Question 5 Suppose that the cost function of a firm is C(q)=4q. Suppose that this is the only firm in the market, and demand is Q(p)=10-p. What is the Consumer Surplus in a competitive equilibrium in this economy? 18 36 20 12 15

Q: Market demand is given as QD = 280 - 4P. Market supply is given as QS = - 40 + 2P. In a perfectly…

A: Given information: QD = 280 - 4P ---------> market demand equation QS = -40 + 2P --------->…

Q: Consider a market with free entry and exit where all firms are identical and have the following TVC…

A: Perfect competition is a theoretical market structure in which all firms sell an identical product.…

Q: Consider a market in which three firms compete as quantity setters (i.e. firms are engaged in…

A: Total revenue is the product of price and quantity. So , TR = P × Q  Marginal revenue is the revenue…

Q: A market consists of a dominant firm and a number of fringe firms. The followings are the…

A: If the market consists a dominant firm, the firm will behave like monopoly as it has large market…

Q: Consider a market with free entry and exit where all firms are identical and have the following TVC…

A: a) Here, the efficient quantity quantity would be Qe & the deadweight loss can be represented…

Q: producers charge the competitive and efficient level of prices, then price and output in the market…

A: In a competitive and efficient level of production point the competitive firm maximizes its profit…

Q: Use the information provided below for Questions 17, 18, and 19. There are 100 perfectly competitive…

A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you…

Q: The graph below shows a competitive firm's demand and cost curves.  Assume that the firm produces at…

A: Option A is correct.Explanation:In a perfect competitive market, the profit-maximizing condition is…

Q: 3. Suppose that for a product in a competitive market the demand function is p = 1200 – 2x and the…

A: Given  Demand function  p = 1200-2x            ....... (1)  and supply function  p = 200+2x…

Q: (Requires calculus). In the model of a dominant firm, assume that the fringe supply curve is given…

A: Without a Dominant FirmMarginal cost (MC) for the dominant firm:Fringe supply curve: Demand curve:

Q: A market consists of a dominant firm and a number of fringe firms. The followings are the…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: The following graph shows the demand curve for a good and the long run average cost curve for a…

A: The long-run normal expense curve shows the most minimal all-out cost to create a given degree of…

Q: Consider a market with two firms (Firm 1 and Firm 2), which produce an identical good. Both firms…

A: The Stackelberg model does recognize interdependency and takes their decision simultaneously.

Q: . MBI and Pear are the only two producers of computer. MBI started producing computers earlier than…

A: Two firms: MBI and PearCost of MBI: C1(y1) = y12 Cost of Pear: C2(y2) =  15y1 +y22 Total demand: y =…

Q: Suppose that there are two types of firms in a perfectly competitive market. Firms of type A have…

A: It is the market where there exists a large number of buyers and sellers having homogeneous…

Q: Consider the competitive market for copper. Assume that, regardless of how many firms are in the…

A: From the given information, we can create a table as follows:

Q: 3. Suppose there are two firms competing in a market. Both firms have the cost function c(x) =10x/2…

A: There are four types of market structure; perfect competition, monopoly, monopolistic competition…

Q: You are the manager of a firm that produces output in two plants. The demand for your firm's product…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: Consider a market with two firms and a demand function p = 1 - Q. Note the price and quantity cannot…

A: Given that; The demand function for the market is given by p=1-Q, where p is the price and Q is the…

Q: Given the following supply, demand and marginal revenue fi QS = 5P-25 Q = 100-5P MR = 20-2/5Q (a)…

A: Competitive equilibrium occurs when demand and supply forces are equal. Firms are price taker in…

Q: A market consists of a dominant firm and a number of fringe firms. The followings are the…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: Economists consider perfect competition as more efficient than other types of market structures,…

A: Firms in a perfectly competitive market in the long run end up earning zero or normal profits. This…

Q: A market consists of a dominant firm and a number of fringe firms. The followings are the…

A: If the market consists a dominant firm, the firm will behave like monopoly as it has large market…

Q: Q1) for a-firm how does the concept of producer surplus differ from that of profit.?

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: 8. a) Suppose a firm A produces a product q, but also pollution x that affects a second firm B. Firm…

A: Total revenue is the total value of the commodities produced and sold in equilibrium. Economic costs…

Q: 7) The market demand curve for a homogeneous product is given by p=70-Q where Q is the total…

A: In economics, the marginal cost is the change in the total cost that arises when the quantity…

Q: The market demand function of a perfectly competitive market is Q=500-p, and the cost function of an…

A: Given,  Q=500-p C(q)=q^3-20q^2+110q

Q: a quasi-fixed cost of $5000 (that is COST = 0 if they exit but COSTS = 5000 + variable costs if they…

A: Given, Supply curve,                             qs = 12p Quasi fixed cost = $5000 Demand curve,…

Q: Consider the market represented by the figure to the right. Suppose this market has one firm. If the…

A: Monopoly refers to the single firm in the market. Monopoly firm has market power to fix the price.…

Q: Question 1 Scenario 14-1 Assume a certain firm in a competitive market is producing Q = 1,000 units…

A: In a competitive market, it can be said that the market price will be the marginal revenue of a firm…

Q: market consists of a dominant firm and a number of fringe firms. The followings are the information…

A:

Q: For a given commodity and pure competition, the number of units produced and the price per unit are…

A: Market dynamics are economic events that establish a balance between supply and demand, resulting in…

Q: CENGAGE MINDTAP Assignment 8 (Ch 14) 1 + 0 0 1 2 3 4 5 6 7 8 9 10 QUANTITY (Millions of small boxes)…

A: As the equilibrium price is given to be $5, so we take $5 price for each unit.Total Revenue = Price…

Q: a. If only two firms exists in the market and they act competitively, find the equilibrium price and…

A: Elasticity is associate degree economic construct wont to live the amendment within the combination…

Q: marginal social cost

A: a.

Q: Suppose a perfectly competitive firm faces an inverse demand curve of P(Q)= 1515-1.4Q and has…

A: When the production or consumption of a thing or service imposes a cost on third parties who are not…

Q: Figure 14-4 In the following figure, graph (a) depicts the linear marginal cost (MC) of a firm in a…

A: A competitive market operates with several buyers and sellers. These sellers sell identical products…

Q: 3.14 Each of the 10 firms in a competitive market has a cost function of C = 25+q². The market…

A: A competitive firm is a price taker in the market. If a perfectly competitive firm increases its…

Q: 8. a) Suppose a firm A produces a product q, but also pollution x that affects a second firm B. Firm…

A: Cost function of firm A  CA(q,x) = q2 + (x - 4)2 PA = 12   Cost function of firm B CB(r,x) = r2 + xr…

Q: 3. Consider a market for an identical product with four firms. The inverse demand for this product…

A: