Assuming that the monopolistic competitor faces the demand and costs depicted below and finds the profit maximizing level of output, what will be the firm's revenue? 45 8 ને 8 8 8 35 25 Select one: a. $80 b. $0 because the firm will shut down c. $120 Od. $64 MC1 ATC₁ AVC1 MR1 D₁ 12 3 4 5 6 7 8 9 X

Assuming that the monopolistic competitor faces the demand and costs depicted below and finds the profit maximizing level of output, what will be the firm's revenue? 45 8 ને 8 8 8 35 25 Select one: a. $80 b. $0 because the firm will shut down c. $120 Od. $64 MC1 ATC₁ AVC1 MR1 D₁ 12 3 4 5 6 7 8 9 X

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

3.12 and 3.16
1/3 _2/3 a).f (x1, x2) b).f (x1, 12) c).f (x1, x2) d).f (x1, x2) 20} + 3r3 2x1 + 12 e).f (x1, x2) f).f (x1, x2) 2x2 + 3x2 min {2r1, T2} 1. Graph indifference curves. 2. Compute marginal utilities. Check if they are diminishing or not. 3. Compute marginal rate of substitution (slope of indifference curves). 4. Is this function monotone? 5. Is this function concave? 6. Find maximum and minimum of this function in the the following budget set (assume p1 = 2, p2 = 1 and m = 12): Piri + P2x2 0, x2 > 0.
Study: 30-Year Life Expectancy Gap in 2 Chicago Communities The life expectancy of people living in an affluent community on Chicago's North Side is decades more than people living in a poor African American community on the city's South Side, according to a new study. A New York University School of Medicine analysis reveals that on average, Streeterville residents live to be 90 years old, the Chicago Tribune reported. The typical life expectancy of residents of Englewood, about 9 miles to the south, is roughly 60 years. NYU researchers said the 30-year divide between the two neighborhoods is the nation's largest disparity. The academics studied life expectancies in neighborhoods in America's 500 largest cities based on information from the Centers for Disease Control and Prevention from 2010 to 2015. Mayor Lori Lightfoot has vowed to improve schools, generate jobs and nurture economic development on struggling neighborhoods in Chicago's West and South Side communities. The study…
Suppose that education does not affect worker’s productivity, but it is more costly for low-ability workers to obtain the education. If firms cannot distinguish between different workers they must pay them all the wage equal to the expected productivity. If they can distinguish between workers with different abilities, they pay each worker their marginal product of labour and make zero profits. 70% of workers in the population have low ability. The productivity of low-ability workers is YL = 20000, and the productivity of high-ability workers is YH = 50000. The cost of education to high-ability workers is CH(S) = S 4 , and the cost of education to low-ability workers is CL = S. (Answer 4.5.6 only) 1. Suppose firms cannot observe worker’s education. What wage will they offer to a highability worker? What is the optimal level of schooling for the high-ability worker? Why? 2. Suppose that firms can observe worker’s educational attainment and believe that workers with the level of…
The proportion of vehicles which drive above the speed limit on a freeway is 85%. Suppose 100 vehicles are randomly clocked. 20 If each speeding vehicle is issued a $185 speeding ticket, the expected value of the ticket amount is $________. a $15,725 b $14,560 c $13,480 d $12,485
A buyer for an electrical component is searching for a supplier who has the best combination of low price, low order cycle time and low order cycle variability.Current uage for the component is 100 units per day. the buyer received data on four potineital suppliers (table) Based on the order cycle time, variability and unit price data provided in the table, which supplier should be awarded the component business?
Hhe paypil prbeluces. Drive the first orler Condition of Maximization for lutemediate gad with respect to Pel) Peti -MCtti
EVA - Economic Value Analysis
Compute the R² using the following information. What does this number mean? Wage = 4.43 +0.61Edu + e n = 1089, SST = 37211.6, SSE 37211.6, SSE 19848.2 R² = = = 0.4666. 46.66% of the variation in wage can be explained by education. R² = 0.5334. 53.34% of the variation in wage can be explained by education. R² = 0.61.61% of the variation in wage can be - explained by education. R² = 0.3043. 30.43% of the variation in wage can be explained by education.
The table below shows the production of all goods by the nation of Lemonaidia in 2013 and 2014 with their respective prices. 2013 Output 2013 Prices $1.00 per glass Lemonade 200 glasses Cookies 100 cookies $2.00 per cookie What was real GDP in 2013 using 2013 prices? 2014 Output 200 glasses 90 cookies 2014 Prices $1.00 per glass $2.50 per cookie
Affordability = R74 per week \table[[,Proteas (R10),Roses (R6),Lavender (R2)],[No.,MU,TU,WMU,MU,TU,WMU,MU,TU,W],[1,35,35,,21,21,,12,12,],[2,30,65,,18,39,,10,,],[3,25,90,,15,54,,8,,],[4,20,110,,(b),66,,6,,(c)],[5,15,125,,9,75,,4,,],[6,10,135,,6,81,,2,,],[7,5,(a),,3,84,,0,,],[8,0,140,,(d),84,,-2,,],[9,-5,135,,(e),78,,-4,,]] Which quantities of flowers reflect consumer equilibrium?
If Mercedes builds cars in the United States, is their value counted in U.S. GNP?