1. Competitive market, Practice Question Wheat farmer Joe has the cost function of C(q) = 160,000 + 100q+q²__ The market for wheat is competitive and there are many farmers like this, with the same cost function. The demand function is Q = 15000 - 10p. (a) In the short run, below which price should Joe shut down? (b) In the short run, there are 19 farmers like Joe (so 20 farmers in total). How much should Joe produce? What will the price be? (c) What is the price below which Joe would shut down in the long run?

Q: I need help working through this problem

A: Market clearing price and quantity is archived where both seller and buyer agree to exchange their…

Q: An agricultural seed company has an inverse demand given by: P = 120 - 2Q, and a cost function given…

A: Note : In case of multiple questions , we answer only the first question.  The answer to your first…

Q: (Trade Restrictions) Suppose that the world price for steel is below the U.S. domestic price, but…

A: When a country wants to restrict its imports of foreign goods it can use two devices: Tariffs…

Q: In a company, who gets to determine when and how data should be used?

A: Data refers to individual facts, figures, or bits of information that are often quantitative. A…

Q: Make flow chart of type of budget?

A: budget is a estimate expense and income for certain period of time

Q: The issues of having a positive notation on your CORI or SORI and how it might impact a career in…

A: CORI(Criminal offender record information) or SORI(Sexual offender record information), are the…

Q: the quantity of a good or service which consumers want and have the ability to purchase

A: Quantity- It is the number or amount of goods or services.

Q: This is practice and I need it explained in detail please.

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: Please write more clearly.

A: Production function shows the relationship between the inputs used and output produced. The marginal…

Q: Use image

A: The spending function represents the relationship between household spending and total income. When…

Q: how do you write an audit of how you nonverbally communicate?

A: Title: Audit of Nonverbal Communication SkillsIntroduction:This audit aims to evaluate and assess…

Q: How is the Purchasing power important?

A: Answer - Purchasing Power - Purchasing power is overall buying capacity of country which is…

Q: i need help with the chart

A: The amount of interest one would be paying every month is known as a monthly interest rate. This…

Q: c) What is the cost of the consumer's original 2018 bundle at the new 2019 prices? How much…

A: Now, the price of food F1= $100  the price of housing increased H1 = $200. the cost of the…

Q: Consider two states that adopt different laws concerning labor unions. The following graph shows the…

A: There would be an excess supply of labor in the market at the wage rate of $12.5. At the wage rate…

Q: The figure given below shows revenue and cost curves of a monopolistically competitive firm. Figure:…

A: 18. As shown in diagram 12.1 the profit-maximizing condition of a monopolistic competitive firm is…

Q: An agricultural seed company has an inverse demand given by: P 120 - 2Q, and a cost function…

A: Given- P=120-2Q-------------1 C =20Q We can calculate : Total Revenue (TR) = PXQ = 120Q - 2Q2 Now,…

Q: What is economic and e commerce

A: This can be described as a form of market in which no single producer or consumer has the power to…