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Using the graph photo provided, make a graph just like the photo
assuming the price of...
Use the graph to answer four questions. Typical Computer Firm Price or Cost (dollars per computer)...
Use the graph to answer four questions. Typical Computer Firm Price or Cost (dollars per computer) $1,400 $1,300 $1,200 $1,100 $1,000 $900 $800 $700 $600 $500 $400 (600, 400) $300 $200 0 100 200 300 400 500 600 700 800 900 1,000 Quantity (computers per month) If the market price for computers is $500, Instructions: Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of...
The graph below shows the marginal, average variable, and average total cost curves for a pizza...
The graph below shows the marginal, average variable, and average total cost curves for a pizza seller. Refer to the graph to answer the following questions. Instructions: Indicate the profit-maximizing level of output. Enter your response as a whole number. Cost Curves 3.50 3.25 3.00 2.75 Select Select Select 2.50 (S/slice) 2.00 W 1.75 1.50 1.25 1.00 0.75 0.50 0.25 100 200 300 400 500 600 700 800 900 Q -> Quantity (slices/day) a. What is the amount of the...
The movement from point A to point B on the graph is called Supply B PRICE...
The movement from point A to point B on the graph is called Supply B PRICE A P Q Q QUANTITY a decrease in the quantity supplied O O an increase in the quantity supplied a decrease in supply an increase in supply Use the following data on the market for graphic t-shirt at your University for question -- Price Quantity Demanded Quantity Supplied $10 5,000 1,000 $12 4,500 1,600 $14 3,800 2,000 $18 3,200 2,500 $24 2,800 2,800 $26...
Remaining Time: 1 hour, 29 minutes, 00 seconds. Question Completion Status Question 1 Based on the data in the Tab...
Remaining Time: 1 hour, 29 minutes, 00 seconds. Question Completion Status Question 1 Based on the data in the Tablet (a) What were the fixed costs of production for the fir? (b) At what rule of output was profit per computer maximized? (Choose the highest output level) computers per month (c) At what output rate was total profit maximized? computers per month Price Output per Month Total Total Revenue Cost Total Profit Marginal Revenue* Marginal Average Cost* Total Cost Profit...
2.24 (LO 1, 3) Excel Cost behavior identification; contribution format income statement Mighty Bright Window Cleaners'...
2.24 (LO 1, 3) Excel Cost behavior identification; contribution format income statement Mighty Bright Window Cleaners' monthly income statement at several levels of activity is as follows: Windows washed 1,000 2,000 3,000 Sales revenue $3,000 $6,000 $9,000 Cost of goods sold 1,200 2,400 3,600 Gross profit 1,800 3,600 5,400 Operating expenses Advertising expense 400 400 400 Salaries and wages expense 700 900 1,100 Insurance expense 200 200 200 Postage expense 400 800 1,200 Total operating expenses 1,700 2,300 2,900 Operating...
A) On the above diagram, indicate the long-run equilibrium (break-even ) point by labeling it E.
Refer to the above graph when answering the following questions. A) On the above diagram, indicate the long-run equilibrium (break-even ) point by labeling it E. B) The long-run equilibrium (break-even ) quantity is_______ units and the long-run equilibrium price is _______ Assume a market price of $10 and a firm pursuing profit maximization. C) Given the market price of $10, on the above diagram, draw and label the perfectly competitive firm's demand curve D) Total revenue at the profit-maximizing output is: E) Total cost at...
Three entrepreneurs plan to open a copy shop. It costs $5000 per year to rent a...
Three entrepreneurs plan to open a copy shop. It costs $5000 per
year to rent a copier. It costs $0.03 per copy to operate the
copier. Other fixed costs of running the store will amount to $400
per month. The planned price per copy is $0.10. The shop will be
open 365 days per year. Each copier can make up to 100,000 copies
per year.
The graph for cost and revenue is shown below. We can see that
at a...
In perfect competition the price is ALWAYS $10. In the monopoly, the price changes. Perfect Competition...
In perfect competition the price is ALWAYS $10. In the monopoly,
the price changes.
Perfect Competition Price of output: $10 Fixed costs: $200 Variable Cost Fixed Cost Total Cost Avg Variable Avg Fixed | Cost Cost Avg Total Cost Total Marginal Marginal Revenue Revenue Cost Output SO $0 $14.50 $10.63 $100 $200 $300 $400 $500 $600 $700 $800 $9.92 $10.50 $50 $250 $20.00 $90 $4.50 $160 $360 $5.33 $6.67 $225 $300 $500 $6.00 $4.00 $395 $510 $710 $7.29 $2.86 80...
The graph presents the short-run costs and revenue for a monopolistically competitive firm. Use this information...
