MC ATC 24 P = MR 8 20 E 18 4 100 350 500 700 9 Bales of hay from the graph of a perfectly competitive firm above, answer the following questions:# 1. What is the profit maximization level of of output? ( 2. What is the value of ATC at the best level of output? 3. what is the amount of profit the firm makes at that level of output? show your calculations. 4. At what price firm will breakeven

Q: Given the demand and supply functions, determine the price elasticity of demand and price elasticity…

A: The formula for elasticity is given by: e = dQdP x PQ   So our demand function is : Qd = 10 - (1/2)P…

Q: In the mobile phone market, Samsung and Apple constitute a duopoly in the production of devices. The…

A: Duopoly is defined as the type of oligopoly where there are two firms that have dominant control…

Q: If the simple Keynesian macroeconomic model is used to explain expansionary fiscal policy, which of…

A: The theory of Keynesian economics states that the government should raise demand to increase growth.…

Q: 10. Which of the following statements are true about a social enterprise? Group of answer choices…

A: A social enterprise, often known as a social business, is a company that has specified social goals…

Q: Economics According to the climate graph, what is the range of temperature recorded in the city of…

A:

Q: There are two firms, A and B emitting sulfur dioxide. In total, they emit 100 tons of sulfur…

A: In total, Firm A and Firm B emit 100 tons of sulfur dioxide. The EPA wants to reduce the level of…

Q: If a person moves $1,000 from a small-denomination time deposit to a demand deposit account, Select…

A: Money is an economy's primary and most important medium of trade.' Goods are efficiently bought and…

Q: Using the same given, over what range of prices is y elastic with respect to p?

A: Elasticity of demand is defined as type responsiveness of the quantity demand when price of the…

Q: According to the climate graph, what is the range of temperature recorded in the city of Yakutsk?…

A:

Q: 5. Imagine inflation is 10%, and the central bank wants to have inflation equal te 2%. When…

A: Mutated Phillips's Curve equation - π = πe  - α(U - U*) Where ,  a = slope of PC  U* = Natural rate…

Q: Car Wash data Cars Washed Marginal Product of Labor (workers) VMPL Labor (cars per day) 1 11 2 23 3…

A: Marginal Product of labor means how much extra unit of output the new labor brings when he enters…

Q: 3. Consider the following degenerate game. Please find all the pure and mixed strategy Nash…

A:

Q: In the below figure, a consumer is initially in equilibrium at point C. The consumer’s income is…

A: The farther the indifference curve is from the origin, the higher the utility/satisfaction it yeilds…

Q: (a) The figure 2 shows the situation facing Wel1 Done, Inc., a producer of steak sauce. What…

A: When marginal revenue is much less than the marginal cost of production, a corporation is generating…

Q: Inflation targeting a strategy in which the central bank pursues   a. a certain numerical…

A: Central Bank implements monetary policy for different purposes according to the needs of the economy…

Q: At Which stage of production is the best to economic growth?

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: India’s GDP per capita increased from $310 in 1991 to $1,489 in 2012.   (i) Calculate the average…

A:

Q: Putting Virtual Reality on the Market: Is It Possible?

A: virtual reality markets include brands advancing themselves and their items by utilizing virtual and…

Q: Eop = -(7P +4P?)/Q

A: We have  Price elasticity of demand  eQP=-7P+4P2Q                .... (1) We have to find the demand…

Q: An overly expansionary monetary policy leads, in general, to: a. High inflation O b. High…

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: A British pound cost $2.00 in U.S. dollars in 2008, but $1.27 in U.S. dollars in 2017. Was the pound…

A:

Q: Exercise 1  a) Use the equation for the circular flow of the real economy to give an overview of the…

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

Q: Refer to the table below for the following question. Suppose this economy has labor force…

A:

Q: Is the mpc in the multiplier .75?  only because multiplier is 1/(1-mpc) which would make sense for…

A: In the original question, MPS has given by stating "average households will save 25 cents of every…

Q: Clothing R 30 Food Entertainment 2021 Price R 125 R5 2021 Quantity 45 15 8. 2022 Price R 140 R 45 R8…

A: Formulas: 1. CPI = (Cost of basket of goods in current year / Cost of basket of goods in base year)…

