Homework Answers
A - Firm profit
= TR - TC
TR = 50*20
= 1000
TC = 35*20
= 700
Profit = 1000-700
= $ 300
B - Option. D
Producers
When the demand is more elastic than supply , the more burden of tax is borne by producer so as to prevent the demand from falling because of its elastic nature. The government does not bear the burden. If consumers bear , the demand may fall. Hence Option D will be correct
Add Answer to:
What is this firm's profit? P, MC, AC MC ATC P=50 35 25 9 99-20 I...
What is this firm's profit? P, MC, AC MC ATC P=50 35 25 9 qº=20
What is this firm's profit? P, MC, AC MC ATC P=50 35 25 9 qº=20
What is this firm's profit? P, MC, AC MC ATC P=100 25 20-- 9 q*=30
What is this firm's profit? P, MC, AC MC ATC P=100 25 20-- 9 q*=30
ATC Price (Per Unit) Price (Per Unit) D3 D2 91 92 93 94 Quantity (Units per...
ATC Price (Per Unit) Price (Per Unit) D3 D2 91 92 93 94 Quantity (Units per week) Quantity (Units per week) (b) (a) Figure 23.3 In Figure 23.3, diagram "a" presents the cost curves that are relevant to a firm's production decision, and diagram "b" shows the market demand and supply curves for the market. Use both diagrams to answer the following question: In Figure 23.3, at a price of p1 in the long run o Firms will enter the...
Price and DON MC ATC AVC 24 P, PA P o, 9,99 99 Quantity Figure 12-9...
Price and DON MC ATC AVC 24 P, PA P o, 9,99 99 Quantity Figure 12-9 shows cost and demand curves facing proteximit perfectly competitive Refer to Figure 12-9. Identify the short shutdown point for the . Od
50 A MC The accompanying graph depicts average total cost (ATC), marginal cost (MC), marginal revenue...
50 A MC The accompanying graph depicts average total cost (ATC), marginal cost (MC), marginal revenue (M), and demand (D) facing a monopolistically competitive firm. Place point A at the firm's profit maximizing price and quantity. What is the firm's total cost? 45 40 35 30 ATC Price and Cost ($) 25 total cost: $ 20 D 15 10 What is the firm's total revenue? 5 MR 0 total revenue: $ 0 5 10 15 20 25 30 35 40...
Labor TVC TC MC AFC AVC ATC 25 50 75 100 25 125 (a) Complete...
Labor TVC TC MC AFC AVC ATC 25 50 75 100 25 125 (a) Complete the blank columns (5 points). Please create a table like mine and fill it. (b) Assume the price of this product equals $10. What's the profit-maximizing output (q)? (3 points). Note: managers maximize profits by setting MR=MC and under perfectly competitive markets, MR=Price. Thus, maximize profit by producing a where P=MC.(2 points) (c) What is the profit? (3 points) TOTAL COST (TC) - the...
P $70 $65 $60 $55 $50 ATC $45 $40 $35 AVC MR $30 $25 $20 $15...
P $70 $65 $60 $55 $50 ATC $45 $40 $35 AVC MR $30 $25 $20 $15 $10 $5 01234 56789 10 11 12 13 14 Based on the graph above, what is the profit maximizing price? o $45 $25 $5 S40 O $20 $10 $70 $50 S60 $65 S55 SI5 S30 $35
5 10 15 20 25 35 40 45 50 55 60 65 70 Refer to Figure...
5 10 15 20 25 35 40 45 50 55 60 65 70 Refer to Figure 6-22. The price paid by buyers after the tax is imposed is a $3.50 Ob. 55.00 c. $3.00 d. 56.00 The discovery of a new hybrid wheat would increase the supply of wheat. As a result, wheat farmers would realize an increase in total revenue if the a. supply of wheat is inelastic. b. demand for wheat is inelastic. c demand for wheat is...
Suppose the supply cf a good is given by the equation QS 50P -50, and the...
Suppose the supply cf a good is given by the equation QS 50P -50, and the demand for the good is given by the equation oD - 175 -25P, where quantity (Q) Is measured in milions of units and price (P) is measured in dolars per unt. The government decides to levy an excise tax of $3.00 per unit on the good, to be paid by the seller. Calculate the value of each of the following, before the tax and...
Figure 8-13 Supply 5 10 15 20 25 Desind 30 35 40 45 50 55 60...
Figure 8-13 Supply 5 10 15 20 25 Desind 30 35 40 45 50 55 60 B Refer to Figure 8-13. Suppose the government places a $5 per-unit tax on this good. The amount of tax revenue collected by the government is $120. $30. $50. $80.
