Homework Answers
For Profit maximization, we set P = MC, to find output for profit maximization
At the given point m, P = MC, so first option is correct
Also P = ATC the point m, So profit = 0 as TR = TC
So second option is also correct
Therefore first and second option are correct
Add Answer to:
Price ATC MC AVC Qo DD Лuanth Refer to the diagram above. At the point marked m. O price is determining production...
Question 26 5 pts Price ATC MC AVC DD . m 0 Quantity Refer to the...
Question 26 5 pts Price ATC MC AVC DD . m 0 Quantity Refer to the diagram above. At the point markede, o price is determining production at a level where P = AVC o TR is exactly equal to TC, so profits equal zero. o price is above average cost of production. o the leftover rectangle is the profit earned. Question 28 4 pts The following figure shows the average cost curve, demand curve, and marginal revenue curve for...
Question 13 Not yet answered Marked out of 5.00 P Flag question MC ATC AVC Refer...
Question 13 Not yet answered Marked out of 5.00 P Flag question MC ATC AVC Refer to the above graph. At which point does marginal product (MP) equal average produdt (AP) at a level of output?
MC Price and Cost ATC 11 11 11 ONI In the above figure, if price is...
MC Price and Cost ATC 11 11 11 ONI In the above figure, if price is equal to P 4, the firm will o earn positive economic profits. o incur an economic loss. o shut down. o earn zero economic profits.
Did I do this correctly? ATC AVC Dollars D AFC o Quantity Refer to the above...
Did I do this correctly?
ATC AVC Dollars D AFC o Quantity Refer to the above diagram. At output level Q, total variable cost is: A) OBEQ. B) BCDE. C) OCDQ. D) QAFQ. Refer to the above diagram. At output level Q, total fixed cost is A) OBEQ. B) BCDE. C) OBEQ-0AFQ. D) OCDQ. Refer to the above diagram. At output level Q, total cost is: A) OBEQ. B) BCDE. C) OBEQ plus BCDE. D) QAFQ plus BCDE. Refer to...
AVC мс Р умс LAT ATC SAVCP (m) 0 0 Refer to the graphs above of...
AVC мс Р умс LAT ATC SAVCP (m) 0 0 Refer to the graphs above of perfectly competitive firms. Which graph(s) depict situations in which market prices will fall in the future: O il and I because the firms in both graphs will immediately shutdown and some firms in the industry will exit causing the price to fall O I because firms are making economic profits, which will entice firms to enter the industry and subsequently cause the market price...
1. In the short run production function of a firm, MC, ATC, and AVC curves are...
1. In the short run production function of a firm, MC, ATC, and AVC curves are usually U Shaped because of: a. diminishing marginal product of variable input as output produced rises. b. increasing marginal product c. the fact that increasing marginal product follows decreasing marginal product d. the fact that decreasing marginal product follows increasing marginal product. 2. Perfectly Competitive market is considered to be efficient in the LR because, among others,: a. MR=MC=P b. MC=P=Minimum ATC c. Produces...
A government might choose to implement a price floor to O A. keep specific prices up....
A government might choose to implement a price floor to O A. keep specific prices up. O B. satisfy notions of equity. O c. give into powerful political groups. OD. All of the above have served as motivations. Demand and Supply Schedules for Chocolate Bars Price Quantity Demanded Quantity Supplied ($) (thousands per week) (thousands per week) 2.00 1500 2100 1.80 1600 2050 1.60 1700 2000 1.40 1800 1950 1.20 1900 1900 1.00 2000 1850 0.80 2100 1800 0.60 2200...
Question 26 5 pts Price ATC MC AVC DD . m 0 Quantity Refer to the diagram above. At the point markede, o price is determining production at a level where P = AVC o TR is exactly equal to TC, so profits equal zero. o price is above average cost of production. o the leftover rectangle is the profit earned. Question 28 4 pts The following figure shows the average cost curve, demand curve, and marginal revenue curve for...
Question 13 Not yet answered Marked out of 5.00 P Flag question MC ATC AVC Refer to the above graph. At which point does marginal product (MP) equal average produdt (AP) at a level of output?
MC Price and Cost ATC 11 11 11 ONI In the above figure, if price is equal to P 4, the firm will o earn positive economic profits. o incur an economic loss. o shut down. o earn zero economic profits.
Did I do this correctly?
ATC AVC Dollars D AFC o Quantity Refer to the above diagram. At output level Q, total variable cost is: A) OBEQ. B) BCDE. C) OCDQ. D) QAFQ. Refer to the above diagram. At output level Q, total fixed cost is A) OBEQ. B) BCDE. C) OBEQ-0AFQ. D) OCDQ. Refer to the above diagram. At output level Q, total cost is: A) OBEQ. B) BCDE. C) OBEQ plus BCDE. D) QAFQ plus BCDE. Refer to...
AVC мс Р умс LAT ATC SAVCP (m) 0 0 Refer to the graphs above of perfectly competitive firms. Which graph(s) depict situations in which market prices will fall in the future: O il and I because the firms in both graphs will immediately shutdown and some firms in the industry will exit causing the price to fall O I because firms are making economic profits, which will entice firms to enter the industry and subsequently cause the market price...
A government might choose to implement a price floor to O A. keep specific prices up. O B. satisfy notions of equity. O c. give into powerful political groups. OD. All of the above have served as motivations. Demand and Supply Schedules for Chocolate Bars Price Quantity Demanded Quantity Supplied ($) (thousands per week) (thousands per week) 2.00 1500 2100 1.80 1600 2050 1.60 1700 2000 1.40 1800 1950 1.20 1900 1900 1.00 2000 1850 0.80 2100 1800 0.60 2200...
Most questions answered within 3 hours.
-
A pendulum is made up of a small sphere of mass 0.500 kg
attached to a...
asked 19 minutes ago -
Given a pn junction with both thin p-type and n-type materials
such that Wn and Wp...
asked 18 minutes ago -
it was discussed that animals should be treated the same as
humans, that pain is pain,...
asked 19 minutes ago -
The vapor pressure of water at 20°C is 17.54 torr. Calculate the
vapor pressure (in torr)...
asked 41 minutes ago -
In python:
Create a list called numten that contains ten numbers go through
the list and...
asked 33 minutes ago -
Suppose you just bought the new Windoze 8 and that you realize
that it really sucks....
asked 35 minutes ago -
Hi,
can someone please explain to me the time complexity of an
algorithm specially big O...
asked 41 minutes ago -
Python
Prompt the
user to enter a step size to step down by. Write a while
loop...
asked 41 minutes ago -
Demonstrate the power of the Containment Theory of Walter
Reckless with regard to the idea of...
asked 53 minutes ago -
Case 3: New Retail Strategy
September 2010: American retailers are cutting expenses to
maintain stable profits...
asked 1 hour ago -
What do you expect to happen when acetylacetone reacts with a
base? Draw structures of the...
asked 1 hour ago -
What is meant by biocultural evolution? what examples will
better describe how it might have influenced...
asked 1 hour ago