Glowglobes are produced by identical firms in a perfectly competitive market. Each firm's Total Cost function is TC=225+14q+q^2 and Marginal Cost function is MC=14+2q. Market demand is Q=316-P. If the market price is $85, what are the revenues each firm earns?
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Glowglobes are produced by identical firms in a
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- The market price a perfectly competitive firm has to take is pm and the total cost to the firm is TC(Q)=aq+Bq2 +y , where y is fixed cost of the firm . Find the optimal output to the firm in terms of market price pm. Express also maximum profit. How does maximum profit depend on the market price and the level of fixed cost? All parameters are assumed to be positive.?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?Glowglobes are produced by identical firms in a perfectly competitive market. There are 19 firms in the market. Each firm's Total Cost function is TC=396+2q+q^2 and Marginal Cost function is MC=2+2q. Market demand is Q=484-P. What is the profit earned by each firm in the short-run?
- 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=341+q^2 and Marginal Cost curve MC=2q. Market demand is Q=627-2P. If the market price is $84, what is the short-run profit maximizing quantity for each firm?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?Glowglobes are produced by identical firms in a perfectly competitive market. There are 18 firms in the market. Each firm's Total Cost function is TC=538+2q+q^2 and Marginal Cost function is MC=2+2q. Market demand is Q=488-P. What is the quantity produced by each firm in the short-run?
- 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.Glowglobes are produced by identical firms in a perfectly competitive market. Each firm's Total Cost function is TC=599+17q+q^2 and Marginal Cost function is MC=17+2q. Market demand is Q=517-P. If the market price is $95, what is the quantity each firm produces?A firm sells its product in a perfectly competitive market where other firms charge a price of $110 per unit. The firm estimates its total costs as C(Q) = 70 + 14Q + 2Q2. Thus, the marginal costs are MC(Q) = 14 + 4Q. How much output should the firm produce in the short run?
- Glowglobes are produced by identical firms in a perfectly competitive market. There are 22 firms in the market. Each firm's Total Cost function is TC=284+3q+q^2 and Marginal Cost function is MC=3+2q. Market demand is Q=326-P. What is the short-run equilibrium market price?Suppose the total cost to produce quantity q is TC(q) = 10 + q^2/10, and hence, marginal cost is MC(q) = q/5. If this firm is a price-taker and the market price is p = 10 and its fixed cost is sunk, then the firm's profits will be:Suppose the (inverse) demand for a firm’s product is given by P = 10−2Q and the cost function is C(Q) = 2Q What is the profit-maximizing level of output and price for this firm?
