A profit-maximizing firm in a competitive market is currently producing 500 units of output. It has average revenue of $10, average total cost of $8, and fixed costs of $200. a. What is its profit? b. What is its marginal cost? c. What is its average variable cost? d. Is the efficient scale of the firm more than, less than, or exactly 100 units?
Q: Air pollution in the country of Gawanza has grown over the last ten years with an increase in…
A: The objective of the question is to understand the economic implications of the government's plan to…
Q: In an economy, if structural unemployment decreases while theother types of unemployment remain…
A: The objective of the question is to understand the impact of a decrease in structural unemployment…
Q: Given the Budget of $1000 P of X = 10 10 Q of X 0 10 TU of X (10s) 0 100 180 (Average) MU of X 0 10…
A:
Q: Ben gets utility from apples and bananas and his preferences can be represented by the utility…
A: Option a) A∗(pA,pB,I)=0: This option is incorrect because it implies that regardless of the cost…
Q: Suppose that the price of a barrel of oil is $80 and interest rates remain at 8%. If a new…
A: To estimate the profit from outfitting one of the wells with new technology, we'll follow these…
Q: 12. Study Questions and Problems #12 Consider the first three columns of the following table, which…
A: The objective of the question is to calculate the total after-tax income for each family income…
Q: Based on article "Technology and economic growth: From Robert Solow to Paul Romer" by Rui Zhao,…
A: Conventional economic models frequently viewed technology as a "black box," presuming it to be…
Q: A machine that cost $120,000 3 years ago can be sold now for $52,750. Its market value is expected…
A: First, let's calculate the annual worth (AW) of the existing machine at each time point:Now:Market…
Q: The model initial setup is• The number of vacancies posted in the economy during a particular month…
A: d) A's value:Based on the available data, it is not possible to determine the value of A. In the…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: A monopoly practicing perfect price discrimination will extract all of the consumer surplus by…
Q: Problem #3: Labor Unions (20 points) Sarah is thinking if she should join the labor union in their…
A: Detailed explanation:Question 1: Work and Utility Calculation Sarah has to decide how many hours to…
Q: 800 p'(x) = = find price-supply (4x+50)²' equation if didtributor is willing to supply 300 boxes…
A: To find the price-supply equation, we need to use the given information to solve for the equation in…
Q: Consider the following computer output of a multiple regression analysis relating annual salary to…
A: To determine the answer, we first need to write down the multiple regression using the provided…
Q: you pay $10 in fixed costs for equipments and $ 9 per day to each of your artist who make the…
A: FEEL FREE TO ASK FOR CLARIFICATIONS
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: Detailed explanation:Understanding the Graph The graph you've provided shows several important…
Q: The following table was generated from the sample data of 10 junior high students regarding the…
A: Step 1: In this case, the dependent variable is the final grade (y).The independent variables are…
Q: Which of the following probably occurred as the U.S. economy experienced declining real GDP in 1948?…
A: Considering that the real GDP of the US economy decreased in 1948, the following possibilities are…
Q: In the market for new bicycles, suppose the price of tires decreases, work through the following for…
A: When examining the case where a drop in tire prices results in a rise in bicycle demand, it's…
Q: Ellen is currently deciding how to invest $100,000. One option would be to invest in Golden Oaks…
A: To find the expected value of perfect information (EVPI), we first need to calculate the expected…
Q: Use the graph below the answer questions 38 - 43: PRICE (Dollars per ton) 460 Domestic Demand…
A: Consumer surplus is represented by the area between the demand curve and the world price. Consider…
Q: A statistical model in which the dependent variable is linearly related to one or more independent…
A: The statistical model you are describing, where the dependent variable is linearly related to one or…
Q: Image uploaded answer is not allowed please dear expert
A: To find the Cournot equilibrium quantities, we need to determine the quantities produced by each…
