Total Fixed Costs + Total Variable Costs = W %3D Multiple Choice The Supply Curve. The Marginal Cost.

What is the profit maximizing quantity of output?  What price should the firm  charge for its output?    For that price and quantity does the firm make economic profit, economic loss or breaks even?  How do you know? Explain your answer.

A manufacturer of hospital supplies has a uniform annual demand for 180,000 boxes of bandages. It costs $20 to store one box of bandages for one year and $500 to set up the plant for production. How many times a year should the company produce boxes of bandages in order to minimize the total storage and setup costs? The company should produce boxes of bandages time(s) a year. you ge.. Next R. RAZER

13. Firms in Competitive Markets The market for fertilizer is perfectly competitive. Firms in the market are producing output but are currently making economic losses. Which of the following statements is true about the price of fertilizer? Check all that apply. The price of fertilizer must be less than average total cost. Price and Costs The price of fertilizer must be less than marginal cost. The price of fertilizer must be equal to average variable cost. The following graphs show the cost curves faced by a typical firm, the demand for fertilizer, and possible price and supply curves. MC Firm ATC LAVC II II Quantity (? P P₂ Demand 1 Market Quantity S₁ S₂ (?)

When you calculate marginal costs, they should include: SELECT THE CORRECT ANSWER  A.the market price of the product. B.only variable costs. C.both the variable and fixed costs. D.only fixed costs.

If a monopolistʹs marginal revenue is $18 a unit and its marginal cost is $17, then?

Resource demand Select one: a. Does not depend upon the productivity of the resource b. Is a direct demand c. None of the answers are correct d. Is a relationship between price of product and cost of resource  e. Is a derived demand

A bakery that produces 100 loaves of bread has a variable cost of $50 and a fixed cost of $200. Calculate the total cost, average total cost, average variable cost, and average fixed cost of the bakery. 50 units of an output is supplied when the price is OMR 10. When price increases to OMR 20, the units of output supplied will be 80. Calculate elasticity of supply and comment on its elasticity.

If an economy the marginal profit is $80 billion and the marginal cost is $35 billion find the marginal revenue!

Marginal cost= 2x+3 Average variable cost= x+3 Variable cost=x^2 + 3x x is the daily output. Product's price is 13 dollars. Part a) Calculate the level of output that will be produced.  Part b) Calculate the producer surplus of the firm.  Part c) The fixed costs are 5 dollars. In the short run, is the firm making a 0 economic profit, a positive profit, or a negative profit? Explain why.