Homework Answers
| P | Q | TR | FC | VC | Profit |
| 25 | 30000 | 750000 | 520000 | 750000 | -520000 |
| 40 | 40000 | 1600000 | 520000 | 1080000 | 0 |
| 65 | 50000 | 3250000 | 520000 | 1550000 | 1180000 |
Shutdown price = 25
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5. Profit maximization and shutting down in the short run Suppose that the market for black...
Suppose that the market for sports watches is a competitive market. The following graph shows the daily cost curves of a firm operating in this market.
5. Protit maximization and shutting down in the short run Suppose that the market for sports watches is a competitive market. The following graph shows the daily cost curves of a firm operating in this market. For each price in the following table, calculate the firm's optimal quantity of units to produce, and determine the profit or loss if it produces at that quantity, using the data from the previous graph to identify its total variable cost. Assume that if the firm...
Suppose that the market for black sweaters is a competitive market. The following graph shows the daily cost curves of a firm operating in this market.
5. Profit maximization and shutting down in the short
runSuppose that the market for black sweaters is a competitive
market. The following graph shows the daily cost curves of a firm
operating in this market.For each price in the following table, calculate the firm's
optimal quantity of units to produce, and determine the profit or
loss if it produces at that quantity, using the data from the
previous graph to identify its total variable cost. Assume that if
the firm...
Suppose that the market for candles is a competitive market. The following graph shows the daily cost curves of a firm operating in this market.
5. Profit maximization and shutting down in the short run Suppose that the market for candles is a competitive market. The following graph shows the daily cost curves of a firm operating in this market.For each price in the following table, calculate the firm's optimal quantity of units to produce, and determine the profit or loss if it produces at that quantity, using the data from the graph to identify its total variable cost. Assume that if the firm is indifferent...
Suppose that the market for microwave ovens is a competitive market. The following graph shows the daily cost curves of a firm operating in this market.
5. Profit maximization and shutting down in the short
runSuppose that the market for microwave ovens is a competitive
market. The following graph shows the daily cost curves of a firm
operating in this market.For each price in the following table, calculate the firm's optimal quantity of units to produce, and determine the profit or loss if it produces at that quantity, using the data from the previous graph to identify its total variable cost. Assume that if the firm...
4. Profit maximization in the cost-curve diagram Aa Aa Consider a perfectly competitive market for teddy...
4. Profit maximization in the cost-curve diagram Aa Aa Consider a perfectly competitive market for teddy bears. The following graph shows the daily cost curves of a firm operating in this market. PRICE (Dollars per bear) 20 Profit or Loss MC 16 ATC 12 AVC 8 4 010 20 30 40 50 60 OUTPUT (Thousands of bears) Help Clear ALL In the short run, at a market price of $18 per bear, this firm will choose to produce bears per...
For each price in the following table, calculate the firm's optimal quantity of units to produce,...
For each price in the
following table, calculate the firm's optimal quantity of units to
produce, and determine the profit or loss if it produces at that
quantity, using the data from the previous graph to identify its
total variable cost. Assume that if the firm is indifferent between
producing and shutting down, it will produce.
(Hint: You can select the purple points [diamond
symbols] on the previous graph to see precise information on
average variable cost.)
If the firm...
5. Profit maximization and shutting down in the short run Suppose that the market for blenders...
5. Profit maximization and shutting down in the short run Suppose that the market for blenders is a competitive market. The following graph shows the daily cost curves of a firm operating in this market. 100T 90 80 TC C 70 2 50 a 40 30 AVC 20 10 0 5 10 15 20 25 30 35 40 45 50 QUANTITY (Thousands of blenders)
Consider a perfectly competitive market for frylng pans. The following graph shows the dally cost curves...
Consider a perfectly competitive market for frylng pans. The following graph shows the dally cost curves of a firm operating in this market. PRICE AND COST (Dollars per pan 20 Profit or Loss 16 ATC 12 AVC 10 20 30 450 60 OUTPUT IThousands of pans per day) Help Clear All In the short run, at a market price of $8 per pan, this firm will choose to produce pans per day. On the previous graph, use the blue rectangle...
