Isabella grows pumpkins. Her average variable cost (AVC), average total cost (ATC), and marginal cost (MC) of production are illustrated in the figure to the right. Assume the market for pumpkins is perfectly competitive and that the market price is $5.00 per box. How many pumpkins should Isabella grow? Isabella should produce integer value.) thousand boxes of pumpkins. (Enter your response as an Price ($ per box) 10.00- MG ATC AVC 9.00- a 8.00- G 7.00- 6.00- 5.00- 4.00- 3.00- 2.00- 1.00- 0.00- 0 2 3 5 6. Quantity (boxes in thousands)

What is the profit maximizing level of output and how much daily profit will the producer below earn if the price of pizza is $0.50 per slice? See the attachment for graph.

The following graph plots the marginal cost (MC) curve, average total cost (ATC) curve, and average variable cost (AVC) curve for a firm operating in the competitive market for sun lamps. COSTS (Della) 72 04 8 56 24 16 . 0 Price (Dollars per lamp) MOD 8 12 36 48 60 10 ATC AVC 40 00 QUANTITY (Thousands of lamps) For every price level given in the following table, use the graph to determine the profit-maximizing quantity of lamps for the firm. Further, select whether the firm will choose to produce, shut down, or be indifferent between the two in the short run. (Assume that when price exactly equals average variable cost, the firm is indifferent between producing zero lamps and the profit-maximizing quantity of lamps.) Lastly, determine whether the firm will earn a profit, incur a loss, or break even at each price. Quantity (Lamps) ? Produce or Shut Down? Profit or Loss?

Happy Go Lucky Electric Company is the only company providing electric power to the city of Go Lucky. The accompanying graph depicts their marginal costs (MC), total costs (ATC), demand (D), and marginal average t revenue (MR). Move point E to the firm's profit maximizing price and quantity. At the profit maximizing point, what is Happy Go Lucky level of profit? 0 $150 $90 -$30 Price and Costs ($/unit) 10 9 8 7 6 10 4 3 2 1 0 0 5 10 15 20 25 30 35 MR MC 0 ATC D 40 45 50

The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell one widget at the following prices: $18, $14, $12, $6, and $3 (one seller at each price). Five buyers are willing to buy one widget at the following prices: $12, $14, $18, $28, and $34 (one buyer at each price). For each price shown in the following table, use the given information to enter the quantity demanded and quantity supplied. Quantity Demanded Quantity Supplied (widgets) (widgets) Price ($ per widget) $3 $6 $12 $14 $18 $28 $34 In this market, the equilibrium price will be per widget, and the equilibrium quantity will be 4 5 0 3 1 2 widgets.

The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell one widget at the following prices: $26, $14, $10, $5, and $3 (one seller at each price). Five buyers are willing to buy one widget at the following prices: $10, $14, $26, $34, and $42 (one buyer at each price). For each price shown in the following table, use the given information to enter the quantity demanded and quantity supplied. Price Quantity Demanded Quantity Supplied ($ per widget) (widgets) (widgets) $3 $5 $10 $14 $26 $34 $42 In this market, the equilibrium price will be per widget, and the equilibrium quantity will be widgets.

Marcy owns a photography business in Mobile, Alabama. The market for photography is very competitive. At Marcy's current production level, her marginal cost is $20 and her marginal revenue is $28. In order to maximize profits, Marcy should decrease the price. decrease production. keep production the same. increase the price. increase production.

A new French law is forcing industry giants to donate or recycle unsold goods that they would have otherwise destroyed. Apparel companies, from elite fashion houses to mass-market chains, are saddled with an inventory glut following months long closures during the pandemic. Now, they are trying to get rid of the excess without angering waste-conscious consumers—or harming their brands, reports The Wall Street Journal (Aug. 14. 2020).  (Links to an external site.) In the U.S., brands and retailers locked out of an entire fashion season are flooding charities with unsold products, in addition to sending goods to discount stores and liquidators. Good360, a nonprofit that collects excess merchandise and distributes it to charities, expects more than $660 million in donations for the entire year, double what it received last year. “Brands don’t want their unsold products winding up at flea markets or on Craigslist,” said the CEO of Good360. LVMH—which owns Louis Vuitton, Dior and other…

The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell one widget at the following prices: $30, $20, $10, $5, and $3 (one seller at each price). Five buyers are willing to buy one widget at the following prices: $10, $20, $30, $38, and $44 (one buyer at each price). For each price shown in the following table, use the given information to enter the quantity demanded and quantity supplied. Quantity Demanded Quantity Supplied (widgets) Price ($ per widget) $3 $5 $10 $20 $30 $38 $44 (widgets)

Draw a point to show the quantity of pizza supplied when the market price equals minimum average variable cost and​ Pat's continues to produce pizza. Draw a point to show the quantity of pizza supplied when the market price is​ $14 a pizza. Draw​ Pat's supply​ curve: Label the part at which Pat supplies zero pizza S0 and label the part at which​ Pat's supplies some pizza S1.