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- revenue MC AC 10 AR=MR=DD AVC 8 5 3 Quantity 20 25 Answer the questions based on Figure 2 above. (d) What is the market structure faced by this firm? (e) What is the equilibrium price and quantity? (f) Does the firm make a profit or a loss? What is the value? (g) Assume that the economic downturn causes a decline in the price of goods. What are the conditions of closing the factory where the firm will stop production? (h) What is the price level at the factory closing point?Question 4 The following information on demand, revenue and costs of a car maker: Demand: P = 1000 – 5Q Total Revenue: TR = 1000Q – 5Q? Marginal Revenue: MR = 1000 – 10Q Marginal Cost: MC = 200 + 10Q where Q is the number of copies sold and P is the price. a) Find the price/quantity combination that maximises the firm's profit. b) Find the price/quantity combination that would maximise total revenue. What is the maximum total revenue? c) Draw demand, marginal revenue, and marginal cost curves on a graph. d) Calculate the consumer surplus assuming the car maker maximises its revenue. Highlight the consumer surplus on the graph in part (c).(Figure 10-3)What is the maximum economic profit this firm depicted in Figure 10-3 will be able to earn? Group of answer choices $600 $200 $400 $0
- Find the attached file.Hotel Nemo is the only under-sea hotel in the nation. The table sets out the demand schedule for hotel rooms and the cost schedule for running the hotel. Calculate Hotel Nemo's profit-maximizing price, output and economic profit if it charges a single price for all rooms. Hotel Nemo's profit-maximizing output is Hotel Nemo's profit-maximizing price is >>> Answer to 2 decimal places. rooms a night. a room. When Hotel Nemo produces the profit-maximizing output and charges the profit-maximizing price, economic profit is s >>> If the firm incurs an economic loss, indicate the loss with a minus sign. If the firm eams an economic profit, do not include a plus sign. Price (dollars per room) 272722NO 30 24 21 18 » 15 12 9 6 Quantity (rooms per night) 0 100 200 300 400 500 600 700 800 Total cost (dollars per night) 1,000 1,900 2,800 3,700 4,600 5,500 6,400 7,300 8,200Price Qs (Total Mkt) Qa (Total Mkt) $360 2000 800 290 1800 1000 230 1600 1200 200 1400 1400 140 1200 1600 110 1000 1800 80 800 2000 #1. What will equilibrium price be? # 2. What will equilibrium output be for each firm? # 3. What will the profit or loss be for each firm at equilibrium? # 4. Will firms enter or exit this industry in the long run? Blank # 1. A
- Price (dollars per jacket) 888888 180 160 140 120 100 60 40 20 0 80 160 MC profit; $13,000 profit; $7,200 Oloss; $8,000 In the figure above, Gap's economic loss: $13,000 ATC The figure shows the demand curve for Gap jackets (D), and Gap's marginal revenue curve (MR), marginal cost curve (MC), and average total cost curve (ATC). MR 240 320 400 Quantity (jackets per day)6 Carefully read the case given below, critically analyze it and answer the questions that follow: ABC Electronics Limited, operating in Kathmandu Valley has the following demand and cost functions, P= 2000 - 10Q. TC = 1000 + 200Q, where Q= output in units, P = Price in Rs If the company wanted to maximize profit, what is the price-output combination and total profit and revenue? The management of the company realizes the need for capturing market. Therefore, it started to promote its product with the strategy of sales- revenue maximization instead of profit maximization What will be the price output combination, total profit and maximum TR under the condition of sales- revenue maximization?Consider the following short-run data for a perfect competitor. Use the data to answer the following questions. Justify your answers and calculations. Quantity Demanded Price TC TVC MC 0 22 150 - 1 20 2 15 3 22 4 34 5 54 6 78 d) What is the profit maximizing level of output for this producer? e) Calculate profits or losses at all levels of output.
- 8. Total revenue from the sale of X is given by the equation R=100Q-2Q2. Calculate the value of of marginal revenue when the point price elasticity of demand when marginal revenue=20|Price Demanded Revenue Revenue Marginal Cost Cost $24 1000 $24,000 ** $15,000 ** ** ** $22 1250 $27,500 $14 $17,000 $8 $20 1500 $10 $19,500 $10 $18 1750 $31,500 Y $23,000 $14 $16 2000 $32,000 $2 $27,000 Z (a) Calculate total revenue at X. (b) Calculate marginal revenue at Y. (c) Calculate marginal cost at Z. (d) Find the profit maximizing price. (e) Find the profit maximizing quantity. (f) Find the profit the firm will earn.You must have to submit the correct answer. If price is $25 when the price elasticity of demand is -0.5, then marginal revenue must be: Answer $25 -$25 $12.50 $37.50 $50