Koki's problem:a. A firm named "Koki" operating in pork market (perfectly competitive market) has thefollowing short-run total cost. Fill in the cost table belowQuantity0Total costs (Baht)511021331842556FCVCAVCATCMC3445b. Market's quantity demand for pork is given by the following table:Price (Baht)1110862.5Market's quantity demanded30050080012002500Suppose there are 100 firms in this market (including Koki) that have identical costs to those ofKoki. Find Koki's quantity supplied and the market's quantity supplied at each priceNote: quantity supplied is the quantity that a firm is willing and able produce and sell at a price.Price (Baht) Koki's quantity Supplied1110Market's quantity Supplied862.5c. Based on the answers in b., find the equilibrium price and equilibrium quantity in the marketand how much profits(losses) does Koki make at equilibrium?d. In long run, what will be the market price and market quantity?

Requirement A. To calculate the Fixed Costs (FC), Variable Costs (VC), Average Variable Costs…

Answered: Koki's problem: a. A firm named "Koki"…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Wilbur's is the only septic service in a remote village. The firm's total fixed cost is $150 a day and marginal cost is zero. The table gives the demand schedule for service calls. Price (dollars per service call) 500 400 300 200 100 0 Draw the firm's demand curve. Label it D. Draw the firm's marginal revenue curve. Label it MR. Quantity (service calls per day) 0 2 4 6 8 10 Draw the firm's marginal cost curve. Label it MC. Draw a point at the profit-maximizing price and output. Wilbur's economic profit is $ a day. >>> If the firm incurs an economic loss, indicate the loss with a minus sign. If the firm earns an economic profit, do not include a plus sign. 600 500- 400- 300- 200- 100- 04 Price and cost (dollars per service call) 4 10 Quantity (service calls per day) >>> Draw only the objects specified in the question 0 12
I have answer of first three sub-parts so give me other sub parts answer
QUESTION 5 Price 10 97 8- 7+ 6 3 2 MC ATC AVC Pl P2 P3 P4 + + 1 2 3 1 S 6 7 N Quantity At the price level labeled "P2," what happens in the short-run (SR) and long-run (LR) O SR: This firm will have positive economic profit. LR: Firm(s) enter this market and price decreases. SR: This firm will have positive economic profit. LR: Firm(s) enter this market and price remains the same. SR: This firm will have zero economic profit. LR: Firm(s) enter this market and price decreases. SR: This firm will have zero economic profit. LR: Price remains the same. OSR: This firm will operate with negative profit. LR: Firm(s) exit this market and price remains the same. OSR: This firm will operate with negative profit. LR: Firm(s) exit this market and price rises. OSR: This firm will not operate (shutdown). LR: Firm(s) exit this market and price remains the same. OSR: This firm will not operate (shutdown). LR: Firm(s) exit this market and price rises.
ATC MC Z AVC V. W $13 $10 T $7 $4 N 5 7 9 10 12 144 The graph above shows cost curves of a firm in a competitive market. Several points are marked on the graph to allow tracing curves. Some of them can also be used to indicate various prices. Refer to the graph to answer the following questions: 1. The short-run supply of the firm can be traced by connecting points 2. If the market price is $4 then in the short-run the firm would supply units. At this price the firm would 3. If the market price is $10 then in the short-run the firm would supply units. At this price the firm would 4. If the market price is $7 then in the short-run the firm would supply units. At this price the firm would 5. In the short run, the firm is better off continuing to operate (i.e. Q>0) despite losses if the price is in the interval above and below %24
Explain now
Question 19 Referring to Figure 1 in Question 14. The firm will shut down in the short run if the price of the good is less than $175. O $125. O $100. O $80.
Question 31 2.5 pts The following figure shows the marginal cost curve, average total cost curve, average variable cost curve, and marginal revenue curve for a firm for different levels of output. Price MC ATC AVC F G R MR W 0 A B Quantity At the output level OC, average fixed cost is equal to ○ MC GM GZ ZM 000 о
1) What is total fixed cost at the profit-maximizing quantity? 2) Below what price will the firm shut-down? 3) What are operating losses / profit (If the firm does not shut-down)?
Does a compentve firms price equal its marginal cost in a short run, on the long run or both? Explain, Does a competitive firms price equal the minimum of its average total cost in the short run, in the long run, or both ? Explain
Question 14 Figure 1 Use this figure for questions 14-20. This figure shows costs for a firm in a perfectly competitive market. Price MC 175 ATC AVC 125 100 80 270 322 515 Quantity Referring to Figure 1, suppose the price of the good is $175. If the firm produces and sells 515 units of output, its total revenue is (leave out the dollar sign)
18 Market Representative Firm MC i of A a $7 MR = P ATC b $5 AVC $2 D1 18,000 70 100 115 Quantity (Q) Output (Q) The diagram above shows a Perfectly Competitive market on the left, and a representative firm supplying in that market on the right. In the long run we would expect the market and the Price to Select one: a. existing firms to exit; increase b. new firms to enter; increase С. new firms to enter; decrease d. existing firms to exit; decrease Price $$$
Using the graph below, calculate the firm's profits at the profit maximizing output Price 408 384 360 336 312 288 264 240 216 192 168 144 120 96 72 48 24 0 0 56 112 168 224 280 336 392 448 504 560 616 672 728 784 840 896 Quantity -PMRMC-AC

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