Homework Answers
Answer
Option d
there is insufficient information
Total profit =sum of marginal profit=sum of (MR-MC)
but the provided MR and MC after 11th units so it can not be
found
also, Profit=(ATC-P)*Q=TR-TC
but nothing is provided from these formulae so it is not possible
to calculate.
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need help asap!!! 39. Chapter mazpe08r, Section 142, Problem 025 (ID: 025.14.2 - MC - MANK08) Table 14-7 Suppose th...
3. Chapter ma2pe08r, Section .261, Problem 130 (ID: 130.26.1-MC- MANK08) Use the following table ...
3. Chapter ma2pe08r, Section .261, Problem 130 (ID: 130.26.1-MC- MANK08) Use the following table to answer the following questions. Table 26-2 tock ym Id % PE ol 1000s Hi et ose hg 1.90 19.83 10,325 05.65 103.10 101.87 1.99 1.45 0.02 6.69 0.04 6.50 0.12 ing Co. li Lily and Co. 1.72 51.17 6.51 57.75 6.69 LY .80 12.41 ,794 .50 60 142 1,078 ft Foods Group ellogg Co. 6.18 80 25 Refer to Table 26-2. Which company had the...
20. Chapter ma2pe08r, Section .281, Problem 177 (ID: 177.28.1 - MC - MANK08) Table 28-6 Civilian labor...
20. Chapter ma2pe08r, Section .281, Problem 177 (ID:
177.28.1 - MC - MANK08)
Table 28-6
Civilian labor force
100 million
Persons unemployed 15 weeks or longer
1.6 million
Job losers and persons who have completed temporary jobs
(excludes job leavers)
3.1 million
Total unemployed
6.2 million
Total unemployed plus discouraged workers
7.0 million
Total unemployed plus all marginally attached workers
8.1 million
Total unemployed plus all marginally attached workers plus
total employed part-time for economic reasons
9.2 million
Refer to Table...
QUESTION 11 Consider the following table: Quantity Price Marginal Revenue TC ATC MC Suppose that the...
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Figure 14-5 Suppose a firm operating in a competitive market has the following cost curves: Price...
Figure 14-5 Suppose a firm operating in a competitive market has the following cost curves: Price MC ATC AVC Q1 02 03 04 05 Quantity Refer to Figure 14-5. When market price is P2, a profit-maximizing firm's losses can be represented by the area a. At a market price of P2, the firm earns profits, not losses. b. At a market price of P2 the firm has losses, but the reference points in the figure don't identify the losses. C....
Table 14-9 Suppose that a firm in a competitive market faces the following revenues and costs:...
Table 14-9 Suppose that a firm in a competitive market faces the following revenues and costs: Quantity 0 Total Revenue $0 $8 $16 21 3 Total Cost $5 $9 $14 $20 $27 $35 $44 $32 5 $48 7 $56 8 $64 9 $72 Refer to Table 14-9. At which quantity of output is marginal revenue equal to marginal cost? A. 9 units $72 B. 7 units C. 3 units s units
Refer to the information provided in Table 8.5 below to answer the following questions. Table 8.5 Number of Frui...
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Suppose the government imposes a tax on cheese. The deadweight loss from this tax will likely...
Suppose the government imposes a tax on cheese. The deadweight loss from this tax will likely be greater in the a. eighth year after it is imposed than in the first year after it is imposed because demand and supply will be more elastic in the first year than in the eighth year. b. first year after it is imposed than in the eighth year after it is imposed because demand and supply will be more elastic in the first...
These three questions please Question 37 (1 point) Table 16-1 A monopolistically competitive firm faces the...
These three questions please
Question 37 (1 point) Table 16-1 A monopolistically competitive firm faces the following demand curve for its product: Price (S) 10 4 8 7 6 16 8 10 5 12 4 14 3 16 2 18 20 1 Refer to Table 16-1. The firm has total fixed costs of $20 and a constant marginal cost of $5 per unit. What will the firm do? It will produce 2 units; firms will exit the market in the...
Econ 250 Chapter 8 Homework Name 1. (2.5 points) The following table shows a short-run production...
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SHOW EXCEL FORMULAS Problem Instructions Description: oblem, you will calculate the costs and profits in two...
SHOW EXCEL FORMULAS
Problem Instructions Description: oblem, you will calculate the costs and profits in two different situations with a specific tax and without it. Also, you will determine whe Perform: Instructions 1 Start Excel 2 In cell D16, by using relative and absolute cell references, calculate the price for the output in cell C16. Copy the formula from cell D 3 In cell E16, by using cell references, calculate the price elasticity of demand for the output in cell...
3. Chapter ma2pe08r, Section .261, Problem 130 (ID: 130.26.1-MC- MANK08) Use the following table to answer the following questions. Table 26-2 tock ym Id % PE ol 1000s Hi et ose hg 1.90 19.83 10,325 05.65 103.10 101.87 1.99 1.45 0.02 6.69 0.04 6.50 0.12 ing Co. li Lily and Co. 1.72 51.17 6.51 57.75 6.69 LY .80 12.41 ,794 .50 60 142 1,078 ft Foods Group ellogg Co. 6.18 80 25 Refer to Table 26-2. Which company had the...
QUESTION 11 Consider the following table: Quantity Price Marginal Revenue TC ATC MC Suppose that the firm competes in a perfectly competitive market. Suppose that you observe the firm maximizing its profit at 8 units of output. Determine the market price and the firm's corresponding profit. O Price is 8, and profit is 27 O Price is 6, and profit is 14 O Price is 4, and profit is O Cannot be determined from the information given.
Figure 14-5 Suppose a firm operating in a competitive market has the following cost curves: Price MC ATC AVC Q1 02 03 04 05 Quantity Refer to Figure 14-5. When market price is P2, a profit-maximizing firm's losses can be represented by the area a. At a market price of P2, the firm earns profits, not losses. b. At a market price of P2 the firm has losses, but the reference points in the figure don't identify the losses. C....
Table 14-9 Suppose that a firm in a competitive market faces the following revenues and costs: Quantity 0 Total Revenue $0 $8 $16 21 3 Total Cost $5 $9 $14 $20 $27 $35 $44 $32 5 $48 7 $56 8 $64 9 $72 Refer to Table 14-9. At which quantity of output is marginal revenue equal to marginal cost? A. 9 units $72 B. 7 units C. 3 units s units
Refer to the information provided in Table 8.5 below to answer the following questions. Table 8.5 Number of Fruit Baskets 60 10 TFC TVC TCMC $50 SO 50 10 50 15 655 50 21716 8110 96 15 68 118 22 16) Refer to Table 8.5. Assume that fruit baskets are sold in a perfectly competitive market. The market price of a fruit basket is $22. To maximize profits, Exotic Fruit should sell_ fruit baskets and their profit is A) three;...
Suppose the government imposes a tax on cheese. The deadweight loss from this tax will likely be greater in the a. eighth year after it is imposed than in the first year after it is imposed because demand and supply will be more elastic in the first year than in the eighth year. b. first year after it is imposed than in the eighth year after it is imposed because demand and supply will be more elastic in the first...
These three questions please
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SHOW EXCEL FORMULAS
Problem Instructions Description: oblem, you will calculate the costs and profits in two different situations with a specific tax and without it. Also, you will determine whe Perform: Instructions 1 Start Excel 2 In cell D16, by using relative and absolute cell references, calculate the price for the output in cell C16. Copy the formula from cell D 3 In cell E16, by using cell references, calculate the price elasticity of demand for the output in cell...
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