Consider a firm that is indifferent between shutting down and continuing to operate in the short run when facing a market price of $40. The firms total cost is $1800 and its average fixed cost is $20. How much revenue is the firm making? What would be the firm’s average fixed cost of producing 100 units of output?

Q: A typical firm in long-run equilibrium in an industry with identical firms has a cost function given…

A: The equilibrium price is where the supply of goods matches demand; here we calculate the given as…

Q: Glowglobes are produced by identical firms in a perfectly competitive market. Each firm's Total Cost…

A: A perfect market, sometimes known as an atomistic market, is characterized by numerous idealizing…

Q: If it is possible for a perfectly competitive firm to do better financially by producing rather than…

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

Q: Suppose that price is below the minimum average total cost (ATC) but above the minimum average…

A: In perfect competition, every seller in the market would be a price taker. A perfectly competitive…

Q: Consider the following demand and cost information on a perfectly competitive firm in the short run:…

A: The firm would produce at the output level of profit-maximizing (i.e., where the marginal cost is…

Q: ) Suppose a firm is trying to decide whether to temporarily shut down to minimize its total  loss.…

A: Perfectly competitive market: - it is a market condition where there are many buyers and many…

Q: Assume quantities need not be integers. A firm in a perfectly competitive market with MC(q) = 2 +…

A: A perfect competitive firm has Marginal cost equals to Price. MR = P Profit maximizing quantity is…

Q: What are total fixed costs for the Zonker Company? $0 $8 $12 $20   2. The marginal cost to the…

A: Total fixed cost (TFC) is that cost which does not change with change in the level of output.…

Q: At its current level of production, a profit-maximizing firm in a competitive market receives $15.00…

A: Given; Price= $15.00 Average total cost= $13.0 Output level= 1000units TR=P×Q    =15×1000…

Q: Total Cost Variable Cost Quantity (dollars) (dollars) $800 $0 100 1,260 200 1,660 300 2,560 400…

A: In a perfectly competitive market, firms produce identical goods. Price is constant and equal to…

Q: Suppose each business in a perfectly competitive industry has fixed costs of $12,000 and an average…

A: A break-even price is the amount of money, or change in value, for which an asset must be sold to…

Q: A firm sells its product in a perfect competitive market where other firms charges a price of $90…

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

Q: A perfectly competitive firm sells its output for $0.99 per unit. At 10,000 units of output per…

A: Under a perfectly competitive market, there are a large number of buyers and sellers. Each seller…

Q: Table: Total Cost for a Perfectly Competitive Firm Quantity per Period Total Cost $10 16 20 3 22 24…

A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…

Q: • Suppose you are the manager of a watchmaking firm operating in a perfectly competitive market. •…

A: In perfect competition, eqm q(quantity) is found by the intersection of MC(marginal cost) and…

Q: The Emerald Company, a firm in the perfectly competitive custom jewelry industry, asks you for your…

A: First, we will find all the costs from the given information. Quantity is 550 units Total Revenue is…

Q: If a firm makes zero economic​ profit, then the firm A. has total revenues greater than its…

A: The difference between the total revenue received by the firm from its sales and the total…

Q: The demand curve and supply curve for a perfectly competitive market are: Q = 500 – 5P and Q = 320 +…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…

Q: A perfectly competitive industry has a large number of potential entrants. Each firm has an…

A: A perfectly competitive market could be a hypothetical market that's consisted of the many firms and…

Q: The total cost of producing 6 units of output is __________________ If the firm is producing at an…

A: Total Cost = Total Fixed Cost + Total Variable Cost Zero Economic Profit occurs when Total Revenue =…

Q: Which of these must be present before you, as an economic advisor, would recommend a new company…

A: Perfect Competition : A Perfectly competitive market is the one in which there are large number of…

Q: The Hamilton Company is a member of a perfectly competitive industry. Like all members of the…

A: Answer: Given, Total cost function:TC=150Q-3Q2+0.5Q3 A perfectly competitive firm, in the long run,…

Q: ​A firm sells 1000 units per week. It charges $70 per unit, the average variable costs are $25, and…

A: ​Question: A firm sells 1000 units per week. It charges $70 per unit, the average variable costs are…

Q: A perfectly competitive industry has a large number of potential entrants. Each firm has an…

A: The short run supply function for each firm is p= MC = q -10 => q = p+10

Q: Consider the following demand and cost information on a perfectly competitive firm in the short run:…

A: Since you have asked multiple questions we will solve the first question for you if you want other…

Q: The Hamilton Company is a member of a perfectly competitive industry. Like all members of the…

A: Perfectly competitive firm: It has the greatest level of competition.

