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please show formulas/work used. 8 Use the following information to: 4. Revenues and Costs a. Complete the firm table b....
show all steps and formulas VC A product in a perfectly competitive market is $6. Assume...
show all steps and formulas
VC A product in a perfectly competitive market is $6. Assume the firm is subject to the following outputs and cost MR= TC MC= ATC Profit/Loss ATR/AQ ATR/AQ 200 250 12.5 -130 399 500 600 700 850 158 1000 191 1200 16 219 1700 7.76 II. Complete the table Plot the demand, MR, ATC and MC curves on a graph. Identify the profit maximizing output and price. Is this firm maximizing profits? Explain Can this...
3) For each a -d provide the plot and indicate the maximized profit and label all...
3) For each a -d provide the plot and indicate the maximized
profit and label all curves, show price and other detail as the
slides and book do
a. Competitive market
b. Monopoly
c. Competitive Monopoly
d. Oligopoly.
Quantity (Q) Price (P) Total Revenue (TR) Fixed Cost (FC) Variable Cost (VC) Average Total Cost Variable Cost (TC) (AVC) Profit (TR-TC) Marginal Marginal Change in Revenue Cost Profit (MR) (MC) (MR-MC) 00 00 1 2 00 16 2.5 7 00 00...
show all steps and formulas The table below shows the cost and revenue data for a...
show all steps and formulas
The table below shows the cost and revenue data for a firm in a perfect competitive market. Q Profit/ TR. MR MC ATC VC AVC Loss 0 20 50 68 2. 88 3 104 4 118 130 6 147 7 167 8 199 239 10 293 Complete the table State the profit maximizing quantity and total revenue at this point. State the shutdown rule and provide the shutdown point Calculate the AFC of this firm...
Please show formulas if used. Will rate thanks! 8. For the firm depicted in the graph,...
Please show formulas if used. Will rate thanks!
8. For the firm depicted in the graph, calculate the profit maximizing quantity and price, and the resulting AR, ATC, TR, TC, and profit. 160.. UUUUUUUUUUUUUUUUU 140 4TC LILIT Demand Haddiman to the questions listed above the follow problems t he textbook laten Tecomence, Thounew IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII VIR 100 133.33 154.92 QUI
EXERCISE A: Answer ONLY ONE OF the following. (10 points) 1- Construct a list of the...
EXERCISE A: Answer ONLY ONE OF the following. (10 points) 1- Construct a list of the attributes of each market structure. 2-Assemble a list of firms from which you buy products in each of the four market structures. EXERCISE B: Answer ANY 5 (40 points- 8 points each) 1. Below is a cost and revenue table for a perfectly competitive firm producing purple- spotted people eaters, Fill in the missing information assuming that market price is $24. MR TR Profit...
4. Profit maximization in the cost-curve diagram Aa Aa Consider a perfectly competitive market for teddy...
4. Profit maximization in the cost-curve diagram Aa Aa Consider a perfectly competitive market for teddy bears. The following graph shows the daily cost curves of a firm operating in this market. PRICE (Dollars per bear) 20 Profit or Loss MC 16 ATC 12 AVC 8 4 010 20 30 40 50 60 OUTPUT (Thousands of bears) Help Clear ALL In the short run, at a market price of $18 per bear, this firm will choose to produce bears per...
Help Search 1 3 4 5 20.0 6 The table below shows the cost information for...
Help Search 1 3 4 5 20.0 6 The table below shows the cost information for a firm in a perfectly competitive industry. What would be the shut down price for this firm? Q FC VC TC MC AFC AVC ATC 0 100 100 100 16 116 16 100.0 16.0 116.0 2 100 30 130 14 50.0 15.0 65.0 100 42 142 12 33.3 14.0 47.3 100 56 156 14 25.0 14.0 39.0 100 72 172 16 14.4 34.4 100...
Seard 14 Firms in competitive markets Homework Assignment < Back to Assignment Attempts: 0 0 Keep...
