The curves show the marginal revenue (MR), marginal cost (MC), and average total cost (ATC) functions for a firm in a competitive market. Use the area tool to draw the area representing the maximum profit the firm could earn—that is, the profit the firm would earn if it produced the optimal quantity. Your answer should be a rectangle drawn with four corners.
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The curves show the marginal revenue (MR), marginal cost (MC), and average total cost (ATC) functions...
The curves show the marginal cost (MC), average variable cost (AVC) and average total cost (ATC)...
The curves show the marginal cost (MC), average variable cost (AVC) and average total cost (ATC) curves for a firm that sell mid-range cars in a competitive market. Use the area tool to draw the area representing the firms profit or loss, if the firm produce 6000 cars. Your answer should be a rectangle drawn with four corners
When the firm produce 6000 cars it earn a profit or suffer a loss of ----- million
The graph below shows the demand (D), marginal revenue (MR), marginal cost (MC), and average total...
The graph below shows the demand (D), marginal revenue (MR), marginal cost (MC), and average total cost (ATC) curves for a hazardous-waste removal firm that operates as a local monopoly. If the market quantity is 400 barrels, use the area tool to draw the rectangle that represents the firm's profits. Your answer should be a rectangle drawn with four corners.
The graph below shows the demand (D), marginal revenue (MR), marginal cost (MC), and average total cost (ATC) curves for a supplier of bottled water to commercial buildings. The firm operates as a local monopoly. Use the area tool to draw the rectangle th
The graph below shows the demand (D), marginal revenue (MR), marginal cost (MC), and average total cost (ATC) curves for a supplier of bottled water to commercial buildings. The firm operates as a local monopoly. Use the area tool to draw the rectangle that represents the firm's profit if the market quantity is 7,000 bottles.Your answer should be a rectangle with four corners. To refer to the graphing tutorial for this question type, please click here.
The following graph shows the marginal cost (MC), marginal revenue (MR), average total cost (ATC), and...
The following graph shows the marginal cost (MC), marginal revenue (MR), average total cost (ATC), and demand (D) for a monopolist. Suppose that this monopolist cannot price discriminate. Place the grey point (starymbol) on the graph to indicate the profit-maximizing price and quantity for this monopolist. If the monopolist is making a profitne the green rectangle (triungle symbols) to shade in the area representing its profit. On the other hand, if the monopolist is suffering a loss use the purple...
The graph shows the demand (D), marginal revenue (MR), and marginal cost (MC) curves for a...
The graph shows the demand (D), marginal revenue (MR),
and marginal cost (MC) curves for a monopolist. Use the area tool
to outline the region corresponding to the deadweight loss that is
due to the market being monopolistic rather than competitive. Your
answer should be a triangle drawn with three corners.
Thank you.
The graph shows the demand (D), marginal revenue (MR), and marginal cost (MC curves for a monopolist. Use the area tool to outline the region corresponding to...
The graph to the right shows the Marginal Cost (MC), Average Total Cost (ATC), and Marginal...
The graph to the right shows the Marginal Cost (MC), Average Total Cost (ATC), and Marginal Revenue (MR) curves for a perfectly (or purely) competitive firm. Note that the Demand (D) curve is the same as the MR curve for such a MR/MC ($) firm. Assume that the cost curves here are representative of other firms in the industry. Given the current price, this firm will: earn a positive profit. earn a negative profit. earn zero economic profit. In the...
The curves show the marginal cost (MC), average variable cost (AVC), and average total cost (ATC)...
The curves show the marginal cost (MC), average variable cost (AVC), and average total cost (ATC) functions for a firm in a competitive market. Using the straight-line tool, draw a straight line, all the way from the left edge of the graph to the right edge, to represent the minimum price at which the firm should continue operating.
The graph below shows a monopolist's demand (D), marginal revenue (MR), marginal cost (MC), and average...
The graph below shows a monopolist's demand (D), marginal
revenue (MR), marginal cost (MC), and average total cost (ATC)
curves. Management wants to adjust the production output quantity
to maximize the firm's profits. What quantity should the firm aim
for?
Give your answer by dragging the Q line to a new position to mark
the quantity at which profit is as large as possible.
