Firm A profit max Firm B cannot sell any cannot sell any cannot sell any cannot sell any profit max can sell, but would lose money can sell, but would lose money Quantity 4 5 6 7 8 9 10 price Quantity 4 5 6 7 8 9 10 $50,000 $200,000 $45,000 $225,000 $40,000 $240,000 $35,000 $245,000 $30,000 $240,000 $225,000 $200,000 $0 $25,000 $20,000 price total revenue $50,000 $45,000 $40,000 $35,000 $30,000 $25,000 $20,000 How much profit can firm B make, at maximum? total revenue $0 $0 $0 $0 $240,000 $225,000 $200,000 marginal revenue total cost marginal cost $160,000 $25,000 $175,000 $15,000 $190,000 $5,000 $205,000 ($5,000) $220,000 ($15,000) $235,000 ($25,000) $250,000 marginal revenue total cost $160,000 $0 $175,000 $0 $190,000 $0 $205,000 $240,000 $220,000 ($15,000) $235,000 ($25,000) $250,000 total profit $40,000 $50,000 $50,000 $15,000 $15,000 $15,000 $40,000 $15,000 $20,000 $15,000 ($10,000) $15,000 ($50,000) marginal total cost profit ($160,000) $15,000 ($175,000) $15,000 ($190,000) $15,000 ($205,000) $15,000 $20,000 $15,000 ($10,000) $15,000 ($50,000) average total cost $40,000 $35,000 $31,667 $29,286 $27,500 $26,111 $25,000 average total cost $40,000 $35,000 $31,667 $29,286 $27,500 $26,111 $25,000

Firm A profit max Firm B cannot sell any cannot sell any cannot sell any cannot sell any profit max can sell, but would lose money can sell, but would lose money Quantity 4 5 6 7 8 9 10 price Quantity 4 5 6 7 8 9 10 $50,000 $200,000 $45,000 $225,000 $40,000 $240,000 $35,000 $245,000 $30,000 $240,000 $225,000 $200,000 $0 $25,000 $20,000 price total revenue $50,000 $45,000 $40,000 $35,000 $30,000 $25,000 $20,000 How much profit can firm B make, at maximum? total revenue $0 $0 $0 $0 $240,000 $225,000 $200,000 marginal revenue total cost marginal cost $160,000 $25,000 $175,000 $15,000 $190,000 $5,000 $205,000 ($5,000) $220,000 ($15,000) $235,000 ($25,000) $250,000 marginal revenue total cost $160,000 $0 $175,000 $0 $190,000 $0 $205,000 $240,000 $220,000 ($15,000) $235,000 ($25,000) $250,000 total profit $40,000 $50,000 $50,000 $15,000 $15,000 $15,000 $40,000 $15,000 $20,000 $15,000 ($10,000) $15,000 ($50,000) marginal total cost profit ($160,000) $15,000 ($175,000) $15,000 ($190,000) $15,000 ($205,000) $15,000 $20,000 $15,000 ($10,000) $15,000 ($50,000) average total cost $40,000 $35,000 $31,667 $29,286 $27,500 $26,111 $25,000 average total cost $40,000 $35,000 $31,667 $29,286 $27,500 $26,111 $25,000

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter24: Perfect Competition

Section: Chapter Questions

Problem 12E

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TP/ Q PRICE TR MR AR TC MC PROFIT 0 50 0 0 0 120 30 -120 1 50 50 50 50 150 25 -100 2 50 100 50 50 175 18 -75 3 50 150 50 50 193 25 -43 4 50 200 50 50 218 30 -18 5 50 250 50 50 248 34 2 6 50 300 50 50 282 40 18 7 50 350 50 50 322 50 28 8 50 400 50 50 372 55 28 9 50 450 50 50 427 58 23 10 50 500 50 50 485 15 1. What is the output level that maximizes the profit? 2. At this level, how much are the firm's profit? 3. Identify the level at which the firm should shut down?
Q Price TR AR MR TC MC Profit 0 30 0 0 0 70 -70 5 27 135 27 27 135 0 10 24 240 24 21 197 43 15 21 315 21 15 252 63 20 18 360 18 9 300 60 25 15 375 15 3 345 30 30 12 360 12 -3 383 -23 35 9 315 9 -9 428 -113 40 6 240 6 -15 478 -238 45 3 135 3 -21 533 -398 50 0 0 0 -27 593 -593 Provide a brief explanation of the firm's behavior to set production at 20 units at the price of P18 per unit.
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4. Anentrepreneurintends to sell his product for 6.4$ each. The daily cost or expenses can be expressed as x+9.1+.11x^2, wherexis the no. of product sold daily. Find the no. of products that will maximize the profit per day.
profit maximization price combinationA state owned company is providing electricity at the priceof $0.105and faces the demand for electricity P=1.255 - 0.001Q The company has acost function C(Q)=100.625 + 0.105Q The state sells the firm, now the firm’sonly goal is profit maximizationa What is the number of kilowatt hours of electricityproduced and what is the price that the company will charge?b Compute the price elasticity at the profit maximizingprice combinationc How much more profit will this firm make as a result ofprivatization
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Yowzah Bids Yowzah receives bids from four companies we'll call A, B, C, and D to supply product for the coming year. René Descartes, the Yowzah VP of Plotting takes the bids and creates this graph to bring to the next executive meeting. Bid Plot ($ vs Volume) 400000 350000 300000 250000 200000 150000 100000 50000 0 H O 1000 2000 3000 4000 - 0005 0009 A 7000 B 0008 0006 10000 11000 12000 13000 14000- 15000 16000 17000 18000 19000 20000 D 9 E Yowzah receives a frantic call from company C. Evidently the fixed cost they quoted was in rupees rather than dollars. If the current exchange rate is 60 rupees to the dollar, what is the net effect of an updated analysis? O Company C has the highest total cost throughout the range depicted in the graph. O Even beyond the range depicted in the graph, company C would be the bidder of choice. O Company C is the bidder of choice throughout the range depicted in the graph. Company C has the highest fixed cost of all four companies. 6-05 D 2
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What would you expect the relationship to be between selling a high-risk product and a low-risk product using personal selling Low risk and high-risk are equally as likely OLOW-risk is more likely to be sold using personal selling O High-risk is less likely to be sold using personal selling O High-risk is more likely to be sold using personal selling