Consider a perfectly competitive market for shirts. The following graph shows the dally cost curves of a firm oper...
Consider a perfectly competitive market for shirts. The following graph shows the dally cost curves of a firm operating in this market. PRICE, COST (Dollars per shirt 20 Profit or Loss MC 16 ATC 12 AVC 6 12 18 24 30 36 QUANTITY OF OUTPUTIThousands of shirts per dayl Help Clear AIL In the short run, at a market price of $18 per shirt, this firm will choose to produce 27.00 shirts per day On the previous graph, use the...
4. Short-run profit maximization or loss minimization for a perfectly competitive firm Suppose that the market...
4. Short-run profit maximization or loss minimization for a perfectly competitive firm Suppose that the market for cashmere sweaters is a perfectly competitive market. The following graph shows the daily cost curves of a firm operating in this market. Profit or Loss PRICE AND COST (Dollars per sweater) 0 10 90 100 20 30 40 50 60 70 80 QUANTITY OF OUTPUT (Sweaters) In the short run, at a market price of $80 per sweater, this firm will choose to...
5. Profit maximization and shutting down in the short
runSuppose that the market for black sweaters is a competitive
market. The following graph shows the daily cost curves of a firm
operating in this market.For each price in the following table, calculate the firm's
optimal quantity of units to produce, and determine the profit or
loss if it produces at that quantity, using the data from the
previous graph to identify its total variable cost. Assume that if
the firm...
4. Profit maximization in the cost-curve diagram Aa Aa Consider a perfectly competitive market for teddy bears. The following graph shows the daily cost curves of a firm operating in this market. PRICE (Dollars per bear) 20 Profit or Loss MC 16 ATC 12 AVC 8 4 010 20 30 40 50 60 OUTPUT (Thousands of bears) Help Clear ALL In the short run, at a market price of $18 per bear, this firm will choose to produce bears per...
For each price in the
following table, calculate the firm's optimal quantity of units to
produce, and determine the profit or loss if it produces at that
quantity, using the data from the previous graph to identify its
total variable cost. Assume that if the firm is indifferent between
producing and shutting down, it will produce.
(Hint: You can select the purple points [diamond
symbols] on the previous graph to see precise information on
average variable cost.)
If the firm...
5. Profit maximization and shutting down in the short run Suppose that the market for blenders is a competitive market. The following graph shows the daily cost curves of a firm operating in this market. 100T 90 80 TC C 70 2 50 a 40 30 AVC 20 10 0 5 10 15 20 25 30 35 40 45 50 QUANTITY (Thousands of blenders)
Consider a perfectly competitive market for frylng pans. The following graph shows the dally cost curves of a firm operating in this market. PRICE AND COST (Dollars per pan 20 Profit or Loss 16 ATC 12 AVC 10 20 30 450 60 OUTPUT IThousands of pans per day) Help Clear All In the short run, at a market price of $8 per pan, this firm will choose to produce pans per day. On the previous graph, use the blue rectangle...
Consider a perfectly competitive market for shirts. The following graph shows the dally cost curves of a firm operating in this market. PRICE, COST (Dollars per shirt 20 Profit or Loss MC 16 ATC 12 AVC 6 12 18 24 30 36 QUANTITY OF OUTPUTIThousands of shirts per dayl Help Clear AIL In the short run, at a market price of $18 per shirt, this firm will choose to produce 27.00 shirts per day On the previous graph, use the...
4. Short-run profit maximization or loss minimization for a perfectly competitive firm Suppose that the market for cashmere sweaters is a perfectly competitive market. The following graph shows the daily cost curves of a firm operating in this market. Profit or Loss PRICE AND COST (Dollars per sweater) 0 10 90 100 20 30 40 50 60 70 80 QUANTITY OF OUTPUT (Sweaters) In the short run, at a market price of $80 per sweater, this firm will choose to...
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Maria Diez Sat, Dec 4, 2021 8:51 PM