Consider the information in the above table. If this company produces at the profit maximizing/loss minimizing level of output, it will experience _____ and should _____.
| economic loss, shut down |
| economic profit, shut down |
| economic profit, continue doing business |
| zero economic profit, continue doing business |
| zero economic profit, shut down |
| economic loss, continue doing business |
Homework Answers
Request Answer!
We need at least 10 more requests to produce the answer.
0 / 10 have requested this problem solution
The more requests, the faster the answer.
Add Answer to:
Consider the information in the above table. If this company
produces at the profit maximizing/loss minimizing...
Consider the graph above. If this company produces at the profit maximizing/loss minimizing level of output,...
Consider the graph above. If this company produces at the profit
maximizing/loss minimizing level of output, it will experience
_____ and should _____.
economic profit, continue doing business
economic profit, shut down
zero economic profit, continue doing business
zero economic profit, shut down
economic loss, continue doing business
economic loss, shut down
$70 $65 $60 $55 $50 $45 $40 $35 $30 $25 $20 $15 $10 $5 ATC MiC AVC MR 0 1 2 3 4 5 6 7 8 9...
7. A profit maximizing firm in a competitive market produces replica toy cars. Suppose the market...
7. A profit maximizing firm in a competitive market produces replica toy cars. Suppose the market price for replica toy cars decreases to $12. At the profit maximizing (loss minimizing) quantity of 20,000 toy cars, the ATC is equal to $15 and the AFC is equal to $5. Given these conditions the (x) firm will experience losses of $60,000 since price is less than average total cost. (y) the firm will continue to produce 20,000 toy cars since it would...
2. A profit-maximizing business incurs an economic loss of S30,000 per month. Its fixed cost is...
2. A profit-maximizing business incurs an economic loss of S30,000 per month. Its fixed cost is S20,000 per month. a) Should this firm produce or shut down in the short run? Explain. Should it stay in the industry or exit in the long run? Explain. b) Suppose instead that this business has a fixed cost of S35,000 per month. Should it produce or shut down in the short run? Explain. Should it stay in the industry or exit in the...
Figure 1 7. Referring to Figure 1, if the market price was Ps, the profit- maximizing...
Figure 1 7. Referring to Figure 1, if the market price was Ps, the profit- maximizing (or loss-minimizing) firm will: A. shut down in the short run and incur a loss equal to area P PsAK B. produce output qs, resulting in total revenue equal to area 0PsEqs. total cost equal to area OPsEqs and zero economic profits produce output q, resulting in total revenue equal to area 0PsBq total cost equal to area OP:Fqs and economic profits equal to...
8. Refer to the graph above depicting a perfectly competitive firm. When maximizing profit, the total...
8. Refer to the graph above depicting a perfectly competitive firm. When maximizing profit, the total profit earned by the firm represented is: A. $220. B. $275. C. $330 D. $605, 26. Refer to the graph above of a monopolistically competitive firm. If the firm maximizes profit, it will earn: A. zero economic profit this year. B. $320,000 economic profit this year. C. 584,000 economic profit this year. D. $56,000 economic profit this year. ATC AVC - 01 02 03...
Answe r the next six questions on the basis of the information in Table 1 which...
Answe r the next six questions on the basis of the information in Table 1 which shows the short-run cost curves for a competitive firm. typical Table 1 4. QI ATC | AVC | AFC | MC S117.00 $17.00 $100.00 $17.00 Based on the information in Table I, which of the following represents the profit-maximizing, competitive firm's short-run supply curve? 2 66.00 600 50.00 15.00 3 48.33 15.0033.33 13.00 4 39.25 14.25 25.00 12.00 5 34.00 14.00 20.00 13.00 $50...
Normal 6) All of the following are possible characteristics of a monopoly except A) thene is...
Normal 6) All of the following are possible characteristics of a monopoly except A) thene is a single firm. B) the firm is a price taker C) the firm produces a unique product D) the existence of some advertising 7) Which of the following conditions holds for a monopolist, but not for a perfect competitor, at the profit-maximizing level of output? A) Price average revenue. B) Marginal revenue -marginal cost C) Price > marginal cost. D) Profit (AR-ATC) xQ Use...
Normal 6) All of the following are possible characteristics of a monopoly except A) thene is...
Normal 6) All of the following are possible characteristics of a monopoly except A) thene is a single firm. B) the firm is a price taker C) the firm produces a unique product D) the existence of some advertising 7) Which of the following conditions holds for a monopolist, but not for a perfect competitor, at the profit-maximizing level of output? A) Price average revenue. B) Marginal revenue -marginal cost C) Price > marginal cost. D) Profit (AR-ATC) xQ Use...
pleasw answer all questions! A profit-maximizing firm in a competitive market is currently producing 100 units...
pleasw answer all questions!
A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10, and its average total cost is $9. Does the firm have profits or losses? The firm has a loss of S100. The firm has a profit of $100. The firm has a loss of S200. The firm has a profit of $200 Figure 14-7 In the figure, panel (a) depicts the linear marginal cost of a...
4. Which of the following is NOT a true statement about market conditions for firms under...
4. Which of the following is NOT a true statement about market conditions for firms under perfect competition a. Each firm will produce as efficiently as possible b. Consumer surplus is maximized. c. Economic profits of firms will always be zero in the long run. d. Government intervention must move markets to equilibrium. c. Price - Long-Run Marginal Cost - min Long-Run Average Cost 5. In the market shown on the graph on the right ATC a. Mark profit maximizing...
