Assume perfect competition: Price: $61 Cost: TC = 7Q + 0.03Q² Solve for the profit-maximizing Quantity produced by an individual firm in the short run. ROUND TO THE NEAREST WHOLE NUMBER. Enter as a value.
Q: 76. If 60% financing is available on a certain income property at a loan constant of 11%, what…
A: A loan is a kind of debt that a person or other organization takes on.The borrower receives an…
Q: Why are there two measures of GDP.
A: The gross domestic product (GDP) is that the most commonly used indicator of an economy's size…
Q: a) Draw Cash flow diagram for each alternative? b) Which machine is preferable on the basis of…
A:
Q: A well educated society can be considered which of the following, as it pertains to economics?…
A: If a person's knowledge and abilities are developed in such a way that they finally result in a…
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: Which of the following is NOT an example of a coordination game? deciding whether to grow tomatoes…
A: Coordination game: in this game players gets the maximum profit when all selects same course of…
Q: The characteristic shape of both ARC and AVC is O upward sloping O falling and asymptotic ot zero O…
A: When variable cost is divided by output amount, the average variable cost is obtained. The average…
Q: Refer to the table below to answer one question. Interest Rate Option March 2020 Cash 0.00% Checking…
A: The instrument that is being used by individuals to carry out day-to-day transactions which are…
Q: Indicate whether the statement is TRUE, FALSE, or UNCERTAIN and explain why. Answer 1 & 2 1. If a…
A: The curve that depicts various quantities of goods and services being supplied by firms at various…
Q: check all that apply; a change in ___ will cause a shift in the entire supplu curve input prices…
A: Supply curve shows the different combination of price and quantity supplied. Its upward sloping…
Q: If a bank has total deposits of $9,000,000 and reserves of $3,000,000 Instructions: Enter your…
A: Reserve requirements are the sums of money held in reserve by a bank to ensure that it can meet its…
Q: If the government sets a price ceiling in the market for fuel oil that falls below the equilibrium…
A: Answer: Price ceiling: price ceiling refers to the legal maximum price set by the government that…
Q: Given P = 300 + 200Qs (demand equation), P = 6300 − 50Qd (supply equation), and TC = 500 + 10Q +…
A: P = 300 + 200Qs (demand equation) P = 6300 − 50Qd (supply equation)
Q: 21. The monopolist represented in Table 1.3 will charge a price of... Table 1.3 Quantity Total Cost…
A: Answer; Option (b) is correct $450
Q: Question 4 If-the US has the capacity to produce more apples and more oranges than Mexico, then…
A: When two or more countries are open to trade, they can make export or import of goods and services…
Q: The inverse labour demand curve of a monopsonist employer is W = 40,500 – 105L, where W is the…
A: A monopsnist is a sole employer in a labor market.
Q: Programs, such as education and on-the-job training, that improve labor productivity are unproven.…
A: The programs which are for labor like to educate them and provide them on-the-job training, are for…
Q: Assume that you buy a 1-year, 210,000-peso Philippine bond that pays 7 percent when the exchange…
A: A foreign bond is a bond given in a homegrown market by a foreign substance in the homegrown…
Q: Justin's farm can produce 5 pounds of apples or 17 pounds of pears in one hour. Samantha's farm can…
A: Opportunity costs basically refers to the the potential advantages that a person, investment, or…
Q: A loan can be settled by monthly payments of $350 in four years at 5.5% compounded monthly. If the…
A: Answers In this question it is asking about the selling price of the contract. So future value of…
Q: If a country grows at a rate of 3% per year, how many years will it take to double in size? The…
A: The economies around the globe are involved in various economic and financial activities, where the…
Q: An art dealer buys a rare painting for $100000 and resells it for $125000. Express her profit as a…
A: He buys at 100,000..and resells at 125,000
Q: Current Stats for Gasoline: Government Enforced Price Ceiling - $4.50/gallon Current Market…
A: The market equilibrium was $3 earlier and Price Ceiling was $4.5. Price ceiling means the price…
Q: (Table: Willingness to Pay) Refer to the table. If the firm increase by how much relative to setting…
A: Given the John's willingness to pay for good A = $90 Mary's willingness to pay for good B = $35…
Q: Peloton article: Why do you think Peloton simultaneously raised subscription rates while lowering…
A: Peloton is upping its monthly subscription fee to incorporate on-demand training content for the…
Q: 1. In the short run marginal product is diminishing because: A. barriers to entry prevent new firms…
A: If we consider labor as an input, the marginal product of that input may be defined as the…
Q: Total cost Price (dollars per ticket) Quantity (tickets (dollars per show) per show) 20 0 1,000 Big…
A: Since you have asked multiple question, we will solve the first three subparts as per honor code for…
Q: Consider the following normal form game Player 2 L C Player 1 U 5,4 8,3 5,5 M 4,5 8.0 6,3 D 3,8 8,8…
A: We have 3x3 simultaneous move game between two players. To find pure strategy nash equilibrium,…
Q: A soap company sold 250,000 soaps for which the variable cost of manufacture was $4.20 per soap.…
A: The answer is as follows:-
Q: 6. Equilibrium prices and quantities are determined by demand D₁ = 200-2p1 and supply S₁ = 2p1-40 in…
A: Answer a. To find the equilibrium, demand is equal to supply of good. Therefore, For Good 1,…
Q: For a monoply A)Plot Margin revenue, demand, marginal cost, to find profit-maximizing price and…
A: Demand TR MR MC 8 0 N/A N/A 7 7 7 5 6 12 5 3 5 15 3 2 4 16 1 2 3 15 -1 3 2…
Q: Common Cause, a trade union for construction workers, recently took up the case of a worker whose…
A: The given incident is a negotiation between the trade union and the Federation of Urban Developers…
Q: Demand and supply equations are given below. Calculate the equilibrium price and the equilibrium…
