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Question 2A: Quantity TC TVC TFC ATC AVC MC 0 30 1 40 2 50 3 30 4 30 5 40 6 260 7 300 The respective cost values when the firm's output is 7, are: 360; 300; 30; 57.1; 42.9; 100. 330; 300; 30; 33; 30; 70. 330; 300; 30; 47.1; 42.9; 70. 260; 300; 30; 43.3; 42.9; 0.
Subject Microeconomics Quantity AFC AVC ATC TC MC MR Profit/loss 1 60 45 --- 56 2 30 42.5 3 20 40 4 37.5 5 37 6 37.5 7 38.57 8 40.63 9 43.33 10 46.5 Week 2: Problem: Profitability
VC Profit Qs P TR FC TC МС АТС MR $30 $0 $-6 6 0 0 $25 $25 $1 $7 5 1 $20 $40 $3 $9 4 2 $15 $45 $7 $10 $20 $-5 $13 2 4 $5 $5 $22 $33 $11 $0 $0 6 Complete the table above, using the given information. 1. $6
D Question 23 Price (dollars per tire) S + tax 0 10 20 30 40 50 60 70 Quantity (millions of tires per month) The figure above shows the market for tires. The government has imposed a tax on tires, and the buyers pay— $10 $20 $50 $60 $30
$20 ATC 15 10 5 0 10 20 30 40 50 Quantity 60 70 80 Refer to the diagram showing the average total cost curve for a purely competitive firm. At the long-run equilibrium level of output, this firm's economic profit: is zero is $400 O is $200 cannot be determined from the information provided.
Suppose a monopolist faces the following demand curve. Price ($) 0 10 20 30 40 50 60 70 Quantity If the monopolist were to sell 20 units of output, its total revenue would be: o o o o
Supply Price 0 Demand 10 20 30 40 50 60 Quantity Demanded () & Quantity Supplied (9) 37. Refer to the above graph. Using Qs for quantity demanded and P for price, which of the following equations correctly states the demand for this product? A. P=Qs/10. B. P= 50 - P/2. C. P = 10 - .2Qd. D. P= 10 - 2Qd.
Price and cost cents per unit) -LRAC MR 20 0 10 30 DMC 40 50 Quantity (units per day 11) If an average cost pricing rule is imposed on the firm in the figure above, the deadweight loss will be A) $250. B) zero. C) $150. D) $50.
QUESTION 20 Table: Lunch Quantity Price Demanded $10 0 9 10 8 20 7 30 6 40 5 50 4 60 I've decided to open a burger shop on campus. The table above shows the different prices and quantity demanded I might have. I've estimated each burger to cost 54 (in other words, the marginal cost and average cost is 54). If I open this shop on Greek Row.rii face a perfectly competitive market. How much will produce in the...
QUESTION 15 Figure 6-6 Tarice 10 20 30 40 50 60 70 80 quantity Refer to Figure 6-6. If the government imposes a price ceiling of $8 on this market, then there will be O a. a shortage of 10 units. O b. a shortage of 20 units. O c. no shortage. O d. a shortage of 40 units.