11.0010.009.008.007.006.005:004.005.002.001.00Dem90,000 100.000 110.000 120.000 130,000 140,000 150,000 150.000What is the profit per firm at the short run equilibrium price?Ⓒa. zerob. 75004500Ⓒd. 9000 QUESTION 29The pictures below depict the cost curves for firms in a particular industry and the market demand curve. There are initially 60 firms in the market.11.0010.001:008B1007008.005.004.003002.0081.0011.0010003:008.00300 100900ATCAVC1200 1500 1000 2100 2400

In a perfectly competitive market, the portion of MC above AVC is an individual firm supply curve.…

10 00 9.00 8.00 7.00 8.00 5.00 4.00 5.00 2.00 100 Dement 90,000 100.000 110.000 120.000 130,000 140,000 150,000 160,000 What is the profit per firm at the short run equilibrium price? a zero b. 7500 4500 Ⓒd. 9000

10 00 9.00 8.00 7.00 8.00 5.00 4.00 5.00 2.00 100 Dement 90,000 100.000 110.000 120.000 130,000 140,000 150,000 160,000 What is the profit per firm at the short run equilibrium price? a zero b. 7500 4500 Ⓒd. 9000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

MC АТС $25.00 AVC $19.50 $15.00 $12.50- 30 40 50 60 Output (Q) The Short Run Supply Curve for the firm shown in the diagram above is its MC curve for any price greater than $12.50 $25.00 $15.00 $19.50
What is the long-run equilibrium quantity?
Question 14 Figure 1 Use this figure for questions 14-20. This figure shows costs for a firm in a perfectly competitive market. Price MC 175 ATC AVC 125 100 80 270 322 515 Quantity Referring to Figure 1, suppose the price of the good is $175. If the firm produces and sells 515 units of output, its total revenue is (leave out the dollar sign)
Total Product 1 2 3 4 5 6 7 8 9 10 Average Fixed Cost $ 150.00 75.00 50.00 37.50 30.00 25.00 21.43 18.75 16.67 15.00 Multiple Choice The accompanying table gives cost data for a firm that is selling in a purely competitive market. If the market price for this firm's product is $68.10, it will produce 8 units at an economic profit of zero. 6 units at a loss of $90. Average Variable Cost $ 25.00 23.00 20.00 21.00 23.00 25.00 28.00 33.00 39.00 48.00 9 units at an economic profit of $281.97. 8 units at an economic profit of $130.72. Multiple Choice 6 units at a loss of $150. 6 units at a loss of $90. The accompanying table gives cost data for a firm that is selling in a purely competitive market. If the market price for this firm's product is $35, it will produce Average Total Cost $ 175.00 98.00 70.00 58.50 53.00 50.00 49.43 51.76 55.67 63.00 9 units at an economic profit of $281.97. Marginal Cost $25.00 21.00 14.00 24.00 31.00 35.00 46.01 68.07 86.95 128.97 8 units at an economic profit…
4. [A Monetary Surprise] Consider an economy in which the demand for money is of the form M₁ = = P₁Y for t = 0, 1,2,..., where output is 150, the money velocity is 1.5. The money supply is 100 for t = 0, 1. In period 2, the central bank surprises people and announce that money supply will grow at 2 percent forever, that is, Mo = 100, M₁ = 100, M₂ = (1.02) M₁, M3 (1.02) M₂, and so on. (a) What is the inflation rate in period 1, 7? What is real money balance in period 1, ? What is the expected inflation in period 2, given the information available in period 1, E172? (b) What is the inflation rate in period 2, m₂? What is real money balance in period 2, 2? What is expected inflation in period 3, given the informa- tion available in period 2, E273? (c) What is the inflation rate in period 3, 73? What is real money balance in period 2, ? (d) Compare E₁₂ and 7₂. B
A) Refer to the table (image). If the price is $6, the perfectly competitive firm should produce B) Refer to the table (image). If the price is $5, the maximum economic profits this firm could earn is
I think either 10 or 15 please help ?
None
At the marketplace $8 per bushel.....please answer
s 1, 12 & 13 Assignment Saved Help Save & Exit Assume a purely competitive increasing-cost industry is in long-run equilibrium. If a decline in demand occurs, firms will Multiple Choice leave the industry, price will fall, and quantity produced will rise. enter the industry and price and quantity will both rise. leave the industry and price and quantity will both rise. leave the industry, price will fall, and quantity produced will fall.
$150 $145 $140 MC $135 $130 $125 $120 $115 ATC $110 $105 $100 $95 $90 $85 $80 AVC $75 $70 $65 $60 $55 $50 $45 $40 $35 $30 $25 0 1 2 3 5 6 Quantity Produced 7 8 9 10 11 The graph above shows the cost functions for a perfectly competitive profit maximizing firm. If the market price of the product is $70 per unit, the firm will produce units, will cover make an economic profit of dollars. dollars of its fixed cost, and will
Price (dollars) 8 7 6 5 4 3 2 1 0 80 O increase; increase; increase O remain same; remain same; decrease O decrease; remain same; decrease O decrease; decrease; decrease Short-run Short-run MC AC 100 110 The graph above shows the cost curves for a firm selling in a perfectly competitive market. If the market demand falls due to a recession, the long run equilibrium price will output will ., the firm's and industry output will Output (per day) Long-run AC