The graph presents the short-run costs and revenue for a monopolistically competitive firm. Use this information to determine the profit-maximizing output and profit for this firm in the short run Cost and revenue $800 750 700 650 600 550 500 450 400 350 300 250 200 150 100 50 Average total cost Marginal cost What is the profit-maximizing output of this monopolistically competitive firm? Round your answer to the nearest whole number units of output Demand What is the maximum...
Answer questions using the table
Answer questions using the table TABLE Fixed Variable Total Marginal Output Cost Cost Cost AVC ATC Cost 1 $400 2 $700 3 $918 4 $1200 5 $1650 6 $2352 Given: Fixed cost =$1000; price=$550. Fill in table On a piece of graph paper, draw a graph of the demand, marginal revenue, ATC, AVC, and MC curves. The demand curve would be perfectly elastic and it would be the same as the Marginal Revenue Curve and equal to the price. How much is the best level of output?...
Use the graph to answer four questions. Typical Computer Firm Price or Cost (dollars per computer) $1,400 $1,300 $1,200 $1,100 $1,000 $900 $800 $700 $600 $500 $400 (600, 400) $300 $200 0 100 200 300 400 500 600 700 800 900 1,000 Quantity (computers per month) If the market price for computers is $500, Instructions: Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of...
The graph below shows the marginal, average variable, and average total cost curves for a pizza seller. Refer to the graph to answer the following questions. Instructions: Indicate the profit-maximizing level of output. Enter your response as a whole number. Cost Curves 3.50 3.25 3.00 2.75 Select Select Select 2.50 (S/slice) 2.00 W 1.75 1.50 1.25 1.00 0.75 0.50 0.25 100 200 300 400 500 600 700 800 900 Q -> Quantity (slices/day) a. What is the amount of the...
The movement from point A to point B on the graph is called Supply B PRICE A P Q Q QUANTITY a decrease in the quantity supplied O O an increase in the quantity supplied a decrease in supply an increase in supply Use the following data on the market for graphic t-shirt at your University for question -- Price Quantity Demanded Quantity Supplied $10 5,000 1,000 $12 4,500 1,600 $14 3,800 2,000 $18 3,200 2,500 $24 2,800 2,800 $26...
Remaining Time: 1 hour, 29 minutes, 00 seconds. Question Completion Status Question 1 Based on the data in the Tablet (a) What were the fixed costs of production for the fir? (b) At what rule of output was profit per computer maximized? (Choose the highest output level) computers per month (c) At what output rate was total profit maximized? computers per month Price Output per Month Total Total Revenue Cost Total Profit Marginal Revenue* Marginal Average Cost* Total Cost Profit...
2.24 (LO 1, 3) Excel Cost behavior identification; contribution format income statement Mighty Bright Window Cleaners' monthly income statement at several levels of activity is as follows: Windows washed 1,000 2,000 3,000 Sales revenue $3,000 $6,000 $9,000 Cost of goods sold 1,200 2,400 3,600 Gross profit 1,800 3,600 5,400 Operating expenses Advertising expense 400 400 400 Salaries and wages expense 700 900 1,100 Insurance expense 200 200 200 Postage expense 400 800 1,200 Total operating expenses 1,700 2,300 2,900 Operating...
Three entrepreneurs plan to open a copy shop. It costs $5000 per
year to rent a copier. It costs $0.03 per copy to operate the
copier. Other fixed costs of running the store will amount to $400
per month. The planned price per copy is $0.10. The shop will be
open 365 days per year. Each copier can make up to 100,000 copies
per year.
The graph for cost and revenue is shown below. We can see that
at a...
In perfect competition the price is ALWAYS $10. In the monopoly,
the price changes.
Perfect Competition Price of output: $10 Fixed costs: $200 Variable Cost Fixed Cost Total Cost Avg Variable Avg Fixed | Cost Cost Avg Total Cost Total Marginal Marginal Revenue Revenue Cost Output SO $0 $14.50 $10.63 $100 $200 $300 $400 $500 $600 $700 $800 $9.92 $10.50 $50 $250 $20.00 $90 $4.50 $160 $360 $5.33 $6.67 $225 $300 $500 $6.00 $4.00 $395 $510 $710 $7.29 $2.86 80...
The graph presents the short-run costs and revenue for a monopolistically competitive firm. Use this information to determine the profit-maximizing output and profit for this firm in the short run Cost and revenue $800 750 700 650 600 550 500 450 400 350 300 250 200 150 100 50 Average total cost Marginal cost What is the profit-maximizing output of this monopolistically competitive firm? Round your answer to the nearest whole number units of output Demand What is the maximum...
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