Consider the graph above. If this company produces at the profit
maximizing/loss minimizing level of output, it will experience
_____ and should _____.
economic profit, continue doing business
economic profit, shut down
zero economic profit, continue doing business
zero economic profit, shut down
economic loss, continue doing business
economic loss, shut down
$70 $65 $60 $55 $50 $45 $40 $35 $30 $25 $20 $15 $10 $5 ATC MiC AVC MR 0 1 2 3 4 5 6 7 8 9...
2. A profit-maximizing business incurs an economic loss of S30,000 per month. Its fixed cost is S20,000 per month. a) Should this firm produce or shut down in the short run? Explain. Should it stay in the industry or exit in the long run? Explain. b) Suppose instead that this business has a fixed cost of S35,000 per month. Should it produce or shut down in the short run? Explain. Should it stay in the industry or exit in the...
Figure 1 7. Referring to Figure 1, if the market price was Ps, the profit- maximizing (or loss-minimizing) firm will: A. shut down in the short run and incur a loss equal to area P PsAK B. produce output qs, resulting in total revenue equal to area 0PsEqs. total cost equal to area OPsEqs and zero economic profits produce output q, resulting in total revenue equal to area 0PsBq total cost equal to area OP:Fqs and economic profits equal to...
8. Refer to the graph above depicting a perfectly competitive firm. When maximizing profit, the total profit earned by the firm represented is: A. $220. B. $275. C. $330 D. $605, 26. Refer to the graph above of a monopolistically competitive firm. If the firm maximizes profit, it will earn: A. zero economic profit this year. B. $320,000 economic profit this year. C. 584,000 economic profit this year. D. $56,000 economic profit this year. ATC AVC - 01 02 03...
Answe r the next six questions on the basis of the information in Table 1 which shows the short-run cost curves for a competitive firm. typical Table 1 4. QI ATC | AVC | AFC | MC S117.00 $17.00 $100.00 $17.00 Based on the information in Table I, which of the following represents the profit-maximizing, competitive firm's short-run supply curve? 2 66.00 600 50.00 15.00 3 48.33 15.0033.33 13.00 4 39.25 14.25 25.00 12.00 5 34.00 14.00 20.00 13.00 $50...
Normal 6) All of the following are possible characteristics of a monopoly except A) thene is a single firm. B) the firm is a price taker C) the firm produces a unique product D) the existence of some advertising 7) Which of the following conditions holds for a monopolist, but not for a perfect competitor, at the profit-maximizing level of output? A) Price average revenue. B) Marginal revenue -marginal cost C) Price > marginal cost. D) Profit (AR-ATC) xQ Use...
Normal 6) All of the following are possible characteristics of a monopoly except A) thene is a single firm. B) the firm is a price taker C) the firm produces a unique product D) the existence of some advertising 7) Which of the following conditions holds for a monopolist, but not for a perfect competitor, at the profit-maximizing level of output? A) Price average revenue. B) Marginal revenue -marginal cost C) Price > marginal cost. D) Profit (AR-ATC) xQ Use...
pleasw answer all questions!
A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10, and its average total cost is $9. Does the firm have profits or losses? The firm has a loss of S100. The firm has a profit of $100. The firm has a loss of S200. The firm has a profit of $200 Figure 14-7 In the figure, panel (a) depicts the linear marginal cost of a...
4. Which of the following is NOT a true statement about market conditions for firms under perfect competition a. Each firm will produce as efficiently as possible b. Consumer surplus is maximized. c. Economic profits of firms will always be zero in the long run. d. Government intervention must move markets to equilibrium. c. Price - Long-Run Marginal Cost - min Long-Run Average Cost 5. In the market shown on the graph on the right ATC a. Mark profit maximizing...
Most questions answered within 3 hours.
-
what is IoT? How is it being used today? How will it be used in
the...
asked 11 minutes ago -
Please answer the four questions below.
1. If you were going to test a method that...
asked 26 minutes ago -
Provide two or three examples of support he uses to reinforce
his arguments?
The Alienation of...
asked 33 minutes ago -
QUESTION 1
Why do we see terms with multiple names in the database
community?
Consistency is...
asked 28 minutes ago -
In a titration experiment, 11.5 mL of 0.400 M H2SO4 neutralized
48.0 mL of NaOH. What...
asked 33 minutes ago -
A shot-putter throws the shot with a horizontal velocity of 10
m/s and a
vertical velocity...
asked 48 minutes ago -
Mildred sells industrial-sized refrigeration units. Her
prospective buyer's face looks tense, and his forehead is wrinkled....
asked 50 minutes ago -
Clark Heter is an industrial engineer at Lyons Products. He
would like to determine whether there...
asked 1 hour ago -
3. Use a text editor to create a comma-delimited file of user
IDs and passwords. Revise...
asked 1 hour ago -
Jensen and Associates has a projected balance
sheet that includes the following accounts. What is the...
asked 1 hour ago -
implement a doubly-linked list in C. Each node in the linked list should contain a string,...
asked 1 hour ago -
What are some best practices and things to avoid when developing
a PowerPoint presentation or file
asked 1 hour ago