A: Given: The demand equation is: QD = 150 - 6P The supply equation is: QS = -20 + 4P To Find: The…
Q: Required information Aquatech Microsystems spent $185,000 for a communications protocol to achieve…
A: Inflation is the rate change in the worth of the Wholesale Price Index (WPI) on a year-on year…
Q: Question 7 A promissory note to Bobby for $6000 at 7% annual simple interest from May 5 to…
A: According to the question, Face Value = $6000 Bank Discount Rate = 7% = 0.07 Time Period = 123 days…
Q: Which of the following is true concerning the real value of the United States dollar 1. It is…
A: When talking about the value of US dollar, it can be said that it is the soft currency that is…
Q: For a monoply A)Plot Margin revenue, demand, marginal cost, to find profit-maximizing price and…
A: According to Irving Fisher, a monopoly is a market with "no competition," resulting in a situation…
Q: A manager of a perfectly competitive firm observes the production function Y = 100K ¹/³L 2/3. The…
A: A firm will maximise profit at a point where marginal rate of technical substitution is equal to the…
Q: Firms compensate workers with "benefits" in addition to wages and salaries health insurance. Suppose…
A: Note - As per guidelines we answer three parts at one time. Kindy reposts the other parts. a.…
Q: Find a mixed-strategy Nash equilibrium in which each player puts positive probabilities on at least…
A:
Q: competitive firm's marginal costs always increase with output then at the profit maximising output…
A: A competitive market is one where there are various makers that contend with each other in desires…
Q: What is the annual rate of interest (in %) if P275 is earned in 10 months on an investment of…
A:
Q: Listen Keynes believed that the money supply played a minor role, if any, in causing changes in the…
A: Keynesian economics refers to a set of macroeconomic theories and models that explain how aggregate…
Q: Which of the following markets would have the least amount of concentrated power? Oligopolistic…
A: In oligopoly marker, there is many number of buyers but only few number of sellers.There is product…
Q: A firm sells bagels for £0.51 each. With 8 workers the firm produces 72 dozen per hour, and with 9…
A: Answer: Given, Price of bagels =£0.51 eachTotal product of 8 workers=72 dozens per hourTotal product…
Q: The Steel was sold $650 / ton in the U.S.; the same type of steel was sold for Euro 400/ton. If the…
A: Nominal exchange rate is expressing the price of one currency in terms of another. Real exchange…
Q: 3. What would $1000 become in a saving account at 3% per year for 3 years when the interest is not…
A: In simple interest rate, interest rate is charged on fixed initial value and in compounding interest…
Q: Do the benefits of globalization outweigh the costs
A: Globalization is defined as the integration of different economies of the world through trade of…
Q: Which curve doesn’t have u-shape
A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…
Step by step
Solved in 2 steps with 2 images
- Assume perfect competition:Price: $54Cost: TC = 6Q + 0.03Q2Solve for the profit-maximizing Quantity produced by an individual firm in the short run.Assume perfect competition:Price: $58Cost: TC = 10Q + 0.03Q2Solve for the profit-maximizing Quantity produced by an individual firm in the short run. ROUND TO THE NEAREST WHOLE NUMBER.Enter as a value.Assume perfect competition:Price: $61Cost: TC = 9Q + 0.03Q2Solve for the profit-maximizing Quantity produced by an individual firm in the short run. ROUND TO THE NEAREST WHOLE NUMBER
- A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10, average total cost of $8, and fixed cost of $200. What is its profit? What is its marginal cost? What is its average variable cost?A perfectly competitive firm has total revenue and total cost curves given by: TR = 800Q TC = 4,000 + 12Q + 2 Q2 a. Find the profit-maximizing output for this firm. b. What profit does the firm makeQuantity 10 20 30 40 Fixed Cost 200 200 200 200 Variable Cost 50 100 300 800 Total Cost 250 300 500 1000 Based on the aforementioned chart for a company that is perfectly competitive: A) Calculate the marginal cost using X B) Determine the quantity that will maximize profits if the equilibrium price is $20. C) What kind of profit will the company make? Marginal Cost 0 5 20 X
- Suppose the Christmas trees market is perfectly competitive. A business owner is currently suffering from a loss of $1,000, the cost of producing and selling an additional Christmas tree is $20, and the current market price is $25. The owner should advertise in the market. should shut down his business now. should sell more trees. is already minimizing his loss.Donald is a producer in the perfectly competitive market for cronuts - a pastry that is half croissant, half donut. Total Fixed Cost Total Variable Cost Quantity (cronuts) TFC ($) TVC ($) 125 5 125 10 10 125 18 15 125 32 20 125 52 25 125 82 If Donald's profit-maximising quantity is 20 cronuts, what is the market price per cronut at that quantity? Answer to the nearest whole number (with no decimal places or $ sign).Assume 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.
- Refer to the accompanying figure. If the market for doughnuts is perfectly competitive, then assuming this firm can earn enough revenue to cover its variable cost, it should produce: Price (S/doughnut) 0.35 p 0.30 0.25 0.20 0.15 0.10 0.05 0 0 10 20 30 40 50 60 Marginal Cost 70 80 90 Quantity (doughnuts/day) Average Total Cost 50 doughnuts per day. the quantity of doughnuts at which average total cost is minimized. the quantity of doughnuts at which average total cost equals the market price. the quantity of doughnuts at which marginal cost equals the market price.In the long run, a perfectcly competitive firm will Question 9 options: a) charge a price equal to average total cost b) earn economic profits c) charge a price equal to marginal revenue d) produce where the average total cost curve is at its minimumA firm operating under perfectly competitive market experience normal profit when