Question When a perfectly competitive firm is at the profit maximizing output level what will be the relationship between firm's price and firm's marginal cost.
Q: Perfectly competitive firm that makes economic loses in the short run must cease its operations. do…
A: Perfectly competitive firm is a price taker because there are many sellers in the market selling…
Q: Can a perfectly competitive firm set its own market price?
A: Perfect or pure competition is a form of market in which a large number of perfectly informed buyers…
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A: The perfectly competitive firm are price takers who accept the industry price. No single firm has…
Q: rm
A: The short run supply curve In a perfectly competitive market is the curve of marginal cost being at…
Q: Why is the marginal revenue of a perfectly competitive firm equal to the market price?
A: Perfectly competitive market: - it is a market condition where there are many buyers and many…
Q: In the short run, if a competitive firm is making profit, the firm should produce. But if a…
A: A firm incurs losses if the total costs exceed the total revenue. The excess of the total cost over…
Q: A perfectly competitive firm does not increase its quantity of output without limit, even though it…
A: Answer: Introduction: A perfectly competitive firm is a price taker. In perfect competition, firms…
Q: In the short run if a perfectly competitive firm finds itself operating at a loss, it will
A: To find : For a perfect competitive firm in short run if it find itself operating loss what will…
Q: What is the short-run Shutdown condition for a perfectly competitive firm? P>AVCminimum…
A: In a market, a shutdown point refers to the point at which a firm is unable to recover its operating…
Q: Would the all perfectly competitive market 's marginal cost curve equal to supply curve
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Q: A perfectly competitive firm that is maximizing profits will experience which of the following price…
A: Perfect competitive market has large number of buyers and sellers, has free entry and exit of firms…
Q: What is the short run supply curve of a perfect competitive firm. Expalin using illustrations
A:
Q: Show and explain how the short run supply curve of the perfectly competitive firm is derived.
A: in a perfectly competitive market there are large number of firms producing similar and identical…
Q: A perfectly competitive firm will maximize its profit when marginal revenue is greater than marginal…
A: Marginal Revenue is the cash a firm makes for each extra deal. As such, it decides how much a firm…
Q: Is it true that a firm in a perfectly competitive market will never be able to earn positive…
A: There are different types of market which are broadly grouped as: Perfect competition and Imperfect…
Q: Derive the economic profit and loss of a firm in a perfectly competitive market from the…
A: Perfect competition is the market structure where large numbers of firms and buyers are exchanging…
Q: Aji Fatou owns a rental space in New York and is thinking of opening a restaurant in that space. The…
A: Accounting profit refers to the net income for a corporation or sales less costs. You may calculate…
Q: Explain why a competitive firm’s marginal cost curve is the same as its supply curve.
A: In perfectly competitive market there are many sellers as well as buyers. Price is given that means…
Q: why does a purely competitive firm not charge a price below the market price?
A: A purely competitive firm is in the market with the following assumptions: 1. Identetical products…
Q: Why is a firm in a perfectly competitive market called a price taker? How does a firm in perfect…
A: Price taker: It means a person or company accepting the prevailing prices in the market and unable…
Q: Why is the marginal revenue of a perfectly competitive firm equal the market price?
A: Marginal revenue: it refers to the additional revenue received from the sale of an additional good.…
Q: Comment on the Demand curve of a firm operating in perfectly competitive market
A: Perfectly competitive market has many buyers and sellers and the good being sold is 100% homogenous…
Q: List the characteristics needed for a perfectly competitive market. Provide a simple explanation of…
A: A perfectly competitive market is the market in which there are lots of buyers and sellers, buying…
Q: he graph attached illustrates the Demand, Marginal Revenue, Marginal Costs, Average Total Costs and…
A: A perfectly competitive earns zero economic profit in the long run .Break even price is that price…
Q: 30) Which one of the following is true for a perfectly competitive industry? a) there are many big…
A: The market is the collection of buyers and sellers in which they exchange goods and services in…
Q: Suppose a perfectly competitive firm’s demand curve is below its average total cost curve. Explain…
A: In a perfectly competitive market there are large number of firms producing similar and identical…
Q: A perfectly competitive firm will be interested in producing a positive output only when the price…
A: A perfectly competitive firm is the one that operates the business in the perfectly competitive…
Q: Perfectly competitive firms will react to profits in the long run by _______ production.
