Homework Answers
| P | Q | TR | MR |
| 115 | 0 | 0 | |
| 100 | 1 | 100 | 100 |
| 83 | 2 | 166 | 66 |
| 71 | 3 | 213 | 47 |
| 63 | 4 | 252 | 39 |
| 55 | 5 | 275 | 23 |
| 48 | 6 | 288 | 13 |
| 42 | 7 | 294 | 6 |
| 37 | 8 | 296 | 2 |
| 33 | 9 | 297 | 1 |
| 29 | 10 | 290 | -7 |
b) Setting MC=MR, the profit maximizing price = 55
output = 5
c) Profits = P-ATC*Q = (55-49)*5 = 30
Add Answer to:
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown...
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown...
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown on the right a. Calculate the missing total-revenue and marginal-revenue amounts. 30.00 Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Production and Costs Demand Total Average Fixed Average Average Total Marginal Quantity Price Marginal Total...
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown...
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown on the right a. Calculate the missing total-revenue and marginal-revenue amounts 66.00 Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Production and Costs Demand Total Average Fixed Average Average Total Marginal Quantity Total Marginal Price...
MON Pegamy sy DUO Tao u are nok aatio juodu a je stopoulos pue 2. Assume the following cost data are for a purely compe...
MON Pegamy sy DUO Tao u are nok aatio juodu a je stopoulos pue 2. Assume the following cost data are for a purely competitive producer: Total Average Average Product Fixed Cost Variable Cost Averto Total Cost Marginal Cost $45 $60.00 30.00 20.00 15.00 12.00 10.00 8.57 7.50 6.67 6.00 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 a. At a product price of $58, will this firm...
Assume the following cost data are for a purely competitive producer: Average fixed Total Product Average...
Assume the following cost data are for a purely competitive producer: Average fixed Total Product Average variable cost Average total cost Marginal cost cost $45 40 can AWN $60.00 30.00 20.00 15.00 12.00 10.00 8.57 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 7.50 6.67 6.00 (1) (3) (2) Quantity supplied, single firm (4) Quantity supplied, 1500 firms Price Profit (+) or loss (1) $26 32 e. Explain:...
Use the cost data to complete the charts. Assume that the following cost data are for...
Use the cost data to complete the charts.
Assume that the following cost data are for a purely competitive producer. Marginal Cost en WN- enn Average Fixed Average Average Total Cost Variable Cost Cost na $ 0.00 $ 0.00 60.00 $ 45.00 $ 105.00 30.00 $ 42.50 72.50 20.00 $ 40.00 60.00 15.00 37.50 52.50 55 12.00 37.00 49.00 6 $ 10.00 $ 37.50 $ 47.50 7 $ 8.57 $ 38.57 $ 47.14 8 $ 7.50 $ 40.63 $ 48.13...
Assume that the cost data in the following table are for a purely competitive producer:
Assume that the cost data in the following table are for a purely competitive producer: TotalProductAverageFixed CostAverageVariable CostAverageTotal CostMarginal Cost01$60.00$45.00$105.00$45.00230.00 42.50 72.5040.00320.00 40.00 60.0035.00415.00 37.50 52.5030.00512.00 37.00 49.0035.00610.00 37.50 47.5040.0078.57 38.57 47.1445.008 7.50 40.63 48.1355.009 6.67 43.33 50.0065.0010 6.00 46.50 52.5075.00 Instructions: If you are entering any negative numbers be sure to include a negative sign (−) in front of those numbers. Select "Not applicable" and enter a value of "0" for output if the firm does not produce. a. At a product price of $66.00 (i) Will this firm produce in the short run? (Click to select) No Yes (ii) If it is preferable to produce, what...
Assume the following cost data are for a purely competitive producer: Total Average Average Product Fixed...
Assume the following cost data are for a purely competitive producer: Total Average Average Product Fixed Cost Variable Cost Average Total Cost Marginal Cost COVOAN $60.00 30.00 20.00 15.00 12.00 10.00 8.57 7.50 6.67 6.00 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 $45.00 40.00 35.00 30.00 35.00 40.00 45.00 55.00 65.00 75.00 Answer the following questions (a - c) using the table above. Instructions: 1. For any...
Assume the following cost data are for a purely competitive producer: Average Product Fixed Cost Variable...
Assume the following cost data are for a purely competitive producer: Average Product Fixed Cost Variable Cost Total Cost Average Average Marginal Total Cost $60.00 $45.00 $105,00 $45.00 1 72.50 2 30.00 42.50 40.00 3 20.00 40.00 60.00 35.00 30.00 15.00 37.50 52.50 5 12.00 37.00 49.00 35.00 6 10.00 37.50 47.50 40.00 8.57 7 38.57 47.14 45.00 7.50 40.63 48.13 50.00 55.00 9 6.67 43.33 65.00 10 6.00 46.50 52.50 75.00 Answer the following questions (a - c) using...
Same question/divided into two parts Assume that the following cost data are for a purely competitive...
Same question/divided into two parts
Assume that the following cost data are for a purely competitive producer: as Total Product Average Fixed Total Product Cost 0 na 1 $ 60.00 2 $ 30.00 $ 20.00 $ 15.00 12.00 $ 10.00 $ 8.57 $ 7.50 $ 6.67 10 6 .00 Average Average Total eost Average Total Marginal Cost Variable Cost Cost 0 .00 5 0 .00 na $ 45.00 $ 105.00 $ 45.00 $ 42.50 $ 72.50 $ 40.00 $ 40.00...
Calculate the missing total-revenue and marginal-revenue amounts a. Calculate the missing total-revenue and marginal-revenue amounts. mbers...
Calculate the missing total-revenue and marginal-revenue amounts
a. Calculate the missing total-revenue and marginal-revenue amounts. mbers be sure to Instructions: Enter your answers as whole numbers in the gray shaded cells. If you are entering any negative nu include a negative sign () in front of those numbers. Production and Costs Demand Total Marginal Total Average Fixed Average Average Total Marginal Price Demanded Revenue Revenue $115 100 83 uct Cost Variable Cost Cost Cost $45.00 42 50 40 00 37.50...
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown on the right a. Calculate the missing total-revenue and marginal-revenue amounts. 30.00 Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Production and Costs Demand Total Average Fixed Average Average Total Marginal Quantity Price Marginal Total...
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown on the right a. Calculate the missing total-revenue and marginal-revenue amounts 66.00 Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Production and Costs Demand Total Average Fixed Average Average Total Marginal Quantity Total Marginal Price...
MON Pegamy sy DUO Tao u are nok aatio juodu a je stopoulos pue 2. Assume the following cost data are for a purely competitive producer: Total Average Average Product Fixed Cost Variable Cost Averto Total Cost Marginal Cost $45 $60.00 30.00 20.00 15.00 12.00 10.00 8.57 7.50 6.67 6.00 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 a. At a product price of $58, will this firm...
Assume the following cost data are for a purely competitive producer: Average fixed Total Product Average variable cost Average total cost Marginal cost cost $45 40 can AWN $60.00 30.00 20.00 15.00 12.00 10.00 8.57 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 7.50 6.67 6.00 (1) (3) (2) Quantity supplied, single firm (4) Quantity supplied, 1500 firms Price Profit (+) or loss (1) $26 32 e. Explain:...
Use the cost data to complete the charts.
Assume that the following cost data are for a purely competitive producer. Marginal Cost en WN- enn Average Fixed Average Average Total Cost Variable Cost Cost na $ 0.00 $ 0.00 60.00 $ 45.00 $ 105.00 30.00 $ 42.50 72.50 20.00 $ 40.00 60.00 15.00 37.50 52.50 55 12.00 37.00 49.00 6 $ 10.00 $ 37.50 $ 47.50 7 $ 8.57 $ 38.57 $ 47.14 8 $ 7.50 $ 40.63 $ 48.13...