Q: A manufacturer of electric switches in a competitive industry has a fixed monthly cost of $50,000,…

A: Fixed monthly cost = $50000 Monthly variable cost = $100000 MC= $5 Monthly production = 100000 units

Q: The total revenue curve of a firm is R(q) = 40q − 12q2 and its average cost A(q) = 1/30 q2 − 12.85q…

A: R(q) = 40q − 12q2  A(q) = 1/30 q2 − 12.85q + 20 + 400/q Total cost = A(q) * q

Q: In the long run, it is not possible for a perfectly competitive firm to... a. Alter its plant size.…

A: Prices are the value of goods and see sold in the market.

Q: Imagine a firm in a perfectly competitive market has the short run cost function SRTC=200+10q+0.5q2,…

A: Short-run total cost (SRTC) The SRTC is a cost in the production process that has a short-term…

Q: A perfectly competitive firm is in the following situation: output = 6000 units; market price = $2;…

A:

Q: Consider an industry in a competitive market that consists of 100 firms with identical short run…

A: 100 firms C (q) = 50 + 0.5q2  MC = dC/dq MC =q

Q: For a perfectly competitive firm, suppose that all fixed cost is sunk and total fixed cost is 100…

A: Marginal cost gives firm's short run supply in perfect competition. Firms maximize profit by selling…

Q: Consider the following information: TC = 20 + 5Q + Q2 Q = 25 – P Where TC is total cost, Q is the…

A: Given  Total cost  TC =20+5Q+Q2                      ............ (1) And demand function Q =25-P…

Q: Lasguns are produced by identical firms in a perfectly competitive market. Each firm's Total Cost…

A: Given:  Total Cost : TC=470+13q+q2 Marginal Cost : MC=13+2q Market Demand: P=401-2Q

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

A: According to the given information, there is a perfectly competitive market having no fixed cost. A…

Q: Suppose a firm operating in a perfectly competitive industry has costs in the short run given by:…

A: SRTC = 8 + (1/2)q2 MC = dSRTC / dq => MC = q ------------ SRTC = 8 + (1/2)q2 => ATC = SRTC / q…

Q: Suppose you are the manager of a watchmaking firm operating in a perfectly competitive market. Your…

A: In perfectly competitive market, price is constant so price is equal to marginal revenue. Firms will…

Q: in a perfectly competitive market with a constant cost industry, there are currently 100 identical…

A: A perfectly competitive firm produces at P=MC in short run.  TC= Q2 + 4Q + 36 Differentiate TC w.r.t…

Q: T(q) = R(q) – C(q) = 40q – (35 + 20q + 10q). What is the positive output level that maximizes the…

A: A firm earns maximum profit by producing output at a level where marginal revenue is equal to…

Q: A firm operates in a pure competition market whereby the market price for a product, product A, is…

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Given the cost data in the table below, the firm will shut down and produce zero output if the…

A: The firm incurs loss if total revenue earned is less than total cost. It implies that firm is not…

Q: Suppose the marginal cost and marginal revenue (in ¢000) for a product produced by a company is…

A: Given: MC=q+35 (in ¢000)  MR=560+22q−q2 (in ¢000)

Q: A profit-maximizing firm in a competitive market produces small rubber balls. When the market price…

A: The average cost is the ratio of the total cost to quantity. The average cost rises with the fall in…

Q: Suppose a firm operating in a perfectly competitive industry has costs in the short run given by:…

A: Given, SRTC equation = 8 + ½q2 SRTC is the total cost which comprises fixed cost and variable cost.…

Q: foreign used car dealership which sells the 2020 Toyota Aqua Hybrid. His total cost function is…

A: in a competitive market there are large number of firms producing identical products thus acting as…

Q: The market determined price in a perfectly competitive industry is P = Rs. 10. Suppose that the…

A: Perfectly competitive market is a market structure in which there are many buyers and sellers…