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- 10:43 A docs.google.com Your answer Syukri, Iqmal and Amir run the only shop in Wang Ulu. They sell electrical goods such as televisions, washing machines, etc. However, their objectives are different from each other. Syukri wants to make as much profit as he can, Iqmal wants to sell as many goods as he can without losing money, and Amir wants to earn as much revenue as he can. The graph below illustrates their respective profits. (Note: The length of each square on the Y-axis represents RM100, and the length of each square on the X-axis represents 100 units.) What is the quantity for Syukri? Revenue, Cost MC AC Quantity 100 200 300a. John operates a firm producing t shirts. There are many such firms producingidentical products to John. What market structure is this? Is it possible for John tomake a profit in the long run? Illustrate using an appropriate diagram. b. John decides to innovate his business and begins printing t shirts with customercreated content. Will John be able to make a profit in the short run and the longrun? Explain using relevant diagrams and comment on the implied market c. Provide a strategy for John to make greater than normal profits in the long run. Isthis likely to be the case in the market for this good?Two firms in Couruo t Competition. Marginal praduce cost for both =0 döffrenciated pnoducts Firms have the following inverse demand function Pi=1-4 p2=1-92- वे Cournd reacthon functiou and m dicaramcebedhy. and a Derive the represend them తంయిమ ు 6)Derive the and pofits. Carmot eaubbrum gautitien.Arker
- Suppose that a particular industry has a four-firm concentration ratio of 45 and a Herfindahi index of LS40. Most ikety, this industry would ochieve Mutipie Chaice both productive efficiency and allocative etficency wllocative efficency but not productive effcency nether productive efficiency nor allocative efficiency productive efficiency but not allocative efficiencyO See Hint The graph below shows the marginal cost curve for two firms, A and B. Assuming these two firms together completely dominate their market, draw the market supply curve. Use the straight-line tool, and set the endpoints of the line based on the endpoints of the two given lines. To refer to the graphing tutorial for this question type, please click here. Price and marginal cost 160 150 140 130 120 110 100 80 70 60 50 40 30 20 10 160 る ろ 8さ88るるる Quantity supplied (thousands)Please dont copy and paste the answers One of your former peers starts up a firm after graduating NYUAD. However, he didn’t take Markets so is unsure if he is behaving optimally. He’s asked you for help. His firm faces monopolistic competition, has diminishing returns to its inputs and uses a fixed input. He is producing at a quantity such that P=MC, and he makes a positive profit. a. Draw the Demand curve, MR, MC, and ATC reflecting this situation on a graph. Label the quantity, price and profit of the firm under his strategy. b. Is his strategy maximizing his profits? Explain how he would do so if not. Label the quantity, price and profit of the firm under the optimal strategy on your graph in part a. c. He asks you about what you predict might happen to his profits in the future. What do you expect will happen to profits in this industry as we go to long run and why? What is the key assumption of monopolistic competition that gives you your conclusion?
- What is Mars inc competitive advantageChapter 16 Homework PRICE (Thousands of dollars per fire engine) 220 Femi 200 180 160 140 120 100 80 60 40 20 0 0 True 1 False 2 4 56 7 QUANTITY (Fire engines) 3 8 Demand 9 10 increase production from 8 to 9 fire engines because the True or False: If alternatively Femi's HookNLadder were a competitive firm and $80,000 were the market price for an engine, decreasing its price from $80,000 to $40,000 would result in the same change in the production quantity and, thus, total revenue. Revenue Lost Revenue Gained dominates in this scenario.From the bank of terms match the letter that corresponds to the appropriate concept/description. Bank of terms Letter A Perfect Bayesian Nash equilibrium Bayesian Nash equilibrium Nash equilibrium Competition à la Cournot Competition à la Bertrand В C E Herfindahl index F Perfect competition G Consumer urplus Lerner index H I Principal-agent model Natural monopoly Strategic complements Conjectural variations approach Strategic substitutes J K L M N Concept/description Competition in quantities Price taking behavior Index of maket power Write letter Measure of welfare Solution for a static game with incomplete information Competition in prices Measure of intensity of competition Manager and business owner work relationship Best response functions that slope upwards Estimation of market power
- do 1 2 1 4 5 6 7 A 9 TC MC TVC AVC ATC PRICE 12 14 5 7 10 14 19 t 32 Complete the above table and indicate the profit maximizing quantity of good to produce for the perfectly competitive firm HASRAHAST Below, graph the Demand, MR, ATC, AVC, and MC curves form the data given above. Be sure to indicate the profit maximizing quantity. Is the quantity the same as indicated above? 36 32 28 Perfect Competition Homework Problem 21 /2 8 TR Quity MR PROFIT GETTING STARTED 10 Getting to Know the Professor Q SearchCreate a Graph For this assignment; you will produce a marginal cost anatys graph and answer some cuestons. Steps competition, monopolistic compettion, cligopoly, monopoly) 2. Draw a marginal analysis graph. Trso it the market for the prodict vou chosef (Label the axes the margral cost carve (Mc), the marginal reverue curve (MiR), and the profit-maximizing cuantity (apm) You do not need to use reai numbers 3 Answer the reflection questions in complete sentences: What is your proouct and its price? What type of mankel does your product costin? Why is the margnal cost curve the same basic snape no manter the product? At the profit-makimizing quantify is the price of your procues equal to hipher than or lower than marginal 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.Fill in the columns in the following table. What quantity should a profit-maximizing firm produce? Verify your answers with marginal reasoning. TFC TVC MC Price TR TC Profit $10 $0 $20 1 10 12 20 2 10 20 20 3 10 25 20 4 10 40 20 5 10 65 20 10 100 20 6
