a. Add the marginal revenue curve to the graph above (starting at zero). Plot only the end points. b. What are Sol-Motors profit-maximizing output and price? Output: 75 thousands Price: $ 70 thousands Suppose that the government of Lidia imposes a price ceiling of $35.000 per car. What is the firm's profit-maximizing output now? Profit-maximizing output: thousands d. What would be the output if the graph represented a perfectly competitive industry rather than a monopoly? Output: thousands

a. Add the marginal revenue curve to the graph above (starting at zero). Plot only the end points. b. What are Sol-Motors profit-maximizing output and price? Output: 75 thousands Price: $ 70 thousands Suppose that the government of Lidia imposes a price ceiling of $35.000 per car. What is the firm's profit-maximizing output now? Profit-maximizing output: thousands d. What would be the output if the graph represented a perfectly competitive industry rather than a monopoly? Output: thousands

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Sketch a graph of the theater's demand functions, marginal revenue, and marginal cost to find the following: 1. The firm's profit-maximizing price = $____? 2. Ticket output = ____? 3. Economic profit = $ ____? 4. Compute consumer surplus, producer surplus, and deadweight loss
Sub : EconomicsPls answer very fast.I ll upvote. Thank You
On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 6, 12, 15, 18, 24, and 30 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. Calculate the total revenue if the firm produces 6 versus 5 units. Then, calculate the marginal revenue of the sixth unit produced. The marginal revenue of the sixth unit produced is________. Calculate the total revenue if the firm produces 12 versus 11 units. Then, calculate the marginal revenue of the 12th unit produced. The marginal revenue of the 12th unit produced is_________.
MC we e-MR-D 01214 6 telof wh Piease refer to the above graph of a perfectly competitive firm's cost and revenue curves the price of thin product is $7, what is the proft maximizing level of output? unts the price of this product is $7, what is the frm's total revenue when it maximires proft? S It the price of this product is $7, what is the fiem's total cost when it maximizes profir?S It the price of this product is $7, what is the fims total variable cost when it maximizes proft?S What is the fiem's tatal fed oost? the price of this product is $7, what is the fm's proft or loss when t maximizes pro? of loss, write answer as a regative number wth minius sgn)5
At the marketplace $8 per bushel.....please answer
devrat
Assume a perfectly competitive market. Draw the average total cost, average variable cost,marginal cost, and marginal revenue curves for a good. Determine the profit-maximizing levelof output given that the price of the good is above the minimum average variable cost butbelow the minimum average total cost. Is the profit at the chosen price point positive,zero, 0r negative? Shade the area representing profit. Assume a monopoly market. Draw the average total cost, marginal cost, marginal revenue,and demand curves for a good. At what price will the monopolist sell? What is theprofit-maximizing level of output at this price? Shade the area representing profit.
Dollars A BC O Hi K O G O Multiple Choice I ELM N MC MR Quantity Refer to the diagram. At the profit-maximizing level of output, the firm will realize ATC Demand an economic profit of A-B-H-J. a loss of GH per unit. an economic profit of A-C-G-J. a loss of JH per unit.
Calculate marginal Revenue if it's given:- Change in total revenue = $350 Change in output = 20 units
Sub : EconomicsPls answer very faast.I ll upvote. Thank You
With the help of a diagram, explain the derivation of the Total Revenue curve.
6