Under perfectly competitive conditions, if a good sells at $100 for a firm whose total costs are $20,000, how much should it produce to achieve normal profits? O a. Exactly 200 units O b. Around 100 units O C. Greater than 200 units Od. More than 500 units

Under perfectly competitive conditions, if a good sells at $100 for a firm whose total costs are $20,000, how much should it produce to achieve normal profits? O a. Exactly 200 units O b. Around 100 units O C. Greater than 200 units Od. More than 500 units

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: 1) "According to the midpoint method, the price elasticity of demand between points A and B is…

Q: 5) A consumer has a fixed weekly budget (B) of $100 to spend on two goods (X and Y). Given unit…

A: “Since you have asked multiple questions, we will solve only one question for you i.e. question…

Q: did you get 0.2Y?

A: The aggregate expenditure is the sum total of consumption, investment, government expenditures.

Q: There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar…

A: With the existence of a transaction cost of $90 which has to be split between the two that is $45…

Q: ities/97507c54-29b3-4b89-bbid-c07ca40b872e/curiosity-feed?section=ef2825d6-34c2-4bae-8d5b-fec67cf632…

A: Tax:Tax is a compulsory payment which is imposed by the government of the country and for the…

Q: What does the total revenue represent?a

A: The income generated from normal commercial activities can be demarcated as revenue.

Q: The South Korean Government in the 1970s decided to follow a strategy of increased investment in…

A: Scarcity refers to the limited availability of resources, that are used to produce goods and…

Q: How does the Overnight Rate Target inuence interest rates throughout the economy? (A) The…

A: The overnight rate basically refers to the interest rate at which a depository institution (usually…

Q: Why people struggled to pay rent and basic utilities during pandemic of COVID-19 even though they…

A: The lockdown during covid-19 has affected the performance of markets around the world. This is due…

Q: Fred gathered data on the price and quantity demanded of chocolate over the course of a week. He…

A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…

Q: 20 18 16 Price 14 12 10 ID: 8. 4 2 20 40 60 80 100 120 140 Quantity

A: Slope of demand curve = dP/dQ Considering points (20, 20); (65, 2): Slope = (2 – 20)/ (65 – 20)…

Q: Consumption/Savings 1400 1200 1000 800 600 400 200 0 -200 200 400 600 800 1000 1200 1400 1600 Income…

A: Let's break down the income and consumption/savings data to understand the financial…

Q: How to calculate Statutory Rate for company

A: The Statutory Rate for a company is imposed by law on income that is taxable and falls within a…

Q: Why is the permit needed for all the agencies?

A: The permits are a different form of license issued by the government to every business in the…

Q: The cost (supply) of each "unit" of NPR (National Public Radio) is P=9. Derek's valuation for each…

A: MC of NPR = 9 Derek's Valuation : Pd = 20 - 2Qd Qd = ( 20 - Pd)/2 Kim's Valuation : Pk = 10 - Qk…

Q: Cars produced each day A specialty-car manufacturer has plants in Auburn, Biloxi, and Chattanooga.…

A: a) Calculating AB: AB = 1210044208912…

Q: A period between date of acquisition and date of disposal by a specific owner. a. Ownership life O…

A: Aquisition date means when the asset is purchased new . And the period between acquisition and…

Q: Price $ 30 28 25 20 15 10 Qd Old 15 16 20 24 25 30 Qd Young 2 3 7 12 18 25 What is the best price to…

A: Revenue is a crucial financial metric that indicates the level of sales or business activity and…

Q: So is it D or B

A: The answer is - B. Revoke the license of an insolvent insurer.

Q: None

A: Willingness to Pay (WTP) is an economic concept that refers to the maximum amount an individual or…

Q: Name: Name: Name: $/unit 25 1 Fertilizing Fish When farmers fertilize their fields, the nitrogen…

A: The objective of the question is to understand the concept of externalities in the market for…

Q: What is land property

A: Land: It refers to the asset of the people. More land with the people shows that are rich. The less…

Q: Question 1.3 only

A: Given that the time period is short-run and we know that in the short-run not all factors of…

Q: do fast don't use chatgpt answer,

A: An indifference curve is a graphical representation of the different combinations of two goods that…

Q: Households B D Firms In which market do households act as the seller? Product Factor of Production…

A: In the economy, households fulfill the roles of both suppliers and consumers. When households sell,…

Question

Under perfectly competitive conditions, if a good sells at $100 for a firm whose total costs are $20,000,
how much should it produce to achieve normal profits?
a. Exactly 200 units
O b. Around 100 units
O C. Greater than 200 units
Od. More than 500 units

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Introduction:

VIEW

Explanation:

VIEW

Step 3

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

How any coffee shop could be CSR?
What is one pkus one
- Student Portal MyCC & CC Ema X 2ECON100C Assignment 1: Attem X i mycc.coquitlamcollege.com/mod/quiz/review.php?attempt-203068&cmid 143217 Harveer Kaur Bran MYCC MyCC Library CC Student Portal English (en) 1.00 Peducton 15 P Flag question 14 ronter 12 6 Coll phones (millons per year) Cell phones (milllons) 3 4 DVDS (millons) 15 14 12 9 5 Possibiity D The figure above shows a production possibilities frontier. In the figure, when the economy moves from point E to point D, what is the opportunity cost of a DVD? Select one: ENG US
Please work these out both parts do not understand
I need help with HW.
The graph shows the market for mugs in which the government has imposed a tax of $4 per mug. Draw a point to show the price paid by buyers and the quantity bought. Draw shapes that represent the following: 1) consumer surplus. Label it CS. 2) producer surplus. Label it PS. 3) the tax revenue received by the government. Label it TR. 4) the deadweight loss created by the tax. Label it DWL. >>> A label can be repositioned by clicking on the edge of the label box and dragging it onto the shape. esc ↑. C Selected: none $ ▸ 0
How do sales taxes typically apply in a business environment?
M1
please do d and e now please
Could you please answer questions d and e.
There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed in the attached table. If the tenants have the right to be free of loud music enforced through a property rule, how many bands will play in Rock‐n‐Roll Bar on a Saturday night? A. Zero B. One C. Two D. Three E. It depends on transaction costs
where did 118.8 come from?