Suppose the industry equilibrium price of residential housing construction is a $100 ports per square foot and the minimum average variable calls for residential construction contractor is $110 per square foot you should advise the owner of the farm to increase output, decrease output or shut down
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- T-Shirt Enterprises is selling in a purely competitive market. It is producing 3,000 units, selling them for $2.00 each. At this level of output, the average total cost is 2.50 and the average variable cost is $2.20. Based on these data, the firm should Multiple Choice shut down in the short run. decrease output to 2,500 units. continue to produce 3,000 units. increase output to 3,500 units.Suppose that the market equilibrium price for a routine service of a four-cylinder car is $270 and the minimum average variable cost of such service at your local mechanic is $300. What would you advise the owner of this business to do? Explain.Short-run supply and long-run equilibrium Consider the competitive market for titanium. Assume that, regardless of how many firms are in the industry, every firm in the industry is identical and faces the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves shown on the following graph. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.
- Assume the market for chips is perfectly competitive. The market supply and demand curves for chips are given as follows: supply curve: P = 0.000002Q demand curve: P = 11 - 0.00002Q The short run marginal cost curve for a typical chips factory is: MC = 0.1 + 0.0009Q Determine the equilibrium price for chips. Determine the profit maximizing short run equilibrium level of output for a chips factory. Assuming that all of the chips factories are identical, how many chips factories are producing chips?Marketers strive to deliver a profitable product for their firm. Marketers must understand break-even point calculations and sales targets. Your firm has the ability to produce and sell 10,000 units with a variable costs are $350 per unit and your fixed costs are $250,000, what price must you charge to achieve $100,000 gross profit? Show your equations and calculations. short answerThere are 38 nearly identical ABC stores within a one-mile radius in Waikiki. The combined size of these 38 stores allows ABC to offer large quantities at favorable prices. a. ABC gained market power through a.economies of scale b.government protection c.control of an important input . b. ABC’s market power a.does b.does not guarantee that the firm makes an economic profit.
- Assume a certain firm in a competitive market is producing Q = 1,000 units of output. At Q = 1,000, the firm's marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit. To maximize its profit, the firm should a. increase its output b. continue to produce 1,000 units c. decrease its output but continue to d. shut downYou are asked to employ the studied model of Perfect Competition to analyse the fishers in the Australian lobster market based on this article above. After justifying the use of this model for this market, explain how the changes in market price and production costs would impact a firm in the short run. Comment on changes in economic profits, and the (short run) shutdown decision.Marketers strive to deliver a profitable product for their firm. Marketers must understand break-even point calculations and sales targets. Your firm has the ability to produce and sell 10,000 units with a variable costs are $350 per unit and your fixed costs are $250,000, what price must you charge to achieve $100,000 gross profit? Show your equations and calculations
- if a perfectly competitive firm's output price is $10 and the firm is producing 500 units with a marginal cost of $7, then the firm should increase output in order to increase profit. Group of answer choices True FalseIn a constant-cost industry, price always equals a)LRMC and minimum LRAC b)LRMC and LRAC, but not necessarily minimum LRAC c)minimum LRAC, but not LRMC d)LRAC and minimum LRMC e)minimum LRAC and minimum LRMCAlpha, a company is selling in a perfectly competitive market. Its output is 100 units which sells for $4 each. At this level of output, total cost is $500, total fixed cost is $110, and marginal cost is constant at $4. In the short run, the firm should Group of answer choices reduce output to about 40 units reduce output to about 80 units continue to produce 100 units produce zero units of output There is not enough information to tel