Question
please show work
Shanno 4. Suppose a firm is producing 5 units of output, and V is 15 What is 5. Suppose that when a firm adds 2 units of Lit
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Ave- re _ 18 = 3 Vos u. Cs und = 10 ATC = 4 T=uk5=20 Lo=0 then profit = - Tre lors of TFC = 2000=10 Coss of $10. AP=2 , Aucu

Add a comment
Know the answer?
Add Answer to:
please show work Shanno 4. Suppose a firm is producing 5 units of output, and V is 15 What is 5. Suppose that when a...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • A firm is producing 4 units of output at an average total cost of $45. When...

    A firm is producing 4 units of output at an average total cost of $45. When the firm produces 5 units of output, average total cost rises to $50. What is the marginal cost of the fifth unit of output? $10 $25 $45 $70

  • A firm is producing 4 units of output at an average total cost of $50. When...

    A firm is producing 4 units of output at an average total cost of $50. When the firm produces 5 units of output, average total cost falls to $45. What is the marginal cost of the fifth unit of output? A. $10 B. $25 C. $45 D. $70

  • stion 11 Suppose the a purely competitive firm is producing 100 units of output and that...

    stion 11 Suppose the a purely competitive firm is producing 100 units of output and that P = $10 and MC = $8 at this level of output. Answer questions #17 - #19 using this information. wered nts out of 5 Flag #17) Is the firm maximizing profits? Explain your answer. Answer: No, profit is - $200 dollars to 12 Lot yet answered #18) Suppose you discover that average fixed costs are $2 and average variable costs are $7. Indicate...

  • Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q)...

    Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q) = 3 + 2q. Assume that the market price (P) of the firm's product is $15. What level of output (q) will the firm produce? The firm will produce units of output. (Enter your response rounded to two decimal places.) What is the firm's producer surplus? Producer surplus (PS) is $ . (Enter your response rounded to two decimal places.) Suppose that the average...

  • Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q)...

    Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q) = 6 +29. Assume that the market price (P) of the firm's product is $18. What level of output (q) will the firm produce? The firm will produce 6.00 units of output. (Enter your response rounded to two decimal places.) What is the firm's producer surplus? Producer surplus (PS) is $ 36.00. (Enter your response rounded to two decimal places.) Suppose that the average...

  • If a perfectly competitive firm is producing 150 units of output at a price of P=$20,...

    If a perfectly competitive firm is producing 150 units of output at a price of P=$20, where the MC of the 150th unit of output is MC=$20, the ATC of the 150th unit is ATC=$10, and the AVC of the 150th unit is AVC=$8, then which of the following statements is not correct? a. The firm should shut down when the price is less or equal to $8. b. The firm is producing at the profit maximizing level of output....

  • MC TVC AFC AVC ATC TC Output TFC $500 $200 1 2 $800 $75 $875 $925...

    MC TVC AFC AVC ATC TC Output TFC $500 $200 1 2 $800 $75 $875 $925 $75 100 Refer to an above table. What is the average variable cost of producing three units of the output? $291.67 o $125 $100 $166.67 问题3 29 问题3 AVC ATC MC AFC Output TVC TC TFC $500 $200 $800 2 $75 $875 4 $925 5 100 $75 Which of the following is correct for this firm with the cost structure presented in the table...

  • Problem3 In the short run, a firm's total costs of producing 5 units of output equal...

    Problem3 In the short run, a firm's total costs of producing 5 units of output equal $95. If it produces 6 units its total costs will increase to $117.88. See pages 491-497 a. What is the marginal cost of the 6th unit of output? b. What is the firm's average total cost of producing 5 units? c. What is the firm's average total cost of producing 6 units? d) How is it that the average cost is increasing? Please explain.

  • Refer to the following table. What is the average variable cost of producing three units of...

    Refer to the following table. What is the average variable cost of producing three units of the good? Output Total Fixed Cost Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost 1 — — — — — — — 2 — — $600 — — — — 3 — — — — ????? — $20 4 — $440 — — — — — 5 $500 — — — — — — a. $20...

  • e) Suppose that a competitive firm's marginal cost of producing output q is given by MC(q)...

    e) Suppose that a competitive firm's marginal cost of producing output q is given by MC(q) -3+2q. Assume that the market price of the firm's product is $9. i) What level of output will the firm produce? (2p) ii) What is the firm's producer surplus? (4p) ii) Suppose that the average variable cost of the firm is given by AVC(g)-3+q. Suppose that the firm's fixed costs are known to be $3. Will the firm be earning a positive, negative, or...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT