please draw three graphs 1. draw a long run equilibrium of Monopoly competitive firm 2. draw...
please draw three graphs
1. draw a long run equilibrium of Monopoly competitive firm
2. draw a short run condition of a firm making a profit
3. draw a short run condition of a firm making a loss
Homework Answers
1. In the long run the monopolistic competitive firm would be earning zero , profit , the average cost curve will be tangent to the demand curve. This is shown in the below graph
2. In the short run the may earn positive or negative economic profit depending upon the market situations, if the firm is earning a negative economic profit the average cost will be above the price and if it is earning an positive profit the average cost will be below the price.
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please draw three graphs
1. draw a long run equilibrium of Monopoly competitive firm
2. draw...
1. Draw two graphs. On the first, show the short-run profit maximizing output of an individual...
1. Draw two graphs. On the first, show the short-run profit maximizing output of an individual firm earning an economic profit, including MR, MC, AVC, and ATC. On the second, show the short-run market equilibrium price and quantity. Explain how the industry supply curve and the market equilibrium price and quantity are determined. 2. What is the relationship between the price on the two graphs? Why does this relationship exist? 3. Explain why a firm in a perfectly competitive industry...
2.A. Draw a perfectly competitive firm in the soybean market, in a short run equilibrium. Identify...
2.A. Draw a perfectly competitive firm in the soybean market, in a short run equilibrium. Identify the market price, MR, Total Revenue, Total Cost Variable Cost, and Fixed Cost. B. For your diagram(s), is the firm earning, a profit or a loss (identify it)? C. Explain, and show this market will move toward a long run equilibrium, state any needed assumptions.
1. A monopolistically competitive sneaker firm is currently in long run equilibrium. a. Graph the firm...
1. A monopolistically competitive sneaker firm is currently in long run equilibrium. a. Graph the firm in long run equilibrium. Be sure to label all of the curves and the profit-maximizing price and quantity. b. The price of rubber decreases. Rubber is a major component in the production of sneakers. Draw a new graph that shows the change in the profit maximizing price and quantity of sneakers. Be sure to shade the area of loss or profit. .
2. A perfectly competitive potato farm is currently in long run equilibrium. a. Graph the firm...
2. A perfectly competitive potato farm is currently in long run equilibrium. a. Graph the firm in long run equilibrium. Be sure to label all of the curves and the profit maximizing price and quantity. b. The demand for potatoes increases. Draw a new graph that shows the impact on an individual firm. Be sure to shade the area of loss or profit. c. Draw a new graph that shows how the firm and the industry adjusts to a new...
A monopolistically competitive sneaker firm is currently in long run equilibrium. Graph the firm in long...
A monopolistically competitive sneaker firm is currently in long run equilibrium. Graph the firm in long run equilibrium. Be sure to label all of the curves and the profit-maximizing price and quantity. The price of rubber decreases. Rubber is a major component in the production of sneakers. Draw a new graph that shows the change in the profit maximizing price and quantity of sneakers. Be sure to shade the area of loss or profit.
Suppose the apple market is competitive. a. State the long run equilibrium condition of a typical...
Suppose the apple market is competitive. a. State the long run equilibrium condition of a typical profit-maximizing firm operating in a competitive market. Express your answer using marginal cost and average cost. (2 marks) b. Assume the market for apple is now operating at her long run equilibrium. Draw side-by-side diagrams to show the long run equilibrium conditions for a typical apple farmer and the market for apples. Label your diagrams clearly. (6 marks) c. Recently, there is a fall...
Draw the MC, MR, ATC, and long-run ATC curves for a perfectly competitive firm in long-run...
Draw the MC, MR, ATC, and long-run ATC curves for a perfectly competitive firm in long-run equilibrium. Explain the relationship between those curves. Next, draw another graph showing long-run equilibrium for the perfectly competitive market. What is the relationship between the two graphs?
3. Suppose the market for rolled oats is perfectly competitive and is in a long-run equilibrium....
3. Suppose the market for rolled oats is perfectly competitive and is in a long-run equilibrium. For the following. be sure to carefully label your graphs and use subscripts as we have done in class! You can give your answers for each part on the same graphs. a. Draw the graphs below that illustrate the market and a representative firm in the initial long-run equilibrium (use the subscript 1 to denote each curve). What profits is the representative firm earning?...
Suppose the apple market is competitive. State the long run equilibrium condition of a typical profit-maximizing...
Suppose the apple market is competitive. State the long run equilibrium condition of a typical profit-maximizing firm operating in a competitive market. Express your answer using marginal cost and average cost. Assume the market for apple is now operating at her long run equilibrium. Draw side-by-side diagrams to show the long run equilibrium conditions for a typical apple farmer and the market for apples. Label your diagrams clearly. Recently, there is a fall in the price of fertilizers used for...
Code for the long run equilibrium o 10. In the short namin a t p timalt...
Code for the long run equilibrium o 10. In the short namin a t p timalt market willow 8. Condition for profit maximization of firms in a competitive market: 9. Condition for the long run equilibrium of a competitive market: 10. In the short run, a firm in a competitive market will close when 11. In the long run, a firm in a competitive market will close when 12. Condition for profit maximization of a monopolist:
3. Suppose the market for rolled oats is perfectly competitive and is in a long-run equilibrium. For the following. be sure to carefully label your graphs and use subscripts as we have done in class! You can give your answers for each part on the same graphs. a. Draw the graphs below that illustrate the market and a representative firm in the initial long-run equilibrium (use the subscript 1 to denote each curve). What profits is the representative firm earning?...
Code for the long run equilibrium o 10. In the short namin a t p timalt market willow 8. Condition for profit maximization of firms in a competitive market: 9. Condition for the long run equilibrium of a competitive market: 10. In the short run, a firm in a competitive market will close when 11. In the long run, a firm in a competitive market will close when 12. Condition for profit maximization of a monopolist:
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