.  Consider a firm that has no fixed costs and that is currently losing money. Are there any situations in which it would want to stay open for business in the short run?   3.  Why is the equality of marginal revenue and marginal cost essential for profit maximization in all market structures? Explain why price can be substituted for marginal revenue in the MR = MC rule when an industry is purely competitive.

Q: Please answer #3e,f and g please.

A: (e) The graph below shows the ATC, AVC, MC and MR curve for the competitive firm. Quantity…

Q: 4. Suppose that each firm in a competitive industry has the following costs: Total cost: TC = 500 +…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: 8-2 Determine the perfectly competitive firm's profit-maximizing output in the short run (Short-Run…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: 3. True or False? d. A firm that receives a price larger than its average variable costs but less…

A: In the short run, a firm may operate with excess profit, normal profit, and even incurring loss. But…

Q: need correct answer. absuletly upvote !!!!

A: Answer Given that provide is mounted at one million units, this means that provide is inelastic . As…

Q: Parts G and H

A: G) The market demand curve is:Q = 1500 – 50PMinimum AC = $10At minimum AC of firm, the price is set…

Q: 6. The following figure shows long-run average and marginal cost curves for a competitive firm. The…

A: "The figure given in the question relates to the firm in a perfectly competitive market structure.…

Q: 3. Assume that the potato chip industry in the Northwest in 2009 was competitively structured and in…

A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts…

Q: (Short-Run Profit Maximization) A perfectly competitive firm has the following fixed and variable…

A: "Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: 58. How can a firm under pure competition maximize its profit or minimize its loss? compare total…

A: Note: Since you've asked multiple question, we will solve the first question for you. If you want…

Q: Assume now that the costs of shipping are so large that Australian consumers can buy hand sanitizers…

A: Monopoly is a market condition where there is a single seller. It sells a unique commodity in the…

Q: 4. Suppose that the minimum average total cost of producing a widget is $5. The market price of…

A: A competitive market is characterized by a large number of buyers and sellers. The equilibrium price…

Q: 1.  What is the difference between accounting profit and economic profit? How could a firm…

A: As there are multiple questions, only the first question would be answered. To get answers of the…

Q: 3. When a perfectly competitive firm takes losses, it follows that price is a. necessarily below…

A: In simple words we can say that a firm is generally a price taker which is considering accepting the…

Q: . Which statement must be false? a) A firm with constant returns to scale in production will not…

A: When Average cost remains constant - there are constant returns to scale When A.C rises - there are…

Q: QUESTION 7 Given the accompanying table, what is the short-run profit-maximizing level of output for…

A: Profit = TR - TC Profit will be maximum at a point where the difference between TR and TC is…

Q: 4. Consider a market structure of perfect competition where firms have a U-shaped average cost…

A: Market is defined as a place or a region where the buyers and the sellers interact with each other…

Q: Suppose you start a business of manufacturing computer software. Assume that this computer software…

A: Given the fixed cost = Tk. 60000 Total cost = Tk. 140000 AC = 1400001000AC = 140 Variable cost = TC…

Q: Consider the following costs of a typical firm in a purely competitive industry. The firm has no…

A: In a perfect competition market, a firm cannot enjoy the same profit level in the short-run and…

Q: 9.If a firm is maximizing its profit and is earning positive economic profit, which of the following…

A: A profit maximizing firm produces at MR = MC.  So, profit maximizing condition of firm is MR = MC.…

Q: B) The figure below shows the total cost and revenue curves for a firm on the same diagram TC 60 50…

A: i) "Total cost represents the costs of producing something and in short run comprise of both fixed…

Q: 2., Consider the market for wheat, which is approximately perfectly competitive. The d.) How much…

A: Answer: (d). The firms in perfect competition earn zero economic profit. It is because, in the long…

Q: 5. (a) What do we mean by “price taker”? Explain why a firm in perfect competition is a price taker.…

A: A perfectly competitive market is a market in which there are many buyers and sellers selling an…

Q: 1. Why does the article state that price is not fully within the control of the coffee roasters? 2.…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Please answer only # 5 & 6.  Rebecca owns Louisiana Sugar Company, a manufacturer of sugar. Since…

A: The difference between the revenue gained from the selling of output and the costs of all inputs…

Q: 58. How can a firm under pure competition maximize its profit or minimize its loss? compare total…

A: Note:- Since we can only answer one question at a time and the question is not specified, we'll…

Q: In principle, how do we determine a perfectly competitive firm's profit-maximizing output and…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: The characteristics of a "perfectly competitive" market require that there is 1) a large number of…

A: The term "perfect competition" refers to a condition in the market in which buyers and sellers are…

Q: 5. Consider the marginal revenue and marginal cost curves shown in Figure 7.13. Assume that the firm…

A: The above mentioned figure is of monopoly, i.e., the market structure that has a single seller and a…

Q: 1-Which price leads to the maximum profits? A) $40,000 B) $26,000 C) $30,000 D) $39,000 2- What are…

A: The total revenue is the total receipts collected from selling the goods in the market.…

Q: If it is not in long-run equilibrium, what will happen in this industry to restore long-run…

A: Answer 10) In the long run, since the firms currently are making abnormal/ excess profits, more and…

Q: 1.) What are the ways to cut firm's production costs? 2.) What determines the firm's market power…

A: Whenever a business or firm does production, it requires a lot of inputs, and to buy those inputs,…

Q: 1. Assuming that the product's price is P58 per pack, should the competitor sell in the short-run…

A: "Since you have asked multiple parts, we will answer only the first part for you. If you have any…

Q: 3. For a perfectly competitive firm: a. the demand curve is perfectly inelastic at the market price…

A: In perfectly competitive market, there are many firms with free entry and exit. Firms produce…

Q: revenue for each possible level of sales: Product Price Quantity Demanded Total Revenue Marginal…

A: The table in the question is filled below product price quantity demanded Total revenue marginal…

Q: 1- Explain how economic profits and losses influence the number of firms in a purely competitive…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: Given the information in the table is this a competitive or non-competitive firm? In the short run,…

A: In a perfectly competitive market, there exist many sellers and barriers to entry and exit in the…