Homework Answers
At quantity D1 price is $5 . In second diagram we can see that at price $5 quantity is 10 .
Firm is earning negative profit as Marginal Cost start increasing after reaching low point .
So at D1 Price =$10 and earning negative profit .
Correct answer is A
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a The industry A representative firm MC a 9 9 ATC AVC 9 Price (5) Price...
Question 8 (Mandatory) (5 points) MC ATC AVC 13 MR Price 00 6 4 0 10...
Question 8 (Mandatory) (5 points) MC ATC AVC 13 MR Price 00 6 4 0 10 15 28 31 20 Quantity Reference: Ref 24-3 In the figure above, to maximize profits or minimize losses the firm should produce units. OA) 15 B) 20 C) 28 OD 10 Question 11 (Mandatory) (5 points) MC ATC AVC 13- MR Price 9 8 A 0 4 10 15 28 20 Quantity Reference: Ref 24-3 In the figure above, the firm A) could make...
1 Price The figure below captures a firm in a perfectly competitive industry. MC ATC AVC...
1 Price The figure below captures a firm in a perfectly competitive industry. MC ATC AVC ا أ ا 1 2 3 4 5 6 7 8 Quantity Suppose the current price is $6. What will happen in the long run? O Nothing will happen in the long run. The firm is earning zero economic profit. O Since the firm is earning a positive economic profit, there is an incentive for new firms to enter the industry in the long...
Refer to the figure above. In the $6-$7 price range, the firm will Group of answer choices a)shut down. b)earn a profit...
Refer to the figure above. In the $6-$7 price range, the firm
will
Group of answer choices
a)shut down.
b)earn a profit
c)break even
d)continue to operate, but at a loss
b. A representative firm a. The industry МС ATC S AVC 9 7 6 5 D2 DI 10 12 13 15 0 0 Bushels of wheat Bushels of wheat Price per bushel ($) We were unable to transcribe this image
The data in the table below are the monthly average variable costs (AVC), average total costs (ATC), and marginal costs (MC) for Alpacky, a typical alpaca wool-manufacturing firm in Peru
3) Perfect Competition (5 points) The data in the table below are the monthly average variable costs (AVC), average total costs (ATC), and marginal costs (MC) for Alpacky, a typical alpaca wool-manufacturing firm in Peru. The alpaca wool industry is competitive.For each market price given below, give the profit-maximizing output level and state whether Alpacky's profits are positive, negative, or zero. Also state whether Alpacky should produce or shut down in the short run. a. If the market price is $22... i. what...
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...
The firm will produce at a loss if price is: MC ATC AVC Price Q, Qazar...
The firm will produce at a loss if price is: MC ATC AVC Price Q, Qazar as Quantity
costs of producing Prod bushels AVC (dollars) ATC (dollars) MC (dollars) 0.80 е.00 1.00 248.00 85.00...
costs of producing Prod bushels AVC (dollars) ATC (dollars) MC (dollars) 0.80 е.00 1.00 248.00 85.00 63.33 55.00 51.00 0.00 20.80 e.00 4.86 7.50 48.00 56.00 65.00 75.00 44.80 54.80 Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to In front of those numbers a. If the market price is $56.00 per bushel of wheat, and All chooses to produce wheat, how much will he pr maxtmize his profits in the...
Introduction to Microeconomics Deriving the Short-Run Supply Curve for the Perfectly Competitive Firm MC ATC AVC...
Introduction to Microeconomics Deriving the Short-Run Supply Curve for the Perfectly Competitive Firm MC ATC AVC Cost ($) 0 10 20 30 40 50 60 70 80 90 100 110 Outputs units) The figure illustrates the costs faced by a perfectly competitive firm. Use the figure to answer the following: 1) If the market price is $20, how much will the firm produce in order to maximize its profits? 2) If the market price is $15, how much will the...
Suppose a firm operating in a competitive market has the following cost curves: Price MC ATC...
Suppose a firm operating in a competitive market has the following cost curves: Price MC ATC P7 プ , AVC P3 P2 . Q1 02 03 04 05 gaantity Refer to Figure 14-5. In the short run, if the market price is P2, indavidual firms in a competitive industry will eam positive profits. zero profits. losses but will remain in business. losses and will shut down e
In the short run, a perfectly competitive firm is producing where MR-MC. At this output, P>AVC...
In the short run, a perfectly competitive firm is producing where MR-MC. At this output, P>AVC and P>ATC. This firm A) is making positive economic profits B) is making zero economic profits C) is making negative economic profits but should continue to operate D) is making negative economic profits and should shut down.
Question 8 (Mandatory) (5 points) MC ATC AVC 13 MR Price 00 6 4 0 10 15 28 31 20 Quantity Reference: Ref 24-3 In the figure above, to maximize profits or minimize losses the firm should produce units. OA) 15 B) 20 C) 28 OD 10 Question 11 (Mandatory) (5 points) MC ATC AVC 13- MR Price 9 8 A 0 4 10 15 28 20 Quantity Reference: Ref 24-3 In the figure above, the firm A) could make...
1 Price The figure below captures a firm in a perfectly competitive industry. MC ATC AVC ا أ ا 1 2 3 4 5 6 7 8 Quantity Suppose the current price is $6. What will happen in the long run? O Nothing will happen in the long run. The firm is earning zero economic profit. O Since the firm is earning a positive economic profit, there is an incentive for new firms to enter the industry in the long...
Refer to the figure above. In the $6-$7 price range, the firm
will
Group of answer choices
a)shut down.
b)earn a profit
c)break even
d)continue to operate, but at a loss
b. A representative firm a. The industry МС ATC S AVC 9 7 6 5 D2 DI 10 12 13 15 0 0 Bushels of wheat Bushels of wheat Price per bushel ($) We were unable to transcribe this image
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...
The firm will produce at a loss if price is: MC ATC AVC Price Q, Qazar as Quantity
costs of producing Prod bushels AVC (dollars) ATC (dollars) MC (dollars) 0.80 е.00 1.00 248.00 85.00 63.33 55.00 51.00 0.00 20.80 e.00 4.86 7.50 48.00 56.00 65.00 75.00 44.80 54.80 Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to In front of those numbers a. If the market price is $56.00 per bushel of wheat, and All chooses to produce wheat, how much will he pr maxtmize his profits in the...
Introduction to Microeconomics Deriving the Short-Run Supply Curve for the Perfectly Competitive Firm MC ATC AVC Cost ($) 0 10 20 30 40 50 60 70 80 90 100 110 Outputs units) The figure illustrates the costs faced by a perfectly competitive firm. Use the figure to answer the following: 1) If the market price is $20, how much will the firm produce in order to maximize its profits? 2) If the market price is $15, how much will the...
Suppose a firm operating in a competitive market has the following cost curves: Price MC ATC P7 プ , AVC P3 P2 . Q1 02 03 04 05 gaantity Refer to Figure 14-5. In the short run, if the market price is P2, indavidual firms in a competitive industry will eam positive profits. zero profits. losses but will remain in business. losses and will shut down e
In the short run, a perfectly competitive firm is producing where MR-MC. At this output, P>AVC and P>ATC. This firm A) is making positive economic profits B) is making zero economic profits C) is making negative economic profits but should continue to operate D) is making negative economic profits and should shut down.
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