Economic profits may result from: O a. innovation b.risk taking Oc. exploiting market inefficiencies Od. all the above O e. a and b

Q: The costs of changing prices in imperfectly competitive industries do not include O A. loss of…

A: Introduction  The question is related imperfectly competitive market

Q: 6. La Bella Pizza can produce a pizza for a marginal cost of $2. Its price o a pizza is $15. a.…

A: a.No, La Bella Pizza could not make a larger economic profit by offering a second pizza for $5. In…

Q: Refer to the diagram to the right which shows the cost and demand curves for a profit -maximizing…

A: A perfectly competitive firm produces at P=MC in short run.  The market price is $30…

Q: a corn farmer will tend to expand his output as long as the price of corn exceeds aversge variabke…

A: The structure of a market where there are a large number of buyers and sellers in the market selling…

Q: Don't use chatgpt or any AI A profit-maximising firm in a competitive market is currently producing…

A: A competitive industry refers to a industry in which there are many buyers and sellers dealing a…

Q: Kindly find the remaining values and writ the comments on the results?

A: The remaining values can be found using the following formulas Arc elasticity is calculated by…

Q: 24 MC ATC P= MR 200 0 1000 1.00 q Bushels of soyberans Figure 9.3 If this farmer is producing the…

A: please find the answer below.

Q: QUESTION 4 47 Dave's perfectly competitive coffee-producing factory is making positive economic…

A: In the perfectly Competitive market, a firm will be able to earn economic profit when its average…

Q: . What is the marginal revenue obtained from selling the 4th unit?

A: Marginal revenue is the change in the total revenue that results from the sale of an additional unit…

Q: 11. The graph shows the short-run cost curves of o toy producer. The market has 1,000 identical tov…

A: Perfect competition is a market structure characterized by a large number of buyers and sellers…

Q: Advertisements are considered to be O A. offers OB. invitations to offer O C. invitations to…

A: An offer is a statement that expresses a willingness to contract on certain terms, which, if…

Q: Dollars Per Unit B A 2 N O F Dollars Per Unit Y MC H I 4-14 S PERFECT COMPETITION PRACTICE EXERCISE…

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Q: If the market price were $8, what would be the profit for this firm? a. 120 b. 180 c. 0 d. $960

A: The market productivity will take place at a place where the market price intersects the marginal…

Q: Number of Fruit Baskets TFC TVC TC MC $50 $0 $50 1 50 10 60 10 2 50 15 65 5 50 21 71 6 4 50 31 81 10…

A: In a perfectly competitive market, price equals the marginal cost. If the market price of the fruit…

Q: 3 The figure below shows the cost curves for a profit-maxmizing firm in a periecny competitive…

A: Variable cost are the costs that proportionally change with the changes in the activity base such as…

Q: the ma Below the graph, write the interpretation of the values of the marginal cost (MC) and the the…

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Q: Figure 9.1 shows the cost structure of a firm in a perfectly competitive market. If the market price…

A: The perfectly competitive market refers to market where large number of buyers and sellers exist in…

Q: QUESTION 3 Assume the following: • Price 10 • Quantity = 20 • Explicit Cost = 50 • Implicit Cost =…

A: Economic Profit refers to the profit or revenue generated from the sale of any goods and services…

Q: Assume Cathy's Cupcake Company operates in a perfectly competitive market producing 10,000 cupcakes…

A: In perfect competition at equilibrium, P = MC  When MC exceeds the price, it is not the efficient…

Q: MC ATC P MR 2 200 200 1000 1,400 g Bushels of soybeans Figure 9.3 If this farmer is producing the…

A: Since firms in perfect competition are price takers, A perfectly competitive firm maximizes profit…

Q: QUESTION 6 Table of a perfectly comptetitive firm COSTS Quantity Total Produced Cost 0 1 2 3 4 50 6…

A: Perfectly competitive firm: Under a perfectly competitive system, a large number of firms face all…

Q: Output 0 1 2 3 4 5 Marginal Revenue Multiple Choice 3. $ 16 16 16 16 16 Marginal Cost -- Refer to…

A: The profits will be maximized at an output levelwhere marginal revenue equals marginal cost. In the…