Q: i need total answers
A: Given:μ = mean = 101 km/hσ = standard deviation = 6 km/h (a) Speed limit = 90 km/hThe probability…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: We will use the following two formula for calculating Labor force and Unemployment rate:Labor Force…
Q: 5. Capital investment in less-developed countries The following graph shows the production…
A: 2013 Given:Gandhar: 60 million consumer goodsDwarika: 40 million consumer goodsIf both countries are…
Q: please help me with 1 and 2. Thank you
A: Question 1:a) The Heckscher-Ohlin model suggests that nations ought to export the services of the…
Q: please answer correctly fast:
A: Explaination:
Q: 6. Study Questions and Problems #6 Complete the following sentences to explain why it is so…
A: Step 1: Answer: It is difficult for poor LDCs to generate investment in capital in order to increase…
Q: If the monopolist is unregulated, what will be the profit? a. $30 b. $10 c. $15 d. $20
A:
Q: Based on these motives, what variables did he think determined the demand for money? (Check all…
A: The variables that determine the demand for money, according to the motives for holding money,…
Q: A successful alumnus gives CBU $5,000,000 to establish an endowed scholarship fund. If CBU can…
A: Step 1: Given Value for Calculation Present Value of Payment = pv = $5,000,000Interest Rate = r =…
Q: In external analysis, what are the economic and technological development of San Miguel Corporation…
A: Approach to solving the question: Step 1: Identification of Key Aspects To address the economic and…
Q: Starting from year 2023 and assuming that both the annual growth rates of RGDP and population will…
A: In 2005, India's RGDP growth rate was about 8% per year, while China's was about 9% per year.…
Q: Consider the economy represented by the aggregate supply-aggregate demand graph below, which is…
A: The correct answer is that economic growth will decrease as a result of the tax increase. To see the…
Q: The initial cost of a pickup truck is $12,748 and will have a salvage value of $4,360 after five…
A: The objective of the question is to calculate the annual equivalent cost (AEC) for the truck…
Q: Question 2: For this problem you will analyze the elasticity of substitution and the isoquant graphs…
A:
Q: During 2019, a country reported that its real GDP increased by $3.0 billion. The multiplier for this…
A: The objective of the question is to identify the factor that could have caused the increase in real…
Q: PROBLEM (3) (Regret Aversion, Gale's Roulette Wheels) Consider the regret utility u(x, y) = {1 if…
A: a) In order to determine the expected regret utilities, U(A/B), U(B/C), and U(C/A), we must first…
Q: i wil 5 upvotes. do fast no use chagpt answer.
A: A competitive price taker bases their hiring decision according to the optimality condition: W =…
Q: Which of the following is a method of data analysis used by economists? Publishing articles using…
A: FEEL FREE TO ASK FOR CLARIFICATIONS
Q: Suppose we are considering a HO model setting, where countries have not yet opened up to trade. Two…
A: Task (i): Sketch a World Relative Price (CPC Line) for sketching a world relative price line, or a…
Q: Enter your answer as a whole number. If you are entering a negative number include a minus sign.…
A: In a market for athletic apparel, firms strive to maximize their profits by producing an optimal…
Q: Consider the following computer output of a multiple regression analysis relating annual salary to…
A: Step 1: Define what each x Coefficient for a multiple regression model representsThe Coefficient for…
Q: All else being constant, if estimated future cash flows increase, the internal rate of return will…
A: If estimated future cash flows increase while all else remains constant, the internal rate of return…
Q: QUESTION 3 ABC Manufacturing Company Limited recently hired you to estimate the firm’s production…
A: ABC Manufacturing Production Function AnalysisWe're given the production function F(K, L) = KL^2 and…
Q: K Suppose that the government of Ansonia is experiencing a large budget surplus with fixed…
A: The objective of the question is to calculate the equilibrium level of GDP (Y), Consumption (C), and…
Q: 5. Study Questions and Problems #5 Do you agree with the argument that the rich nations are getting…
A: Foreign investment and loans can indeed play a crucial role in helping poor countries develop their…
Q: What is the opportunity cost of one cake if we move from combination A to combination B?
