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- need help with the graphs 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.Basti’s Coffee operates in a competitive market. The short run price in the coffee market is equal to Basti’s Coffee average variable cost. a. Using two correctly labeled graphs show the coffee market side by side with Basti’s Coffee. Clearly indicate which graph represents the market and which represents Basti’s Coffee. In your graph identify: i. price and quantity in the coffee market (3) ii. price and quantity for Basti’s Coffee (3) iii. The area of economic profit or loss for Basti’s Coffee (3)10. Figure 5 shows the graph of the short-run cost curves for Tim-T-Shirts, a firm operating in a perfectly competitive market. P* denotes the current price for Tim T-Shirts. Based on the information in the graph, which of the following should we expect in the long run? a) New firms will enter the market. b) The number of firms in the market will remain unchanged. c) Gray Sweaters will increase the current price of sweaters. d) There is not enough information to answer the question. Figure 5 Price and Costs P* MC ATC AVC Quantity
- 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?13. Firms in Competitive Markets The market for fertilizer is perfectly competitive. Firms in the market are producing output but are currently making economic losses. Which of the following statements is true about the price of fertilizer? Check all that apply. The price of fertilizer must be less than average total cost. The price of fertilizer must be less than marginal cost. The price of fertilizer must be equal to average variable cost. The following graphs show the cost curves faced by a typical firm, the demand for fertilizer, and possible price and supply curves. Prics and Cast MC Firm Demand Quantity Market Quantity (?) If firms in the market are producing output but are currently making economic losses, market, and indicates the corresponding supply curve. illustrates the present situation for the typical firm in the Assuming there is no change in either demand or the firm's cost curves, which of the following statements is true about what will happen in the long run? Check…3. Profit maximization in the cost-curve diagram Suppose that the market for frying pans is a competitive market. The following graph shows the daily cost curves of a firm operating in this market Hint: After placing the rectangle on the graph, you can select an endpoint to see the coordinates of that point. 100 90 Profit or Loss 80 70 ATC 60 50 40 30 AVC 20 MC 10 5 10 15 20 25 30 35 40 45 50 QUANTITY (Thousands of pans per day) In the short run, at a market price of $50 per pan, this firm will choose to produce 37,500 pans per day. PRICE (Dollars perpan)
- Behind the Supply Curve: Inputs and Costs Work It Out: Question 2 of 5 The accompanying table shows a car manufacturer's total cost of producing cars. Calculate the variable cost (VC) for the following quantities. VC for a quantity of 0: $ VC for a quantity of 5: $ VC for a quantity of 9: $ 0 Quantity of cars Total Cost $500,000 540,000 560,000 570,000 590,000 620,000 660,000 720,000 800,000 920,000 1,100,00 0 1 2 3 4 5 6 7 8 9 10If pepsi bought out coca-cola and cokes family's to form one large mega company what would happen to the price of sodas in the united statesAstro Computers makes onboard vehicle control computers for the Tesla. The production department has gathered data on the costs of several yearly production levels and asked you to help interpret these for them. 1. The data for Astro appear in the graph below. The COO asks what production level he should set for the coming year, if Astro operates in a perfectly competitive market. (the graph is in the picture) 2. Is Astro earning “excess profit” (explain what that means if you think they are) and how other firms will react when they see Astro’s performance? 3. The production department has also done a bit of research on other firms operating in the market for onboard control computers. The graph below shows the relative sizes and cost structures of the four largest firms in the market (Data, Astro, Consolidated and BCS); these four firms combined account for 35% of business in the market for onboard control computers. There are over fifteen firms that supply onboard control computers…
- On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 6, 12, 15, 18, 24, and 30 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. Calculate the total revenue if the firm produces 6 versus 5 units. Then, calculate the marginal revenue of the sixth unit produced. The marginal revenue of the sixth unit produced is________. Calculate the total revenue if the firm produces 12 versus 11 units. Then, calculate the marginal revenue of the 12th unit produced. The marginal revenue of the 12th unit produced is_________.Answer multiple choiceThe following graph shows the short-run supply curve for peca Place the orange line (square symbol) on the following graph to show the most likely long-run supply curve for pecans. (Note: Place the points of the line either on N and G or on N and Z.) PRICE (Dollars per pound) 24 20 16 12 N D G Short-Run Supply 10 QUANTITY (Thousands of pounds of pecans) Long-Run Supply ?