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I believe I have part c and part d correct but I cannot...
please i want it typed please Styles 14. The Vague Fabric Company sells cotton fabric in...
please i want it typed please
Styles 14. The Vague Fabric Company sells cotton fabric in a perfectly competitive market at a price of $4 per yard. Its marginal cost, average variable cost, and average total cost curves can be seen below. price MC ATC d=MR AVC Find the profit-maximizing level of output and mark it q* Shade in the area of profit earned by the firm. Is it positive or negative? How do you know? 15. The Binkle Binder...
12.00 Lauren grows grapes. Her average variable cost (AVC), average total cost (ATC), and marginal cost...
12.00 Lauren grows grapes. Her average variable cost (AVC), average total cost (ATC), and marginal cost (MC) of production are illustrated in the figure to the right. 11.00 Assume the market for grapes is perfectly competitive and that the market price is $2.00 per crate. MC Characterize Lauren's economic profits. Assume she produces such that she maximizes profits in the short run. ATC Using the rectangle drawing tool, shade in Lauren's economic profits. Attach the correct label to indicate whether...
When a perfectly competitive market is in long-run equilibrium: O firms have an incentive to enter...
When a perfectly competitive market is in long-run equilibrium: O firms have an incentive to enter the market. O firms have an incentive to leave the market. O no firm has an incentive to enter or leave the market. When a firm operating in a perfectly competitive market is experiencing losses, it should continue operations if: O P< AVC O P=AVC O P > AVC If, in a perfectly competitive market, P= (a firm's) ATC, then the firm: earns an...
1) A perfectly competitive firm faces the following Total revenue, Total cost and Marginal cost functions:...
1) A perfectly competitive firm faces the following Total revenue, Total cost and Marginal cost functions: TR = 10Q TC = 2 + 2Q + Q2 MC = 2 + 2Q At the level of output maximizing profit , the above firm's level of economic profit is A) $0 B) $4 C) $6 D) $8 *Additional information after I did the math: The price this firm charges for its product is $10, the level of output maximizing profit is 4...
Assume that the following conditions exist for a perfectly competitive firm: price = $8.50, current output...
Assume that the following conditions exist for a perfectly competitive firm: price = $8.50, current output = 100 units, ATC at current output = $9.00, AVC at current output = $8.00, total fixed costs =$100 and MC at current output = $8.00. a. Is the firm earning any economic profit currently? How much is its profit or loss? b. Is the firm maximizing its economic profit? What should the firm do to maximize profit or minimize loss? c. Given your...
3. A firm in a perfectly competitive market will produce no output in the short run...
3. A firm in a perfectly competitive market will produce no output in the short run if the price is below $18 but will produce if the price is above $18. The smallest quantity they will produce in the short run is 8. Firms will earn 0 economic profit if the price is $74 and its profit maximizing quantity is 12 at that price. The firm’s fixed cost is $576. Assume the good can be produced in continuous quantities. Draw...
BYOB is a monopolist in beer production and distribution in the imaginary economy of Hopsville. Suppose that BYOB cannot price discriminate;
11. Profit maximization and loss minimization BYOB is a monopolist in beer production and distribution in the imaginary economy of Hopsville. Suppose that BYOB cannot price discriminate; that is, it sells its beer at the same price per can to all customers. The following graph shows the marginal cost (MC), marginal revenue (MR), average total cost (ATC), and demand (D) for beer in this market. Place the black point (plus symbol) on the graph to indicate the profit-maximizing price and quantity for...
BYOB is a monopolist in beer production and distribution in the imaginary economy of Hopsville. Suppose that BYOB cannot price discriminate;
BYOB is a monopolist in beer production and distribution in the imaginary economy of Hopsville. Suppose that BYOB cannot price discriminate; that is, it sells its beer at the same price per can to all customers. The following graph shows the marginal cost (MC), marginal revenue (MR), average total cost (ATC), and demand (D) for beer in this market. Place the black point (plus symbol) on the graph to indicate the profit-maximizing price and quantity for BYOB. If BYOB is making...
32. Ina sells her homegrown pumpkins at a roadside stand. Assume that the industry is perfectly competitive. The graph below represents the short run cost curves for Ina's pumpkins farm Part 1: I...
32. Ina sells her homegrown pumpkins at a roadside stand. Assume that the industry is perfectly competitive. The graph below represents the short run cost curves for Ina's pumpkins farm Part 1: In a separate model, draw the graph for the entire pumpkins market when the market price of pumpkins is S10. Part 2: (a) On Ina's pumpkins farm graph, label the ATC, AVC and MC curves. (b) Given the price in the pumpkins market, draw and label the market...
I know that these have answers but I do not believe they are all correct. I also knew you can only answer 4 questions. S...
I know that these have answers but I do not believe they are all
correct. I also knew you can only answer 4 questions. So if one of
them is already correct could you answer the ones that are
wrong?
9) If a regulated monopolist has a loss when the the government should subsidize the firm. government forces it to price at its marginal cost, the firm should exit the industry. the firm should minimize its losses. the government should...
please i want it typed please
Styles 14. The Vague Fabric Company sells cotton fabric in a perfectly competitive market at a price of $4 per yard. Its marginal cost, average variable cost, and average total cost curves can be seen below. price MC ATC d=MR AVC Find the profit-maximizing level of output and mark it q* Shade in the area of profit earned by the firm. Is it positive or negative? How do you know? 15. The Binkle Binder...
12.00 Lauren grows grapes. Her average variable cost (AVC), average total cost (ATC), and marginal cost (MC) of production are illustrated in the figure to the right. 11.00 Assume the market for grapes is perfectly competitive and that the market price is $2.00 per crate. MC Characterize Lauren's economic profits. Assume she produces such that she maximizes profits in the short run. ATC Using the rectangle drawing tool, shade in Lauren's economic profits. Attach the correct label to indicate whether...
When a perfectly competitive market is in long-run equilibrium: O firms have an incentive to enter the market. O firms have an incentive to leave the market. O no firm has an incentive to enter or leave the market. When a firm operating in a perfectly competitive market is experiencing losses, it should continue operations if: O P< AVC O P=AVC O P > AVC If, in a perfectly competitive market, P= (a firm's) ATC, then the firm: earns an...
32. Ina sells her homegrown pumpkins at a roadside stand. Assume that the industry is perfectly competitive. The graph below represents the short run cost curves for Ina's pumpkins farm Part 1: In a separate model, draw the graph for the entire pumpkins market when the market price of pumpkins is S10. Part 2: (a) On Ina's pumpkins farm graph, label the ATC, AVC and MC curves. (b) Given the price in the pumpkins market, draw and label the market...
I know that these have answers but I do not believe they are all
correct. I also knew you can only answer 4 questions. So if one of
them is already correct could you answer the ones that are
wrong?
9) If a regulated monopolist has a loss when the the government should subsidize the firm. government forces it to price at its marginal cost, the firm should exit the industry. the firm should minimize its losses. the government should...
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