When price= 32
Following is the completed table:
Price = 41
Price = 56
Table 3 Again, it's a new price so only the Total Revenue, Marginal Revenue, and Profit/Loss...
I am lost. How would i do these? please show how you got the answer. Perfect Competition Waldhet This is a combination of chapter 7 and 8 which includes the free possible market outcomes that were presented in the textbook. Complete the following worksheets and answer the questions Fach sheet Pives you the Price above the table and a complete Total Cost com Given that information you should be able to fill in the rest of the worksheet. You may...
Fill out the table, answer questions at the end. Avg Total Cost Total Marginal Marginal Revenue Revenue Cost Perfect Competition Price of output: $10 Fixed costs: $200 Avg Variable Fixed Total Variable Avg Fixed Output Cost Cost Cost Cost Cost $0 10 $50 $250 $20.00 20 $90 $4.50 30 $160 $360 $5.33 $6.67 $225 $300 $500 $6.00 $4.00 $395 70 $510 $710 $7.29 $2.86 80 $640 $8.00 1. What is the profit-maximizing level of output? 2. What are profits at...
QUESTION 3 Marginal Revenue ($) Marginal Cost (5) Revenue (5) Table: Profit-Maximizing Monopolist Price Quantity Total Average ($) (Units) Cost ($) Cost ($) 11 6 17 10 7 19 9 8 21 8 9 23 17 10 25 Reference: Ref 13-2 (Table: Profit-Maximizing Monopolist) Refer to the table. The profit-maximizing quantity for this monopolist is units O A7 OB.9 OC. 10 D.8
QUESTION 1 Marginal Revenue ($) Marginal Cost ($) Revenue ($) Table: Profit-Maximizing Monopolist Price Quantity Total Average ($) (Units) Cost ($) Cost ($) 11 17 10 19 9 8 21 8 9 23 7 10 25 7 Reference: Ref 13-2 to the table. When this monopolist sells 8 units, its average cost and marginal cost levels are: (Table: Profit-Maximizing Monopolist) A. $2.56 and $2 respectively. B. $2.63 and $2 respectively. C. $2.56 and 54 respectively. OD. $2.63 and 54 respectively.
Table 2 Units of Labor Total Product Imperfect Competition Marginal Marginal Product Total Revenue Product Price Revenue Product IIIIIII ||| 3. How many workers will the firm hire if the market wage rate is $27.95? 4. How many workers will the firm hire if the market wage rate is $19.95? 5. Compare the hiring practices of the firm under Pure Competition and Imperfect Competition. In which situation is the demand for labor more elastic?
The table below shows the costs and demand for the clove oil industry. Total Revenue Marginal Revenue Marginal Cost Total Cost Total Profit/Loss Quantity Price 136 162 190 a. Complete the table above. b. If this industry was perfectly competitive, what would be the output, price, and total industry profit/loss? Output: Price: $0 Profit/loss: $ c. If this industry was a monopoly industry, what would be the output, price, and total industry profit/loss? Output: O Price: $0 Profit/loss: $0
Price Quantity Total Revenue Marginal Revenue Total Cost Marginal Cost RU 91 96 Suppose the local government imposes a $26 per month tax on cable companies. What will Comcast do? (Assume fixed costs equal $15.) A Comcast should produce 6 units in the short run and shut down in the long run O B. Comcast should shut down in the short run and in the long run. OC Comcast should shut down in the short run and produce 6 units...
Please provide your answers and explanations. (No handwriting pls because it is so difficult to read..) Thank you in advance. Assignment 6-Q1 SMC ATC Answer the following questions using the cost curves for a firm under perfect competition shown in the figure. 1. How do you draw a marginal revenue curve when the price of good is given at $3.0? 2. How many units should the firm produce? At the production level in 1 above, how much is average total...
two price-taking firms compete by setting quantities of output, then Select one: O a marginal revenue is the same as the market price. b. social surplus will be maximized. O c. the market price will be climater than marginal cost. Od they will produce the same amount of output as in perfect competition. If a firm sells its output on a market that is characterized by many sellers and buyers, a differentiated product, and unlimited long run resource mobility, then...
Labor (No. of Total Product (Cavan) Marginal Product (Cavan) Average Product (Cavan) Total Fixed Cost (P) Total Variable Cost (P) Total Cost (P) Marginal Cost (P) Total Revenue (P) Total Profit Average Cost (P) Marginal Revenue (P) Average Revenue (P) (P) 88 88 16,000.00 200.00 44,000.00 500.00 40,000.00 72,000.00 450.00 500.00 8,000.00 216 72 48,000.00 333.33 108,000.00 500.00 40,000.00 104,000.00 406.25 500.00 24,000.00 5 280 80,000.00 1,000.00 140,000.00 500.00 40,000.00 136,000.00 472.22 500.00 8,000.00 Assumptions: 1. Total Product (TP or...