Correct Answer:
C
At point H, MR equals MC and it is the condition for profit maximization and or to minimize the losses.
At this intersection point of H,
Price = OA
Quantity = OE
In order to maximize profits or minimize losses this firm will produce: a. OK units at...
Refer to the table below to answer the questions. qTFCTVCTCMCAVCATC0$100 $0$100 ---- -- 1100401404040 140 21006016020 30 80 31009019030 30 63.334100124 224 343156 5100180 280 56 36 56 6100 264 364 84 44 60.677100 372 472 108 53.14 67.43 2.1) If the market price is $20, then this firm will maximize profits by producing ________ units of output. (1M)2.2) If the market price is $84, then this firm will maximize profits by producing ________ unit(s) of output and its profits will be ________. (1M)2.3) If the market price is $84, then in the long run...
The figure to the right depicts the short run outcome for a firm in a monopolitically competitive Industry To maximize profits this firm should produce units of output (Enter your response rounded to the nearest whole number) Monopolistically Competitive Firm MC 126 116 SRATC Dollar per un 2 D a MR 104 0 48 Output Which of the following applies to both monopolistic competition and perfect competition? OA. Non-price competition is common OB. All firms sell an identical product OC....
Question 209 pts Refer to the graph above. To maximize profits, this firm would produce E units, which will result in economic profits equal to ABGH E units, which will result in a loss equal to ACFH D units, which will result in a loss equal to ABGH D units, which will result in economic profits equal to BCFG
Question 8 (Mandatory) (5 points) MC ATC AVC 13 MR Price 00 6 4 0 10 15 28 31 20 Quantity Reference: Ref 24-3 In the figure above, to maximize profits or minimize losses the firm should produce units. OA) 15 B) 20 C) 28 OD 10 Question 11 (Mandatory) (5 points) MC ATC AVC 13- MR Price 9 8 A 0 4 10 15 28 20 Quantity Reference: Ref 24-3 In the figure above, the firm A) could make...
In order to maximize profit, a firm (in any market structure) should produce where A. Price equals marginal cost B. Marginal revenue equals marginal cost C. Price equals average total cost. D. Average total cost is minimized
Suppose the total cost function for a firm is given by C (Q) = 100 + Q2. If the firm sells its output in a perfectly competitive market at a price of $10, what level output should the firm produce to maximize profits or minimize losses? What will be the level of profits or losses if the firm makes the optimal decision?
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Select the order that has the following labeled protons correctl arranged with respect to increasing acidity. Enter Your Answer: A OB OC OD OE OF Which of the following compounds is the most acidic? Enter Your Answer: A OB OC OD OE Select the major products of the following reaction. A 1and2 B 2only C 1and3 D 2and4 E 3and4 F al of them Enter Your Answer: A OB OC OD OE OF Choose the...
Question 1. A perfectly competitive firm seeking to maximize its profits would want to maximize the difference between? Select one: a. either a or d. b. its marginal revenue and its marginal cost. c. its total revenue and its total cost. d. its average revenue and its average cost. e. its price and its marginal cost. Question text 2. A profit-maximizing monopolist sets? Select one: a. output where demand equals average total cost. b. output where marginal cost equals average...
Use the following to answer questions 14-16: Costs for Toy-Making Firm ATC AVC AFC MC 8 40 54 66 76 84 91 96 93.75 58.82 46.30 37.50 32.41 30.30 29.61 29.76 30.22 31.25 31.25 29.41 27.78 25.00 23.15 22.73 23.03 23.81 24.73 26.04 62.50 29.41 18.52 12.50 9.26 7.58 6.58 5.95 5.49 5.21 31.25 27.78 25.00 19.23 17.86 20.83 25.00 31.25 35.71 50.00 14. (Table) If the toy-making firm in the table faces a market price of $20 in the...
a The industry A representative firm MC a 9 9 ATC AVC 9 Price (5) Price (5) 6 D2 D: Bushels of wheat 101213 15 Bushels of wheat f demand for wheat is D then a profit maximizing firm will produce units and earn O A. 10; negative profits OC. 0; negative profits OB. 12; positive profits OD. 5, zero profits Click to select your answer.