Q: When output increase then difference be- tween TVC and TC
A: # We must first know that the total cost of the firm is the sum of variable and the fixed costs.…
Q: Question 2 For each of the events describe below, you are required to explain: 1. The market you are…
A:
Q: QUESTION 14 Consider the market for PlayStation video games. Ceteris paribus, what effect will a…
A: Note: You have uploaded two questions at a time. Hence, we shall solve only the first one for you.…
Q: S If the price of oats is $3.0 per kilo, calculate the total revenue and the total profit (or loss)…
A: Given information, Price of oats = $3.0 per kilo.
Q: QUESTION 8 If your total profit is 8000 dirhams and your total revenue is 10000 dirhams. How much is…
A: Costs refers to the expenses that incur in the process of production of goods or services. There are…
Q: What do you mean by product variation?
A: # In markets such as oligopoly and monopolistic competition where there is high competition, in such…
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: Which software should you purchase in order to save money in the long run, X or M? Not Satisfied…
A: Given:- Two Softwares X and M with their values being $6000 and $12000. To determine:- which…
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: Morgan took $400 000 out of their savings account to start an ice cream stand. The savings account…
A: Given:Implicit cost:=4,00,000*5%=$20,000Explicit cost=Incurred cost=$12,000Total…
Q: Products with attributes that are significantly different from each other, which makes it difficult…
A: Product differentiation is the process which make a good different from the similar competition good…
Q: Quantity of Gift Boxes TC ($) ATC ($) 55.00 11.00 10 57.50 5.75 15 4.17 20 72.50 25 92.50 3.70 30…
A: TC (at Q=15) = ATC15 * 15 = 4.17*15 = $62.55 ATC(at Q=20)=TC20/Q20 = 72.50/20 = $3.63 MC(at 10th…
Q: (a)Identify this firm's profit-maximizing rate of output. (b) how many frisbees are being sold? (c)…
A: (a) The firm maximize its profit when market price is equal to marginal cost (P=MC). The equilibrium…
Q: Good x Refer to the diagram above. The budget line shift which moves the consumer's equilibrium…
A: Given The budget line shifted from BC to AC. Due to this consumer's optimal position is to move…
Q: The value of Total revenue is $400 and the average revenue is $40 Calculate the output
A: # if we are given the value of total revenue and average revenue then we can easily calculate the…
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: Calculate Total revenue if average revenue is $15 and output is 1000
A: The information being given is:- Average revenue = $15 Output = 1000 We have to calculate the total…
Q: A dairy business jointly produces butter and cheese from a "fixed" amount of milk as shown in the…
A: Economic profit:The economic profit is calculated by subtracting all cost that is incurred in an…
Q: Suppose for a single firm that P = 15 TC = 3Q + 2Q2 (a) What is the profit-maximizing quantity?…
A: Profit maximization in economics happens when the difference between total revenue (TR) and total…
Q: in the month of January a car dealership bought its vehicles for $100,000 and sold them for $145,000…
A: The profit a firm makes from its main business operations is measured in terms of gross profit,…
Q: Bonus Question 4 ( A firm makes three products, in quantities X, Y and Z. It wishes to maximize its…
A: Here we are given the profit function which is equals to (Total Revenue - Total cost). As the firm…
Q: ._______ A person or organization purchasing a franchise.
A: Franchise may be a business whereby the owner licenses its operations—along with its product,…
Q: If your total profit is 8000 dirhams and your total revenue is 10000 dirhams. How much is your total…
A: Marginal cost is the cost of production incurred for each additional output generated. It can be…
Q: An enterprise has annual fixed costs of $375,000 and a variable cost of $4 per unit of product. The…
A: An enterprise has an annual fixed cost of $375,000.The variable cost is $4 per unit of product. The…
Q: A. NNP minus income taxes. 3. GNP plus depreciation. C. GDP minus sales taxes.
A: National income is the complete worth a country's last result of every new products and services…
Q: Number of Consumers Who Try the Product 10 million 10 million Number of Repeat Customers Profit per…
A: Advertisement costs refer to the costs incurred by a firm in spreading awareness about the commodity…
Q: The economic profit is $3000, Total revenue is $5000, explicit cost is $800 Calculate implicit…
A: The information being given is:- Economic profit = $3000 Total revenue = $5000 Explicit cost = $800…
Q: 1) DISCUSS THE COMPARISON BETWEEN 2 COMPANIES WHO RUN THEIR GIG ECONOMY
A: Gig Economy is that economy in which mostly hiring are done for temporarily or for short-run…
Q: PFEP
A: A Perfect Foresight Equilibrium Path (PFEP) refers to a hypothetical trajectory of monetary…
Q: 2. The relationship between price and demand per month for a consumer product is p = 3500 -1.1D1S…
A: Here, demand curve is given as: P=3500-1.1D1.5 Fixed cost: $300 per month Variable cost: $4 per…
Q: The profit function for a certain commodity is P(x) - 190x - x - 1000. Find the level of production…
A: In the production function, different inputs are used to produce the final output. Each input has…
Q: The total profit from the sale of q sweatshirts is: P(q) = 5q – 0.005q2 – 450. a. Calculate the…
A: Total Profit earned by a firm is calculated by deducting total cost incurred by a firm from the…
Q: 2. A company produces and sells a consumer product and is able to control the demand for the product…
A: The approximate relationship between price and demand is:-…
The share in the company’s profit is called _____________.
Step by step
Solved in 2 steps
- in which of the following statement is true? (choose one letter only) a. the Marginal Revenue is the approximate revenue from the production and sale of the x+1 unit after x units have been sold.b. the Marginal Cost is the approximate cost of producing the x−1 unit before x units have been produced. c. the Marginal Profit is the profit from the production and sale of the xth unit. d. All of these e. none of the abovein the month of Janaury a car dealership bought its vehicles for $100.000 and sold them for $145,000 It pays its employees $20,000 for the month. What is the gross profit for January? Ⓒ$45.000 Ⓒ$25.000 $100.000 $145.000Suppose for a single firm thatP = 15TC = 3Q + 2Q2 (a) What is the profit-maximizing quantity? (b) What is the profit at the profit-maximizing quantity? Only typed Answer
- QUESTION 20 If your total profit is 8000 dirhams and your total revenue is 10000 dirhams. How much is your total cost?for this graph answer the following question what is the total revenue? what is the total profit? what is the maximun point?Letters are used to represent the terms used to answer this question: price(P),quantity of output(Q),total cost(TC)and average total cost(ATC).Which of the following equations is equal to a firm's average profit? A. (P −ATC) × Q B. P−ATC C. (P×Q)−TC D. P−TC
- Only typed answer What is the price is equal to the minimum average cost of ?Refer to Figure 14-10. When market price is P1, which area represents a profit- maximizing firm’s total profit or loss? a.(P2 –P1)×Q2;profit b.(P2 –P1)×Q1;loss c.(P3 –P1)×Q2;loss d.(P3 –P1)×Q1;profit50 MC ATC 30 MR 10 10 20 30 40 Quantity (per day) How much profit or loss does the firm make at the selected output level? 40 20 Price and costs (dollars)
- Student Resources Working at Clayton.... 3/3 practice Gigantic Pharmaceutical Corporation has a patent on a prescription drug, making it the only manufacturer of that prescription drug. Gigantic is currently earning a positive economic profit. (a) Draw a correctly labeled graph for Gigantic and show each of the following. (i) The profit-maximizing quantity, labeled QG (ii) The profit-maximizing price, labeled PG (iii) The average total cost curve, labeled ATC (iv) The area representing the consumer surplus, shaded completely (b) Suppose the demand for the prescription drug increases, and Gigantic hires its warehouse workers in a perfectly competitive labor market. (i) What will happen to Gigantic's demand for warehouse workers? Explain. (ii) What will happen to the wage rate Gigantic pays its warehouse workers and the number of warehouse workers it hires? (c) After Gigantic's patent expires, another firm enters the prescription drug market and produces an identical drug that sells for…The blue curve on the following graph represents the demand curve facing a firm that can set its own prices. Use the graph input tool to help you answer the following questions. You will not be scored on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per unit) 100 TOTAL REVENUE (Dollars) 90 80 20 10 0 1250 1125 1000 875 750 625 500 On the previous graph, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 10, 20, 25, 30, 40, or 50 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. 375 250 125 + 0 0 0 Demand 5 10 15 20 25 30 35 40 45 50 QUANTITY (Units) + 5 20 10 15 25 30 35 QUANTITY (Number of units) 40 Graph Input Tool Market for Goods 45 50 Quantity Demanded (Units)…Advanced Math
