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- Answer please it's urgent 1) What are the characteristic that a firm faces in a perfectly competitive market? 2) What methods would they employ to maximize profits?4 The Competitive Equilibrium Model—Deriving Supply] Negar owns a trendy and sustainable shoe factory. The total cost of producing a given number of pairs of shoes is displayed in the table below. Assume Negar can only produce the integer quantities of pairs of shoes specified in the table. Number of pairs Total Cost 0 400 10 410 20 430 30 460 40 500 50 580 60 680 70 800 b. Draw the supply curve for Negar’s shoe factory. c. Suppose the wholesale market for shoes that sell to retail stores is competitive, with a market price of $10 per pair (i.e., $100 per 10 pairs). If Negar’s goal is to maximize profits, how many pairs will she choose to sell? d. What are Negar’s profits when she sells the number of pairs from (c) at the market price of $10? e. Calculate Negar’s producer surplus given the price and quantity from part (c). How does this compare to the profit calculated in part (d)?Price and cost (dollars per ride) The graph shows the market for the two zipline firms that operate in a resort city. If the firms decide to compete, then together they will produce rides at a price of per ride. 60 O A. 400: $30 MC O B. 400; $50 50 O C. between 200 and 400: between $30 and $50 40 O D. 200: $30 O E. 200; $50 30 20 'D 10 MR 100 200 300 400 500 Quantity (number of rides)
- Fa 3. What is the HHI in the search engine market if Google has 67% market share, Bing has 18% market share, Yahoo! has 11% market share, Ask has 3% market Spri share, and AOL has 1% market share? Fa 2. A strongly competitive market is characterized by a HHI of Spri Greater than 1,000 Less than 2,400 Less than 1,000 Zero Fa 1,877 4,489 9,998 4,944 5. Looking at the typical Kinked Demand Curve, why are most Oligopoly firms reluctant to increase the price of their product on their own? Spri increase would lead to a lower total revenue. They would be then exposed to an inelastic demand for their product and the pric They would be theri exposed to an elastic demand for their product and the price increase would lead to a increase total revenue. They would be then exposed to an elastic demand for their product and the price increase would lead to a lower total revenue. No Oligopoly is reluctant to increase priceList and explain the importance of each of the five characteristics of purely competitive markets.Click on the icon to read the news clip, then complete the following steps. The graph shows the market for grain. Draw a point to show the quantity produced when the price is $4 a bushel. Label it 1. e Suppose the price falls to $2 a bushel. Draw the new marginal revenue curve. Label it MR₁. Draw a point to show the quantity produced when the price is $2 a bushel. Label it 2. Draw a shape that represents either the economic profit or economic loss when the price is $2 a bushel. Label it. Get more help. F5 *** * A 6 F6 ** & 7 F7 PrtScn F8 O O Home F9 8- 7- 6- 5- 4. 3 2 0 1- 0 Price and cost (dollars per bushel) End 10 20 30 40 50 60 70 80 Quantity of grain (thousands of bushels per year) >>> Draw only the objects specified in the question. F10 Clear all PgUp F11 MC PgDn ATC F12 MR Check answer G +
- Please slove the attached qustionProfit is the incentive that drives our market economy. Firms make production, pricing, andhiring decisions based on their quest for profit. But what happens when a firm discoversthat it can make dramatically higher profits by stopping production altogether? In December2000, due to wild swings in the market for electricity, Kaiser Aluminium faced just such adecision.Kaiser Aluminium had contracted with Bonneville power for all of its electricity needs andfound itself in the unique position of being an electricity consumer and, potentially, anelectricity reseller. By December 2000, Kaiser faced a difficult decision of continuing itscurrent aluminium production and profit levels, or closing the plant to dramatically increaseits profit by simply reselling its electricity.When making production decisions, firms must consider both their costs and revenues. Oneimportant concern for many firms is utility costs. In 1996, Kaiser Aluminium Corporation inSpokane, Washington, entered into a…Which is an example of an almost perfectly competitive market? O the market in licensed physical therapy services O the antique furniture market O the market in pain medications the stock market the National Hockey League