Homework Answers
Profit maximising firms will increase their production
up to the point where marginal revenue which is the revenue earned
by increasing and additional unit of output becomes equal to
marginal cost which is the increase in the total cost by producing
an additional unit output.
Add Answer to:
Profit maximizing firms will increase production of their product up to the point where AVC =...
A firm's ATC, AVC, MR, and MC curves are shown in the graph below. Profit-Maximizing Point...
A firm's ATC, AVC, MR, and MC curves are shown in the graph below. Profit-Maximizing Point Profit-Maximizing Point Economic Profit (shaded region) 54+ 48 IMR Cost and revenues AVC HHHHHHHHHHHHHHHHHHHHO 044 Reset 8 12 16 20 24 28 32 36 40 44 48 Output a) Draw the short-run profit-maximizing point and the economic profit region. Select which item you want to draw from the drop-down menu at the top of the graph to draw that item. b) What is the...
all of them Question 1 (1 point) A firm producing a positive output level, covering variable...
all of them
Question 1 (1 point) A firm producing a positive output level, covering variable costs but making a loss in the short run O may nonetheless be doing the nest it can with respect to its profits O should exit the industry O should definitely shut down O is not maximizing profits O should either expand or contract its plant size Question 2 (1 point) The perfectly competitive firm's profits can be calculated as O (MR-ATC)Q O (P-AVC-AFC)Q....
Question 26 5 pts Price ATC MC AVC DD . m 0 Quantity Refer to the...
Question 26 5 pts Price ATC MC AVC DD . m 0 Quantity Refer to the diagram above. At the point markede, o price is determining production at a level where P = AVC o TR is exactly equal to TC, so profits equal zero. o price is above average cost of production. o the leftover rectangle is the profit earned. Question 28 4 pts The following figure shows the average cost curve, demand curve, and marginal revenue curve for...
II.A. Identify and label the profit-maximizing level of output (Q) that will be pursued by this...
II.A. Identify and label the profit-maximizing level of output (Q) that will be pursued by this 'monopolistic' firm. (5 Points) $$ MC ATC AVC Market Demand Output(Q) MR II.B. Draw and label the rectangle that represents the Total Revenue (TR) generated by this 'monopolistic' firm. (5 Points) $$ MC ATC AVC Market Demand -Output(Q) MR II.C. Draw and label the rectangles that represent Total Cost (TC), Total Fixed Cost (TFC) and Total Variable Cost (TVC) generated by this ‘monopolistic' firm....
At the profit-maximizing output, total fixed cost MC MR ATC b AVC hkn Output Multiple Choice...
At the profit-maximizing output, total fixed cost MC MR ATC b AVC hkn Output Multiple Choice is fgab. is Ogan. is ba Dollars Saved If a perfectly competitive firm is producing at the P MC output and realizing an economic profit, at that output Multiple Choice marginal revenue is less than price. marginal revenue exceeds ATC. ATC is being minimized. total revenue equals total cost. The average total cost curve for a perfectly competitive firm. Suppose the marginal cost curve...
MC ATC S AVC MR P 0 0 Q Refer to the diagrams, which pertain to...
MC ATC S AVC MR P 0 0 Q Refer to the diagrams, which pertain to a purely competitive firm producing output q and the industry in which it operates The predicted long run adjustments in this industry might be offset by a decline in product demand an increase in resource prices a technological improvement in production methods O entry of new firms into the industry O O O O P MC ATC D MR 0 Refer to the accompanying...
a-what is the firm's maximizing output? b-what is the firm's profit? c- if the price drops...
a-what is the firm's maximizing output?
b-what is the firm's profit?
c- if the price drops below ? this firm will shut down
MC ATC AVC P=150 D=MR 120 104 1500 2400 3200 4800 6000 7400
10. The monopoly firm's profit-maximizing price is: determined for the quantity of output at which MR...
10. The monopoly firm's profit-maximizing price is: determined for the quantity of output at which MR > MC by the greatest amount. given by the point on the ATC curve for the profit-maximizing quantity. given by the point on the demand curve for the profit-maximizing quantity. found where MR > MC at the monopolist's profit-maximizing quantity of output.
Price ATC MC AVC Qo DD Лuanth Refer to the diagram above. At the point marked m. O price is determining production...
Price ATC MC AVC Qo DD Лuanth Refer to the diagram above. At the point marked m. O price is determining production at a level where P = MC. TR is exactly equal to TC, so profits equal zero. O price is above average cost of production. e the leftover rectangle is the profit earned. mic_8_50.jpg Download attachment JPG 6 7 8 9 10
MC Cost and Revenue ATC MR AVC o '1'2'3'4'56'58' Quantity 10 a. (1 points) Using the...
MC Cost and Revenue ATC MR AVC o '1'2'3'4'56'58' Quantity 10 a. (1 points) Using the graph above, what is the profit maximizing or loss minimizing output and price? b. (1 point)Using the graph above, what is the profit or loss at the profit maximizing or loss minimizing point c. (1 point) What is the shutdown price and quantity?
