Assume a profit maximizing firm's short-run cost is TC(Q) = 650+ 20^2. If its demand curve is P = 45- Q, what is the profit maximizing quantity? Select one: O a. 5 O b. 9 O c. 4 O d. 650
Q: Q7: Consider the markets for Streaming Services, Cable TV and Pizza Complete the following…
A: 1)Streaming services and cable TV can be considered to be substitutes of each other as they both can…
Q: Which of the following is FALSE? Select an answer and submit. For keyboard navigation, use the…
A: The term "perfect competition" refers to a market structure with the highest possible level of…
Q: A perfectly competitive firm's demand curve is Select one: O a perfectly inelastic O b. the same as…
A: Perfectly competitive market refers to that market in which the products are of homogeneous nature…
Q: A large share of intrafirm trade suggests Group of answer choices 1. There are increasing returns…
A: Intra-industry trade means the global trade of the items made within the same industry;…
Q: FIGURE 5-1 Refer to Figure 5-1. To be binding, a legal price ceiling must lie
A: price controls refer to the legal minimum price or maximum prices fixed for specified products.…
Q: Suppose the credit market in Triumph, Illinois is described by the schedule shown below. Local…
A: Equilibrium is where demand curve intersects supply curve. Equilibrium interest rate is determined…
Q: If the price of milk falls from $2.85 to $2.55, and this decreases the sales of juice by 2,500 units…
A: Two goods are substitute when the increase in price of one good , increases the demand for other…
Q: What will a tariff and an import quota do to the quantity of imports and the domestic price? reduce…
A: The term "trade restrictions" refers to the numerous policy tools the government uses to limit the…
Q: Price of Baskets $14 10 7 1 0 $210 $245 $420 40 $455 70 105 Domestic Supply Refer to Figure 9-1.…
A: Consumer surplus is the area below demand curve and above price. Consumer surplus is calculated by…
Q: In the beginning of the year, the economy has public debt (or national debt) of $500 million. This…
A: Budget refers to the official government document that details the government's income and expenses.…
Q: How do you recommend the government change GDP and taxes to stabilize the economy in each of the…
A: In an economy, government intervenes at the marketplace with its economic policies to deal with the…
Q: Question 2: The production function is given by Y-min(2L,K). Assume that the firm has a fixed stock…
A:
Q: Your firm's research department has estimated your total revenues to be R left parenthesis Q right…
A: A producer has to include the costs and benefits of the production. A rational producer will…
Q: Empirical evidence suggests that increases in the minimum wage do not result in reductions in…
A: Minimum wage refers to the government policies to set the minimum limit of the wage rate offered by…
Q: Jenny's income is 234. Her utility function is given by U = x+8.5y. Assuming the price of good X is…
A: Utility function shows the relationship between the utility and goods that are consumed. The given…
Q: Dan's utility function is U(x,y) =9.5 x2.4y4.9. Dan's income is 129.1 dollars, the price of good X…
A: The income expansion path is a graph chart that shows what different income means for the…
Q: What sort of product is alcohol in economic terms if the government wants to restrict consumption of…
A: The demand is said to be elastic whe the increase in price will decrease the quantity demanded of…
Q: The table below shows the demand schedule for museum admissions in a small city. Price (per visit…
A: When a price change causes a significant shift in either the supply or demand of a good, that good…
Q: O O -$1,000 $3,000 The figure above shows the demand schedule faced by an artist for reproductions…
A: Total revenue is the product of price and quantity. Marginal revenue is the change in revenue with…
Q: Himani and Ravi live in a deserted nation called Desertland. Himani spends all her time growing…
A: GDP or Grosse Domesticated Product is defined as the values of final goods and services, which is…
Q: growth trend of the economy is determined by: The demand side Business cycles The supply side Global…
A: Long run economic growth signifies that standard of living in the economy has improved due to…
Q: Suppose that the demand for digital pianos is price inelastic and the supply of digital pianos is…
A: When talking about the incidence of tax, it can be said that government imposes a tax on any of the…
Q: 2. You have developed a self-study certification system for those who need credit hours for…
A: The amount of people that purchase at the given price would determine the individual pricing that…
Q: The price of apples at a local market rises from $2.95 to $3.05 per kilogram, and as a result the…
A: Here, given information is, Initial price of apples: $2.95 Final price of apples: $3.05 Initial…
Q: Suppose in a competitive industry the demand curve is Q = 24 - 2P. The supply curve is P = 2+Q/2.…
A: Equilibrium is where demand curve intersects supply curve. At equilibrium, total surplus is…
Q: 1. The table below shows expected payoffs (ir $billions) for GM and the United Auto Workers (UAW) as…
A: Pure strategy Nash Equilibrium: Nash equilibrium with 2 players is the strategy profile where both…
Q: When the corporate bond rate falls investment expenditure _________ and aggregate demand __________?…
A: Corporate bonds are kind of debts issued by if the firm's to raise capital. An investor lends money…
