Homework Answers
Add Answer to:
A firm's ATC, AVC, MR, and MC curves are shown in the graph below. Profit-Maximizing Point...
A firm's ATC, AVC, and MC curves are shown in the graph below. Break-even Point ATe...
A firm's ATC, AVC, and MC curves are shown in the graph below. Break-even Point ATe 42- AVC 36- 30+ 24- 18- MC 12- 6+ 12 16 20 24 28 32 36 40 44 48 Reset Quantity supplied a) Plot the break-even (normal profit) point and the horizontal price line that corresponds to the break-even point. Select which item you want to draw from the drop-down menu at the top of the graph to draw that item. b) Plot the...
At the profit-maximizing output, total fixed cost MC MR ATC b AVC hkn Output Multiple Choice...
At the profit-maximizing output, total fixed cost MC MR ATC b AVC hkn Output Multiple Choice is fgab. is Ogan. is ba Dollars Saved If a perfectly competitive firm is producing at the P MC output and realizing an economic profit, at that output Multiple Choice marginal revenue is less than price. marginal revenue exceeds ATC. ATC is being minimized. total revenue equals total cost. The average total cost curve for a perfectly competitive firm. Suppose the marginal cost curve...
Price MC ATC AVC - MR 40 45 47 Quantity a. (1 points) Using the graph...
Price MC ATC AVC - MR 40 45 47 Quantity a. (1 points) Using the graph above, what is the profit maximizing or loss minimizing output and price? b. (1 point)Using the graph above, what is the profit or loss for the profit maximizing firm? c. (2 points) What would happen in this market in the long run. Be sure to explain in detail what happens in the market and the firm. What would be the long run price, and...
draw a graph depicting the MR, MC and demand curves for the monopolist. label the profit-maximizing...
draw a graph depicting the MR, MC and demand curves for the monopolist. label the profit-maximizing quantity of output and the price the monopolist will charge
$ 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
MC Cost and Revenue ATC MR AVC o '1'2'3'4'56'58' Quantity 10 a. (1 points) Using the...
MC Cost and Revenue ATC MR AVC o '1'2'3'4'56'58' Quantity 10 a. (1 points) Using the graph above, what is the profit maximizing or loss minimizing output and price? b. (1 point)Using the graph above, what is the profit or loss at the profit maximizing or loss minimizing point c. (1 point) What is the shutdown price and quantity?
Graph Worksheet MC DI MR P4 ATC P3 P2 AVC PI 02 1. What is the...
Graph Worksheet MC DI MR P4 ATC P3 P2 AVC PI 02 1. What is the price and quantity at the optimum level of production? Is this an economic profit, loss, or break-even? Should the firm produce? 2. If the industry model is monopolistic competition, what will happen to the industry? What will happen to the demand and marginal revenue curves for the individual firm? In the long run where will the demand curve be? Will the firm achieve productive...
Please solve both and show work. Use the graph below oh below to answer the next two questions. ATC MC $5.50 AVC $4....
Please solve both and show work.
Use the graph below oh below to answer the next two questions. ATC MC $5.50 AVC $4.50 -MR $3 25 40 50 Quantity 35. This profit-maximizing firm will produce units of output and have total revenue of a. 40; $170 b. 40; $220 c 5 0; $225 d. 50; $275 This profit-maximizing firm is: a. in long-run equilibrium. b. earning an economic profit of $40 in the short run. earning an economic profit of...
$ per unit MC ATC MR $20 AVC 5 10 15 20 25 30 Output (g)...
$ per unit MC ATC MR $20 AVC 5 10 15 20 25 30 Output (g) 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. Calculate the firm's profit. (Do not include a $ sign in your response. Round to the nearest two decimal places if necessary.)
Use the MR/MC approach and the appropriate graph to show the profit maximizing price and quantity...
Use the MR/MC approach and the appropriate graph to show the profit maximizing price and quantity for a firm in monopolistic competition. Assume that the firm is making economic profits in the short-run. Explain what happens to the economic profits in the long-run.
A firm's ATC, AVC, and MC curves are shown in the graph below. Break-even Point ATe 42- AVC 36- 30+ 24- 18- MC 12- 6+ 12 16 20 24 28 32 36 40 44 48 Reset Quantity supplied a) Plot the break-even (normal profit) point and the horizontal price line that corresponds to the break-even point. Select which item you want to draw from the drop-down menu at the top of the graph to draw that item. b) Plot the...
At the profit-maximizing output, total fixed cost MC MR ATC b AVC hkn Output Multiple Choice is fgab. is Ogan. is ba Dollars Saved If a perfectly competitive firm is producing at the P MC output and realizing an economic profit, at that output Multiple Choice marginal revenue is less than price. marginal revenue exceeds ATC. ATC is being minimized. total revenue equals total cost. The average total cost curve for a perfectly competitive firm. Suppose the marginal cost curve...
Price MC ATC AVC - MR 40 45 47 Quantity a. (1 points) Using the graph above, what is the profit maximizing or loss minimizing output and price? b. (1 point)Using the graph above, what is the profit or loss for the profit maximizing firm? c. (2 points) What would happen in this market in the long run. Be sure to explain in detail what happens in the market and the firm. What would be the long run price, and...
$ 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
MC Cost and Revenue ATC MR AVC o '1'2'3'4'56'58' Quantity 10 a. (1 points) Using the graph above, what is the profit maximizing or loss minimizing output and price? b. (1 point)Using the graph above, what is the profit or loss at the profit maximizing or loss minimizing point c. (1 point) What is the shutdown price and quantity?
Graph Worksheet MC DI MR P4 ATC P3 P2 AVC PI 02 1. What is the price and quantity at the optimum level of production? Is this an economic profit, loss, or break-even? Should the firm produce? 2. If the industry model is monopolistic competition, what will happen to the industry? What will happen to the demand and marginal revenue curves for the individual firm? In the long run where will the demand curve be? Will the firm achieve productive...
Please solve both and show work.
Use the graph below oh below to answer the next two questions. ATC MC $5.50 AVC $4.50 -MR $3 25 40 50 Quantity 35. This profit-maximizing firm will produce units of output and have total revenue of a. 40; $170 b. 40; $220 c 5 0; $225 d. 50; $275 This profit-maximizing firm is: a. in long-run equilibrium. b. earning an economic profit of $40 in the short run. earning an economic profit of...
$ per unit MC ATC MR $20 AVC 5 10 15 20 25 30 Output (g) 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. Calculate the firm's profit. (Do not include a $ sign in your response. Round to the nearest two decimal places if necessary.)
Most questions answered within 3 hours.
-
A bag contains 80 balls numbered 1, . . . , 80. Before the game
starts,...
asked 1 minute ago -
2. The following is the relation notation of a table for a
veterinary office. [70 pts....
asked 1 minute ago -
The value of ΔG° at 241.0°C for the formation of phosphorous
trichloride from its constituent elements,...
asked 10 minutes ago -
Consider an hypothesis test of two means with a test statistic
t-stat = 0.78, a critical...
asked 18 minutes ago -
What is the final dilution of a sample after 3 successive 1:10
dilutions and two 1:100...
asked 18 minutes ago -
You are the CFO of a US manufacturer that exports to Thailand.
You have received spot...
asked 18 minutes ago -
List two to three qualities of the norovirus that make it so
infectious.
Only approximately 70%...
asked 25 minutes ago -
1a- A 140-gram glider on a horizontal, frictionless air track is
attached to a fixed ideal...
asked 40 minutes ago -
How is blood glucose concentration maintained at steady state
conditions?
please answer in text
asked 43 minutes ago -
a. Calculate price elasticity given the following information.
Is the curve elastic, inelastic or unitary elastic?...
asked 44 minutes ago -
Carlos learns how to cook from his mother. This is an example
of
a.
neither human...
asked 47 minutes ago -
On January 1, 2017, Nicks Corporation issued $250 million of
floating-rate debt. The debt carries a...
asked 1 hour ago