Refer to Figure 14-10. When a profit-maximizing firm is earning profits, what can identify those profits? (P-ATC) × Q PxQ (MC - AVC) × Q X (P-AVC) × Q

13. The marginal profit for the new X-99 pogo stick is P'(x) = -0.1x+ 60 where x is the number of sticks produced and sold. The profit is - $1000 when 50 sticks have been produce and sold. a) Find the profit function. b) What level of production of pogo sticks (x) produces a maximum profit?

Note:Hand written solution is not allowed.

Looking at the Table, Profit, Cost and Revenue Functions, Quant is the quantity of output, C(Q) is the Total Cost of production for corresponding quantities of output, R(Q) is the corresponding Total Revenue at each level of output Q, if all output is sold and PRF(Q) is the Total Profit for each corresponding output level. PRF(Q) is calculated as R(Q)-C(Q). Using this information, does the company make its highest profit where R(Q) is highest? a. No, because the highest possible revenue may be at an output level where the cost of output may exceed the revenue generated at that output level. In this problem, the highest profit is at output level 15 Ob. Yes, because there is no way that cost can exceed revenue when revenue is maximized. Cc. No, because the highest possible revenue may be at an output level where the cost of output may exceed the revenue generated at that output level. In this problem, the highest profit is at output level 10 or 12 or in between. Od. Yes, because the…

please only solve part g!

lawn-mowing services. Table Q2(a) sets out Lisa's costs and revenue at the market price of RM30 a lawn: Quantity (lawn per hour) Table Q2(a): Costs and Revenues of Lisa’s Lawn Company Marginal Revenue Total Total Cost (RM) Marginal Cost Revenue (RM) (RM) (RM) 30 1 30 30 40 10 60 90 30 30 55 15 3 75 20 4 120 30 100 25 5 150 30 130 30 6. 180 30 165 35 (i) Identify the quantity of lawn per hour that maximised the profit earned by the firm. (ii) Calculate the amount of Lisa's maximum profit in the short run. (iii) In the long run a firm in perfect competition makes normal profit which is equal to zero. Explain graphically how free entry and exit brings the economic profit back to normal profit.

Why do Urban populations are capital accumulating whereas rural populations are capital consuming?

Question 12 of 20 $20 MC $18 $16 $14 ATC $12 AVC $10 $8 $6 $4 $2 $0 20 40 60 80 100 Output (Q) In the diagram above, when the firm's Output (Q) is 60, Average Total Cost (ATC) is: $14.00 $18.00 $11.00 O $12.50

Vinnie’s Painting Company specializes in painting houses. Their cost schedule is as follows:Output     TFC         TVC        TC      AFC      AVC    ATC     MC 0.                                             10001.                               1002.                                                                                             1003.                               4004.                                                                                4505.                               16006.                               32007                                6400 A) Given the partial data available, finish the table and calculate all the costs. B)What is the minimum efficient scale of Vinnie’s company?C)What is the marginal cost of 6 houses?D)If Vinnie charges $825 per house, how many houses he should paint to                 maximize profit

Required information Px| 0 ABC MC ATC AVC D K Q Refer to the above graph. To maximize profits, the firm should produce the quantity: