Question 12 2 pts Suppose you pay $10 to watch a movie at the local Cineplex...
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Please do all seven thank you!! Question 2 Inconect The problems of high prices, inefficient production...
Please do all seven thank you!!
Question 2 Inconect The problems of high prices, inefficient production inefficient allocation of resources, and lack of change/innovation are most likely to occur in what market structure? . 0.00 points out of 100 Select one a monopoly Pflag question b. none of the above this combination of problems cannot happen together in one market structure c oligopoly d. monopolistic competition e. perfect competition on 3 incorrect If there are significant barriers to entry, then...
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I dont get why the answer is A and not E??
1. When marginal revenue is negative, the: A) lost revenues associated with the price effect outweigh the revenue by the output effect. B) lost revenues associated with the price effect are outweighed by the revenue gains created by the output effect. C) output effect is negative. D) firm is maximising E) firm cannot be maximising profits. gains created revenues
1. When marginal revenue is negative, the: A) lost revenues...
need help with all of them
Question 6 (1 point) In perfect competition, marginal revenue is the change in revenue from selling an additional unit of output the revenue in excess of what can be earned in the next-best alternative the last dollar needed to make zero economic profit the extra revenue generated by a $1 change in price the last dollar needed to make maximum profit Question 7 (1 point) In which of the following situations should a profit-maximizing...
Please explain in details with step-by-step solution, Thank you
very much
b) Evren wants to go into the donut business. For $500 per month he can rent a bakery complete with all the equipment he needs to make a dozen different kinds of donuts (K-1, r-500). He must pay unionized donut bakers a monthly salary of $400 each. He projects his monthly production function to be Q 5KL, where Q is tons of donuts. i) With the current level of...
Question Completion Status: QUESTION 38 Marginal cost equals total cost divided by the quantity of output produced total output divided by the change in total cost the slope of the total cost curve the slope of the line drawn from the origin to the total cost curve QUESTION 39 wa firm produces nothing which of the following costs will be zero? - total cost faxed cost opportunity cost variable cost QUESTION 40 A production function is a relationship between Inputs...
SHOW EXCEL FORMULAS
Problem Instructions Description: oblem, you will calculate the costs and profits in two different situations with a specific tax and without it. Also, you will determine whe Perform: Instructions 1 Start Excel 2 In cell D16, by using relative and absolute cell references, calculate the price for the output in cell C16. Copy the formula from cell D 3 In cell E16, by using cell references, calculate the price elasticity of demand for the output in cell...
Question 12 2 pts Suppose you pay $10 to watch a movie at the local Cineplex and afterward you sneak into the next theater to watch a second movie without paying. What is your marginal cost of watching the second movie? $15 $5 $10 $0 Below shows cost and revenue curves for a competitive firm named Eli's Eggplants. Use the graph to answer the questions that follow. 20 2 18 16 14 12 10 Price cost of bushel) 8 2...
Please do all seven thank you!!
Question 2 Inconect The problems of high prices, inefficient production inefficient allocation of resources, and lack of change/innovation are most likely to occur in what market structure? . 0.00 points out of 100 Select one a monopoly Pflag question b. none of the above this combination of problems cannot happen together in one market structure c oligopoly d. monopolistic competition e. perfect competition on 3 incorrect If there are significant barriers to entry, then...
Worksheet on Perfect Competition Welcome to Acme Widgets. The Acme Company manufactures widgets and competes in a Perfectly Competitive market structure. In fact, all widgets are the same, regardless of who made them. The widget industry is huge, with many firms, and Acme, like all the other firms can sell all it wants without affecting the market price. The following table represents the current short-run revenue, costs, and profits for Acme or copy the data into a spreadsheet INSTRUCTIONS: You...
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