Which of the following is not a characteristic of a competitive price-searcher market? A Each firm produces a differentiated product. B с The entry barriers are high. Each firm faces a downward-sloping demand curve. D The number of firms in the market is large. 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.
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I EE Question 12 Which of the following is not a characteristic of a competitive price-searcher market? A Each firm produces a differentiated product. B с The entry barriers are high. Each firm faces a downward-sloping demand curve. D The number of firms in the market is large.
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.
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- Which of the following is a way to deter entry? OA. increase costs through legislation that affects only new entrants OB. obtain a patent so that others must license your invention OC. raise switching costs for customers that use your products OD. All of the above.Suppose that the market is comprised of a single firm, which faces a de-mand curve of P = 110 − 3Q, and total costs of T C = 500 + 9Q + 0.1Q2.(a) What quantity maximizes total revenue?(b) What would profit be if the firm produced that quantity?(c) What quantity minimizes per unit costs? (d) What would profit be if the firm produced that quantity?(e) What quantity maximizes the firm’s profit?(f) What would profit be if the firm produced that quantityRequired information. Graph A shows the market demand and supply i... Graph A shows the market demand and supply in a perfectly competitive market. Graph B shows the cost curves of a representative profit-maximizing firm in that industry. Qayerd Onthousand) ATC AVC 100 129 Otype per TB 08-94 Refer to the above figure to answer this que... Refer to the above figure to answer this question. Suppose that the industry demand was to increase by 3,000 units. At the new equilibrium, wh
- R $15 0 MC ATC D MR-P The market for an inferior good is perfectly competitive in a constant cost industry and currently characterized by demand curve D1 and supply curve S1. A decrease in income will cause: once again earn normal profits. a) the demand curve to shift to D2, causing firms to earn economic profits. The supply curve will shift to S2 and firms v the firms will continue to earn economic profits. b) the demand curve to shift to D2, causing firms to earn economic profits. The supply curve will remain the same and c) the demand curve to shift to D1, causing firms to earn economic losses. The supply curve will decrease to S1 as firm exit the industry. Eventually the market price will rise and firms will earn normal profits. d) the supply curve to shift to S1, causing firms to earn economic losses. The demand curve will decrease to D1 as fi enter the industry. Eventually the market price will fall and firms will earn normal profits.17 of 16 BNW is one of many producers of luxury wheelchairs, which are differentiated to appeal to different market niches. BNW's Price per chair relevant demand and cost curves are depicted in the graph. $2,000 Average total Use this graph to answer the questions. Assume that there are 1,800 Marginal cost no significant barriers to entry. cost 1,600 Determine BNW's profit-maximizing price and quantity. 1,400 1,200 1,000 price per chair: $ 800 600 400 quantity of chairs: chairs 200 Demand Marginal revenue 100 200 300 400 500 600 700 800 900 Calculate BNW's profit. Chairs per week BNW's profit: $The following graph depicts the costs incurred by a Local egg seller, Rahim. Rahim is faced with strong competitors who are selling exactly the same product. Use the graph to answer the following questions- Price/Cost per egg MC 12 ATC MR3 AVC MR2 MR1 Quantity 100 200 300 400 a)lf the market price per egg is 8tk, in order to maximize profit how many eggs does Rahim sell? b)lf the price stays at 8tk, what happens in the long run? choose from the following options. option 1: Rahim stops selling eggs. option 2 : New firms enter into the egg market option 3: all existing sellers suffer from an economic loss. c)lf the price falls down to 3tk price, which of the following option does Rahim have in short run? option1: Temporarily shutting down the business business option 2 : staying in generating no profit option 3: indifferent between staying in and going Out of the market. but
- COURSE: MICROECONOMICS 2 - MONOPOLY IN DURABLE GOODSA monopolistic firm has estimated its inverse demand function as P = 200 − 0.5 Q + 40*(1/UL) with a increasing marginal cost (MC) estimated to be 10 Q. (a) Estimate effect on firm's extraordinary profit if it changes useful life (UL) of its product from 8 years to 5 years. b) What will happen to selling price?This profit-maximizing/ loss minimizing firm is ? Note:- Please refrain from offering handwritten solutions. Please ensure that your response maintains accuracy and quality to avoid receiving a downvote. Take care of plagiarism. Answer completely. You will get up vote for sure.A firm with market power sells its product in rre markets. The price in Market lis three times the price in Market 2 Assuming the firm faces the same constant mbrginal cost in each market and the price elasticity of demand in Market 1 is -1.2, the demand in Market 2 has an elasticity of -2. has an elasticity of -3.6. has an elasticity of-0.4. is less elastic than the demand in Market 1
- You own Athleticon, which manufactures athletic wear. Your new contract with Atlanta United, a professional soccer team, allows Athleticon to be the sole suppler of athletic wear with the “Atlanta United” logo. No one lese can manufacture athletic wear with the “Atlanta United” logo. What do you think will be Athleticon’s level of profitability on the sale of “Atlanta United” athletic wear? Explain why. Your contract with Atlanta United only lasts 3 years. It was not renewed. Other firms can now manufacture athletic wear with the “Atlanta United” logo It is now 5 years after your contract with Atlanta United was terminated. Any manufacturer that wants to can manufacture and sell athletic wear with the “Atlanta United” logo. What do you think will be the level of profitability and rate of return on manufacturing athletic wear with the “Atlanta United” logo? Explain why.True or False: (D). A monopoly earns total revenue of $5000 when it sells 500 units of output and total revenue of $5400 when it sells 600 units of output. Thus, the marginal revenue of the 600th unit is $9. (E). We call a market where there is only one buyer for a good or service a monopoly. (F). There are a few firms selling differentiated products in a monopolistically competitive industry. (G). When a demand curve is a downward sloping straight line, the slope of the marginal revenue curve is twice as steep as the demand curve.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 The burrito truck industry in the city is perfectly competitive. On any given evening, the market demand for burritos is given by Qp = 88 - P: where QD is the quantity of burritos demanded per evening, and p is the price of a burrito. Each burrito seller must pay $50 per day to rent a burrito truck. In addition, the cost of ingredients for each burrito is $3, regardless of how many burritos are sold. Given space constraints, each burrito truck is able to serve a maximum of 10 customers per evening. In a long-run equilibrium in the burrito industry, the number of sellers (burrito trucks) in the market every evening will be _____