If the wool industry is perfectly competitive, the market demand curve for wool is and an individual wool producer's demand curve is O horizontal; horizontal O downward sloping; horizontal O downward sloping; downward sloping O horizontal; downward sloping JAN etv
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- )A two Product finm faces the follow- = 40-2P1 demand and Cost function 8- a) Find the output levels that satiaty the 12 demand amd 40-2P,-P2 タ,=35-P、- 8 follow- ng Cont function8 32 Demand function. C%=8it 20+ 10 cost function. a) Find the output levels that sati. order Conditions ythe tor maximum profit. 6)check the 2nd (ondition. Can you conclude that this Problem Posses a Order for sufficient unique maximum) c)What in the maximal profit?1. DIHL Co. isa Danao-based logisiCs company owned by Engr. Donaid H. Lalican. Antcipating the growing demand for delivery services, he developed a strategic plan for the year 2022. The options are to hire additional delivery crews in their Mandaue facility, construct a new facity in Talisay City, or subcontract Ohiala Move, a smal-time company. A study conducted by the marketing department forecasted the following payoff values, which are summartzed in the tabie below. The values are expressed as gains and alpha = 0.6. What decision will Engr. Lalcan make using the different criteria under conditions of uncertainty. Question is what is the worst possible decision he will make? States of Nature Decision Alternatives Failure Low Moderate High Hire additional Drivers in Mandaue 450,000 250,000 250,000 500,000 Construct a facility in Talisay 800,000 400,000 300,000 700,000 Subcontracting Ohlala Move 100,000 10,000 150,000 300,0004. Elasticity and total revenue The following graph shows the daily demand curve for bippitybops in Denver. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. 120 110 100 Total Revenue 90 B0 70 50 40 30 20 10 Demand 10 20 30 40 50 70 90 100 110 120 QUANTITY (Bippitybops) PRICE (Dollars per bippitybop)
- AVC, ATC,MC 110 80 76 " 50 40 30 29 18 MC ATC 1234567H0 11 12 13 14 Output per period O a Loss of $90 O b. Profit of $180 O c. 50 Od. Profit of $6300 The Competitive Industry and Firm Refer to the figure above to answer this question for a representative firm in a perfectly competitive market. Suppose that the market price is $70. What is the firm's maximum profit (or minimum loss)?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 Ofor a certain product, if the number of units that gives maximum revenue is 300 units, the number of units that gives maximum profit is 250 units and each 1000 units comsumes 5000 dollers of raw materials and a sunk cost of 2000 dollers for the whole number produced. then the selling price equation is O a. p=30 05D O b. p=30 06D Oc. p=50 05D O d. p-42 07D O e. p=30_03D
- l alfa 8-19 am 1. Which of the following remains constant as output increases? * O a. TFC O b. TVC O c. TC d. All of the above Ruepue is $45What is the difforence between acounting proft and economic prof? OA Economic profit subtracts both expict and implicit oosts trom total revenue, while accourting proft only sutiracts explicit oosts. OR Accourting profe only nuttracta imglicit coeta from total revenue, whie ecoromic proft only suberacte explicit coste OG Economic proft oriy subtracts implict costs from total revenue, while accounting profit only subtracts enplicit costs OD. Accourting proft suberacts boh explict and impict costs from total ravanue, while economic proft only sutracts explicit oosts.TM N 99% O 5:23 TNT Edit 21 youay compeueery onog omemerconsev Devolopment of a highly competitive human resource, cuttingedge sclentific knowledge and innovative technologies for sustainable communities and environment. TP-IMD-02 Mission: vO0715 20 No.DOE 2014-05 For instructional purposes only - 1" Semester SY 2020-2021 59 AGSC12 Exercise No. 2 Price Elasticity of Demand Name: .-- Score : Class schedule:. Using the Price and Quantity demanded data, compute the needed values in each cell provided per column given the table below: Quantity Demanded (Qd) Total P1 +P2 Price Revenue 01 +02 Category AP (P) (TR) 2 2 100 3000 90 4000 80 5000 70 6000 60 7000 50 8000 40 9000 B. Complete the summary table below based on the results in Activity A If Price falls, The Elasticity Coefficient is If Price rises, If demand is Total Revenue will Total Revenue will EBlastic Inelastic Uhitary Page 59 of 97 Vision: A globally competitive university for science, technology, and environmentalconservation.…
- Principles of Microeconomics Name: Homework #3 Prof. R. Harris DUE: Wednesday, April 17, 2019 at the beginning of class - NO EXCEPTIONS. Please remember to show all work and please be neat. Please staple this if you print it on your own. 1. Consider the following table of numbers, which represents demand and cost conditions for a com firm. petitive TR 600 0 1 2 $o $400 600 $400 $240 600 $430 $670 $960 $1,350 $1,840 $2,440 $3,120 $3,910 $4,800 600 600 600 600 600 600 5 6 7 600 600 9 10 (a) Fill in the missing values (b) Use the information in the chart to determine what level of output the firm should produce. Explain your reasoning.5- A manufacturer of doors, windows, and cabinets writes her yearly profit (in thousands of dollars) for each category in 248 a vector as: P= 319 632 40 30 Her fixed costs of production can be described by the vector:C- 60 What would her incomebif increasing it threefold would cause her profit to be fice times as arger 513,02 421; 623 427 72 907: 03 542 513,02 007;23 542 542: 3 007 421: 23 513Price You are the manager of a firm that charges customers $16 per unit for the first unit purchased, and $12 per unit for each additional unit purchased in excess of one unit. The accompanying graph summarizes your relevant demand and costs. 0 18 16 + 12 10 20 14 8 6 4 2 0 1 2 3 4 Quantity MC-AC D 5 6 7 ernal browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-grow a. What is the economic term for your firm's pricing strategy? First degree price discrimination O Fourth degree price discrimination O Third degree price discrimination O Second degree price discrimination Seved b. Determine the profits you earn from this strategy.