What is this firm's profit? P, MC, AC MC ATC P=50 35 25 9 qº=20
What is this firm's profit? P, MC, AC MC ATC P=100 25 20-- 9 q*=30
ATC Price (Per Unit) Price (Per Unit) D3 D2 91 92 93 94 Quantity (Units per week) Quantity (Units per week) (b) (a) Figure 23.3 In Figure 23.3, diagram "a" presents the cost curves that are relevant to a firm's production decision, and diagram "b" shows the market demand and supply curves for the market. Use both diagrams to answer the following question: In Figure 23.3, at a price of p1 in the long run o Firms will enter the...
Price and DON MC ATC AVC 24 P, PA P o, 9,99 99 Quantity Figure 12-9 shows cost and demand curves facing proteximit perfectly competitive Refer to Figure 12-9. Identify the short shutdown point for the . Od
50 A MC The accompanying graph depicts average total cost (ATC), marginal cost (MC), marginal revenue (M), and demand (D) facing a monopolistically competitive firm. Place point A at the firm's profit maximizing price and quantity. What is the firm's total cost? 45 40 35 30 ATC Price and Cost ($) 25 total cost: $ 20 D 15 10 What is the firm's total revenue? 5 MR 0 total revenue: $ 0 5 10 15 20 25 30 35 40...
Labor TVC TC MC AFC AVC ATC 25 50 75 100 25 125 (a) Complete the blank columns (5 points). Please create a table like mine and fill it. (b) Assume the price of this product equals $10. What's the profit-maximizing output (q)? (3 points). Note: managers maximize profits by setting MR=MC and under perfectly competitive markets, MR=Price. Thus, maximize profit by producing a where P=MC.(2 points) (c) What is the profit? (3 points) TOTAL COST (TC) - the...
P $70 $65 $60 $55 $50 ATC $45 $40 $35 AVC MR $30 $25 $20 $15 $10 $5 01234 56789 10 11 12 13 14 Based on the graph above, what is the profit maximizing price? o $45 $25 $5 S40 O $20 $10 $70 $50 S60 $65 S55 SI5 S30 $35
5 10 15 20 25 35 40 45 50 55 60 65 70 Refer to Figure 6-22. The price paid by buyers after the tax is imposed is a $3.50 Ob. 55.00 c. $3.00 d. 56.00 The discovery of a new hybrid wheat would increase the supply of wheat. As a result, wheat farmers would realize an increase in total revenue if the a. supply of wheat is inelastic. b. demand for wheat is inelastic. c demand for wheat is...
Suppose the supply cf a good is given by the equation QS 50P -50, and the demand for the good is given by the equation oD - 175 -25P, where quantity (Q) Is measured in milions of units and price (P) is measured in dolars per unt. The government decides to levy an excise tax of $3.00 per unit on the good, to be paid by the seller. Calculate the value of each of the following, before the tax and...
Figure 8-13 Supply 5 10 15 20 25 Desind 30 35 40 45 50 55 60 B Refer to Figure 8-13. Suppose the government places a $5 per-unit tax on this good. The amount of tax revenue collected by the government is $120. $30. $50. $80.
Most questions answered within 3 hours.
-
A smoke detector system uses two devices, A and B. If smoke is
present, the probability...
asked 19 seconds from now -
The fact that there are high cache miss rates for programs with
binary executables of 100s...
asked 58 seconds ago -
ACME manufacturing is a low-cost producer of a single, commodity
product: RGL-01. Standard overhead cost information...
asked 2 minutes ago -
answer the below qestion in term of marketing in “personal
selling steps”
( Question )
Consider...
asked 22 minutes ago -
Why
are large,multinational firms more likely to be concerned about
CSR?Why are lifestyle brands more susceptible...
asked 22 minutes ago -
Under normal use conditions, the Mean Time To Failure of a
heating coil can be modeled...
asked 24 minutes ago -
A student holds a ruler by one end (x=0 where the student holds
it). The student...
asked 24 minutes ago -
People are most likely to believe their ancestors play an active
role in their lives in...
asked 24 minutes ago -
A speeding car is traveling along a straight road with a
constant speed of 100 km/hour....
asked 42 minutes ago -
When 60.1 gg of calcium is reacted with nitrogen gas, 31.7 gg of
calcium nitride is...
asked 47 minutes ago -
The random variable X is exponentially distributed, where X
represents the time it takes for a...
asked 1 hour ago -
a) Write a verilog module for 1:4 Demultiplexer using verilog
primitives.
b) Design 1-to-4 DEMUX using...
asked 56 minutes ago