A profit maximizing firm in a competitive market is currently producing 150 units of output at a price of $20. Average total cost is $8 and fixed cost is $200. What is this firm’s profit? $1,800 $2,000 $800 $1,600
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Question 3
A profit maximizing firm in a competitive market is currently producing 150 units of output at a price of $20.
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$1,800 |
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$2,000 |
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$800 |
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$1,600 |
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- Question 1 A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10, average total cost of $8, and fixed costs of $200. a. What is its profit? b. What is its marginal cost? c. What is its average variable cost? d. Is the efficient scale of the firm more than, less than, or exactly 100 units?question7) the following is the total cost function and demand function of a certain firm TC= 100 +20Q + 7QQd = 130-2Pa)- What is the type of this market? why? b)Calculate the profit maximizing level of output and price for this firm. c) Does the firm make profit or loss at this level of output? Why? d)Should the firm produce this level of output or shut down? Why? please all do subparts because I have very urgent solutionOnly typed answer and please answer correctly It is possible to lower the average cost of production by expanding output beyond Q0 to Q1. Why wouldn't a firm expand its output to Q1? Group of answer choices a) Demand is not sufficient for consumers to buy Q1. b) The firm would suffer an economic loss at Q1 while it would break even at Q0. c) The firm's marginal revenue would be negative at Q1. d) The firm wants to maximize accounting profit rather than economic profit.
- Question 1 A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10, average total cost of $8, and fixed costs of $200. Is the efficient scale of the firm more than, less than, or exactly 100 units?48. Whenever there is an improvement in the technology, the supply of the products using that technology will__________. a. Decrease b. None of these. c. Remain the same d. IncreasePeloton article: Why do you think Peloton simultaneously raised subscription rates while lowering the price of the hardware (the bike)? Group of answer choices Their instructors threatened to go on strike. Their raw material costs went down. They know they have existing customers locked in (due to transaction specific investments), so they are holding them up while trying to attract new customers.
- Many films in the United States file for bankruptcy every year, yet they still continue operating. Why would they do this instead of completely shutting down?28 Multiple Choice refers to the price at which a business turns a profit. Producer surplus Breakeven point Consumer surplus Opportunity costsQuestion 17: The sequence of processes required to produce and distribute a product is know as A Supply chain B Conglomeration C Integration D Process Management
- 19. Dani sells roses in a competitive market where the price of a rose is $8. Use this information to fill out the revenue columns in the table. Quantity of Roses Total Revenue Average Revenue Marginal Revenue 1 2 3 4 5Concept: Does Fairness Matter 1 In the presence of shortages, why would a firm, such as a restaurant with people waiting for a table or a theater with people waiting for a ticket, not raise prices when doing so would seem to increase profits? A. Increasing prices might result in short run gains at the expense of long run profits. B. Increasing prices might be seen as unfair. C. Increasing prices requires the firm to pay substantial "switching costs." D. Both a and b. E. All of the above.The online shopping market is perfectly competitive. Profit-maximizing firms in the market are selling goods bu are currently incurring economic losses. What does this tell us about the market price? Select one: a. Market price must be less than average total cost. b. Market price must be greater than the average variable cost. C. Market price must be equal to marginal cost. d. All of the above.