Seard 14 Firms in competitive markets Homework Assignment < Back to Assignment Attempts: 0 0 Keep the Highest: 0/17 4. Profit maximization in the cost-curve diagram Aa Aa Consider a perfectly competitive market for black hoodies. The following graph shows the daily cost curves of a firm operating in this market. PRICE (Dollars per hoodiel 20 Profit or Loss MC 16 ATC 12 AVC 4 2 4 6 8 10 12 OUTPUT (Thousands of hoodies Help Clear All In the...
show all steps and formulas
VC A product in a perfectly competitive market is $6. Assume the firm is subject to the following outputs and cost MR= TC MC= ATC Profit/Loss ATR/AQ ATR/AQ 200 250 12.5 -130 399 500 600 700 850 158 1000 191 1200 16 219 1700 7.76 II. Complete the table Plot the demand, MR, ATC and MC curves on a graph. Identify the profit maximizing output and price. Is this firm maximizing profits? Explain Can this...
3) For each a -d provide the plot and indicate the maximized
profit and label all curves, show price and other detail as the
slides and book do
a. Competitive market
b. Monopoly
c. Competitive Monopoly
d. Oligopoly.
Quantity (Q) Price (P) Total Revenue (TR) Fixed Cost (FC) Variable Cost (VC) Average Total Cost Variable Cost (TC) (AVC) Profit (TR-TC) Marginal Marginal Change in Revenue Cost Profit (MR) (MC) (MR-MC) 00 00 1 2 00 16 2.5 7 00 00...
show all steps and formulas
The table below shows the cost and revenue data for a firm in a perfect competitive market. Q Profit/ TR. MR MC ATC VC AVC Loss 0 20 50 68 2. 88 3 104 4 118 130 6 147 7 167 8 199 239 10 293 Complete the table State the profit maximizing quantity and total revenue at this point. State the shutdown rule and provide the shutdown point Calculate the AFC of this firm...
Please show formulas if used. Will rate thanks!
8. For the firm depicted in the graph, calculate the profit maximizing quantity and price, and the resulting AR, ATC, TR, TC, and profit. 160.. UUUUUUUUUUUUUUUUU 140 4TC LILIT Demand Haddiman to the questions listed above the follow problems t he textbook laten Tecomence, Thounew IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII VIR 100 133.33 154.92 QUI
EXERCISE A: Answer ONLY ONE OF the following. (10 points) 1- Construct a list of the attributes of each market structure. 2-Assemble a list of firms from which you buy products in each of the four market structures. EXERCISE B: Answer ANY 5 (40 points- 8 points each) 1. Below is a cost and revenue table for a perfectly competitive firm producing purple- spotted people eaters, Fill in the missing information assuming that market price is $24. MR TR Profit...
4. Profit maximization in the cost-curve diagram Aa Aa Consider a perfectly competitive market for teddy bears. The following graph shows the daily cost curves of a firm operating in this market. PRICE (Dollars per bear) 20 Profit or Loss MC 16 ATC 12 AVC 8 4 010 20 30 40 50 60 OUTPUT (Thousands of bears) Help Clear ALL In the short run, at a market price of $18 per bear, this firm will choose to produce bears per...
Help Search 1 3 4 5 20.0 6 The table below shows the cost information for a firm in a perfectly competitive industry. What would be the shut down price for this firm? Q FC VC TC MC AFC AVC ATC 0 100 100 100 16 116 16 100.0 16.0 116.0 2 100 30 130 14 50.0 15.0 65.0 100 42 142 12 33.3 14.0 47.3 100 56 156 14 25.0 14.0 39.0 100 72 172 16 14.4 34.4 100...
Seard 14 Firms in competitive markets Homework Assignment < Back to Assignment Attempts: 0 0 Keep the Highest: 0/17 4. Profit maximization in the cost-curve diagram Aa Aa Consider a perfectly competitive market for black hoodies. The following graph shows the daily cost curves of a firm operating in this market. PRICE (Dollars per hoodiel 20 Profit or Loss MC 16 ATC 12 AVC 4 2 4 6 8 10 12 OUTPUT (Thousands of hoodies Help Clear All In the...
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