4 When I'MaGoldMiner chooses what quantity of gold each of its mines will produce over the next 12 months,this quantity, along with the prices prevailing in the market for output and inputs, will do which of thefollowing?ADetermine the company's total revenue, total costs, and profitsHave no effect on the market forces of demand and supplyCONo longer be dictated by the forces of demand and supplyDODetermine the company's annual revenue, variable costs, and profits 5 Which term is synonymous with a perfectly competitive firm?AOligopolyBOPrivate enterpriseCOPrice takerDOMonopoly

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

When I'MaGoldMiner chooses what quantity of gold each of its mines will produce over the next 12 months, this quantity, along with the prices prevailing in the market for output and inputs, will do which of the following? Determine the company's total revenue, total costs, and profits B Have no effect on the market forces of demand and supply No longer be dictated by the forces of demand and supply DO Determine the company's annual revenue, variable costs, and profits

When I'MaGoldMiner chooses what quantity of gold each of its mines will produce over the next 12 months, this quantity, along with the prices prevailing in the market for output and inputs, will do which of the following? Determine the company's total revenue, total costs, and profits B Have no effect on the market forces of demand and supply No longer be dictated by the forces of demand and supply DO Determine the company's annual revenue, variable costs, and profits

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 53P: Table 3.8 shows information on the demand and supply for bicycles, where the quantities of bicycles...

See similar textbooks

Similar questions

We know that a change in the price of a product causes a movement along the demand curve. Suppose consumers believe that prices will be rising in the future. How will that affect demand for the product in the present? Can you show this graphically?
Describe the mechanism by which supply creates its osi1 demand.
If demand is inelastic, will shifts in supply have a larger effect on equilibrium price or on quantity?
What is consumer surplus? How is it illustrated on a demand and supply diagram?
Assume that the supply of law-skilled worker is fairly elastic, but the employers demand for such workers is fairly inelastic. If the policy goal is to expand employment for low-skilled workers, is it better to focus on policy tools to shift the supply of unskilled labor or on tools to shift the demand for unskilled labor? What if the policy goal is to raise wages for this group? Explain your answer with supply and demand diagrams.
Predict how each of the following economic changes will affect the equilibrium price and quantity in the financial market for home loans. Sketch a demand and supply diagram to support your answers. The number of people at the most common ages for home-buying increases. People gain confidence that the economy is growing and that their jobs are secure. Banks that have made home loans find that a larger number of people than they expected are not repaying these loans. Because of a threat of a war, people become uncertain about their economic future. The overall level of saving, in the economy diminishes. The federal government changes its bank regulations in a way that makes it cheaper and easier for banks to make home loans.
Name some farm that can cause a shift in the supply curve in markets for goods and services.
Table 3.8 shows information on the demand and supply for bicycles, where the quantities of bicycles are measured in thousands. What is the quantity demanded and the quantity supplied at a price of 210? At what price is the quantity supplied equal to 48,000? Graph the demand and supply curve for bicycles. How can you determine the equilibrium price and quantity from the graph? How can you determine the equilibrium price and quantity from line table? What HIE die equilibrium price and equilibrium quantity? If the price was 120, what would the quantities demanded and supplied he? Would a shortage or surplus exist? If so, how large would the shortage or surplus he?
Will supply curves have the same shape in all markets? If not, how will they differ?
What causes a movement along the demand curve? What causes a movement along the supply curve?
In the financial market, what causes a movement along the supply curve? What causes a shift in the supply curve?
Suppose there is a soda tax to curb obesity. What should a reduction in the soda tax do to the supply of sodas and to the equilibrium price and quantity? Canyon show this graphically? Hint: Assume that the soda tax is collected from the sellers.