MC10ACAVC8.5-it81-ia....351 5016040 55510QThe above figure shows the cost curves for a typical firm in a competitive market. If p = 10, thenO A. the firm will maximize its profit by producing 60 units.O B. producing 5 or 60 units will yield equal profits.the firm will maximize its profit by producing 5 units.O D. Not enough information.étv20...MacBook AirDII80F4F5F6F7F8F1F2F3@#$%&2345689WEUSDFGHKVNMB

MC 10 AC AVC 8.5- 4 351 5060 40 55 510 Q The above figure shows the cost curves for a typical firm in a competitive market. If p = 10, then O A. the firm will maximize its profit by producing 60 units. B. producing 5 or 60 units will yield equal profits. C. the firm will maximize its profit by producing 5 units. D. Not enough information. P. O O O O

MC 10 AC AVC 8.5- 4 351 5060 40 55 510 Q The above figure shows the cost curves for a typical firm in a competitive market. If p = 10, then O A. the firm will maximize its profit by producing 60 units. B. producing 5 or 60 units will yield equal profits. C. the firm will maximize its profit by producing 5 units. D. Not enough information. P. O O O O

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Price and costs (dollars) 20 16 12 8 4 0 5 10 MC ATC 20 15 Quantity (per day) The figure above shows short-run cost curves for a perfectly competitive firm. If the price of the product is $8, in the short run the firm will Select one: O a. incur an economic loss O b. earn an economic profit O c. earn a normal profit O d. None of the provided answers is correct because more information is needed to determine the firm's profit or loss
$150 $145 $140 MC $135 $130 $125 $120 $115 ATC $110 $105 $100 $95 $90 $85 $80 AVC $75 $70 $65 $60 $55 $50 $45 $40 $35 $30 $25 0 1 2 3 5 6 Quantity Produced 7 8 9 10 11 The graph above shows the cost functions for a perfectly competitive profit maximizing firm. If the market price of the product is $70 per unit, the firm will produce units, will cover make an economic profit of dollars. dollars of its fixed cost, and will
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Please see attachment and type out the correct answer within 40 to 50 minutes n give proper explanation of each n every option . Will give you thumbs up only for the correct answer.thank you
Refer to the diagram to the right which shows the cost and demand curves for a profit-maximizing firm in a perfectly competitive market. What is the amount of its total fixed cost? OA. $1,000 B. $1,440 OC. $2,520 OD. It cannot be determined. Price and cost (5) 40.50 36.00 30.00 28.00 130 180 Quantity MC 240 ATC AVC MR
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Question 8 Use the cost chart: Assuming this firm competes in a perfectly competitive market. What is the profit (or loss, loss is a negative) when the price is $1.60. Cost Chart Q 0 5 10 15 20 25 30 35 40 Typed answer will be automatically saved. X₂ X² Ω· FC 10 10 10 10 10 10 10 10 10 Write your response here... VC Twos 0 3 7 12 18 25 33 42 52 TC 10 13 17 225755 28 35 43 62 AFC 0.67 0.29 AVC 0.60 0.70 0.90 1.00 1.10 ATC 2.60 1.47 1.43 1.49 MC 1.00 1.80 □
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Mark all the correct results for perfect competition 8 correct 5 incorrect O in long run P is at the break even point O in the long run there is Productive efficiency OP- MR O MR = MC O in lông run P = ATC O P- MC OP> MC O there is not Productive efficiency O there is Allocative efficiency O P> MR O long run profits = 0 O in the long run positive economic profits is possible O there is not Allocative efficiency
$1q1 , MC 15 AC 11 10 AVC 40 The above figure shows the cost curves for a competitive firm. If the market price is $15 per unit, the firm will earn profits of O A. $4. O B. $160. OC. $40. 60468 20 tv MacBook Air 80 DII F3 F4 F6 F10 2# $ & 3 4 5 6 8 9 E T Y P G H J K C V command .. .- * 00 B R
Enter your answer as a whole number. If you are entering a negative number include a minus sign. a. To maximize its profits, the firm should produce units and charge a price of $ . b. At the profit-maximizing level of output, average total cost per unit is $ . c. At its profit-maximizing level, profits are $ .