My company is producing at an output level at which ATC = $5, P = $6,...
My company is producing at an output level at which ATC = $5, P
= $6, MC = $3, and
MR = $4.
How am I doing? Is there anything you'd recommend that I change as
far as production goes (e.g. produce more, produce less, shut
down)? Please think, and then answer in as much detail as
possible.
***********Can you say anything about the kind of market in which my product is being sold? Can you say anything about the kind of market in which my product is NOT being sold? If you do have an opinion on this, please explain why you have chosen this particular answer.**********
Homework Answers
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My company is producing at an output level at which ATC = $5, P
= $6,...
QUESTION 5 A monopolistically competitive firm will: maximize profits by producing where MR = MC. not...
QUESTION 5 A monopolistically competitive firm will: maximize profits by producing where MR = MC. not likely earn an economic profit in the long run. shut down in the short run if price is less than average variable cost. all of the above. QUESTION 6 A monopolistic competitive firm is inefficient because the firm: earns positive economic profit in the long run. is producing at an output corresponding to the condition that marginal cost equals price. is not maximizing its...
1) 1) A single-price monopolist is currently producing an output level where P-520, MR = $13,...
1) 1) A single-price monopolist is currently producing an output level where P-520, MR = $13, ATC = $15, and MC = $14. In order to maximize profits, this monopolist should A) shut down B) decrease production and increase price. C) not change his output level, because he is currently at the profit-maximizing output level. D) increase production and reduce price. E) there is insufficient information to make a recommendation 2) 2) Consider a monopolist that is able to distinguish...
Question 19 5 pts Р MC ATC P D = MR 0 Refer to the accompanying...
Question 19 5 pts Р MC ATC P D = MR 0 Refer to the accompanying graphs for a competitive market in the short run. Which of the following statements is true? o The representative firm will increase production. o The representative firm is experiencing economic losses. o The representative firm is breaking even. o The representative firm is making economic profits. Question 22 6 pts Total Product 2 الحية 4 Average Fixed Cost $150.00 75.00 50.00 37.50 30.00 25.00...
5:42 luET 09. Which statement is true? A. Economies of scale are more common when Q...
5:42 luET 09. Which statement is true? A. Economies of scale are more common when Q is low and occur when increasing production lowers ATC as for natural monopolies. B. Diseconomies of scale are more common when Q is high and occur when increasing production decreases ATC as for natural monopolies. C. Economies of scale are more common when Q is high and occur when increasing production increases ATC as in a perfect competition framework. D. Diseconomies of scale are...
Please mark ALL correct answers A) Pure monopoly is supported by far-away (large) minimum efficiency scales...
Please mark ALL correct answers A) Pure monopoly is supported by far-away (large) minimum efficiency scales B) Pure monopoly requires blocked entry, else economic profits would invite competition Smaller the minimum efficiency scale, stronger the monopoly D) Patents may help creating a monopoly CD) Pure monopoly requires no close substitutes, else substitute product will create competition Please match feature with market type Demand for market and individual producer coincide A) Monopoly B) Competitive Flat demand for individual producer C) Both...
Where does profit and loss go for each graph, I also want to make sure my...
Where does profit and loss go for each graph, I also want to
make sure my numbers are accurate, and please check over what I
have done so far thank you!
4. Protit 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...
An industry currently has 100 firms, all of which have fixed cost of $16 and average variable cost as follows: Quantity / Average variable cost: (1/$1),(2,$2), (3,$3), (4,$4), (5,$5), and (6,$6) b
10. An industry currently has 100 firms, all of which have fixed cost of $16 and average variable cost as follows: Quantity / Average variable cost: (1/$1),(2,$2), (3,$3), (4,$4), (5,$5), and (6,$6) b. The price is currently $10. What is the total quantity supplied in the market? I think that it is zero because the currently price does meet no exceed the average total cost, which is for the quantity 1, $17. Is this correct. c. As this market makes...
please respond to this with personal experince kind of replying to this.subject psychiatry nursing. I would...
please respond to this with personal experince kind of
replying to this.subject psychiatry nursing.
I would definitely say I have had a close friend in my life who was very manipulative. She would want me to only spend time with her, and none of my other friends. Not only this, but she always made me feel bad for hanging out with my other friends or family. I would always have to reiterate to her that I do have other friends...
Gender and the Workplace My name is Rebecca. The first summer after receiving my MBA degree,...
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1. Explain why we can measure the GDP or output of a country by adding up...
1. Explain why we can measure the GDP or output of a country by adding up either the market value of production in that country or by adding up the income earned by people in that country. (Helpful hint: Remember when I used the example in class about two shoemakers, one who can produce 4 pairs of shoes per day and another who can produce 5 pairs per day. All the pairs of shoes are identical in quality.) 2. What...
1) 1) A single-price monopolist is currently producing an output level where P-520, MR = $13, ATC = $15, and MC = $14. In order to maximize profits, this monopolist should A) shut down B) decrease production and increase price. C) not change his output level, because he is currently at the profit-maximizing output level. D) increase production and reduce price. E) there is insufficient information to make a recommendation 2) 2) Consider a monopolist that is able to distinguish...
Question 19 5 pts Р MC ATC P D = MR 0 Refer to the accompanying graphs for a competitive market in the short run. Which of the following statements is true? o The representative firm will increase production. o The representative firm is experiencing economic losses. o The representative firm is breaking even. o The representative firm is making economic profits. Question 22 6 pts Total Product 2 الحية 4 Average Fixed Cost $150.00 75.00 50.00 37.50 30.00 25.00...
5:42 luET 09. Which statement is true? A. Economies of scale are more common when Q is low and occur when increasing production lowers ATC as for natural monopolies. B. Diseconomies of scale are more common when Q is high and occur when increasing production decreases ATC as for natural monopolies. C. Economies of scale are more common when Q is high and occur when increasing production increases ATC as in a perfect competition framework. D. Diseconomies of scale are...
Please mark ALL correct answers A) Pure monopoly is supported by far-away (large) minimum efficiency scales B) Pure monopoly requires blocked entry, else economic profits would invite competition Smaller the minimum efficiency scale, stronger the monopoly D) Patents may help creating a monopoly CD) Pure monopoly requires no close substitutes, else substitute product will create competition Please match feature with market type Demand for market and individual producer coincide A) Monopoly B) Competitive Flat demand for individual producer C) Both...
Where does profit and loss go for each graph, I also want to
make sure my numbers are accurate, and please check over what I
have done so far thank you!
4. Protit 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...
please respond to this with personal experince kind of
replying to this.subject psychiatry nursing.
I would definitely say I have had a close friend in my life who was very manipulative. She would want me to only spend time with her, and none of my other friends. Not only this, but she always made me feel bad for hanging out with my other friends or family. I would always have to reiterate to her that I do have other friends...
1. Explain why we can measure the GDP or output of a country by adding up either the market value of production in that country or by adding up the income earned by people in that country. (Helpful hint: Remember when I used the example in class about two shoemakers, one who can produce 4 pairs of shoes per day and another who can produce 5 pairs per day. All the pairs of shoes are identical in quality.) 2. What...
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