24 MC ATC P= MR 200 0 1000 1.00 q Bushels of soyberans Figure 9.3 If this farmer is producing the profit maximizing level of output, his profit is.. $0 $2800 $3000 O $12000 Cost per unit
Q: 20 MC ATC AVC 16 12 8. 5 10 15 20 25 30 35 40 45 50 Quantity (units per day) In the above figure, at…
A: A perfectly competitive market is one that has a large number of buyers and sellers, selling…
Q: Quantity Total Revenue Total Cost $O $1 1 10 16 2 20 22 3 30 29 4 40 37 5 50 46 60 56 7 70 67 80 79…
A: Marginal revenue is equal to change in total revenue with respect to change in quantity. Marginal…
Q: The table below gives a firm's costs. Output Fixed costs ($) Total costs ($) $80 $50 1 $80 $55 2 $80…
A: PRODUCTION cost is the incurred monetary value to produce the goods on factor of production . It is…
Q: What is the break-even price for this farmer? Table: Soybean Cost Quantity of Soybeans (bushels)…
A: Break even Price is the Price at which Total Revenue equals Total Cost, that is no profit is earned…
Q: MC 2$ 10 .ATC AVC 6 5.50 4.50 2 100 300 Quantity Figure 1 7. Refer to Figure 1. At an output of 100…
A: A competitive firm experiences a perfectly elastic demand curve for its own good. This is because it…
Q: Cost and de mand conditions ATC $ MC AVC Ad =MR 15 13 ンンズ」 11 9 -1 7-- 41. II || 3 6 9 12 16 17 q…
A: A perfectly competitive firm is a price taker and can sell any quantity of the commodity at the…
Q: Given the marginal cost information below, nswer the following questions: Output Marginal costs a.…
A: In a perfectly competitive market structure there exists a large number of buyers and sellers of the…
Q: Refer to the figure given. For this farmer to maximize profits he should produce bushels of who Cost…
A: Option (B).
Q: Question attahed in image
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Assume that the most efficient production technology available for making vitamin pills has the cost…
A: a) Output TC MC ATC 25400 104000 0.54 104000/25400= 4.09 50400 154000 1.04 154000/50400= 3.05…
Q: The Wax Works sells 400 candles at a price of $10 per candle. The Wax Works' out-of-pocket costs for…
A: Accounting profits consider only explicit costs while economic profits consider both explicit and…
Q: A. Complete the table. A small firm operating in a purely competitive market, has fixed costs of $45…
A: Answer: (A). Given, Fixed cost = $45 Wage rate (w) = $96 per day Note: here there are two variable…
Q: ind curve: Quantity Price $20 $18 $16 $14 $12 $10 $8 $6 $4 $2 $0 2 4 15 7 10 How much output…
A: here we calculate the level of profit by using the given data so the calculation of the following by…
Q: The market for apple pies in the city of Ectenia is competitive and has the followingdemand…
A: a. It is known that the marginal cost which shows the additional rise in cost due to the production…
Q: The Farley Farm, a dairy company, has total costs of $15,000 and total variable costs of $2,000. The…
A: Given: Total cost = $15000 Total variable cost = $2000
Q: Question attahed in image
A: In perfect competition, the equilibrium point will occur where the marginal cost and price interest…
Q: Refer to the figure below. This firm can earn a positive profit at units of output. Price $33.50…
A: The firms are the sellers in the market who get involved in the production process and sell goods…
Q: MC 50 ATCAVC 40 30 20 10 10 20 30 40 50 Quantity Figure 9.6 At a market price of $9, this perfectly…
A: In perfectly competitive market, the price is constant which means it is same at all levels of…
Q: Study the graph given below: MC ATC AVC 10 14 24 30 40 44 47 62 66 68 At which of the following…
A: A market is the collection of buyers and sellers. There are firms in the market that produce output…
Q: The Farley Farm, a dairy company, has total costs of $15,000 and total variable costs of $2,000. The…
A: Given: Total cost = $15000 Total variable cost = $2000
Q: A soybean farmer produces beans for soybean meal and soybean oil. She has fixed costs of $500 and…
A: profit maximization is the short run or long run process by which a firm may determine the price,…
Q: The MARKET PRICE for berries is currently at $75 per metric ton. Green Berry farms is currently…
