Suppose a firm has the following cost: Output (units): 10 11 12 13 14 15 16 17 18 19 Total cost:        $50 $52 $56 $62 $70 $80 $92 $106 $122 $140 a. If the prevailing market price is $14 per unit, how much should the firm produce? b. How much profit will it earn at the output rate? c. If it increases output by 2 units, will it make more profit or less?

Q: Suppose that the firm with the costs and revenues shown in the graph below is contemplating whether…

A: A perfectly competitive firm is known as a price taker because the strain of competing firms forces…

Q: If the price of the good is 0.70$ And the firm is producing 100 units what would the profit be -10 5…

A: Marginal cost alludes to the extra expense to produce each extra unit. Average total cost is the…

Q: 22) Ace Shoe Company sells heel replacement kits for men's shoes. It has fixed costs of $6 million…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: a) At what output is the firm’s profit maximised and  How much profit is made at this output?    (b)…

A: 1) Profit = TR -TC  Higher the gap between total revenue and total cost, higher will be the profits.…

Q: How much profit or loss does the firm make at the selected output level?

A: The additional cost incurred in the manufacturing of one more unit of a good or service is known as…

Q: Total Cost Variable Cost Quantity (dollars) (dollars) $800 $0 100 1,260 200 1,660 300 2,560 400…

A: In a perfectly competitive market, firms produce identical goods. Price is constant and equal to…

Q: 6. The marginal cost for Product Y is MC = 10 + 2Q. The market price for Product Y is $50. How many…

A: Given: MC=10+2Q Price= $50 Since price is constant at $50 and there is no other factor influencing…

Q: Output AFC AVC ATC MC 1 300 100 400 100 2 150 75 225 50 3 100 70 170 60 4 75…

A: Calculate the per-unit economic profit, when the product price is $179 GivenAverage total cost =…

Q: which of the following statement is true? (choose one letter only) a. the Marginal Revenue is the…

A: Marginal revenue and marginal cost are basis of profit maximisation.

Q: Suppose a competitive firm has the following cost: output(units): 10     11      12  13    14    15…

A: The table showing output and cost is as follows:

Q: The diagram shows the price, marginal cost and average cost curves facing a perfectly competitive…

A: ​We know that, in the short run, for a perfectly competitive firm, the profit-maximizing output (Q)…

Q: Suppose a firm has the following costs: Outputs (Units) 10 11 12 13 14 15 16 17 18 19 Total Cost…

A: Marginal cost is the additional cost that arises due to the production of one more unit of output.

Q: Should a firm shut down if its revenues is TR = $1,500 per week and:   a. its variable cost is TVC =…

A: Shut down: It refers to a position of a firm when variable cost greater than the revenue earned.…

Q: Your product's revenue per unit is $30, and product's cost per unit is $10. If the demand for next…

A: Given information: Per unit revenue (selling price): $30 Per unit cost (variable cost): $10 Demand…

Q: A firm faces the following demand and total cost schedules, with all quantities listed on a…

A: Total cost describes the amount of FC and VC incurred by a firm in the production of products or…

Q: 7. Assume that the marginal cost curve is given by mc(q) = 100 + 2q. (a) If the price is $160, what…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Suppose a competitive firm has the following cost: output(units): 10     11      12  13    14    15…

A: The table showing output and cost is as follows:

Q: Revenue and cost (dollars per unit) 50 40 30 20 10 0 10 20 MC ATC AVC 30 40 50 Output (units per…

A: In perfect competition,  There exists a large number of buyers and sellers.  The firm maximize it's…

Q: On the graph input tool, change the number found in the Quantity Demanded field to determine the…

A: Demand: Demand for a commodity can be defined as the desire and willingness of a consumer to acquire…

Q: $ per unit $40 $20 2 4 6 8 10 MC 12 ATC MR AVC Output (q) The graph above shows a firm's Marginal…

A: In perfect competition,  There exists a large no. of buyers and sellers.  The firm will maximize…

Q: Calculate this firm’s marginal cost for output level 5. (b) Calculate this firm’s marginal cost for…

A: DISCLAIMER  “Since you have asked multiple question, we will solve the first three subparts question…

Q: Assume a competitive firm faces a market price of ​$120​, a cost curve​ of:   C​ = 13q3 + 20q +…

A: We have, Market price =  ​$120​ cost curve​ of: C​ = 13q3 + 20q + 500​, The marginal cost​ of: MC =…

Q: Suppose a competitive firm has the following cost: output(units): 10     11      12  13    14    15…

A: The table showing output and cost is as follows:

Q: Q10 needed Q8 pic is just for reference Question 10 Refer to Table 5-1 and the firm in Question 8,…

A: In perfect competition, eqm Q(quantity) is found by the intersection of MC(marginal cost) and…

Q: Output Variable Total AFC AVC ATC Marginal Price Cost Cost 300 350 410 500 630 1 2 ی | ساداس 3 4 5 6…

A: Output Variable Cost Total Cost AFC AVC ATC MC Price TR MR 1 100 300         180     2 150 350…