If average total cost is $50 and average fixed cost is $15 when output is 20 units, then the firm's total variable cost at that level of output is The equilibrium price is likely to increase and profits are likely to increase The equilibrium price is likely to remain unchanged and profits are likely to increase The equilibrium price is likely to decrease and profits are likely to decrease The equilibrium price is likely to increase and profits are likely to remain unchanged

Q: 3.00 2.75 2.50 2.25 2.00 1.75 81.50 1.25 1.00 0.75 0.50 0.2 0 seject Select Select 100 200 300 400…

A: Profit maximization refers to the strategic endeavor undertaken by a company to optimize its…

Q: Suppose that each firm in a competitive industry has the following costs: TC = 50+ q? Total Cost:…

A: Hi, thank you for the question. As per our Honor Code, we can attempt only the first three subparts…

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A: ANSWER MARKETING EQUILIRIUM IS THE ACTUAL PRICE IN WHICH WORLD IS BALANCING ACT BETWEEN  SUPPLY AND…

Q: Assume that the market price for bagel services is 42 and store produces 30 units of the bagel.…

A: (i) TR = P x q = 42 x 30 = 1260 SRTC = 50 + 2 x 30 + 30 x 30 = 50 + 60 + 900 = 1010 Profit = TR -…

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A: Meaning of Perfect Competition: The term perfect competition refers to the market under which…

Q: Use the figure below to answer this question. Price (dollars per unit) MC 17 976 10 ATC 0 1000 1200…

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A: Market equilibrium occurs at the intersection of market demand and the market supply curve.

Q: Which of the following statements regarding the long-term equilibrium is TRUE?   Question 18…

A: A firm is in long run when the firm can change all inputs and there is no fixed cost.

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A: Price elasticity of supply = 0 QS = 500 QD1  = 700-P1 /100 If demand increases: QD2  = 1400-P2 /100

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Q: 4) Why will a firm never plan to supply an output at which it has increasing returns to scale?

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A: Market Demand functionD(p) = 1200 - 200pCost function of each individual firmFC = Fixed Cost

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Q: $ ATC MC AVC $85 $70 $60 $50 $40 $30 Suppose the market for wheat is competitive and its supply side…

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Q: 1. A firm in a perfectly competitive industry has fixed costs of FC = 15, marginal costs of MC = 5+…

A: Perfect competitive industry FC = 15 MC = 5+14q AVC = 5+7q

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A: