35. Consider a firm in a perfectly competitive market. The long run average total cost is described by the equation: ATC = Q2-160Q +6600. What is the market equilibrium price in the long run? [a] 200 [b] 150 [c] 100 [d] 80
Q: Consider the wage negotiations between Cricket Australia (CA) and the union that represents the…
A: the scenario where the union (U) moves first and makes an offer p. If the offer is accepted, U will…
Q: Consider the two-country model of technology growth. Suppose that yA,1 > YA,2 and that the two…
A: The two-country model of technology growth is an economic model that analyzes the long-run economic…
Q: QUESTION 9 Use the following table to answer the questions below. Vietnam's Production Possibilities…
A: Opportunity cost is an economic concept that refers to the value of the next best alternative…
Q: In the United States in 2019, more than seventy percent of those who were not covered by health…
A: A type of insurance coverage that helps to cover the cost of medical and surgical expenses incurred…
Q: Qs = 5P² + 200 in bottles and prices are r
A: Market Equilibrium: Market equilibrium is a situation where the QD is equal to the QS at the given…
Q: Fill in the blanks in the table below. Instructions: Enter your responses rounded to two decimal…
A: YearNominal ValueReal ValueCPI (times 100)200527525020103001302015500125Definition:Nominal Value:…
Q: Consider an exchange economy with two people (Ali, and Burcu) and two goods (apples, and bananas).…
A: Two people (Ali and Burcu), two goods, exchange economy. Ali and Burcu have the following utility…
Q: Rework on the HDI calculation. In 2019, the U.S!'s life expectancy at birth was 78.9, Mean years of…
A: The mean achievement in all fronts of human development is known as Human Development Index. The…
Q: Calculate the PPP-adjusted GDP for each of the four countries, using the information found in the…
A: GDP or gross domestic product is the sum of the value of all end commodities produced within the…
Q: Suppose the price of good Y is $18. Use the information given in the figure below to answer this…
A: Change in price influences the quantity demanded. The change in the quantity demanded is known as…
Q: Three engineers made the estimates shown below for two optional methods by which new construction…
A: Life=5 years Discount rate =10%
Q: Consider an economy described by the following: The expression for the MP curve is: OA. r= 1 + 0.8.…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: Beauty of an expert you are Hand written solution is not allowed
A: Productive efficient occurs when the firm is producing at the minimum of the average total cost.this…
Q: 2. What is the monthly payment for a loan of 100,000 over 5 years nominal interest rate is 12%…
A: Loan amount = $ 100,000 Tenure = 5 years = 5 × 12 months = 60 months Interest rate = 12% (compounded…
Q: Question 18 Suppose that the pricing strategies for FiberOne and of Starlink are shown in the table…
A: In game theory, a dominant strategy is a strategy that provides the highest payoff for a player…
Q: Suppose that the demand curve for wheat is Q=140-10p and the supply curve is Q = 10p. The government…
A: To solve this problem, we first need to find the equilibrium price and quantity without the price…
Q: Problem. 6: Gator Office Supplies sells two models of fax machines. The wholesale cost of the Blue…
A: Profit is the term used to describe the monetary gain experienced when the revenue from an economic…
Q: Suppose that a perfectly competitive industry consists of 96 firms and fixed cost of an individual…
A: Demand curve is the downward sloping curve. Supply curve is the upward sloping curve. Equilibrium is…
Q: An asset for drilling was purchased and placed in service by a petroleum production company. Its…
A: DISCLAIMER; “Since you have asked multiple question, we will solve the first three question for you.…
Q: c. Suppose the household income doubles to $1,000. Sketch the new budget constraint facing the…
A: The budget constraint shows the maximum capacity of consumer to spend on two goods or commodities.…
