Homework Answers
Total Revenue of the firm shown above = 40 x 620 = 24,800.
Total cost of the firm = 28 x 620 = 17,360
= Total profit = 24,800 - 17,360 = 7440
The profit earned by the firm in the market is 7440.
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Price 620 20 105°Quantity Carefully following all numeric instructions, calculate the firm's total profits or losses....
Consider this monopoly: Р IV 98 72 67 66 38 III Q 440 620 Carefully following...
Consider this monopoly: Р IV 98 72 67 66 38 III Q 440 620 Carefully following all numeric directions, calculate the firm's profits or losses. Use a positive number (no sign) to indicate profits and a negative number (with negative sign) to indicate losses.
After the government successfully intervenes, what will be the firm's total revenue? Carefully follow all numeric...
After the government successfully intervenes, what will be the
firm's total revenue? Carefully follow all numeric
instructions.
50- 461 X ---- - 401 -7-- 1 - - -- 120 150 Quantity After the government successfully intervenes, what will be the firm's total revenue? Carefully follow all numeric instructions.
With no government intervention, what price will the firm charge? Carefully follow all numeric instructions; enter...
With no government intervention, what price will the firm
charge? Carefully follow all numeric instructions; enter only a
number.
* --T- -- 120 150 Quantity With no government intervention, what price will the firm charge? Carefully follow all numeris instructions: enter only a number 50
For each price in the following table, calculate the firm's optimal quantity of units to produce,...
For each price in the
following table, calculate the firm's optimal quantity of units to
produce, and determine the profit or loss if it produces at that
quantity, using the data from the previous graph to identify its
total variable cost. Assume that if the firm is indifferent between
producing and shutting down, it will produce.
(Hint: You can select the purple points [diamond
symbols] on the previous graph to see precise information on
average variable cost.)
If the firm...
If possible, calculate total profits given a price of $50, an average total cost of $20,...
If possible, calculate total profits given a price of $50, an average total cost of $20, and an output of 5.
Refer to the following graph: 00 Market demand v PRICE OR COST (dollars per unit) -...
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Given the following information about a competitive firm's costs, calculate marginal cost and answer four questions....
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The graph below shows the marginal, average variable, and average total cost curves for a pizza...
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PLEASE READ VERY CAREFULLY!!!!!!!!! ANSWERS MUST BE CLEAR TO READ!!!! SHOW ALL CUALTIONS!! 2. Understanding the...
PLEASE READ VERY CAREFULLY!!!!!!!!! ANSWERS MUST BE CLEAR TO
READ!!!! SHOW ALL CUALTIONS!!
2. Understanding the role of fixed cost in the short run Aa Aa Consider an airline's decision about whether or not to cancel a particular flight that hasn't sold out. The following table provides data on the total cost of operating a 100-seat plane for various numbers of passengers Number of Total Cost (TC) 25,000 35,000 40,000 43,000 45,000 46,000 47,000 47,700 48,000 48,200 48,100 Passengers 10...
Consider this monopoly: Р IV 98 72 67 66 38 III Q 440 620 Carefully following all numeric directions, calculate the firm's profits or losses. Use a positive number (no sign) to indicate profits and a negative number (with negative sign) to indicate losses.
After the government successfully intervenes, what will be the
firm's total revenue? Carefully follow all numeric
instructions.
50- 461 X ---- - 401 -7-- 1 - - -- 120 150 Quantity After the government successfully intervenes, what will be the firm's total revenue? Carefully follow all numeric instructions.
With no government intervention, what price will the firm
charge? Carefully follow all numeric instructions; enter only a
number.
* --T- -- 120 150 Quantity With no government intervention, what price will the firm charge? Carefully follow all numeris instructions: enter only a number 50
For each price in the
following table, calculate the firm's optimal quantity of units to
produce, and determine the profit or loss if it produces at that
quantity, using the data from the previous graph to identify its
total variable cost. Assume that if the firm is indifferent between
producing and shutting down, it will produce.
(Hint: You can select the purple points [diamond
symbols] on the previous graph to see precise information on
average variable cost.)
If the firm...
Refer to the following graph: 00 Market demand v PRICE OR COST (dollars per unit) - Nw Au Average total cost Marginal cost 0 10 20 30 40 50 60 70 80 90 100 110 120 130 Marginal revenue QUANTITY (units per period) Identity output and price and calculate profits for: Instructions: Enter your responses for output and profits as a whole number. Round your responses for price to two decimal places. If you are entering any negative numbers be...
Suppose the following table relects the total satisfaction derived from eating slices of para calculate the marginality of each sice of pizza and answer two questions about marginal unity a What is the marginality of each sice of peza? Instructions: Complete each of the seven yelow cells below. Enter your responses as a whole number indicate negative responses with a negative sign Total Marginal Utility Quantity Consumed No slices Ft 47 Second shoe The 122 135 137 120 70 Margatestes...
Given the following information about a competitive firm's costs, calculate marginal cost and answer four questions. Instructions: Enter your responses as whole numbers. Indicate negative responses with a (-) negative sign. Marginal Cost Output (units) Total Cost 10 $50 11 52 2 12 56 4 13 62 $ 14 70 15 80 10 $ 16 92 12 106 17 14 $ 18 122 16 $ 19 140 18 a. If the prevailing market price is $12 per unit how much...
The graph below shows the marginal, average variable, and average total cost curves for a pizza seller. Refer to the graph to answer the following questions. Instructions: Indicate the profit-maximizing level of output. Enter your response as a whole number. Cost Curves 3.50 3.25 3.00 2.75 Select Select Select 2.50 (S/slice) 2.00 W 1.75 1.50 1.25 1.00 0.75 0.50 0.25 100 200 300 400 500 600 700 800 900 Q -> Quantity (slices/day) a. What is the amount of the...
PLEASE READ VERY CAREFULLY!!!!!!!!! ANSWERS MUST BE CLEAR TO
READ!!!! SHOW ALL CUALTIONS!!
2. Understanding the role of fixed cost in the short run Aa Aa Consider an airline's decision about whether or not to cancel a particular flight that hasn't sold out. The following table provides data on the total cost of operating a 100-seat plane for various numbers of passengers Number of Total Cost (TC) 25,000 35,000 40,000 43,000 45,000 46,000 47,000 47,700 48,000 48,200 48,100 Passengers 10...
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