Homework Answers
Answer - Option D
A monopsony labor market in a small town with a dominant firm who employs over 80 % of the citizens.
The monopoly does not have a well defined supply curve. Demand and supply curve of perfect competition are purely elastic. Thus option A,B ,C will be wrong
Hence option D is correct
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...
Price $30 25 20 15 10 D 0 150 Quantity 50 250 In a competitive market...
Price $30 25 20 15 10 D 0 150 Quantity 50 250 In a competitive market illustrated by the diagram above, a price ceiling of $l- per unit will result in Select one .a. a surplus of f.. units O b. a surplus of fo. units .c. a shortage ofro. units d. a shortage of r.. units Refer to the provided figure. If box A represents households, B the product market, and C businesses, and if flow (F) represents revenues,...
Willy's widgets, a monopoly, faces the following demand schedule (sales of widgets per month): Price $20 30 40 50 60 70 80 90 100 Quantity 40 35 30 25 20 15 10 5 0 Calculate marginal revenue over each interval in the schedule (for example, between Q
Willy's widgets, a monopoly, faces the following demand schedule (sales of widgets per month): Price $20 30 40 50 60 70 80 90 100 Quantity 40 35 30 25 20 15 10 5 0 Calculate marginal revenue over each interval in the schedule (for example, between Q = 40 and Q=35). Recall that the revenue is the added revenue from an additional unit of production/sales and assume MR is constant within each interval. If marginal cost is constant at $20...
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...
Price $30 25 20 15 10 D 0 150 Quantity 50 250 In a competitive market illustrated by the diagram above, a price ceiling of $l- per unit will result in Select one .a. a surplus of f.. units O b. a surplus of fo. units .c. a shortage ofro. units d. a shortage of r.. units Refer to the provided figure. If box A represents households, B the product market, and C businesses, and if flow (F) represents revenues,...
Most questions answered within 3 hours.
-
1. Sketch the expected Mass Spectrum of Pentane (C5H12)
2. Draw the most stable Newman projection...
asked 1 minute from now -
Prove that the following is a valid cumulative distribution
function
F(x) = x/(1+x) for a>=0
0...
asked 28 seconds ago -
There are changes in the dynamics of a relationship of a family
when family takes on...
asked 1 minute ago -
Caculate the PH THANK YOU!
[OH−] = 1.9×10−7 M
[OH−] = 1.6×10−8 M
[OH−] = 7.2×10−11...
asked 11 minutes ago -
Suppose you drive an old truck with a 32 gallon gas tank that
gets 16 miles/gallon....
asked 13 minutes ago -
What can be the anticipated results of curing diabetes with stem
cells?
asked 9 minutes ago -
As
an analyst you believe that Acme Company will pay a dividend of $3
per share...
asked 18 minutes ago -
Claim: At most 81% of adults do not have hypertension. When 869
randomly selected adults were...
asked 34 minutes ago -
Assume a class has 19 members.
a. In how many ways can a president, a vice...
asked 32 minutes ago -
What could be a possible reason that protozoan infections are
increasing in the United States
asked 31 minutes ago -
Implement a Full Adder with two 4x1 Mux and the MSB as possible
inputs of the...
asked 41 minutes ago -
offering the survey (maybe via smart phones) is a good idea?
why?
asked 37 minutes ago