Q: Question attached
A: Profit-maximizing level: It refers to that level in which the firm can produce the maximum profit.…
Q: Assume a certain firm is producing 1000 units of output. At Q = 1,000, the firm's marginal cost…
A: The firms, businesses, organizations, and other producers work with the motive to produce a given…
Q: An increase in demand causes the profit on a competition sail to rise to $260. How does that change…
A: The demand is the major component that signifies a change in the major activities of price and the…
Q: A profit maximizing firm will produce an output, if it chooses to produce, where A marginal revenue…
A: Answer: Correct option: A (marginal revenue equals marginal cost) Explanation: A firm maximizes its…
Q: If marginal revenue is $430 and the marginal cost is $320 Find marginal profit
A: According to the above given question, we are given that:- Marginal revenue = $430 Marginal cost =…
Q: A firm's total cost (TC) equals the sum of its fixed cost plus its Group of answer choices marginal…
A: Sunk cost is the cost which is incurred already and this cost can not be recovered.
Q: If the marginal revenue is greater than the marginal cost at a certain level of production, then the…
A: Marginal revenue is the amount of extra revenue that might be made by selling just one more unit of…
Q: The answer in the textbook says when x>5 how do you get that ?
A:
Q: The value of marginal revenue is $35 and the value of marginal cost is $30 Is the firm maximizing…
A: # The values of marginal revenue and the marginal cost helps us gain the idea whether the firm is…
Q: A firm should increase the quantity of output as long as its marginal revenue is greater than…
A: Any firm's main objective is profit maximization and any firm makes a decision about increasing or…
Q: D) A manufacturer knows that: His TR is given by Revenue = 23Q-Q His total cost of production is;…
A: Note: Since we only answer upto 3 sub parts, we’ll answer the first 3. Please resubmit the question…
Q: Price and Cost MC ATC AVC $40 $30 $28 $20 $12 500 600 700 1000 Quantity 1. If the market price is…
A: The MC will represent the marginal cost. The ATC will represent the average total cost. The AVC…
Q: If marginal profit is negative what information can you infer about marginal cost and marginal…
A: Marginal profit is given as :- Marginal profit = Marginal revenue - Marginal cost It's given that…
Q: When price is _______ average cost of production, profits are ______ due to ________ averate…
A: Introduction this topic is related cost of production
Q: Which is the first-order condition for the profit of a firm to be maximum?
A: Profts are the excess of revenues over the costs incurred by the firm. Revenue represents the income…
Q: In pure competition there are a(n) ______________ number ofsellers
A: Pure competition means that all producers are producing homogeneous good and there is perfect…
Q: A firm operates two plants. The total cost schedules for the respective plants are TC1 = 5*Q1 +…
A: please find the answer below.
Q: The firm's profit maximizing output level is ____ units. b. At the profit-maximizing level of…
A: Profit is maximized when P = MC = $10, with Q = 20.
Q: If marginal profit is $32 and marginal revenue is $50 Find Marginal cost
A: The data presented In the question above is:- Marginal profit = $32 Marginal revenue = $50…
Q: which of the following statement is true? (choose one letter only) a. the Marginal Revenue is the…
A: Marginal revenue and marginal cost are basis of profit maximisation.
Q: A manufacturer knows that: His TR is given by Revenue = 23Q – Q2…
A: The point where the marginal revenue is equal to the marginal cost is the point of profit…
Q: A firm’s profit equation is given by: Total Profit = -100 + 160Q – 20Q2 . Therefore, Select one: A.…
A: If the firm would produce zero output, the profit earned would be: Total profit = -100 Hence, the…
Q: When x gallons of olive oil are produced, the profit function is given by P(x) = 2x – 1000 (i) Find…
A: According to the question, profit function is given as P(x) = 2x – 1000 – x^2/5000 i) For the…
Q: Suppose the cost of flying (operating) a 300-seat plane from Washington D.C. to New York City for…
A: Airline will choose the alternative which would provide it the best possible profits . Profits =…
Q: If a firm generates $200,000 in revenue, earns $105,000 in economic profit, and its expli- costs are…
A: In economics, an implicit cost, also called an imputed cost, implied cost, or notional cost, is the…
Q: If the firm is maximizing profits, profit is represented by the area:
A: The correct option is E i.e. (A-B)xC.
Q: If marginal profit and marginal cost are $4 and $36 respectively Calculate marginal revenue
A: Marginal Revenue is the revenue per additional sale of unit , so here we calculate the value of…
Q: If the market price is $17 and the firm produces 4 units of output, then its profit would be a. -44…
A: Market price is the sum of total cost of production of goods plus (minus) profit (loss) margin.
