A firm has $1.5 million in sales, a Lerner index of 0.57, and a marginal cost of $50, and competes against 800 other firms in its relevant market. a. What price does this firm charge its customers?

Using the table for a firm (NOTE: You should use the rule of profit maximization), Price (S) Q (Demand) TR 26 1 22 2 18 3 14 10 6 4 5 6 TC 26 34 44 56 70 86 MR ΝΑ MC ΝΑ 15. Complete the table. 16. Using the table, draw the demand curve, MR curve, and MC curve in one diagram. 17. Determine the output and price of the profit-maximizing firm. (NOTE: you should explicitly use MR, MC for profit-max condition.) 18. Why can the firm not charge higher than the price you choose in #17? 19. Determine the profit of the proft-maximizing firm. 20. Determine the profit of the proft-maximizing firm in the long run.

A firm has $2,100,000 in sales, a Lerner index of 0.57, and a marginal cost of $40, and competes against 1000 other firms in its relevant market.Instruction: Enter your responses rounded to two decimal places.a. What price does this firm charge its customers?  $   b. By what factor does this firm mark up its price over marginal cost?  $

Oscar is one of many farmers growing soybeans in the upper Midwest under purely competitive market conditions. The demand curve for Oscar's soybeans O lies above his marginal revenue curve. O is downward sloping O is perfectly inelastic O coincides with Oscar's marginal revenue curve. 21 P Gtv MacBook Pro F8 F9 吕0 S0 F3 F6 F7 F4 F5 * %23

Herriott's is the only veterinary clinic in a remote village. The firm's total fixed cost is $200 a day and marginal cost is zero. The table gives the demand schedule for visits. Price (dollars per visit) 100 80 60 40 20 0 Quantity (visits per day) 0 8 16 24 32 40 Draw the firm's demand curve. Label it D. Draw the firm's marginal revenue curve. Label it MR. Draw the firm's marginal cost curve. Label it MC. Draw a point at the profit-maximizing price and output. Elixir's economic profit is $ a day. >>> If the firm incurs an economic loss, indicate the loss with a minus sign. If the firm makes an economic profit, do not include a plus sign. 120- 100- 80- 60- 40- 20- Price and cost (dollars per visit) 0 16 32 24 Quantity (visits per day) >>> Draw only the objects specified in the question 8 40 48 Q Q