A competitive firm has the short-run cost function C(y) = 12y3−8y2+30y+12. At what price will the firm agree to produce in the short-run? What is the shutdown condition for this firm?
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- A competitive firm has the short-run cost function C(y) = 12y3−8y2+30y+12. At what price will the firm agree to produce in the short-run? What is the shutdown condition for this firm?
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- If a firm's total cost function is c(q) = 100 + 10 q – q2 +0.1 q3, then (a). what is the firm's shut down price? (b). If the firm is operating under perfect competitive market, derive the firm’s short run supply function.A firm produces a product in a competitive industry and has a total cost function C = 80 + 4q + 2q2 and a marginal cost function MC = 4 + 4q. At the given market price of $28, the firm is producing 7 units of output. Is the firm maximizing its profit? What quantity of output should the firm produce in the long run?Multiplying one firm’s short-run supply function to the number of firms in a specified industry will give you the short-run market supply function. True or false.
- The market for drones is perfectly competitive. Assume for simplicity that fractions of everything, including firms, is possible. We have identical firms, each with a Total Cost curve of TC=712+q^2 and Marginal Cost curve MC=2q. Market demand is Q=895-2P. What is the long-run equilibrium market price? Enter a number only, drop the $ sign.A competitive industry consists of 100 identical firms. The short run cost function of each firm is given by C(q)=200q+15q^2 What is the supply function for each firm?The market for drones is perfectly competitive. Assume for simplicity that fractions of everything, including number of firms, is possible. We have identical firms, each with a Total Cost curve of TC=862+q^2 and Marginal Cost curve MC=2q. Market demand is Q=856-2P. What is the number of firms in the market in the long run equilibrium?
- If a competitive firm finds that it maximizes short-run profits by shutting down, which of the following must be TRUE? A)p < AVC for all levels of output. B)The firm will earn zero profit. C)p < AVC only if the firm has no fixed costs. D)p < AVC only for the level of output at which p = MC.A competitive industry consists of 100 identical firms. The short run cost function of each firm is given by C(q)=200q+15q^2 What is the market supply function?Suppose the short-run cost function of a perfectly competitive firm is C(q) = 10q − q2 + 1/3q3 + 100. Solve for the firm’s short-run supply function q(p).
- Consider a perfectly-competitive industry where each firm has the following long run cost function C(q) = q3 − 12q2 + 105q, where q is the firm’s output. What is the long-run equilibrium price in this market? (Round your final answer to two decimal places, if necessary.)Short-run supply and long-run equilibrium Consider the competitive market for titanium. Assume that, regardless of how many firms are in the industry, every firm in the industry is identical and faces the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves shown on the following graph. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.In a perfectly competitive market with a constant cost industry, there are currently 100 identical firms, each with the total cost function TC(Q) = Q2 + 4Q + 36. The market demand is Q = 1800 – 50p. What is the price at the short-run equilibrium? What is the net profit/loss of each firm at this price?
