MC P. ATC P, AVC P2 P, 18. Refer to the above diagram for a purely competitive producer. The lowest price at which the firm should produce (as opposed to shutting down) is: A. P,. В. Р. С. Рз- D. P4. 19. Refer to the above diagram for a purely competitive producer. The firm will produce at a loss at all prices: A. above P,. B. above P3. C. above P4. D. between P, and P3. 20. Refer to the above diagram for a purely competitive producer. If product price is P3: A. the firm will maximize profit at point d. B. the firm will earn an economic profit. C. economic profits will be zero. D. new firms will enter this industry. 그
Q: Q2. Mary makes cheese sandwiches for herself every week, and she has her own receipt with two pieces…
A:
Q: Property 400 The monetary mulfiplier for the commercial banking system is Mutole Choice 15 t0 5. 20
A: The monetary multiplier helps us to calculate the amount of money created by banks with the help of…
Q: A farmer is located next to the rancher. They face the following problem.Cattle graze on the…
A: The Coase theorem postulates that when property rights are clearly defined, perfect competition…
Q: 4. Analyse the concept of morality and its relation to human conduct. 5. Discuss TWO (2) ethical…
A: An ethical dilemma is a problem in the decision-making process between two possible options, neither…
Q: The following diagram illustrates the cost and revenue curves of a monopolistic competitive firm.…
A: Optimal profit occurs when Marginal Revenue is equal to the Marginal Costs. The marginal Revenue and…
Q: Use the following information to answer the question Quantity (number ofFixed Variable Total…
A:
Q: Suppose a monopolist faces a demand curve Q=300-6P and has a constant marginal cost of 20. The…
A: The monopoly's profit-maximizing option is to produce at the quantity where marginal revenue equals…
Q: Quantitiy 4 2 2019 Price 1,5 1,5 4 Quantitiy 2020 Price 2,5 4 1 Quantitiy 4 2021 Price 3 1,5 2,5…
A: the GDP deflator is described as a measure of the level of prices of all new, domestically…
Q: Suppose a firm wants to produce 50 units of output at minimum cost and it has three factories with…
A: The output must be distributed in a such way that equate the Marginal costs across the plants. Or…
Q: Q5. Jason has preferences defined over novels (good x) and DVDs (good y) described by the utility…
A:
Q: Q1. Jason has preferences defined over novels (good x) and DVDs (good y) described by the utility…
A:
Q: 1. Identify the four basic inputs to an economic system, and give examples for each of them.
A: The answer is as follows:-
Q: Discuss which exposure might be viewed as the most important to manage, translation exposure or…
A: The risk that a company's equity, assets, obligations, or income will change in value as a result of…
Q: Consider the following game. There are two players: an incumbent (denoted by I) and a potential…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: ade, the challenger will be depreciated with the straight line method over a 20-year life with an…
A: Given, Defender Challenger Initial cost 65000 70000 Operational cost 15000 9500 Market…
Q: 1. A) Discuss the relationship between trade and economic growth. What are the key channels through…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Within the Eurozone, a country cannot change its exchange rate to re-establish the competitiveness…
A: In the mentioned question we have been asked if there is a requirement of re-establishment of…
Q: 8. The cost of producing a small transistor radio set consists of P23.00 for labor and P37.00 for…
A:
Q: A car costs $35,000 in the United States and 3,675,000 yen in Japan. The exchange rate is $1 = 103…
A: Answer I attached below
Q: Aside from the lack of benefits what are the potentially negative effects for a society of the gig…
A: The gig economy is just the possibility that a different gathering with contrasting professional…
Q: Questions 1 An indifference curve is Group of answer choices the different combination of two…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Berger Paints sold the following volumes of white paint over the last four as shown (week 1-750 kg,…
A: Answer; Option (c) is Correct
Q: answer question d Q5. Jason is running a cleaning business, there are available labours (L) and…
A: We are going to use optimal allocation condition to answer this question.
