True or False and explain the math In the market for widgets, there are 200 firms which each have a supply function of q@(p) = 2p - 8 and 100 firms which each have a supply function of qs(p) = p - 3. Therefore, the industry (aggregate) supply curve has a kink at P=$4 and Q=100.

consider a market with a large number of firms, an upward sloping supply curve S0, and a downward sloping demand curve D0.  We will start with the assumption that the market is perfectly competitive; hence, the supply curve S0 is the sum of the marginal cost curves of all the firms. Assume the market is perfectly competitive. Indicate the original competitive equilibrium price P0, equilibrium quantity Q0, the resulting Consumer Surplus CS0, the resulting Producer Surplus PS0, and the “socially optimal” output (the output the Benevolent Dictator would choose) QSO on your graph. Graphically indicate the size of Dead-Weight Loss DWL0 if there is such a loss.   Question - Now suppose that scientists discover that this particular product has a significant Positive Externality.  The Demand curve is a depiction of marginal private benefit (MPB). However, the existence of the positive externality means that for every given output level, Marginal Social Benefit (MSB) is higher than Marginal…

Determine the profit-maximizing LOADING... prices when a firm faces two markets where the inverse demand curves are                                                Market​ A: pA=100−2QA​, where demand is less​ elastic, and                                                Market​ B: pB=60−1QB​, where demand is more​ elastic, and Marginal Cost=m=20 for both markets. Part 2 For Market​ A: pA=​$enter your response here. ​ (Round your response to two decimal​ places.) Part 3 For Market​ B: pB=​$enter your response here. ​ (Round your response to two decimal​ places.)

Please diagram the revenue and profit situation (which would also include the cost curves) for a producer of a highly elastic (but not perfectly elastic) good of your choice (a restaurant, boutique clothing store, etc.). Under what circumstances would it make sense for them to raise their price? While profit maximization is the main goal for most firms (and one which you should be able to represent on a diagram), you may wish to consider alternative goals depending upon the business you have chosen. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Suppose you are given the following information about a particular industry: QD11200-100P QS = 1500P q² 200 C(q)=761 + 2q 200 Market demand Market supply Firm total cost function Firm marginal cost function. MC(q)= Assume that all firms are identical and that the market is characterized by perfect competition. Find the equilibrium price, the equilibrium quantity, the output supplied by the firm, and the profit of each firm. The equilibrium price is $. (Enter your response rounded to two decimal places.)

Suppose the government regulates the price of a good to be no lower than some minimum level. Moreover, suppose firms misinterpret the regulated price as a signal to produce more output. Using the graph to the right, compute this fictional industry's net gain or loss resulting from this policy. Price ($) As a whole, firms in this industry will experience a net of $ because of this policy. (Enter your response rour nearest whole number.) loss 4.50 3.50 gain Q ☑ S Ps = $5.50 D :100 140 180 Quantity

A market has many small firms and one dominant firm. The market demand is Q = 100-5P. The dominant firm has a constant marginal cost of $6. All the smaller fringe firms combined have a supply curve given by Qs = 4P-8. The dominant firm sets the market price, and the fringe firms act as price takers. The dominant firm allows the fringe firms to sell as (Enter your responses many units as they want at the price set by the dominant firm. The rest of the market is then supplied by the dominant firm. The profit-maximizing quantity produced by the dominant firm is units and the price it charges is $ as integers.) The fringe firms will produce and sell a total of units at the market price r your response as an integer.)

Feedback Imagine that the flat-screen TV market is made up of one large firm that leads the industry and sets its own price first, and another firm that follows the leader when deciding its own profit-maximizing strategy. The leader has a cost function of c₁ (91) = 5q1, and the follower has a cost function of CF (ar) = 4, where Q =q₁ + qr. Total market demand for flat-screen TVs is given by the function Q = 250.00-2p. Calculate the following values: Leading firm's production: q = Follower firm's production: qp = Equilibrium price: p= $49.37 9 OF 16 QUESTIONS COMPLETED 118.33 32.92 (Round to two decimals if necessary.) (Round to two decimals if necessary.) (Round to two decimals if necessary.) See Hint 4 VIEW SOLUTION SUBMIT ANSWER

Please get correct.

The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a firm are shown in the figure below. The market price is $26. Instructions: Use the tool provided (Pt. A) to identify the profit-maximizing output. Then use the tool "Profit" to draw the area of profit (or loss) that occurs at this level of output. Position this rectangle by dragging on the vertices. Price/Cost ($) 50 r Tools MC 40 Pt. A Profit ATC 30 AVC 20 10 10 20 30 40 50 Quantity Instructions: Round your answer to the nearest whole number. Use a negative sign if necessary. At the profit-maximizing level of output, average total cost is $ and profit is $