Homework Answers
SOLUTION 4:----
Hence that the given as that to
since the perfectely competitive market , if all firms faces is will be identical, and alsi constant marginal cost curves then the consumer surplus is should be
RIGHT OPTION IS A
finally consumer surplus is an area under the demand curve and above the price line.
Add Answer to:
In a perfectly competitive market, if all fims face identical, constant marginal cost curves, then consumer...
Assume the market for tortillas is perfectly competitive. The market supply and demand curves for tortillas...
Assume the market for tortillas is perfectly competitive. The market supply and demand curves for tortillas are given as follows: Supply curve: P =0.000002Q Demand curve: P = 11 - 0.00002Q The short run marginal cost curve for one tortilla factory is: MC = 0.0005q The firm's average variable cost curve intersects the marginal cost at a vertical distance of 0.1 above the horizontal axis. a. Determine the equilibrium price for tortillas. b. Determine the profit maximizing short run equilibrium...
1. Assume the market for tortillas is perfectly competitive. The market supply and demand curves for...
1. Assume the market for tortillas is perfectly competitive. The market supply and demand curves for tortillas are given as follows: Supply curve: P = 0.20 Demand curve: P = 1100 – 20 The short-run total cost curve for a typical tortilla factory, ABC, is: TC = 500 + 10 + 4.522 a) Determine the market equilibrium price and quantity. b) Determine the profit-maximizing level of output for factory ABC. c) Assuming that all of the factories are identical, how...
3) There are 1,000 identical perfectly competitive real-estate firms selling office space in Syracuse, NY. The Marginal...
3) There are 1,000 identical perfectly competitive real-estate firms selling office space in Syracuse, NY. The Marginal Cost of producing each square foot of space is constant and equal to $20. There are no fixed costs of production. So the firm’s short-run and long-run cost function is c(q) = 20q. The market demand is Q = 10,000 - 250p. a) What is the equilibrium price and quantity of office space in the real-estate market in the short-run? How much does...
(a) All firms in a perfectly competitive industry face the same long-run average cost curve, AC...
(a) All firms in a perfectly competitive industry face the same long-run average cost curve, AC = 0.05q – 5 + 500/q, and the same long-run marginal cost curve given by MC = 0.1q – 5. The market demand for the product of these firms is QD = 100,000 – 10,000P. i.Calculate the equilibrium price and quantity. ii.Assuming the market is in long-run equilibrium, how many firms will be on the market? (b) Suppose the demand for cotton T-shirts is...
In a perfectly competitive market, the demand curve shows the O A. marginal benefit; marginal cost...
In a perfectly competitive market, the demand curve shows the O A. marginal benefit; marginal cost OB. utility; average cost O C. net benefit; net costs O D. economic surplus, opportunity cost received by consumers and the supplu curve shows the
Suppose there is a perfectly competitive industry where all the firms are identical with identical cost...
Suppose there is a perfectly competitive industry where all the firms are identical with identical cost curves. Furthermore, suppose that a representative firm’s total cost is given by the equation TC = 100 + q2 + q where q is the quantity of output produced by the firm. You also know that the market demand for this product is given by the equation P = 900 - 2Q where Q is the market quantity. In addition, you are told that...
31 In perfectly competitive industries: A. the shont-run market supply curves are positively sloped в. long-rusniustry...
31 In perfectly competitive industries: A. the shont-run market supply curves are positively sloped в. long-rusniustry supply curve,are positively sloped. C. the short-run D. All of the above E. Only B and C are correct market supply curves are more clastic than the long-run industry supply curvers s3. Assame a perfectly-competitive, increasing-cost industry composed of identical firms is initially in long-run equilibrium. Given a decrease in demand, in the short ran: equilbrium price decreases, equilibrium output increases, the output of...
Part C Suppose the market for flowers is perfectly competitive. The market dema decimals to 2...
Part C Suppose the market for flowers is perfectly competitive. The market dema decimals to 2 decimal places. tsupply curve is qs p-200. In the questions below, round any a. Calculate the perfectly competitive equilibrium q and p Suppose the government institutes a per-unit tax on consumers equal to 75% of the market price of flowers. Calculate the new equilibrium q and p, consumer incidence, producer incidence, points (original demand and supply curves, new demand and/or s intercepts, slopes, equilibrium...
Answer just part b ) All firms in a perfectly competitive industry face the same long-run...
Answer just part b ) All firms in a perfectly competitive industry face the same long-run average cost curve, AC = 0.05q – 5 + 500/q, and the same long-run marginal cost curve given by MC = 0.1q – 5. The market demand for the product of these firms is QD = 100,000 – 10,000P. i. Calculate the equilibrium price and quantity. ii. Assuming the market is in long-run equilibrium, how many firms will be on the market? (b) Suppose...
In a competitive (same as perfectly competitive) market, the equilibrium price is determined : at the intersection...
In a competitive (same as perfectly competitive) market, the equilibrium price is determined : at the intersection of the firm's demand curve and the market supply curve at the intersection of the market demand and supply curves at the intersection of the firm's demand and marginal cost curves so as to cover the costs of the potential firms so as to cover the costs of the firms currently in the industry
1. Assume the market for tortillas is perfectly competitive. The market supply and demand curves for tortillas are given as follows: Supply curve: P = 0.20 Demand curve: P = 1100 – 20 The short-run total cost curve for a typical tortilla factory, ABC, is: TC = 500 + 10 + 4.522 a) Determine the market equilibrium price and quantity. b) Determine the profit-maximizing level of output for factory ABC. c) Assuming that all of the factories are identical, how...
In a perfectly competitive market, the demand curve shows the O A. marginal benefit; marginal cost OB. utility; average cost O C. net benefit; net costs O D. economic surplus, opportunity cost received by consumers and the supplu curve shows the
31 In perfectly competitive industries: A. the shont-run market supply curves are positively sloped в. long-rusniustry supply curve,are positively sloped. C. the short-run D. All of the above E. Only B and C are correct market supply curves are more clastic than the long-run industry supply curvers s3. Assame a perfectly-competitive, increasing-cost industry composed of identical firms is initially in long-run equilibrium. Given a decrease in demand, in the short ran: equilbrium price decreases, equilibrium output increases, the output of...
Part C Suppose the market for flowers is perfectly competitive. The market dema decimals to 2 decimal places. tsupply curve is qs p-200. In the questions below, round any a. Calculate the perfectly competitive equilibrium q and p Suppose the government institutes a per-unit tax on consumers equal to 75% of the market price of flowers. Calculate the new equilibrium q and p, consumer incidence, producer incidence, points (original demand and supply curves, new demand and/or s intercepts, slopes, equilibrium...
Most questions answered within 3 hours.
-
Why did so many investment banks have to start buying CDO’s and
other mortgaged backed securities...
asked 1 minute ago -
The mean cost of domestic airfares in the United States rose to
an all-time high of...
asked 12 minutes ago -
1.Magazine Luiza is a Brazilian retail chain for consumer
electronics. The company currently has 100 stores...
asked 11 minutes ago -
What is the molarity of ZnCl2 that forms when 25.0 g of zinc
completely reacts with...
asked 13 minutes ago -
For independent X and Y, we have probability density function
for them where pdf of X...
asked 23 minutes ago -
The decomposition of SO2Cl2 is first order in SO2Cl2 and has a
rate constant of 1.42...
asked 19 minutes ago -
How do I convert from volume percent to mole percent in the
distillation lab? ethy acetate...
asked 26 minutes ago -
8. An air-plane has an effective wing surface area of 14.0 m²
that is generating the...
asked 27 minutes ago -
A railroad worker was a person who worked on setting and moving
railroad tracks. In securing...
asked 25 minutes ago -
using RECURSIVE Functions in Java, create a public static String
doubleLetters (String word)
For ex) that...
asked 32 minutes ago -
With a $16 Trillion national ebt, and projected annual budget
eficits in excess of $1 Trillion...
asked 46 minutes ago -
A machine shop owner wishes to assign each of three machinists
(labeled 1, 2, and 3)...
asked 1 hour ago