Assume a competitive firm faces a market price of $60, a cost curve of: and a marginal cost of: This firm will MC = 0.012q² + 50. The firm's profit maximizing output level is units (enter your response rounded to two decimal places), and the per unit profit at this output level is $(enter your response rou two decimal places-include the minus sign if necessary). in the short-run. The firm will realize C=0.004q³+50q In the long-run, if circumstances do not change, this firm will + 750,
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- Assume a competitive firm faces a market price of $100, a cost curve of: C = 0.25q + 50q + 1,600 and a marginal cost curve of: MC = 0.50g + 50. The firm's profit maximizing output level is 100.00 units, the profit per unit is $9.00, and total profit is: $900.00. However, if the firm wanted to maximize the profit per unit, how much would it produce? It would produce units. (round your answer to two decimal places) If the firm produced this output level, what would be the profit? Its profit would be S. (round your answer to the nearest penny)Assume a competitive firm faces a market price of $100, a cost curve of: C= 1.00g + 25g + 1,600 and a marginal cost curve of: MC = 2.00g + 25. The firm's profit maximizing output level is 37.50 units, the profit per unit is $-5.17, and total profit is: $-193.88. However, if the firm wanted to maximize the profit per unit, how much would it produce? It would produceunits. (round your answer to two decimal places) If the firm produced this output level, what woulid be the profit? Its profit would be $. (round your answer to the nearest penny)Assume a competitive firm taces a market price of $70, a cost curve of C= 0.00g . 50g 1000, and a marginal cost of MC 0 00 . 50 The firm's profit maxmzing output level isunits (enter your response rounded to two decmal places), and the per unit profit at this output level is S (enter your response rounded to two decimal places-include the minus sign if necessary) This firm will in the short run The firm will relfize In the long-ru not change, this firm will produce shut down Assume a competitive fim faces a market price of S70, a cost curve of C- 0 003g + 50g . 1000, and a marginal cost of MC = 0 00g 50 The fim's profit maximzing output level isunits (enter your response rounded to two decimal places), and the per unit profit at this output level is S enter your response rounded to two decimal places-include the minus sign if necessary) This firm will in the short.run The fem will reallize In the long-run, if circumstances do not change, this firm will economic profit economic loss
- Assume a competitive firm faces a market price of $80, a cost curve of: C = 0.004q³ + 50q + 1000, and a marginal cost of: MC = 0.012q? + + 50. The firm's profit maximizing output level is 50.00 units (enter your response rounded to two decimal places), and the per unit profit at this output level is $0 (enter your response rounded to two decimal places-include the minus sign if necessary). This firm will may or may not produce in the short-run. The firm will realize zero economic profit , and will not have a business profit. In the long-run, if circumstances do not change, this firm will may or may not produceYann's bakery operates in a perfectily competitive market where the prevailing price for a baguette (his only product) is $3. If Yann's marginal cost function is given by MC 0. 19 () Yann's profit-maximizing level of output is 0 (1) Yann's variable profit is 0 (H) The producer surplus is 0 If Yann also has a fixed cost of $50, then: (Iv) his total profit is Assuming Yann cannot avoid the fixed cost, Yann should 0Assume a competitive firm faces a market price of $70, a cost curve of: C = 0.002q³ + 30q + 750, MC = 0.006q² + 30. The firm's profit maximizing output level (to the nearest tenth) is 81.64 units, and the profit (to the nearest penny) at this output level is $ and marginal cost curve of:
- Suppose you are a perfectly competitive firm producing computer memory chips. Your production capacity is 1000 units pe r year. Your marginal cost is P10 per chip up to capacity. You have a fixed cost of P10,000 if production is positive and P0 if you shut down. What are your profit-maximizing levels of production and profit if the market price is (A) P5 per chip, (B), P15 per chip, and (C) P25 per chip? For case (B), explain why production is positive even though profits are negative.Mondi Company produces party boxes that are sold in bundles of 1000 boxes. The market is highly competitive, with boxes currently selling for R100 per thousand. The company has a total and marginal cost curve given by: TC = 3,000,000 + 0.001Q2 MC = 0.002Q Q is measured in thousand box bundles per year. [5] a. Determine Mondi's profit maximizing quantity. b. Calculate if the firm is earning a profit or a loss? c. Based on the analysis above, should Mondi Company operate or shut down in the shortrun?Solve questions (iii) and (iv) only Suppose there is a perfectly competitive industry where all the firms are identical with identical cost curves. Furthermore, suppose that a representative firm’s total cost is given by the equation TC = 100 + q2 + q where q is the quantity of output produced by the firm. You also know that the market demand for this product is given by the equation P = 1000 – 2Q where Q is the market quantity. In addition, you are told that the market supply curve is given by the equation P = 100 + Q.i. What is the equilibrium quantity and price in this market given this information?The firm’s MC equation based upon its TC equation is MC = 2q + 1. Given this information and your answer in part (i), what is the firm’s profit maximizing level of production, total revenue, total cost and profit at this market equilibrium?ii. Is this a short-run or long-run equilibrium? Explain your answer.iii. Given your answer in part (ii), what do you anticipate will happen in this…
- Consider a competitive firm with total costs given by T C(q) = 100 + 10q + q^2. The firm faces a market price p = 50. (a) Graph the AT C, AV C, MC, and MR curves in a single graph, and indicate the profit maximizing level of output. If there are profits, shade the region corresponding to profit and label it. (b) If fixed costs increase from 100 to 500, what happens to the profit maximizing level of output, T R, T C, and π? (c) If fixed costs increase from 100 to 500, should the firm continue to operate in the short-run? What about the long-run?Conigan Box Company produces cardboard boxes that are sold in bundles of 1000 boxes. The market is highly competitive, with boxes currently selling for $100 per thousand. Conigan's total and marginal cost curves are:TC = 3,000,000 + 0.001Q2MC = 0.002Qwhere Q is measured in thousand box bundles per year. Calculate Conigan's profit maximizing quantity. Is the firm earning a profit?Quiz: Quiz 6 Question 13 of 25 Assume a competitive firm faces a market price of $100, a cost curve of: C= 1.00g + 25q + 1,600 and a marginal cost curve of: MC = 2.00g + 25. The firm's profit maximizing output level is 37.50 units, the profit per unit is $-5.17, and total profit is: $- 193.88. However, if the firm wanted to maximize the profit per unit, how much would it produce? It would produce units. (round your answer to two decimal places) If the firm produced this output level, what would be the profit? Its profit would be $ (round your answer to the nearest penny) II