Q: Consider the case of greenhouse gas (GHG) sequestration (removal from the atmosphere) as a public…
A: The total net benefit refers to the difference between the maximum willingness to pay and the actual…
Q: 2. In June 2006, a Korean investor is considering investing in bank deposits in Korea and Japan. The…
A: DISCLAIMER “Since you have asked multiple questions, we will solve the first question for you. If…
Q: Compare the alternatives shown on the basis of their capitalized costs using a MARR of 10% per year.…
A: A cost associated with the purchase of a building, piece of equipment, or other fixed asset is…
Q: Question 2 Only two firms, ABC and MNO, sell a particular product. The following table shows the…
A: A duopoly is a type of oligopoly market in which two firms sell a product to a large number of…
Q: Suppose that Comcast has a cable monopoly in Philadelphia. The following table gives Comcast's…
A: Monopoly market is the type of market in which there is only a single seller and many buyers. The…
Q: 2. American and Japanese workers can each produce 4 cars per year. An American worker can produce 10…
A: Note:- Since we can only answer up to three subparts, we'll answer first three. Please repost the…
Q: Chopin loves to listen to his mother and sister playing piano, they are better piano players than…
A: Consumption – Leisure Model: In this model the household determine how he allocate his time between…
Q: . Using the information in the chapter, suppose Home doubles in size, while Foreign remains the same…
A: production capacity: refers to the maximum amount of goods and services that can be produced within…
Q: Suppose consumers have pre ences over consumption of wine an summarized by the utility function u =…
A: Optimal consumption bundle: The optimal consumption bundle is such that at that bundle the…
Q: According to the dynamic AD-AS model, what is the most common cause of inflation? O A. Total…
A: Dynamic AD-AS model presents a dynamic short-run theory of output, inflation, and interest rates.
Q: Question 1 You are given with the following data for the country of Myanmar- Goods 2016 2017 Output…
A: Nominal GDP = current year price * current year quantity Note: As you have posted multiple questions…
Q: Utopia produces only two products: cheese and wine. The production levels are shown in the table…
A: The different combinations of goods (here, cheese and wine) that can be produced by an economy,…
Q: Suppose the United States and Mexico both produce hamburgers and tacos. The combinations of the two…
A: US can produce maximum 243 tons of tacos or maximum 270 tons of hamburgers. Mexico can produce…
Q: The table below provides information on the growth in the money supply (M), velocity (V), the price…
A: The Quantity Theory of Money (QTM) is an economic theory that states that the money supply (M)…
Q: By considering situation below Option 1: Invest RM1000 and received RM110 monthly for 10 months…
A: Present worth analysis, also known as present value analysis or discounted cash flow analysis, is a…
Q: 3. Suppose that the representative consumer's preferences change, in that his or her marginal rate…
A: Consumer preferences refer to the choices that consumers make when selecting goods or services to…
Q: (a) Find the set of rationalizable strategies (b) Find the set of Nash Equilibria in pure strategies
A: The Nash equilibrium is a decision-making theorem within game theory that states a player can…
Q: Suppose there is some hypothetical economy in which households spend $0.50 of each additional dollar…
A: A typical household spends $0.5 of each additional dollar which means the value of marginal…
Q: You are a bidder in an independent private values auction, and you value the object at $4,000. Each…
A: An auction is a public sale in which goods, services, or properties are sold to the highest bidder.…
No written by hand solution
![35. Consider a firm in a perfectly competitive market. The long run average total cost is described by the
equation: ATC = Q²-160Q +6600. What is the market equilibrium price in the long run?