A: The market is a location where the transaction of services and commodities takes place.
Q: What is the most important decision a perfectly competitive firm must make to maximize profit? what…
A: In a perfectly competitive market, there are many buyers and sellers. The good produced is…
Q: Explain why P=MC in the short run equilibrium of the perfectly competitive firm, whereas in long run…
A: Economic efficiency includes the allocative (P = MC) and productive (MC = AC) efficiencies. Both…
Q: the profit maximization condition for a perfectly competitive firm in the short-run- is
A: Perfect competition is the market form that involves a large number of buyers and sellers in the…
Q: condition for profit maximization for a pure
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Q: What is the meaning of ''acceptable loss'' for a perfectly competitive firm? Draw a graph and…
A: Acceptable loss means the loss which has to be accepted.This happens generally in perfectly…
Q: The market for corn is perfectly competitive and all firms are in long-run equilibrium currently.…
A: If corn is an inferior good, then with rise in income of consumers, they will demand less amount of…
Q: Why is the marginal revenue curve for a perfectly competitive firm the same as its demand curve?
A: Perfect or pure competition is a form of market in which a large number of perfectly informed buyers…
Q: Graph the following for a perfectly competitive firm: A graph for short run economic loss for the…
A: In perfect competitive market, there are number of buyers and sellers, selling similar products.…
Q: in a perfectly competitive industry, in the long run, firms earn a positive economic profit firms…
A: In financial matters, explicitly broad balance hypothesis, an ideal market, otherwise called an…
Q: Draw the cost curves for a typical firm. Explain how a competitive firm chooses the level of output…
A: A competitive firm faces a parallel price line because in a competitive market, the firm is a price…
Q: Label the curves in the following graph A. At each market price p1, p2, p3 at what output level…
A: (a) To identify: The labeling of curves in the given diagram and the output levels corresponding to…
Q: perfectly competitive firm incurs an economic loss, it should: a
A: ANSWER a perfectly competitive firm incurs an economic loss, it should is
Q: Does a competitive firm’s price equal its marginal cost in the short run?
A: A competitive firm is one that produces and sells output in the market with many sellers who offers…
Q: What are the characteristics needed for a perfectly competitive market?
A: In a perfect competitive market, there is a number of buyers and sellers, selling similar products.…
Q: At the profit-maximizing output level, what will be the relationship between the perfectly…
A: A profit-maximizing output level is when that gives highest returns to the firm as any change in…
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- 2AAWO AC I4 17.1 REVENUE, COST, AND PROFIT APPLICATIONSITSO RSYHAHD 797 20 A firm sells each unit of a product for $50. The total cost of producing x (thousand) units is described by the function C(x) = 10 – 2.5x² + x³ where C(x) is measured in thousands of dollars. (a) Use the marginal approach to determine the profit-maximizing level of output. (6) What is total revenue at this level of output? Total cost? Total profit? 1 The profit function for a firm is -000The Calhoun Textile Mill is in the process of deciding on a production schedule. It wishesto know how to weave the various fabrics it will produce during the coming quarter. Thesales department has confirmed orders for each of the 15 fabrics produced by Calhoun.These demands are given in the following table. Also given in this table is the variablecost for each fabric. The mill operates continuously during the quarter: 13 weeks, 7 daysa week, and 24 hours a day.There are two types of looms: dobbie and regular. Dobbie looms can be used to makeall fabrics and are the only looms that can weave certain fabrics, such as plaids. The rateof production for each fabric on each type of loom is also given in the table. Note that ifthe production rate is zero, the fabric cannot be woven on that type of loom. Also, if afabric can be woven on each type of loom, then the production rates are equal. Calhounhas 90 regular looms and 15 dobbie looms. For this problem, assume the time requirementto change…. A major cattle feeding operation has entered into a firm commitment to buy 100,000bushels of corn to be delivered to its feed lot in Kansas. The corn is expected to be delivered in90 days. The company is committed to pay $1.50 per bushel. If corn yields are greater thanexpected, the price of corn could decline and the company would experience higher operatingcosts than necessary as a result of the commitment.In order to protect itself against falling corn prices, the company purchased an option to sellcorn in 90 days at a strike price of $1.51 per bushel delivered to a facility in Nebraska.1. Assume that at the time of acquiring the put option, the price of corn was more than $1.51.Explain why the option had a value of more than zero at inception.2. Assume that one of your colleagues made the following comment: ‘‘An option can neverhave a negative value; therefore, you can never lose money on an option.’’ Discuss whetheror not you agree with your colleague.3. Assuming that only the…
- You are currently in a job as a chef in a restaurant earning $100,000 per year. You are considering opening up a restaurant in a building which you currently own. You estimate that, if you wanted to, you could rent out your building for $25,000 per year to another restaurant. Last year, your revenues and expenses from the restaurant were the following: Revenues $400,000Cost of Food $120,000Salaries/Wages $100,000Utilities $25,000Taxes $20,000 What is your accounting profit? Show your calculations What is your economic profit? Show your calculations Assuming that you are indifferent between being a chef or owning a restaurant, should you open up your restaurant? Explain why. Now suppose that instead of owning the building where your restaurant will be located, you had to pay rent of $25,000 per year for the building. Will your answers to parts 1-3 change? Show your calculations. Explain how and why your answers will change or…Not s127930@student.squ.edu.om? Switch account * Required Multiple Choice Questions The primary difference between constructive feedback and destructive feedback is: * 1 poi Constructive feedback is focused on the people involved Destructive feedback is focused on the process and outcomes of communication O Constructive feedback can hurt people's feelings ODestructive feedback delivers criticism with no guidance for improvementComplete the following table. Missing values are denoted by a number inside parentheses (X). Place your answers in the corresponding numbered fields below the table. Quantity FC VC TC AFC AVC ATC MC 0 144 0 (1) 1 2 3 4 --- --- (2) (3) 179 (4) (5) (6) (8) (9) (10) (11) 30 (14) (15) (16) (17) (18) (19) 15 (20) (21) (22) (23) (24) 60 (25) (7) m (12) (13)
- Output TFC TVC TC MC ATC A 25 25 ---- -- ------- 1 25 25 50 25 50 C 2 25 40 65 32.5 3 25 70 95 E 4 25 110 33.75 F 5 25 160 50 What is the marginal cost of the 2nd unit of output? Cannot be determined. 15 25 30 O O O OWhat is die difference between accounting and economic profit?Pls answer all three to get upvote -)
- Upon graduating with an accounting degree, you open your own accounting firm of which you and your assistant are the only employees. To start the firm you passed on a job offer with a large accounting firm that offered you a salary of $50,000 annually. Last year you earned a total revenue of $120,000. Rent and supplies last year were $50,000. Your assistant's salary is $30,000 annually. annual operating profit? A) -$10,000. B) $40,000. C) $70,000. D) $80,000.Sub : EconomicsPls answer very fast.I ll upvote correct answer. Thank You Frustrated with DTCs monopoly, several diamond mining interests and large retailers collectively set up a joint venture called Adamantia to act as a com- petitor to DTC in the wholesale market for diamonds. The wholesale price is now given by P =120−QD −QA, where QA is the quantity that Adamantia chooses to sell. Assume that Adaman- tia also has a cost of 30 (hundred dollars) per high-quality diamond. Answer the following questions and show your work. (A) Write DTC’s profit, ΠD, in terms of QD and QA in this duopoly situation. Find the DTC’s best response function. (B) Write Adamantia’s profit, ΠA, in terms of QD and QA. Find the Adamantia’s best response function. (C) What quantity does each wholesaler supply to the market in Nash equilibrium? (D) What wholesale price do these quantities imply? What will the Nash equilib- rium profit of each supplier be in this duopoly situation?Question 3 to the cost of producing the (x + 1)st item? a Can you think of a cost function, so that the marginal cost at any r is exactly equal If yes, describe as many such functions as possible. If not, show why such a function cannot exist. Type here to search 7:00 PM ENG 4/27/2021 Esc Lock F1 F2 F6 F3 F4 F5 F7 Home End Delete F8 F9 F10 F11 F12 Insert %23 $4 & * 7. 4 5 6 Backspace 80 W E R T Y U S D F G H J K L B N M Alt Alt PrtSc Ctrl PgUp