Quantity Price ($) Total Revenue ($) Marginal Revenue ($) Total Cost ($) Marginal Cost ($) Average Cost($) 2 24 48 23 35 2.5 17.5 4 23 92 21 45 5 11.25 6 22 132 19 60 7.5 10 8 21 168 17 77 8.5 9.63 10 20 200 15 100 11.5 10 12 19 228 13 126 13 10.5 14 18 252 11 165 19.5 11.79 16 17 272 9 210 22.5 13.13 18 16 288 7 260 25 14.44 20 15 300 5 320 30 16   The table above is for a monopolistic competitive firm in the short run. What will the firm's profit equal in the long run?  Question 21 options:   $0   $91   $102   $228

39 Output Total Total (Q) Price Revenue Cost 1 $20.00 $2.50 i of 2 $15.00 $5.00 $10.00 $7.50 4 $5.00 $10.00 The table above shows demand and cost information for a firm that has market power and can set its price. If the firm can only charge one price to all its customers (it cannot price discriminate), it's profit maximizing Output (Q) is: Select one: a. 1 b. 3 C. 4 d. 2

Please help with the answers marked as incorrect with an x. If someone can help I will give a thumbs up! :)

Price Total cost Quantity (tickets per show) Big Top is the only circus in the nation. The table (dollars per ticket) (dollars per show) sets out the demand schedule for circus tickets and the cost schedule for producing the circus. Calculate Big Top's profit-maximizing price, output, and economic profit if it charges a single price for all tickets. You are constructing a table with total costs ,average total costs, and 20 1,000 1,600 2,200 2,800 3,400 4,000 4,600 5,200 5,800 а. 18 100 16 200 14 300 12 400 total revenue. 10 500 600 b. When Big Top maximizes profit, what is consumer surplus and producer surplus and is the circus efficient? Explain why or why not. You are constructing a table showing total revenue and marginal revenue. You are also constructing a graph to show consumer surplus and producer surplus the 700 4 800 At the market equilibrium, no children under 10 years old attend the circus. Big Top offers children under 10 a discount of 50 percent. How will this discount…

Happyland is one of five amusement parks on Sunshine Island. The following graph shows Happyland's kinked demand curve (D₁ - D₂) and the resulting marginal revenue curve (MR₁ - MR₂). The graph also shows two possible marginal cost curves (MC₁ and MC₂). PRICE (Dollars per ticket) 24 22 20 18 16 14 12 10 8 6 4 2 0 0 MR₁ + + 1 2 D₁ + 3 5 7 8 9 QUANTITY (Millions of tickets per year) MR₂ 4 6 10 MC₁ MC₂ D₂ 1 11 12 (?) Assume Happyland's marginal cost is represented by MC2. Happyland will set a price of per ticket. its price, other firms will not follow suit, but if one firm its price, According to the kinked demand curve model, if one firm other firms will do likewise to retain their market share. Therefore, if one of Happyland's competitors decreases its price to below the price you just found for Happyland, Happyland will The basic principle behind the kinked demand curve model explains why the D₁ portion of the kinked demand curve is relatively D₂ portion. If Happyland's marginal cost…

Table 17-4 Only two firms, ABC and MNO, sell a particular product. The following table shows the demand curve for their product. Each firm has the same constant marginal cost of $4 and zero fixed cost. Price (Dollars per unit) 14 13 12 11 11 10 9 8 7 7 6 5 5 A 4 3 2 2 1 0 Quantity Demanded Total Revenue (Dollars) 0 65 120 QUESTION 9 (Units) 0 5 10 15 20 20 25 30 35 40 45 50 55 60 65 70 165 200 200 225 240 245 240 225 200 165 120 65 0 Refer to Table 17-4. If ABC and MNO operate to jointly maximize profits and agree to share the profit equally, then how much profit will each of them earn? O a. $125.00 O b. $62.50 O c. $225.00 O d. $24.00

Questión 10 óf 18 Holiday Beach is a world-renowned beach operated by Holiday Town. The beach is remotely located and the only parking area for the beach is controlled by the town government. The graphs depict the marginal revenue (MR) and demand (D) for daily parking passes for tourists and residents. Tourists Residents Price per day Price per day $20 $207 18 18 16 14 14 12 12 D 10 - 10 8 8 6 6 MR 4 4 MR 2 1 2 3 4 6. 7 8 9. 10 1 2 3 4 7 8 9 10 Quantity of passes Quantity of passes Suppose Holiday Town issues registration plates to its residents to make it easy to determine which cars belong to residents and which cars belong to tourists. Assume the marginal cost of providing a daily parking pass is a constant $4 and Holiday Town wishes to price discriminate. What price will town residents be charged for a daily pass? $ %24

Which of the following is a way to deter entry? OA. increase costs through legislation that affects only new entrants OB. obtain a patent so that others must license your invention OC. raise switching costs for customers that use your products OD. All of the above.

Business Selling Price Total Sold Cost of Goods Sold Sales Profit First Aid Kits 28.95 25 400 723.75 323.75 Leg Casts 50 10 300 500 200 Rubbing Liniment 12 5 5 60 55 Resuscitators 70 2 130 140 10 Sun Burn Ointment 25 25 1000 625 -375 Question #1 Economists are always calculating the costs and the benefits of alternatives. Economic profit, as distinct from the accounting profit you calculated in question 1, is the additional profit that is earned by choosing the best, rather than the second best, profit opportunity. Profit maximizers should always calculate economic as well as accounting profit. What is the economic profit you would receive if you decided to purchase the business's best profit maker?

Table 2 shows Media Cable’s demand table, total revenue, and marginal revenue at each price. What is the price effect of reducing the price from $100 to $80?Table 2 Price Amount Demanded Total Revenue Marginal Revenue $160 0 $0 n/a $130 90 $11,700 $130.00 $100 200 $20,000 $75.45 $80 350 $28,000 $53.33 $40 600 $24,000 -$16.00 $0 850 $0 -$96.00 Question 5 options:   a)  $4,000   b)  -$20,000   c)  $28,000   d)  -$4,000   e)  $12,000