Assume the following cost data are for a purely competitive producer: Total Average Average Product Fixed Cost Variable Cost Average Total Cost Marginal Cost COVOAN $60.00 30.00 20.00 15.00 12.00 10.00 8.57 7.50 6.67 6.00 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 $45.00 40.00 35.00 30.00 35.00 40.00 45.00 55.00 65.00 75.00 Answer the following questions (a - c) using the table above. Instructions: 1. For any...
Assume the following cost data are for a purely competitive producer: Average Product Fixed Cost Variable Cost Total Cost Average Average Marginal Total Cost $60.00 $45.00 $105,00 $45.00 1 72.50 2 30.00 42.50 40.00 3 20.00 40.00 60.00 35.00 30.00 15.00 37.50 52.50 5 12.00 37.00 49.00 35.00 6 10.00 37.50 47.50 40.00 8.57 7 38.57 47.14 45.00 7.50 40.63 48.13 50.00 55.00 9 6.67 43.33 65.00 10 6.00 46.50 52.50 75.00 Answer the following questions (a - c) using...
Same question/divided into two parts
Assume that the following cost data are for a purely competitive producer: as Total Product Average Fixed Total Product Cost 0 na 1 $ 60.00 2 $ 30.00 $ 20.00 $ 15.00 12.00 $ 10.00 $ 8.57 $ 7.50 $ 6.67 10 6 .00 Average Average Total eost Average Total Marginal Cost Variable Cost Cost 0 .00 5 0 .00 na $ 45.00 $ 105.00 $ 45.00 $ 42.50 $ 72.50 $ 40.00 $ 40.00...
Calculate the missing total-revenue and marginal-revenue amounts
a. Calculate the missing total-revenue and marginal-revenue amounts. mbers be sure to Instructions: Enter your answers as whole numbers in the gray shaded cells. If you are entering any negative nu include a negative sign () in front of those numbers. Production and Costs Demand Total Marginal Total Average Fixed Average Average Total Marginal Price Demanded Revenue Revenue $115 100 83 uct Cost Variable Cost Cost Cost $45.00 42 50 40 00 37.50...
Most questions answered within 3 hours.
-
the
total pressure for a mixture of N2O4 and NO2 is 2.20 atm. If Kp=
7.10...
asked 9 minutes ago -
23. Which molecule has only covalent bonds? A. CO2 B. Al2O3 C.
Mg3N2
24. The octet...
asked 7 minutes ago -
Delaware Corp. prepared a master budget that included $22,385
for direct materials, $28,600 for direct labor,...
asked 6 minutes ago -
For pesticide HCB (hexachlorobenzene), its logarithmic partition
coefficient log Kow is 5.6. What would be the...
asked 10 minutes ago -
A chemist requires 0.422 mil Na2CO3 for a reaction. How many
grams does this correspond to?
asked 13 minutes ago -
If the vapor pressure of carvone is approximately 9.4 torr at 99
°C, approximately how much...
asked 32 minutes ago -
A juice bottling company is carrying out a test at 10%
significance that the mean population...
asked 44 minutes ago -
What is the reflectivity (in percent) needed to keep water at a
temperature near its freezing...
asked 47 minutes ago -
Suppose that the average surface temperature of Earth is 300K.
Assume this is uniform over its...
asked 47 minutes ago -
Draw the condensed structural formula for alkenes and alkynes or
the line-angle structural formula for cycloalkenes...
asked 47 minutes ago -
M. Laing has suggested a new arrangement of the periodic table
(J.Chem.Ed.1989, 66,
746). Answer the following...
asked 1 hour ago -
Café Michigan's manager, Gary Stark, suspects that demand for
mocha latte coffees depends on the price...
asked 1 hour ago