Homework Answers
Answer
The firm produces at MC=P=MR
where
Q=8 units
P=10
ATC=8
Profit=(P-ATC)*Q
=(10-8)*2
=$16
the profit is $16
Option 1
$1 $0 0 1 2 3 7 9 10 S 6 Quantity of Hats The graph...
$1 $0 0 1 2 3 7 9 10 S 6 Quantity of Hats The graph above show information about costs and revenue for a small hat factory in a perfectly competitive market. How much profit does the hat factory make? $16 $8 $12 O $10 Previous Page Next Pace Page 13 of 34 Sub Que of 35 questions Question 13 (1 point) $14 $13 $12 MC $11 MR $10 $9 ATC Price of Hats $8 5 $7 AVC $6...
$20 $18 ATC MC $16 $14 $ $12 Cost of Sweatpants $10 $8 AVC $6 $4...
$20 $18 ATC MC $16 $14 $ $12 Cost of Sweatpants $10 $8 AVC $6 $4 $2. $0 7 Cost Curves Sweatpants Firm 1 2 10 O 3 4 5 6 7 8 9 Quantity of Sweatpants The above graph contains the average total cost, marginal cost, and average variable cost for a small firm that produces sweatpants. Assume the market for sweatpants is perfectly competitive and all sweatpants firms have the same costs. What is the long-run equilibrium price...
MC ATC Cost of Flashlights $12 $11 $10 $9 $8 $7 $6 $5 $4 $3 $2...
MC ATC Cost of Flashlights $12 $11 $10 $9 $8 $7 $6 $5 $4 $3 $2 $1 $0 0 1 AVC 2 3 4 5 6 7 8 9 10 Quantity of Flashlights The above graph shows the average total cost (ATC) marginal cost (MC) and average variable cost (AVC) for a flashlight producer. What is this producer's fixed costs? $7 $10 $13 $5 $
Question 26 (1 point) THI MC $12 $11 $10 $9 $8 $7 $6 ATC Cost of...
Question 26 (1 point) THI MC $12 $11 $10 $9 $8 $7 $6 ATC Cost of Flashlights AVC $3 $2 $1 $0 0 1 2 8 9 10 3 4 5 6 7 Quantity of Flashlights The above graph shows the average total cost (ATC) marginal cost (MC) and average variable cost (AVC) for a flashlight producer. What is this producer's fixed costs? The above graph shows the average total cost (ATC) marginal cost (MC) and average variable cost (AVC)...
Question 20 (1 point) $20 $18 $16 ATC MC $14 $12 Cost of Sweatpants $10 $8...
Question 20 (1 point) $20 $18 $16 ATC MC $14 $12 Cost of Sweatpants $10 $8 AVC $6 $4 $2 $0 0 1 2 8 9 10 3 4 5 6 7 Quantity of Sweatpants -F -F +- $0 + 0 1 + 2 3 4 5 6 7 Quantity of Sweatpants 8 9 10 The above graph contains the average total cost, marginal cost, and average variable cost for a small firm that produces sweatpants. Assume the market for...
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...
$ per unit MC ATC MR $40 AVC $20 2 4 6 8 10 12 Output (9) The graph above shows a firm's Marginal Revenue (MR), M...
$ per unit MC ATC MR $40 AVC $20 2 4 6 8 10 12 Output (9) The graph above shows a firm's Marginal Revenue (MR), Marginal Cost (MC), Average Total Cost (ATC) and Average Variable Cost (AVC). This firm is a profit-maximizing price taker. Find the firm's short run shutdown price. (Do not include a S sign in your response. Round to the nearest two decimal places if necessary.) Answer: Check
QUESTION 6 Price, ATC, AVC and MC (per unit) M P4 P P2 P 91 92...
QUESTION 6 Price, ATC, AVC and MC (per unit) M P4 P P2 P 91 92 93 94 Os Quantity (per period) Based on the graph above, what is the curve for the perfectly competitive market? O MC O AVC MR 0 0 O ATC
Quantity FC VC AFC AVC ATC MC [1] [2] [3] [4] [5] [6] [7] [8] [9]...
Quantity FC VC AFC AVC ATC MC [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] 30
Price TTTET OTTTTTTT ATC AVC 3 4 5 6 7 8 9 10 11 12 Quantity...
Price TTTET OTTTTTTT ATC AVC 3 4 5 6 7 8 9 10 11 12 Quantity What area in the graph above represents total economic profits for the firm? O MEWT Освет O DAFM ODABC
$1 $0 0 1 2 3 7 9 10 S 6 Quantity of Hats The graph above show information about costs and revenue for a small hat factory in a perfectly competitive market. How much profit does the hat factory make? $16 $8 $12 O $10 Previous Page Next Pace Page 13 of 34 Sub Que of 35 questions Question 13 (1 point) $14 $13 $12 MC $11 MR $10 $9 ATC Price of Hats $8 5 $7 AVC $6...
$20 $18 ATC MC $16 $14 $ $12 Cost of Sweatpants $10 $8 AVC $6 $4 $2. $0 7 Cost Curves Sweatpants Firm 1 2 10 O 3 4 5 6 7 8 9 Quantity of Sweatpants The above graph contains the average total cost, marginal cost, and average variable cost for a small firm that produces sweatpants. Assume the market for sweatpants is perfectly competitive and all sweatpants firms have the same costs. What is the long-run equilibrium price...
MC ATC Cost of Flashlights $12 $11 $10 $9 $8 $7 $6 $5 $4 $3 $2 $1 $0 0 1 AVC 2 3 4 5 6 7 8 9 10 Quantity of Flashlights The above graph shows the average total cost (ATC) marginal cost (MC) and average variable cost (AVC) for a flashlight producer. What is this producer's fixed costs? $7 $10 $13 $5 $
Question 26 (1 point) THI MC $12 $11 $10 $9 $8 $7 $6 ATC Cost of Flashlights AVC $3 $2 $1 $0 0 1 2 8 9 10 3 4 5 6 7 Quantity of Flashlights The above graph shows the average total cost (ATC) marginal cost (MC) and average variable cost (AVC) for a flashlight producer. What is this producer's fixed costs? The above graph shows the average total cost (ATC) marginal cost (MC) and average variable cost (AVC)...
Question 20 (1 point) $20 $18 $16 ATC MC $14 $12 Cost of Sweatpants $10 $8 AVC $6 $4 $2 $0 0 1 2 8 9 10 3 4 5 6 7 Quantity of Sweatpants -F -F +- $0 + 0 1 + 2 3 4 5 6 7 Quantity of Sweatpants 8 9 10 The above graph contains the average total cost, marginal cost, and average variable cost for a small firm that produces sweatpants. Assume the market for...
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...
$ per unit MC ATC MR $40 AVC $20 2 4 6 8 10 12 Output (9) The graph above shows a firm's Marginal Revenue (MR), Marginal Cost (MC), Average Total Cost (ATC) and Average Variable Cost (AVC). This firm is a profit-maximizing price taker. Find the firm's short run shutdown price. (Do not include a S sign in your response. Round to the nearest two decimal places if necessary.) Answer: Check
QUESTION 6 Price, ATC, AVC and MC (per unit) M P4 P P2 P 91 92 93 94 Os Quantity (per period) Based on the graph above, what is the curve for the perfectly competitive market? O MC O AVC MR 0 0 O ATC
Quantity FC VC AFC AVC ATC MC [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] 30
Price TTTET OTTTTTTT ATC AVC 3 4 5 6 7 8 9 10 11 12 Quantity What area in the graph above represents total economic profits for the firm? O MEWT Освет O DAFM ODABC
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