Q: Consider a forester who must decide when to cut down a growing tree. Suppose the net value of the…
A: # If the continous interest rate is r% , then the future value a amount P is given as: =>…
Q: Cadmium is a chemical element with many industrial uses, including batteries and paint pigments.…
A: Changes in productivity cause changes in market demand and market supply for a good. The demand…
Q: Suppose the private market return is r=20%. The economy has progressive tax system as follows. Low…
A: Any investor has two options whether to invest in a government bond or invest in the private market.…
Q: profits (or potentially minimizing short-run losses). This attribute has the effect of O…
A: In a market economy, firms undertake production activities to maximize their individual profits by…
Q: A commercial bank has actual reserves of $29,000 and checkable-deposit liabilities of $35,000, and…
A: The sums the bank actually has on hand at any particular time are known as actual reserves. This…
Q: An insurance company estimates that drivers have a 5% chance of getting into an accident that will…
A: Probability analysis refers to an approach applied by risk managers for forecasting events in…
Q: Analyze the factors that would determine the impact of a price increase on the consumption of…
A: Price and demand for the good are negatively correlated with one another. The amount demanded…
Q: This is for a study guide (not for a grade) please do not decline question Using graph below An…
A: The exchange rate can be expressed in 2 ways: A) Price of domestic currency in terms of foreign…
Q: The growth rate of full-employment output between 2041 and 2042 is Which of the following best…
A: In the AD-AS model, AD is negatively sloped, but AS is positively sloped only in the short run. But,…
Q: Having a good commercial bank on your side, like Suntrust or Wells Fargo, will make it much easier…
A: An organization that engages in money and its equivalents and offers other services involving money…
Q: Refer to Figure 11-7. If the economy is currently at point X, what does the Keynesian model predict…
A: The upward sloping blue line in the Keynesian cross diagram reflects the aggregate expenditure for…
Q: I already have A,B,C and i have posted the answers with this. Can i please just get help with D,E,F?…
A: IS-LM model is the macroeconomic model which shows the interaction between economic and money…
Q: For each of the following years, determine the real interest rate. Find the difference between this…
A: Actual real rate computed as, = Nominal rate - Actual inflation rate Desired real rate computed as,…
Q: 1) Given the following cost and revenue schedule, find the profit-maximizing quantity. Calculate…
A:
Q: Which of the following statements is correct? Question 5 options: A) The prime rate involves…
A: One of the most significant interest rates in the economy is the federal funds rate. This is because…
Q: 1) In period t, a parental household equipped with human capital ht earns a labour income of wht,…
A: Utility optimization problem requires a budget constraint involving both the income and expenditure…
Q: Calculate the real GDP for 2012. Calculate the real GDP for 2013. Calculate the growth rate in real…
A: gross domestic product is the total market value of goods and services produced domestically during…
Q: Based on the information in the table, the money supply as measured by M2 is equal to: a b с Select…
A: Money supply means the amount of money accessible to a country's population as well as the amount of…
Q: 1) A basic supply and demand equilibrium diagrams 2) Supply shifting to the right 3) Supply to the…
A: The rate change in the amount of goods wanted divided by the rate change in price represents the…
Q: The Net Profit Margin Formula The net profit margin formula may appear daunting but is in fact very…
A: Introduction The net profit margin tells what a company is earning and how much revenue is from its…
Q: Consider the competitive market for rhodium. Assume that no matter how many firms operate in the…
A: The supply schedule is given below:
Q: Q2: Consider the following description: "In Prisoner of War camps during World War Two, prisoners…
A: Money is a tool of the financial markets. Money is used to exchange products and services by…
Q: The AD/AS model can help us understand that inflation can be caused by: decreases in SRAS or…
A: Inflation computes how much more expensive a set of products and services has become over a certain…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Find Q where MR = MC MC Costs, P P₁ = $20 ATC ATC, = $15 Q Q₁ = 7 (bushels of apples) Refer to the above figure. What is the total profit for this firm? O $35 O $45 O $55 $65 MR,Suppose that firm is currently producing 15 units of a good at a market price of $12. The firm has a MC of $12 and an average total cost of $8. What is the firm's economic profit and is it maximizing profits? O $0, yes O $60, no $60, yes O $0, no 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.A company manufacturing laundry sinks has fixed costs of $100 per day but has totalcosts of $2,500 per day when producing 15 sinks. The company has a daily demand functionof q = 360 − p, where q is the number if laundry sinks demanded and p is te price ofa laundry sink. ) If production increases continuously, what is likely to be the average cost per sink? How many laundry sinks will the company need to produce in order to maximise it′s profits? What is the maximum profit?