[a] 200
[b] 150
[c] 100
[d] 80
Version A
10](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa5cb6374-1961-4553-a9c8-c8c2ede41613%2F0f001e1a-3faa-4271-a2f9-6cacd17b0748%2Fib4vl1d_processed.jpeg&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- What two lines on a cost curve diagram intersect at the shutdown point?Graph represents the cost structure of an individual firm in a perfectly competitive market. If the price decreases to $25, find the profit maximizing output of firm A by explaining the profit maximizing condition for a perfectly competitive firm. Calculate total revenue, total cost, total variable cost and the profit of the firm at the profit maximizing output.Quantity Total cost, TC (1000 dollars per week) (tons of fish per week) 10 25 35 3 50 4 70 95 6 125 27) Abu Muhammad is a perfectly competitive fisherman in Muscat. His costs are shown in the table above. What is Abu Muhammad's shut-down price per kilogram of fish? A) $0.015 B) $0.0125 C) $0.0167 D) S0.0100
- Costs MC (per pound) ATC AVC 3.00 2.25 1.50 150 180 225 Quantity (pounds) The figure above shows the cost curves of a perfectly competitive company in the apple market. Use the graph in Figure to answer the following questions. Assume the market price is $3 per pound. a. What is the lowest price at which the apple producer will supply output in the short run? $ per pound. b. What is the firm's profit-maximizing (loss-minimizing) output? c. Is the firm earning a profit or a loss? loss profitPrice and cost (dollars per mug) NA a ∞ ONA a 16 0 5 10 15 20 25 30 35 40 45 50 Quantity (mugs per day) $160; $280 The figure above shows Mollie's Mugs' costs producing mugs. The mug market is perfectly competitive. If the market price of a mug falls to $5 and Mollie's shuts down temporarily, its total variable cost is per day and it incurs an economic loss of per day. $8; $14 MC $0; $120 ATC AVC $0; $6Figure: Cost Curves for Corn Producers Price, cost of bushel $30 26 MC 22 18 ATC AVC 14 10 1 3 4 7 Quantity of corn (bushels) Reference: Ref 12-3 (Figure: Cost Curves for Corn Producers) Look at the figure Cost Curves for Corn Producers. The market for corn is perfectly competitive. If the price of a bushel of corn is $10, in the short run, the farmer will produce of corn and earn an ec omic equal to 2 bushels; profit; $0 2 bushels; loss; just more than $80 per bushel 3 bushels; profit; loss, -$15 4 bushels; profit; just less than $80 per bushel
- The graph below displays the short-run cost curves for Paola's Pears, a small farm competing in the perfectly competitive pear market. $7 MC ATC AVC 100 200 300 400 500 600 700 800 Pounds of Peara (a) If the market price for a pear is $5, how many pears would Paola produce to maximize her profit? [ Select] (b) At a $5 market price, what is the maximum profit (or minimal loss) Paola would earn? [Select] Price of Pears $6 $5 34 $3 $2 S >20) - Google Chrome "mod/quiz/attempt.php?attempt%3=1579003&cmid%3812962&page%3D2 em (Academic 20- MC ATC AVC 16 4. 5 10 15 20 25 30 35 40 45 50 Quantity (units per day) The above figure shows the cost curves for a perfectly competitive firm. If all firms in the market have th same cost curves and the price equals $16 per unit Select one: O a. over time, the price will fall as new firms enter the market. O b. over time, firms will leave this market. O c. the market is in its long-run equilibrium. O d. the firm is making zero economic profit. o search hp Price and cost (dollars per unit)Please Solve In 15mins e-h
- Question 3 The following graph shows the price, marginal cost, and average cost curves for a firm. MC Price (RM) ATC 40 27 16 12 MR 250 500 570 Quantity (Units)Ssessm /assignm f'CollegeBoard AP Classroom Unit 3 Progress Check: FRQ 2. Quantity of Output Total Cost 0. $12 1. $14 $18 3. $24 4. $32 5. $42 $54 9. 7. $68 The table above shows the total cost function for a typical firm producing hats in a perfectly competitive market. The market price for hats is $9 per hat. (a) Calculate the average variable cost of the fifth unit. Show your work. (b) What is the firm's profit-maximizing quantity of hats? Explain using marginal analysis. (0) Draw a correctly labeled graph showing the firm's demand and marginal cost curves, and show the profit-maximizing quantity of nats determined in part (b). (d) If the rent of the building the firm occupies increases, what will happen to the firm's profit-maximizing quantity of autput in the short run? Explain. B IU Type here to search P国What is this firm's profit maximizing quantity? (write your answer as a whole number, like 30)
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)