1. When the TR and TC curves have the same slope, a. they are the furthest from each other. b. they are closest to each other. c. they intersect each other. d. profit is zero.
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- Cost MC Select one: ATC AVC ABC D Quantity C in the figure above represents the output level where the firm Quantity a. maximizes profits in the short-run. b. minimizes total costs in the short-run. C. maximizes profits in the long-run. d. minimizes marginal costs in the long-run. e. None of the above.7. Chandra's Bookstore wants to find the price for maximum profit. The expense equation is E =-3400p +30,000. The revenue equation is R=-1800p² +21,000p. Find the price for maximum profit. A. $52,688.89 B. $4.89 C. $6.78 D. $6.50Find the value of A,B,C,D & E. Add $8 with FC. New FC=$10, now assuming quantity and variable cost remain the same, Create a new table and find the value of TC,AFC,AVC,ATC and; MC.
- 5. El Sol Inc. produces beach towels. The cost of each towel is $ 4.00 and it sells for $ 10.00 after the markup on its cost. Similar towels sell for $ 8.00. How much should each towel cost you to be able to adjust to the market price and keep your profit margin?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?please answer with solution/explanation Please answer all questions
- 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?Caroline opens a lemonade stand for two hours. She spends $15 for ingredients and sells $50 worth of lemonade. In the same two hours, she could have mowed the neighbor's yard and earned $10. a. What are Caroline’s explicit and implicit costs? b. What is Caroline’s accounting profit? What is her economic profit? Show how you calculated each profit.based on the information in the table what is marla's profit margin? marla's smoothie shop total revenue-$1,400total cost- $900average cost- $7fixed cost-$700quantity-200 A.$3.50 B.$2.50 C.$4.50 D.$5.00
- Kindly help me with below homework question : Alpha is a price taking firm. At Its currant output level of 100 widgets. Alpha's total revenue is $2000. Marginal cost $8. Based on this information. which of the following can be deduced? A. Alpha is maximizing profits.B. Alpha's profits are negative .C. None of the above .D. Alphas profit are positive .i need the answer quicklySolve the attachment.
