The short run market demand and supply for kente cloth are expressed as follows: demand: P=40-0.25Q suppl: P=5+0.05Q marginal cost: -20+4Q answer the following questiong 1. The equilibrium quantity of kente cloth is ...... metres? 2. The equilibrium price of kente cloth is .... rand? 3. The short run level of output is .... metres?

Q: please sir please solve these questions   29-an addition made to the TC or TVC as output is…

A: 29)The addition made to the Total Cost (TC) or Total Variable Cost (TVC) as output is increased by…

Q: If there were 20 firms in this market, the short-run equilibrium price of titanium would be s per…

A: In perfect competition, a firm maximizes the profit where the price is equal to marginal cost,…

Q: CAREFULLY EXPLAIN WHAT IS HAPPENING IN THE FOLOWING MARKETS. INDICATE THE IMPACT IF ANY ON THE…

A: Answer to the question is as follows:

Q: The handmade snuffbox industry is composed of 100 identical firms each having short-run total costs…

A:

Q: Using the following table, for each price level, calculate the optimal quantity of units for the…

A: Competitive market is a market where there are large number of firms and each firm is competing with…

Q: Doug William, the owner of a corner store, estimates that the supply and demand for a specialized…

A:

Q: Figure 14-7 Graph (a) Graph (b) MC ATC D. Q, a, a, a QUANTITY QUANTITY Refer to Figure 14-7. Assume…

A: Graph a shows equilibrium of a firm in a perfectly competitive market and graph b shows equilibrium…

Q: Price (dollars) ying graph shows the short-run demand and cost situation for a price searcher in a…

A: Profit maximisation is a process that businesses go through to make sure the best levels of output…

Q: What is the marginal cost of producing another unit of output:

A: Marginal cost is the additional cost that a firm incurs by producing one more unit of output. It is…

Q: A leftward shift of a product supply curve might be cause by O An improvement in the relevant…

A: Introduction A supply curve shows the relationship between the cost of a good or service and the…

Q: If there were 10 firms in this market, the short-run equilibrium price of rhodium would be 5 would…

A: Perfect competition is a market consisting of a large number of buyers and sellers. In this market…

Q: Two months after launching the 8 GB iPhone in 2007Applereduced its price from $599 to $399 Unit…

A: Price elasticity of demand The pricing of some items seems to be particularly inelastic, according…

Q: 8. siuppose that the manager of a firm operating in a competitive market has estimated the firm's…

A: (a) Average Variable cost (AVC) is multiplied by the quantity (Q) to get variable cost (VC). Total…

Q: 7. Short-run supply and long-run equilibrium Consider the competitive market for steel. Assume that,…

A: Short-Run Supply: A Production Decision Based on Marginal CostImagine you're a manager at a steel…

Q: A retail chain will buy 700 cordless phones if the price is $40 each and 500 if the price is $50. A…

A: Equilibrium is a fluctuating situation where market adjustment occurs. Pricing is determined by the…

Q: The short-run market demand and supply for Kente cloth are expressed as follows: Demand:P=40-0.25Q…

A: ANS Demand : P = 40 – 0.25Q Supply : P = 5 + 0.05Q Total Revenue (TR) = Price × Quantity demanded.…

Q: Suppose that bicycles are produced by a perfectly competitive, constant-cost industryWhich of the…

A: In case of Constant Cost Industry, supply curve is flat. The long run supply curve is horizontal. It…

Q: Following figure shows the competitive market for platinium and a firm making production in this…

A: The perfect competition is the market structure with large number of buyers and sellers, selling…

Q: 50. What Adam Smith was claiming about the supply process can be translated into modern language as…

A: Based on Adam Smith’s works, the laws of supply (SS) and demand (DD) were formed giving shape to…

Q: a. If the market price is $15, what is the revenue at output equal to 4 units? b. What is the total…

A: In a perfectly competitive market, the firms are price taker. In a competitive market, no single…

Q: ok st nces The following table shows the cost and revenue data for Molly the monopolist. Total…

A: A profit-maximizing firm uses its input efficiently to produce optimal output. The optimal output is…

Q: 4. For production functions i) q = K0.25L0.25, %3D ii) q = K0.5Lº.5. iii) q = KL a) Assume w= $20…

A: *Hi there as you have posted multiple sub parts we will only solve first three following our…

Q: What effect will each of the following have upon the supply of television sets in a competitive…

A: The supply schedule of a good shows how the supply of that good changes when its price changes.…

Q: Suppose the price of bagels in Allentown is currently S0.90 per bagel. There are 10 low-cost…

A:

Q: 1. A firm’s production function is , where Ldenotes the size of the workforce. Find the value of…

A: Suppose the given equation is: Q = 50L - 0.01L2 The formula to find MPL = aQ/ aL  50 - 0.02L2-1 50 -…

Q: - strawberries in the long run for an individual farmer are illustrated in the graph to the right.…

A: Perfect competition is a type of market structure in which there are large number of buyers and…

Q: Consider a major producer of liquid soap. Which of the following would not shift its supply curve of…

A: When there is a change in the supply, the supply curve shifts. A rightward shift in the supply curve…

Q: The table below shows the weekly marginal cost (MC) and average total cost (ATC) for Buddies, a…

A: Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: Starting from an equilibrium condition, consider an increase in income in a perfectly com-petitive…

A: Since you have posted multipart in this question, so as per the guidelines we are allowed to solve…

Q: .Suppose a demand for good produced by a certain industry changes then answer the following…

A: The equilibrium price and quantity of a good are determined by the forces of demand and supply. The…

Q: nanufacturer of hospital supplies has a uniform annual demand for 180,000 boxes of bandages. It…

A: Supply and demand represent the working of a market and the cooperation among providers and…

Q: Which of the following activities would occur in the resource market?   Question 1 options:   A)…

A: The resource market is the market where the purchase of material occurs for further production.