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Suppose that a price-taker firm has a marginal cost function given by: MC 20+0.5q. The firm could join a cartel in its...
Suppose that a price-taker firm has a marginal cost function given by: MC= 20+0.5q. The firm could join a cartel in its industry and agree to a quota of 5 units. The collusion drives the price of the...
Suppose that a price-taker firm has a marginal cost function given by: MC= 20+0.5q. The firm could join a cartel in its industry and agree to a quota of 5 units. The collusion drives the price of the good from $25.45 to $55.00. Suppose that if the firm cheats on the cartel, it has no effect on the price. Calculate the producer surplus of this firm when they cheat on the cartel.
Suppose that a price-taker firm has a marginal cost function given by: MC 30+0.5q. The firm...
Suppose that a price-taker firm has a marginal cost function given by: MC 30+0.5q. The firm could join a cartel in its industry and agree to a quota of 5 units. The collusion drives the price of the good from $35.91 to $70.00. Calculate the producer surplus of this firm when they produce the quota. (Do not enter a "$" sign in your response. Round to the nearest two decimal places if necessary.) Answer: Check
Suppose that a price taker had a marginal cost function given by: MC = 10 +...
Suppose that a price taker had a marginal cost function given by: MC = 10 + 2q. In a competitive market, the price is $20. If the firms in this industry form a cartel, this firm will have a production quota of 4 units. The cartel will be able to increase the price to $24. 21 betermine the producer surplus when the firm produces the production quota. 22)Suppose that if this firm cheats on the cartel, the price remains at...
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...
Question 7 Tries remaining: 2 Points out of 6.2 P Flag question Suppose a profit-maximizing price...
Question 7 Tries remaining: 2 Points out of 6.2 P Flag question Suppose a profit-maximizing price taker had a marginal cost function given by: MC 10 +2q. Calculate the producer surplus the firm would earn when the price is $50. (Do not include a $sign in your response. Round to the nearest 2 decimal places if necessary.) Answer: Check
Question 4Suppose that a price-searcher monopolist had a total cost function given by: TC 20+ 0.5Q...
Question 4Suppose that a price-searcher monopolist had a total cost function given by: TC 20+ 0.5Q +0.2Q. The demand Tries remaining: 2 Points out of 8.34Calculate the monopolist's producer surplus. P Flag question (Do not include a dollar sign in your response. Round to the nearest two decimals.) for the price searcher's product is given by: Q 100 -20P. Answer: Check
Suppose that a price-searcher firm was going to use a first degree price discrimination strategy. The...
Suppose that a price-searcher firm was going to use a first degree price discrimination strategy. The demand for their product is given by: Qp= 170-P. The firm has a constant marginal cost of $21.00 per unit. Calculate the producer surplus the firm would earn from this strategy. (Do not include a "$" sign in your response. Round to the nearest two decimal places if necessary.) Answer: Check
Consider the following conditions: A market with 10 identical firms: Market price = $20, Each firm has a marginal cost...
Consider the following conditions: A market with 10 identical firms: Market price = $20, Each firm has a marginal cost (MC) of production of 2q. MC = 29 Calculate the market producer surplus: $ (enter your answer as a whole number).
A price-taker firm has a short run total cost function given by: TC=1.2+5q+0.3q2. Calculate the short...
A price-taker firm has a short run total cost function given by: TC=1.2+5q+0.3q2. Calculate the short run price at which this profit- maximizing, price taker would shutdown in the short run. (Do not include a "$" sign in your response.) Answer:
Suppose that a price-taker firm has a marginal cost function given by: MC 30+0.5q. The firm could join a cartel in its industry and agree to a quota of 5 units. The collusion drives the price of the good from $35.91 to $70.00. Calculate the producer surplus of this firm when they produce the quota. (Do not enter a "$" sign in your response. Round to the nearest two decimal places if necessary.) Answer: Check
Suppose that a price taker had a marginal cost function given by: MC = 10 + 2q. In a competitive market, the price is $20. If the firms in this industry form a cartel, this firm will have a production quota of 4 units. The cartel will be able to increase the price to $24. 21 betermine the producer surplus when the firm produces the production quota. 22)Suppose that if this firm cheats on the cartel, the price remains at...
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) = 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...
Question 7 Tries remaining: 2 Points out of 6.2 P Flag question Suppose a profit-maximizing price taker had a marginal cost function given by: MC 10 +2q. Calculate the producer surplus the firm would earn when the price is $50. (Do not include a $sign in your response. Round to the nearest 2 decimal places if necessary.) Answer: Check
Question 4Suppose that a price-searcher monopolist had a total cost function given by: TC 20+ 0.5Q +0.2Q. The demand Tries remaining: 2 Points out of 8.34Calculate the monopolist's producer surplus. P Flag question (Do not include a dollar sign in your response. Round to the nearest two decimals.) for the price searcher's product is given by: Q 100 -20P. Answer: Check
Suppose that a price-searcher firm was going to use a first degree price discrimination strategy. The demand for their product is given by: Qp= 170-P. The firm has a constant marginal cost of $21.00 per unit. Calculate the producer surplus the firm would earn from this strategy. (Do not include a "$" sign in your response. Round to the nearest two decimal places if necessary.) Answer: Check
Consider the following conditions: A market with 10 identical firms: Market price = $20, Each firm has a marginal cost (MC) of production of 2q. MC = 29 Calculate the market producer surplus: $ (enter your answer as a whole number).
A price-taker firm has a short run total cost function given by: TC=1.2+5q+0.3q2. Calculate the short run price at which this profit- maximizing, price taker would shutdown in the short run. (Do not include a "$" sign in your response.) Answer:
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