- Stuff, Incorporated is a firm with a total revenue of $1,000, marginal cost of $5, and average variable cost of $4. Both the output and input markets are perfectly competitive and Stuff, Inc. is in long run equilibrium. Stuff, Inc.'s output and total fixed costs must be equal to which of the following? O Output 200; Fixed Cost $200 O Output 200; Fixed Cost $400 O Output 200; Fixed Cost $800 O Output 250; Fixed Cost $800 O Output 250; Fixed Cost $400The profit (in dollars) from the sale of x lawn mowers is II(x) = 70 x -0.07 x2 - 750. The correct interpretation of the marginal average profit of producing 40 mowers is Select one: O a. Can not tell. O b.At production level of 40 mowers a unit increase in production will increase the total profit by $0.40 per mower. O c. At production level of 40 mowers the average profit is increasing at a rate of $0.40 per mower. O d. At production level of 40 mowers the average profit is $0.40 per mower.What is the marginal revenue gained when one more unit of output is sold? The price at which the extra unit is sold but adds the rise in revenue of the previous units that could have been sold at a higher price O a. O b. The price of the unit of output sold minus the production cost of that unit The price of the unit of output sold O c. Od. The price at which the extra unit is sold but subtracts the drop in revenue of the previous units that could have been sold at a higher price
- Given the marginal revenue function of a company MR = 250 – 8x, then the total revenue from selling 10 units is Select one: Оа. 3.125 O b. 31.25 ос 170 O d. 2100 O e. 2420The total revenue from the sale of x stereos is given by R(x) = 1,000 1 . Find the 700 marginal average revenue, R'(x). .... 700 O A. R'(x) = 0.002 - x? 1,000 O B. R'(x) = 0.002 - x2 1,000 OC. R'(x) = 1.43 - x? 700 O D. R'(x) = 1.43- x225. This question refers to the figure below which shows the price, marginal cost, and average cost curves facing a perfectly competitive firm in the short run. What is the total daily revenue of the profit-maximising firm in the short run? Cost, price (Rand) a) b) c) P 20 12 8 0: R800 R2 000 R960 60 ВО 100 Output per day MC AC Price AVC
- Short-Run P Marginal Cost $105 Average Total Cost Average Variable Cost $88 $55 460 1675 600 Refer to Figure 8-3-2. When the market price equals $50, what is the profit maximizing output? 675 O 460 O 600Refer to the information provided in Figure 9.4 below to answer the question(s) that follow. MC AVC d%3 MR 100 Units of output Agure 9.4 Refer to Figure 9.4. In the short run, if economic conditions do not change, this firm should produce units of output and will earn a total revenue O a. 100; of $800 O b. 0; of S0 less than 100; > $0 but $800 Price per unitIf you are given the following total cost function and the demand equation as follows: TC = 40+ 50Q +5Q^2 P= 170 -5 Q where P is price level, Q is quantity sold and TC is total cost. The profit maximizing output level in the above model is: O a. 10 O b. 6 O c. 110 O d. 20