Price and cost ATC MC MR Quantity
MR, MC, and ATC $12.00 MC $10.00 $8.00 $6.00 $4.00 ATC ATC = $2.75 $2.00 MR...
MR, MC, and ATC $12.00 MC $10.00 $8.00 $6.00 $4.00 ATC ATC = $2.75 $2.00 MR P = $1.50 $0.00 0 1 120 20 40 Average Total Cost (ATC) 60 - Marginal Cost (MC) 80 100 R Marginal Revenue (MR) Question 2 of Quiz 4: If the firm maximizes the profit, calculate the profit of the perfectly competitive firm when the price is $1.5, show your calculation. Is that equal to the size of the red rectangle?
Let P = price, MR = marginal revenue, MC = marginal cost, and ATC = average...
Let P = price, MR = marginal revenue, MC = marginal cost, and ATC = average total cost. In monopolistic competition, which of the following most accurately describes the long-run equilibrium conditions for a firm? Group of answer choices P > ATC, MR = MC, and P > MC P > ATC, MR > MC, and P = MC P = ATC, MR = MC, and P > MC P = ATC, MR = MC, and P = MC P...
The curves show the marginal cost (MC), average variable cost (AVC) and average total cost (ATC) curves for a firm that sell mid-range cars in a competitive market. Use the area tool to draw the area representing the firms profit or loss, if the firm produce 6000 cars. Your answer should be a rectangle drawn with four corners
When the firm produce 6000 cars it earn a profit or suffer a loss of ----- million
The graph below shows the demand (D), marginal revenue (MR), marginal cost (MC), and average total cost (ATC) curves for a hazardous-waste removal firm that operates as a local monopoly. If the market quantity is 400 barrels, use the area tool to draw the rectangle that represents the firm's profits. Your answer should be a rectangle drawn with four corners.
The following graph shows the marginal cost (MC), marginal revenue (MR), average total cost (ATC), and demand (D) for a monopolist. Suppose that this monopolist cannot price discriminate. Place the grey point (starymbol) on the graph to indicate the profit-maximizing price and quantity for this monopolist. If the monopolist is making a profitne the green rectangle (triungle symbols) to shade in the area representing its profit. On the other hand, if the monopolist is suffering a loss use the purple...
The graph shows the demand (D), marginal revenue (MR),
and marginal cost (MC) curves for a monopolist. Use the area tool
to outline the region corresponding to the deadweight loss that is
due to the market being monopolistic rather than competitive. Your
answer should be a triangle drawn with three corners.
Thank you.
The graph shows the demand (D), marginal revenue (MR), and marginal cost (MC curves for a monopolist. Use the area tool to outline the region corresponding to...
The graph to the right shows the Marginal Cost (MC), Average Total Cost (ATC), and Marginal Revenue (MR) curves for a perfectly (or purely) competitive firm. Note that the Demand (D) curve is the same as the MR curve for such a MR/MC ($) firm. Assume that the cost curves here are representative of other firms in the industry. Given the current price, this firm will: earn a positive profit. earn a negative profit. earn zero economic profit. In the...
The curves show the marginal cost (MC), average variable cost (AVC), and average total cost (ATC) functions for a firm in a competitive market. Using the straight-line tool, draw a straight line, all the way from the left edge of the graph to the right edge, to represent the minimum price at which the firm should continue operating.
The graph below shows a monopolist's demand (D), marginal
revenue (MR), marginal cost (MC), and average total cost (ATC)
curves. Management wants to adjust the production output quantity
to maximize the firm's profits. What quantity should the firm aim
for?
Give your answer by dragging the Q line to a new position to mark
the quantity at which profit is as large as possible.
Price and cost ATC MC MR Quantity
MR, MC, and ATC $12.00 MC $10.00 $8.00 $6.00 $4.00 ATC ATC = $2.75 $2.00 MR P = $1.50 $0.00 0 1 120 20 40 Average Total Cost (ATC) 60 - Marginal Cost (MC) 80 100 R Marginal Revenue (MR) Question 2 of Quiz 4: If the firm maximizes the profit, calculate the profit of the perfectly competitive firm when the price is $1.5, show your calculation. Is that equal to the size of the red rectangle?
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