Q: Economics Assume that a country is endowed with 47 units of oil reserve. (a) the marginal…

A: * SOLUTION :-    Given that ,    Marginal willingness to pay = demand curve equation : P = 10 -…

Q: If the above assumption did not hold, the change in the money supply would be ________(less…

A: Banks are required to have a specific quantity of liquid deposits (such as cash) on hand; exceeding…

Q: Explain what is trade in contingent claims and how can it help

A:

Q: National Income Statistics for ABC in 2022 ITEMS MILLION Agriculture 10000 Mining and quarrying 1500…

A: The measure that depicts the value of services and goods that are being produced within a given time…

Q: A car-rental company is interested in the amount of time its vehicles are out of operation for…

A: * ANSWER :-    From the given information the answer is provided as below

Q: Suppose 2 players play the following game infinite times in the future. What should be the minimum…

A: In game theory, the Nash equilibrium is the equilibrium outcome from which none of the players have…

Q: For points 1 to 4– Identify the tem and relevance of each point represented. 1 = 2 = 3 = 4 =

A: Total product is the sum of total output produced by the firm by using the given level of inputs. On…

Q: Define the following common rating errors/biases and give an example per item. 1. Leniency…

A: Anything that causes a systematic divergence between a population's real parameters and the…

Q: Suppose Amber and Jade can spend their days making croissants or writing poems. Their output per…

A: Answer: A mutually beneficial trade will occur if both individuals specialize in the production of…

Q: National Income Statistics for ABC in 2022 ITEMS MILLION Agriculture 10000 Mining and quarrying 1500…

A: GDP measures the final value of goods and services that are produced in a country during a…

Q: how the 17 UN sustainable development goals are inter-related. Show SDG7 inter-relation with other…

A: Introduction The United Nations' Sustainable Development Agenda lays out a complete perspective for…

Q: Given the information in the extract, the Simple Keynesian Macroeconomic Model concludes the…

A: The primary premise of this school of thought is that government intervention can stabilise the…

Q: D3) The dominance of the US economy and incredible market returns from 1946-present can, in…

A: The United States, the United Kingdom, and China released the Potsdam Declaration on July 26, 1945,…

Q: 4. Suppose that Okun's law can be described by the following equation: Y-Y* = -3(u – u') Y* Where u…

A: Okun's Law is an experimentally established link between unemployment and output losses in a nation.…

Q: 2. Consider a firm in a competitive market that has the cost function C(q) = 8 + 2q°, where q is the…

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

Q: In a hypothetical economy, coal is sold to electricity producers at a rate of 100 cents per kW (i.e.…

A: Here, the value addition in the good from coal to final electricity provided to consumers is given…

Q: Consider the market below for a large country. Focus on the equilibrium when the country imposes a…

A: A tariff is a tax imposed by the government of a country or by a supranational union on imports or…

Q: Consider the market for ice cream cones. Suppose that supply in this market is given by PS = QS and…

A: The price elasticity of supply is a measurement of how sensitive the amount provided is to price…

Q: Consider a 10-player characteristic function where any coalition of eight players or more creates a…

A: A coalition of eight players or more creates a total surplus of $5000, v(S) = 5000, if |S| ≥ 8,  A…

Q: Arona would like to receive $15,820 each year for the next 5 years, starting today.  Then she hopes…

A: Because payment is due today or at the starting of the year, this is annuity due problem. For PW =…

Q: Find the producer surplus

A: According to the image given in question: Demand function: Qd=10-3P Supply function: Qs=-3+5P…

Q: Question 3 options: At any point in time,  the cost of equipment less any depreciation to date is…

A: Answer to the question is as follows:

Q: Table 1 shows the demand and supply of cat food per year Price Quantity demanded Quantity supplied…

A: a) "Equilibrium occurs at a point where quantity demanded of a good equates the quantity supplied of…

Q: 5. A movement along a supply curve for a good happens: a. If price or quantity supplied of the good…

A: A supply curve is called the connection between the amount of a good or service in supply and the…

Q: please solve 4 and 5

A: From the given table, the minimum of the average total cost is 9, and given that the minimum of…

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.