A: Green Gardens Berry farms (quantity in metric tons) Quantity of farmworker TVC TFC TC MC 1 3 45 20…
Q: ATC P MR 21 200 700 1000 140o0 g Bushels of soybeans Figure 9.3 This farmer's profit maximizing…
A: A perfectly competitive firm is a price taker and can sell any quantity of the commodity at the…
Q: Price (Rials per unit) MC ATC 7. AVC 1012 15 16 Quantity (units) 22. In the above figure, at a price…
A: An economic profit is earned by a firm, if Total Revenue (TR) = P X Q, is greater than the Total…
Q: $1q MC 15 AC 11 10 ‚AVC 40 The above figure shows the cost curves for a competitive firm. If the…
A:
Q: 12 What is the marginal cost if average cost is AC = 2Q2 - 3Q+4+ %3D Q O A. 3Q2 – 3Q + 4 O B. 3Q2…
A: Marginal cost measures the additional cost incurred in order to produce an additional unit of…
Q: Buddies Production Costs Quantity of Ear Buds MC ($) ATC ($) 10 - 5.00 15 2.00 4.00 20 2.44 3.61 25…
A: Quantity of Ear Buds MC ($) ATC ($) TC ($) (ATC*Q) P ($0 TR ($) (P*Q) MR ($) 10 - 5.00…
Q: Refer to the figure given. This farmer would earn a zero economic profit if price was... Cost and…
A: We know that, economic profit =(P-ATC) x Q Here economic profit is zero, so, P=ATC So, if the price…
Q: MC Costs, P Find Q where MR = MC P₁ = $20 MR, ATC ATC, = $15 Q Q₁ = 7 (bushels of apples) Refer to…
A: In the given graph, MR curve is horizontal, which explains that the market is perfectly competitive…
Q: 8. Daisy's Doggie Treats has a marginal profit function given by m(x) = 0.34e0.02x dollars per bag…
A: Given that marginal profit function m(x) = 0.34e0.02x/ bag If production sales increase to 250 bags…
Q: A bakery operating in competitive markets sells itsoutput for $20 per cake and rents ovens at $30…
A: A bakery is operating in perfectly competitive market where it sells output for $20 per cake and…
Q: When a firm has an accounting profit that is negative, it Select one: O A. cannot be producing where…
A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: Cost and demand conditions ATC MC 15 13 AVC d= MR T プンズ」 11 9キニ1 7---1 tI 4 369 12 16 17 9 Bushek of…
A: * SOLUTION :- The OPTION D (134) is correct answer.
Q: Karen runs a print shop that makes posters for large companies. It is a very competitive business.…
A: Given,Fixed Costs = $100Variable Costs are $1,000 for the 1st thousand posters,…
Q: MC ATC 20 -MR 16 14 22 Firm 30 40 At what level of output is average total cost minimized? 30 22 14…
A:
Q: $1q| MC 15 AC 11 10 AVC 40 5) The above figure shows the cost curves for a competitive firm. If the…
A: The given curve is: Market price per unit is $15
Q: MC ATC AVC MR2 MR, 3D 30 40 50 60 Quantity Refer to Figure 6.1. Given MR2, what is total revenue if…
A: In a market, a firm's cost and revenue curves help to understand the profit and cost analysis…
Q: $4 MC ATC 12 P = MR 9. 8. 2 200 700 1,000 1,400 q Bushels of soybeans Figure 8.8 3) Refer to Figure…
A: The market structure would result in the determination of the market and the price in the market.…
Q: The total cost of Mr. Plow, a snow-removal business, is given in the table below. Quantity…
A: Total Profits of 5 drive ways = Total revenues of 5 driveways - Total cost of 5 drivewaysTotal…
Q: If the perfectly competitive farmer is maximizing profit and the price is $12, then his marginal…
A: A monopoly is a sole producer of a good in the market thus acting as a price maker whereas in a…
Q: For the firm whose costs are illustrated below, the break-even price is $4. 20 MC 18 16 14 E 12 10…
A: Break-even point: - The break-even point is that point of production where the firm's total cost of…
Q: Refer to Fig 9.4. At P = $24, how much is the per unit profit? !3! MC ATC 24 P MR 20 18 4 100 350…
A: The total cost incurred by a firm operating in a market inlcudes fixed costs and avriable costs.…
Q: 3. Problems and Applications Q3 Consider total cost and total revenue, given in the following table:…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: Figure: Cost Curves for Corn Producers Price, cost of bushel $30 26 MC 22 18 ATC AVC 14 10 1 3 4 7…
A: In a perfectly competitive market, price is constant so price of equal to marginal revenue.