Q: D7) Given that U= 40q0.6 q20.4 and 20q1+6q2=378. Compute the optimal commodity bundles of q1 and q2
A:
Q: According to the Descartes' rule, the number of positive i* value for the following cash flow is:…
A: The number of the positive real roots is at most equal to the number of sign changes, according to…
Q: Suppose we have a small open economy model with neatral money. (ch17) The monetary agency increases…
A: Money Neutrality refers to the phenomena that the change in money supply impacts price levels in the…
Q: Suppose in Fiscalville there is a 0 percent tax on the first $10,000 of income, but there is a 20…
A: "Since you have posted a question with multiple sub-parts,we will solve first three parts for you.To…
Q: The value of a home increases by 7% each year. Explain why the value of the home doubles…
A: Let the value of home is $100 this year. Given r= 0.07
Q: describe your ideal market
A: A ideal market is one with perfect competition, with prices determined only by demand and…
Q: Need both of these. True or false questions. I am not 100% certain on my answers. The basic…
A: The quantity theory of money was proposed by Irving Fisher, a classical economist, in 1911, and…
Q: Question 3 Consider a hypothetical conflict between countries R and U, involving a third country A.…
A: Given information 3 players R, U and A R has 2 strategy : War and negotiation U has 2 strategy : War…
Q: The government has the ability to influence the level of output in the short run using monetary and…
A: To stabilize the economy, fiscal and monetary policies are typically combined. Assume that a…
Q: Explain how each of the following will affect aggregate demand. In each case, draw a diagram to show…
A: Answer: (c). If the government passes legislation that increases the rate of corporate taxes then…
Q: A simple random sample of 37 rolling-and-wheeled backpacks being sold on Amazon had a mean price of…
A: As given sample size = 37 Mean price = $67.49 Population standard deviation = 14.33 Value of 90%…
Q: 6, Given the equations for C, I, G, and NX below, what is the equilibrium level of GDP? C=1,000 +…
A: Answer; The equilibrium GDP is $19250
Q: A movement to the right along a given short-run Phillips Curve could be caused by?
A:
Q: How will an increase in aggregate demand most likely affect the economy in the long run? Because…
A: If there is an increase in aggregate demand, it will lead to increase real GDP and price level in…
Q: Expected utility = Utility × subjective probability . Question- Explain what you understand from…
A: In economics, "expected utility" refers to the utility that a person, entity, or aggregate economy…
Q: y = A(1-gA) e ga is the fraction of all workers that produce technologies. Further, suppose the h of…
A: Production function is maximum output that can be delivered with a given set of data sources.
Q: When the price of bottled water rises from $3 to $5 a unit, the quantity supplied increases from…
A: Elasticity of supply measures the responsiveness of quantity supplied to changes in price level.
Q: How does an increase in the discount rate by the Federal Reserve affect the money supply and the…
A: The discount rate is the interest rate at which the central banks give loans to the commercial…
Q: What are some of the factors that are discouraging peace? 1:22 PM
A: Peace is defined as a state of interpersonal friendliness and concord that exists in the lack of…
Q: Suppose that the U.S. government decides to charge cola producers a tax. Before the tax, 50 million…
A:
Q: Abdullah has his own Auto Shop and produces one type of service. He spends 250 KD a month to rent a…
A:
Q: Can the Philippines benefit from the UN Sustainable Development Goals?
A: Sustainable development is a strategy of economic planning that tries to boost economic growth while…
Q: Which of the following is not possible? When the total product is decreasing, marginal product is…
A: Total product is the summation of the all product produce with the help of factors of production.…
Q: nterested in purchasing a new delivery vehicle so it can become a subcontractor with Amazon…
A: *Answer:
Q: A movement to the right along a given short-run Phillips Curve could be caused by?
A: In economics, the Phillips curve is the curve that is used to represent the economic relationship…
Q: 5. Suppose the market is perfectly competitive. The market equilibrium market price P = $20. A…
A:
Q: outer belt highway is being planned for The initial cost is estimated to be $170,000,000. Benefits…
A: A cost is the amount of money that has been spent to produce something or provide a service and is…
Trending now
This is a popular solution!