A firm's ATC, AVC, MR, and MC curves are shown in the graph below. Profit-Maximizing Point Profit-Maximizing Point Economic Profit (shaded region) 54+ 48 IMR Cost and revenues AVC HHHHHHHHHHHHHHHHHHHHO 044 Reset 8 12 16 20 24 28 32 36 40 44 48 Output a) Draw the short-run profit-maximizing point and the economic profit region. Select which item you want to draw from the drop-down menu at the top of the graph to draw that item. b) What is the...
all of them
Question 1 (1 point) A firm producing a positive output level, covering variable costs but making a loss in the short run O may nonetheless be doing the nest it can with respect to its profits O should exit the industry O should definitely shut down O is not maximizing profits O should either expand or contract its plant size Question 2 (1 point) The perfectly competitive firm's profits can be calculated as O (MR-ATC)Q O (P-AVC-AFC)Q....
Question 26 5 pts Price ATC MC AVC DD . m 0 Quantity Refer to the diagram above. At the point markede, o price is determining production at a level where P = AVC o TR is exactly equal to TC, so profits equal zero. o price is above average cost of production. o the leftover rectangle is the profit earned. Question 28 4 pts The following figure shows the average cost curve, demand curve, and marginal revenue curve for...
II.A. Identify and label the profit-maximizing level of output (Q) that will be pursued by this 'monopolistic' firm. (5 Points) $$ MC ATC AVC Market Demand Output(Q) MR II.B. Draw and label the rectangle that represents the Total Revenue (TR) generated by this 'monopolistic' firm. (5 Points) $$ MC ATC AVC Market Demand -Output(Q) MR II.C. Draw and label the rectangles that represent Total Cost (TC), Total Fixed Cost (TFC) and Total Variable Cost (TVC) generated by this ‘monopolistic' firm....
At the profit-maximizing output, total fixed cost MC MR ATC b AVC hkn Output Multiple Choice is fgab. is Ogan. is ba Dollars Saved If a perfectly competitive firm is producing at the P MC output and realizing an economic profit, at that output Multiple Choice marginal revenue is less than price. marginal revenue exceeds ATC. ATC is being minimized. total revenue equals total cost. The average total cost curve for a perfectly competitive firm. Suppose the marginal cost curve...
MC ATC S AVC MR P 0 0 Q Refer to the diagrams, which pertain to a purely competitive firm producing output q and the industry in which it operates The predicted long run adjustments in this industry might be offset by a decline in product demand an increase in resource prices a technological improvement in production methods O entry of new firms into the industry O O O O P MC ATC D MR 0 Refer to the accompanying...
a-what is the firm's maximizing output?
b-what is the firm's profit?
c- if the price drops below ? this firm will shut down
MC ATC AVC P=150 D=MR 120 104 1500 2400 3200 4800 6000 7400
10. The monopoly firm's profit-maximizing price is: determined for the quantity of output at which MR > MC by the greatest amount. given by the point on the ATC curve for the profit-maximizing quantity. given by the point on the demand curve for the profit-maximizing quantity. found where MR > MC at the monopolist's profit-maximizing quantity of output.
Price ATC MC AVC Qo DD Лuanth Refer to the diagram above. At the point marked m. O price is determining production at a level where P = MC. TR is exactly equal to TC, so profits equal zero. O price is above average cost of production. e the leftover rectangle is the profit earned. mic_8_50.jpg Download attachment JPG 6 7 8 9 10
MC Cost and Revenue ATC MR AVC o '1'2'3'4'56'58' Quantity 10 a. (1 points) Using the graph above, what is the profit maximizing or loss minimizing output and price? b. (1 point)Using the graph above, what is the profit or loss at the profit maximizing or loss minimizing point c. (1 point) What is the shutdown price and quantity?
Most questions answered within 3 hours.
-
In c++
What does operator overloading allow us to do
?
Why must the << and...
asked 1 minute from now -
First, a constant force will NOT cause an object to accelerate
faster and faster; it will...
asked 3 minutes ago -
A 4.75 kg crate is suspended from the end of a short vertical
rope of negligible...
asked 13 minutes ago -
develop an automated invoice generator that helps a shop owner
to design their invoice. Problem 1...
asked 21 minutes ago -
2. Binomial Distribution Suppose I have an unfair coin, it lands
on heads 75% of the...
asked 35 minutes ago -
negotiators with absolutely no alternative to a negotiated
agreement sometimes.
a. become hostile and end the...
asked 33 minutes ago -
Write a Verilog program that tests whether a 4-bit input
variable is a Fibonacci number or...
asked 43 minutes ago -
MYSQL
Consider the sql statement "select * from t1 UNION t2" where t1
and t2 are...
asked 46 minutes ago -
2. A retailer sells 10,000 units at $10. Each unit costs the
retailer $7.00 to sell,...
asked 48 minutes ago -
If the Stratosphere elevator in Las Vegas is 500 m above the
ground when the cables...
asked 1 hour ago -
identify at least one other characteristics of the soils/sand
that may have impacted the growth of...
asked 1 hour ago -
True or False
The following statements refer to The Web of Belief
10. An explanation of...
asked 1 hour ago