Q: usiness profit is generally greater than economic profit. a. True b. False
A: According to the given question Economic profits are also known as the accounting profit which…
Q: The marginal cost of production of a firm is given as C'(Q) = 5+ 0.13Q. Also, the marginal revenue…
A: Marginal cost shows the changes in the total cost by producing an additional unit of output while…
Q: referring to the graph above, the profit-maximizing quantity is a. 7 b. more than 10 c. 10 d. 0
A: Profit maximizing quantity is such a quantity where marginal revenue is equal to marginal cost.
Q: If marginal profit is $33 and marginal revenue is $80 What's the value of Marginal cost
A: The data presented in the question is:- Marginal profit of the firm = $33 Marginal revenue = $80…
Q: Zero profit does not mean that the entrepreneur does not get anything for his efforts. a. maybe…
A: Economic profit is not identical to accounting profit. It is the difference between accounting…
Q: Suppose that the marginal revenue for a product is MR=775 and the marginal cost is MC39sqrt(x+1),…
A: Given, Marginal revenue =MR = 775 Marginal cost = MC =39x+1 Fixed cost = $906 Output = x = 3 units…
Q: Calculate the profits of the first if it is given that the total revenue generated is $60,000 and…
A: # The profits of a firm is given as the difference of total revenue and total cost. Profit = Total…
Q: What will be the marginal revenue of the firm if the firm has gained marginal profit of $45 and the…
A: The information given to us is as follows:- Marginal profit of the firm = $45 Marginal cost = $100…
Q: P = c + 1/(nxb). When the number of firms (n) in an industry is more then a. each firm's price level…
A: Price level of goods is determined by many factors and one of them is numbers of firms following is…
Q: Firm B's marginal cost of Firm A's marginal cost of producing the 90th zidget is producing the 90th…
A: The marginal cost of production is the incremental cost incurred when an additional unit of a good…
Q: Calculate the value of marginal profit when marginal revenue Is $400 and the marginal cost is $230
A: # The marginal revenue and marginal cost helps us gain the idea about the marginal profit. The…
Q: Distinguish clearly between Marginal Revenue and Marginal Costs using suitable examples.
A: Marginal revenue is defined as the additional revenue after selling one more unit of output.
Q: 35. Economic profit is equal to total revenue minus all implicit costs. a. True b. False
A: According to the given question the - Economic profit is equal to total revenue minus all implicit…
Q: If marginal cost and marginal revenue of a firm A is $30 and $56 respectively Calculate the value…
A: The information being given is:- Marginal cost of firm A = $30 Marginal revenue of firm A = $56 We…
Q: The average profit is the difference between
A: To find : What is average profit.
Q: A firm maximizes its profit by producing the amount of output such that A) marginal revenue exceeds…
A: For a rational firm, the objective is to maximize its profits
Q: If the marginal revenue is 45 and the marginal cost is 45 also. What can you say about the firm's…
A: Profit maximization is the process through which corporations and organizations devise methods to…
Q: Calculate the marginal profit when marginal revenue is $84,000 and marginal cost is $77,000
A: # Marginal profit is always given by the difference between marginal revenue and marginal cost. That…
If a company's marginal revenue is greater than its marginal cost, then the company should
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- Should the Marginal revenue exceed the marginal cost? Why?If the marginal revenue of the next widget a firm produces is $100 and its marginal cost is $110, a firm should: A). reconsider past production decisions. B). decrease production. C). increase production. D). hold production constant.What will be the firms total profit?
- Profit The profit for a product is given by P(x) =19x - 5060, where x is the number of units producedand sold. Find the marginal profit for the product.It costs a coat manufacturer $8750 to make 125 coats and it costs $6500 to make 80 coats. Each coat is sold for $250. a. How much is the marginal cost? Round to two decimal places if rounding is necessary. Do not enter a fraction. There is a $ sign next to the answer box, so do not type a $ sign in your answer. Only type a number (do not type any units on your answer). $ b. What is the slope of the Profit function, P(x)? Round to two decimal places if rounding is necessary. Do not enter a fraction. There is a $ sign next to the answer box, so do not type a $ sign in your answer. Only type a number (do not type any units on your answer). $ c. How many coats must be sold in order to break even? Round to the nearest whole number if rounding is necessary. Do not enter a fraction. Only type a whole number (do not type any units on your answer).Part a a.an economic profit b.a normal profit c.a loss Part c a.an economic profit b.a normal profit c.a loss . .