Step by step
Solved in 5 steps
- Good Grapes is selling grapes in a purely competitive market. Its output is 5,000 pounds, which it sells for $5 a pound. At the 5,000-pound level of output, the average variable cost is $4.00, the marginal cost is $4.25, and the average total cost is $4.50 a pound. Should the firm increase output, decrease output, or not produce? Why? How should the firm determine the optimal level of output?In a competitive market, the long-run demand is given by P = 20 - (0.01)*q Firms in the industry have as their cost structure the expression C = q3 - 5q2 + 10q. Determine: (a) equilibrium price b) Quantity produced-sold of the firm. c) What quantity is traded in the market? d) Over what time period does this market work? (short or long term?) e) What is the profit of the individual firm? f) What will be the behavior of the individual firm, will it exit or stay in the market?Please answer all 1. Coldwater Bicycle Company operates its factories at capacity and holds a dominant market position in its home country. When it receives a premium priced order from a new customer in another country, it must decide whether to fill that order or continue to supply the full demand in its home market. When it decided not to completely fill the new order, it incurred Group of answer choices a. Sunk costs b. Average costs c. Opportunity costs d. Marginal costs 2. What might happen if a car dealership is awarded a bonus by the manufacturer for selling a certain number of its cars monthly, but the dealership is just short of that quota near the end of the month? Group of answer choices a. Potential buyers will lose buying power at the dealer b. It may sell the remaining cars at huge discounts to hit the quota c. It creates an incentive to sell cars from different manufacturers d. It would ruin the relationship between dealer and manufacturer…
- Suppose a perfect competitive firm’s total cost curve and marginal cost curve are TC= Q2+ 4Q+100 Also suppose that the market equilibrium price is given as $20. A. Find equations for the firm’s fixed cost (FC), variable cost (VC), average total cost (ATC), average variable cost (AVC) and Marginal cost (MC). B. Find the output level that minimizes average total cost (ATC). C. Calculate the price below which a firm in the market will not produce any output (the shutdown price).Assume that price is greater than average variable cost. If a perfectly competitive seller is producing at an output where price is $11 and the marginal cost is $14.54, then to maximize profits the firm should continue producing at the current output. produce a larger level of output. produce a smaller level of output. not enough information given to answer the question.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 How much output should the firm produce in the short run? What price should the firm charge in the short run? What are the firm’s short-run profits? What adjustments should be anticipated in the long run? Calculate the new optimal quantity and price.
- Fruit market (a perfectly competitive market), the industry demand and supply of tomato (a homogenous product) is given by the following equations respectively: Qd = 50 − P Qs = 1 + 3P The typical firm’s total cost is given by the following equation: TC = 10 + 0.5Q2 + 5Q What is the profit maximizing level of output for the firm? How much profit is this firm earning? Show it graphically Is it short run or long run? Explain!(Figure: Price and Quantity of Output and Table I) For simplicity, assume that there are only three firms in a perfectly competitive industry; their short-run supply curves are depicted in the graph. At a market price of $40, the industry output is ____. A. 4 B. 1 C. 15 D. 9.5 Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.The demand curve and supply curve for carpet cleaning in the local market are currently as follows: Demand: Q = 1,000 - 1OP Supply: Q = 640 + 2P The total cost function for the typical carpet cleaning company is: TC= 75 + 3q2 (so that FC=75, VC=3q2 and MC= 6q), where costs are measured in dollars and q is output per year. The market is perfectly competitive. First question how do I calculate the optimal output for the typical carpet cleaning firm in the short run and how many firms would operate in the market in the short run? Second, how would I compute operating profits and total profits for the typical firm in the short run. Based on the results so far, would you say that this market is at the long-run equilibrium?
- Please no written by hand solutions 9. A firm produces a product in a perfectly competitive industry and has a short-run total cost function of SRTC= 50+ 4q+2q. In the short-run, the market equilibrium price is $20 and the firm's profit maximizing quantity is_ Assuming there is no change in cost structure, in the long-run the equilibrium price changes to a. 4; $24 b. 4:$15 c. 5; $24 d. 5:$15 10. The market for sugar consists of 3,500 identical firms, each with the following short-run total cost function: SRTC-1,500+ 35q. The market demand curve for sugar is Q=11,200- 30P. What is each firm's short-run profit? a. So b. $280 c. -$1,080 d. -$1,360 e. -$1,500Assume the industry for flour tortillas in Denver is perfectly competitive. There are 200 firms. Seventy-five of the firms are “high-cost,” with short-run supply curves QHC = 5P. The other 125 are “low-cost,” with short-run supply curves QLC = 8P. Quantities are measured in dozens of tortillas and prices in dollars. Derive the short-run industry supply curve for tortillas QS. Assume the market demand curve for tortillas is given by QD = 10,000 − 625P. Find the market equilibrium price and quantity. At this price, how many dozens of tortillas are produced by the high- and low-cost firms, respectively? Determine total industry producer surplus at the equilibrium. Especially need the producer surplus.Q 1. Refer to Table 4 above. What quantity of output should the perfectly competitive firm produce? a.0 b.5 c.6 d.7 e.8 Q2. Refer to Table 4 above. What price does this perfectly competitive firm charge for its product? a. $10 b. $20 c.$15 d.$30 e.There is not enough information to answer this question