The two figures below show (on the left) the industry supply and demand for wheat and (on the right) the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) for a single firm operating in the wheat market. Price per bushel (S) 925 0 a. The industry 0 b. A representative firm MC ATC AVC 10 12 13 15 Bushels of wheat Bushels of wheat Suppose the demand for wheat is D2 as depicted in the figure above. A profit-maximizing firm will produce O a. 15; $30 O b. 13; $91 O c. 7; $0 O d. 13; $0 units and earn a profit of.

3. Johnny Rockabilly has just finished recording his latest CD. His record company's marketing department determines that the demand for the CD is as follows: Price Number of CDs $24 10 000 22 20 000 20 20 30 000 18 40 000 16 50 000 14 60 000 The company can produce the CD with no fixed cost and a variable cost of $5 per CD. a. Find total revenue for quantity equal to 10 000, 20 000, and so on. What is the marginal revenue for each 10 000 increase in the quantity sold? b. What quantity of CDs would maximize profit? What would be the price? What would be the profit? c. If you were Johnny's agent, what recording fee would you advise Johnny to demand from the record company? Why?

8. Refer to the information in the table below to answer the following questions: TVC €0 10 15 Quantity of fruit baskets 0 1 2 3 4 5 6 TFC €50 50 50 50 50 50 50 21 31 46 68 TC MC -- 10 5 6 10 15 22 a) The firm sells fruit baskets in a perfectly competitive market. Calculate the firm's total cost for each level of production and complete the table. b) Assume that the market price of a fruit basket is €15. To maximize profit, how many fruit baskets should the firm sell? c) At the profit-maximizing quantity, what is the profit?

Please don't give wrong answees

need help graphing and finding mc

Hand written solution is not allowed

Suppose that bicycles are produced by a perfectly competitive, constant-cost industryWhich of the following will have a larger effect the long-run price of bicycles: a government program to advertise the health benefits of bicyclingor (2) a government program increases the demand for steel, an input in the manufacture of bicycles that is produced in an increasing cost industry ? O. Option 1: shifts the demand curve out and increases the price. O. Option 2: shifts the supply curve up and increases the price O. Option 2: it shifts the demand curve up and increases the quantity. O. Option 2: shifts the supply curve up and increases the quantity.

Give type answer

D, E nad F

3