A: When choosing a choice, the opportunity cost is the value of the next best option that has to be…
Q: The following table shows the total sales, in thousands, since a new game was brought to market.…
A: I'm sure I can assist you in this. This data graph illustrates the overall sales of the game since…
Q: Image uploaded answer is not allowed please dear expert
A: To calculate the inflation rate for 2022 as measured by the consumer price index (CPI), we can use…
Step by step
Solved in 2 steps
- Don't use chatgpt or any AI A profit-maximising firm in a competitive market is currently producing 1,000 units of output. It has average revenue of $50, average total cost of $40 and fixed cost of $10,000. a) What is its profit? b) What is its marginal cost? c) What is its average variable cost? Is the efficient scale of the firm more than, less than or exactly 1,000 units?Price MC ATC IC MR Quantity a. What area(s) of the graph represent(s) total revenue for this firm if it was profit maximizing? b. What area(s) of the graph represent(s) total cost for this firm if it was profit maximizing? c. What area(s) of the graph represent(s) profits for this firm if it was profit maximizing? d. What area(s) of the graph represent(s) deadweight loss if the firm was profit maximizing?i. Calculate the marginal cost, marginal revenue and profit for each unitof production. ii. How many units should the firm produce to maximise profit?
- Please solve Fast i give 2 like Which of the following is not true according to Figure 1? Hide Transcribed Text Figure 1: Cost and Price AC : Average Cost, AVC: Average Variable Cost, and MC: Marginal Cost A) The firm earn a zero economic profit when it produces 40 unit at the price of $5.7 per unit. B) The minimum acceptable price (the shut-down point) is $4.3 per unit. C) The firm's supply curve is its MC curve above minimum of AVC. D) The firm earns an economic profit when the price exceeds $4.3 per unit.The WipeOut Ski Company manufactures skis for beginners. Fixed costs are $30. Fill in Table 7.16 for total cost, average variable cost, average total cost, and marginal cost., now imagine a situation where the firm produces a quantity of 5 units that it sells for a price of $25 each. a. What will be the company’s profits or losses? b. How can you tell at a glance whether the company is making or losing money at this price by looking at average cost? c. At the given quantity and price, is the marginal unit produced adding to profits?Cost LRAC 40 30 20 10 100 200 400 800 Output b. What happened to the cost of one good as the firm increased its output from 100 units to 200 units and from 200 units to 400 units? c. What is the firm experiencing as it increased it scale of operation from 100 units to 400 units? d. What is the firm experiencing if it chooses to produce at point P? Give reason for your answer. e. Which point would be the best point for the firm to produce at? Give reason for your answer.
- i. Calculate the marginal cost, marginal revenue and profit for each unit of production. ii. How many units should the firm produce to maximise profit?for this graph answer the following question what is the total revenue? what is the total profit? what is the maximun point?Danilo and his wife operate a restaurant where they sell all their meals for $14.00 each. The markup on each meal is $5.00 and overhead expenses are 19.00% of cost. a. How much does it cost them to make each meal? $0.00 Round to the nearest cent b. What is their operating profit per meal? 50.00 Round to the nearest cent c. Calculate the break-even price. Round lo the nerert rent
- What is true with profit maximization of the firm using the Total Revenue Total Cost approach? PLEASE EXPLAIN A. The only requirement to find the optimal output that maximizes economic profit is that the difference between the total revenue and the total cost is the highest B. The total revenue should be lower than the total cost C. The total revenue should be higher than the total cost D. A and B are correct E. A and C are correctOutputAFC AVC АТС MC 1 100 40 140 40 50 35 85 30 3 33.33 35 68.33 35 4 25 36.25 61.25 40 5 20 38 58 45 16.67 40 56.67 50 A price taking firm has the above cost data. The price of output is $34. What level of output should the firm choose to maximize profit in the short run?Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Price Per Hour (Q) (P) 0 $6.00 1 5.50 2 5.00 3 4.50 4 4.00 5 3.50 6 3.00 7 2.50 8 2.00 Total Cost (TC) $2.00 6.50 10.00 13.00 15.50 17.50 19.00 21.00 24.00 loaves of ciabatta bread per hour. (Enter your response as an integer.) a. To maximize profits, Maria should sell Maria should charge a price of $ Maria's maximum profit is $ (Enter your response rounded to two decimal places.) (Enter your response rounded to two decimal places.) (Enter your b. The marginal revenue when selling the profit-maximizing number of loaves of ciabatta bread is $ response rounded to two decimal places.) The marginal cost when selling the profit-maximizing number of loaves of ciabatta bread is $. (Enter your response rounded to two decimal places.)
