310 185 170 95 80 65 $ A profit-maximizing firm will break even when market price is $ SMC If market price is $80, a profit-maximizing firm will produce ATC 0 1100 1600 1900 The figure above shows cost curves for a perfectly competitive firm. Suppose that market price is $310. A firm producing 1 700 units of output should produce AVC 9 units of output instead, to earn profits of $ units of output and earn profits of $

K The marginal revenue and marginal cost functions of a food importer are given by 6e0.05Q MR=400-0.5Q and MC = If the firm makes a profit of 3500 when Q=8, calculate the profit when Q=12. Give your answer to two decimal places. The firm makes a profit of CamScann

Suppose solar panel manufacturing is an industry subject to significant economies of scale, and there are currently three solar panel manufacturers all with identical costs. If the demand for solar panels is 5 times the quantity produced at the bottom of the long-run average cost curve, which of the following is most likely to happen to the solar panel manufacturing industry in the long run? O The number of solar panel manufacturers will increase O The price of solar panels will increase O The fixed costs of manufacturing solar panels will increase The quantity supplied of solar panels will decrease

Amos McCoy is currently raising corn on his 100-acre farm and earning an accounting profit of $100 per acre. However, if he raised soybeans, he could earned an accounting profit of $200 per acre. Is he currently earning an economic profit?

53 ces Suppose an industry consists of 150 firms with identical cost structures (represented by the "typical individual firm" in the figure below). The price is $18. Price/Cost $60 $50 $40 $30 $20 $10 0 10 20 30 MC Quantity 40 ATC AVC 50 60 Instructions: Enter your answers as a whole number. a. The firm output quantity at the equilibrium price is: b. The market output quantity at the equilibrium price is: units. units. Save & Exit Submit

Consider a perfectly competitive market for wheat in Toronto. There are 90 firms in the industry, each of which has the cost curves shown on the following graph:

The information below applies to a competitive firm that sells its output for $44.00 per unit. . When the firm produces and sells 100 units of output, its average total cost is $24.50. . When the firm produces and sells 101 units of output, its average total cost is $24.75. Suppose the firm is currently producing and selling 100 units of output. Should the firm increase its output to 101 units? Yes. This is because the marginal revenue exceeds the marginal cost. Yes. This is because the marginal revenue exceeds the average total cos No. This is because the marginal cost exceeds the marginal revenue. No. This is because the average total cost exceeds the marginal revenue.

Only typed solution

Imagine that you are a price-taking firm with the following total cost schedule. Q            1                  2                   3                   4                  5                  6                   7                  8                  9 TC         12              20                 24               28               34                42                52               64               78 Assume that if this firm produces zero they have a total cost of zero. (That is in italics because it's important..... Notice that this is a problem we have done before except for a little twist.  Can you notice what it is?)   Another way of saying that is that there is no fixed cost.  Fill in the following supply schedule. (Enter only integers.) (If you don't know what I'm talking about, pleeeeeease go back and figure out what supply means before you try to answer!) P               QS 4              ? 6              ? 8              ? 10            ? 12            ? 14            ?

All firms in a perfectly competitive industry have a cost function given by: 10Q^2+200Q+2250. What is the profit maximizing quantity of each firm if the current market price is $500? What does each firms profit equal? Give typing answer with explanation and conclusion