O See Hint Claire's dog-walking service is a profit-maximizing. competitive firm.Claire walks dogs for $7.50 each. Her total costeach day is $45- she spends $35a day on gas driving to different neighborhoods, and her liability insurance and other fixed costs average out to $10 per day. If Claire walks five dogs a day she should in the short run.

Q: Quantity Total Revenue Total Cost $O $1 1 10 16 2 20 22 3 30 29 4 40 37 5 50 46 60 56 7 70 67 80 79…

A: Marginal revenue is equal to change in total revenue with respect to change in quantity. Marginal…

Q: Figure 6.1 MC ATC AVC MR2 MR, 0. 30 40 50 60 Quantity Refer to Figure 6.1. Given MR2, what is total…

A: Marginal revenue is the increase in total revenue with increase in quantity sold. Average total cost…

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A:

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A:

Q: Figure 16-12 Price 100 90 80 MC 'ATC 70 Fog 85 50 + 40 + 36 30 + 20 10 + MR 4 12 16 20,24 28 32…

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A: Perfect competition is a competitive structure including homogenous products and services and the…

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A: In perfect competition on short run, firms can earn : Abnormal profits Normal profits Losses So the…

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A: Given the price is $1200 Quantity at this price is 130 units ATC = Price = 1200

Q: 11 b. Assume that the market price in the short run is P = $11, Giyen the way YOU drew With the…

A: Long run average cost, or LRAC, is referred to the cost for an unit of output when all the factors…

Q: A. Is this firm working in a comppitive market or monomply? Explain. B. Is it working in short or…

A: The graph is:

Q: Price and cost (dollars per mug) 18 16 6 4 2 0 5 10 15 20 25 30 35 40 45 50 Quantity (mugs per day)…

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A: An economic profit is the difference between the revenue a commercial entity has received from its…

Q: $40 $35 $30 ATC AVC $25 P = MR $20 $15 $10 $5 $0 20 40 60 80 100 120 Output (Q) The diagram above…

A: Given

Q: Quantity (bushels of Total revenue Total cost rutabagas) (dollars) (dollars) 12 1 10 22 2 20 28 3 30…

A: In the perfectly competitive market profit is maximize at that level of output where price equal to…

Q: Figure 6.1 MC ATC AVC MR2 MR, 30 40 50 60 Quantity Refer to Figure 6.1. Given MR2, what is total…

A: Here, it is given that firm is producing 60 units with the minimum average total cost of $4.

Q: Linda sells 100 bottles of homemade ketchup for $10 each. The cost of the ingredients, the bottles,…

A: Profit is revenue adjusted for cost. Cost is the expenditure incurred by firms on the production of…

Q: Question 2 Linda sells 100 bottles of homemade ketchup for $10 each. The cost of the ingredients,…

A: Economic Profit considers both implicit and explicit costs while calculating profit. On the other…

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A: Total cost (TC)= Total Fixed cost (TFC) +Total variable cost (TVC). TFC is cost associated with…

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A: Fixed cost does not depend on output produced. It remains constant even when firm produces 0 units

Q: Devlin is a computer programmer who earned $30,000 in 2011. But on January 1, 2012 he opened a…

A: * SOLUTION :-  Based on the given information the answer is  (a) the Devlin's opportunity cost is =…

Q: If Daniel sells 250 hamburgers at a price of $3.00, and his average cost of producing 250 hamburgers…

A: Profit is the difference between total revenue and total cost.

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A: Total cost is the cost incurred by the firm for the production of final goods.  The cost is divided…

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A: Hi, thanks for the question. As per the guidelines we are allowed to attempt the first three…

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A: Option (b) is correct.

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A: Economic profit is the revenue that is left after paying explicit and implicit cost of a business.

Q: The area covered by rectangle CDFE is the firm's total cost. O total revenue. O profit. O None of…

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Q: Calculate marginal Revenue if it's given:- Change in total revenue = $350 Change in output = 20…

A: The data presented in the question above is:- Change in total revenue = $350 Change in output = 20…

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A: Answer is given in step 2

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A: Marginal cost is the additional cost incurred with an additional unit produced.

Q: 3) A firm produces 50 000 boxes in one month and market price of these shoes is 10 TL per box. The…

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Q: QUESTION 27 John's Software Service Company is in a perfectly competitive market. John has a total…

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A: a) Q TVC TFC TC ATC AVC AFC MC 1 12 18 30 30 12 18 - 2 20 18 38 19 10 9 8 3 24 18 42 14 8 6…

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