Q: 1. Given: TC = 800 + 10g +1.5q; Price = 100 a. Identify the output level (q*) that will maximize the…
A: The firm maximizes profit by producing at a point where price is equal to marginal cost
Q: (Table: Quinoa Cost) Use Table: Quinoa Cost. If the market price of a bushel of quinoa is $15, what…
A: Since price is constant, the market structure is perfectly competitive. Price is equal to marginal…
Q: Total Total Average Average Fixed Variable Total Variable Total Marginal Output (Q) Cost Cost Cost…
A: Marginal cost is the additional cost incurred with an additional unit produced.
Q: Assume a competitive firm faces a market price of $100, a cost curve of: C-1.00g + 25g + 1,600 and a…
A: Profit is the difference between total revenue and total cost . And average profit means profit per…
Q: A. The table below shows the cost schedule of XYZ Company, producing face shields sold at P22 per…
A: We have given the cost schedule of XYZ company. The market price of face shields is 22.
If this farmer is producing.....please answer
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow HighFlyer Airlines to give passengers more comfort and sell more tickets at a higher price. However, redesigning the cabin means rethinking many other elements of the airplane as well, like engine and luggage placement, and the most efficient shape of the plane for moving through the air. HighFlyer Airlines has developed a list of possible methods to increase cabin space, along with estimates of how these approaches would affect the planes operating costs and ticket sales. Based on these estimates, Table 13.5 shows the value of R, how much should the firm invest in R on top of the private return; that is, an R private return to HighFlyer Airlines would have a 9 social return. How much investment is socially optimal at the 6 interest rate?Continuing from Exercise 7.1, the films factory sits on land owned by the firm that it could rent for 30,000 per year. What was the films economic profit last year?Urban transit systems, especially those with rail systems, typically experience significant economies of scale in operation. Consider the transit system data in Table 11.4. Note that the quantity is in millions of riders.
- The state of Colorado requires oil and gas companies who use fracking techniques to retune the land to its original condition after the oil and gas extractions. Table 12.9 shows the total cost and total benefits (in dollars) of this policy. Calculate the marginal cost and the marginal benefit at each quantity (acre) of land restored. See Production. Costs and Industry Structure if you need a refresher on how to calculate marginal costs and benefits. If we apply marginal analysis, what is the optimal amount of land to be restored?What is an externality?What is the free rider problem?
- 9. Consider a small firm that is producing winter jackets. It can lease an additional sewing machine for one month for $2400. With this additional machine, the firm can produce an additional 4 jackets during that time period that it sells for $550 each. Hiring the marginal machine adds ________ to the firm's profit and so it should ________ the machine. Select one: a. $200; lease b. $0; be indifferent as to whether to lease c. -$2400; not lease d. $2400; lease e. -$200; not leaseA young chef is considering opening his own sushi bat'. To do so,he would have to quit his cttt'rent job,which pays $20,000 ayea1; and takeovet' a store building that he owns and cut'rently rents to his brother fol' $6,000 a year. His expenses at the sushi bar would be $50,000 for food and $2,000 for gas and electricity.\'Vhat at'e his explicit costs? a.$26,000 b.$66,000 c.$78,000 d.$52,000A firm produces two different kinds, A and B, of a commodity. The daily cost of producingx units of A and y units of B isC(x, y) = 2x2 − 4xy + 4y2 − 40x − 20y + 514Suppose that the firm sells all its output at a price per unit of $24 for A and $12 for B. Findthe daily production levels x and y that maximize profit. (Be sure to show your first andsecond order conditions.)
- Why Marginal Cost (MC) is 1?? I did my calcutation and is 2. I replace on fucntion Q = L + (5)2 = L + 25, so L = Q - 25 and put on TC = 2(Q - 25) + 20(5) So TC = 2Q - 50 + 100 = 2Q + 50, then MC = dTC / dQ = 2 You may be replaced TC = wL + rK, but this function no contains Q variable Please confirm that. Thanks2-8e What are the characteristics of a long butterfly spread: e. maxiumum profitMaximize profit 4D + 3WWith constraintsTime 3D + 2W ≤ 150Cost 2D + 4W ≤ 220D, W ≥ 0 We saw the best point was (20, 45) with profit 215. Use this problem and the notes to answer the following (except part 4):1 write true or false and then explain either response to this – the range of optimality on the D variable refers to how much the value 20 in the best point can go down or go up and this point is still the best,2 write true or false and the explain either response to this – the range of feasibility of the time constraint refers to the value 150 and how much if can change and the best point is still (20, 45),3 write true or false and explain either response to this – the shadow price of .125 on the cost constraint means that if the right hand side of the constraint (the 220) is anywhere between 100 and 300 then each 1 unit increase in this RHS (say from 100 to 101) will increase profit by 12.5 cents and any 1 unit decrease in this RHS will decrease profit 12.5 cents,4 write true or…
