Solve all this question......you will not solve all questions then I will give you down?? upvote... 11)What will be the short-run profit of this firm?a. $380O b. $360c. $250d. $230O e. $8012) What will be the long-run profit of this firm?a. $380b. $360c. $250d. $230e. $80 Use the following information to answer questions 11 + 12.A monopolist faces the prices and variable costs shown in the table below. They also have fixedcosts of $100.Output Price Total Variable Cost01234567$300 $0$280 $100$270 $190$250 $270$200 $340$150 $420$100 $510$50 $610

A market structure known as a monopolistic market occurs when one company or provider controls the…

Answered: What will be the short-run profit of…

What will be the short-run profit of this firm? a. $380 Ob. $360 O c. $250 O d. $230 O e. $80 12) What will be the long-run profit of this firm? a. $380 b. $360 c. $250 d. $230 e. $80

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: Detail two cognitive biases , what are own examples of these biases. How do these rules of thumb…

A: The two cognitive biases are :Anchoring bias andConfirmation biasAnchoring bias is the tendency to…

Q: 1. PERFECT COMPLEMENTS Marna is knitting scarves for holiday gifts. Each scarf requires red and…

A: Given that:U(R,G) = min{R,2G} Since it is a minimum function, it means that R and G are perfect…

Q: A recent newspaper circular advertised the following special on tires: "Buy three, get the fourth…

A: Budget set is the area that contains all of the consumer's manageable allotments. It is built on the…

Q: "Uber eats usually has a promotion in which, if a customer orders more than $30 worth of food at a…

A: Given information Uber eats has promotional activity and by this activity customers are offered to…

Q: 24. Which type of cognitive model is often used in Gabrieli's research? a) Computational - b)…

A: John Gabrieli uses neuroanatomical models in most of his investigations to understand the brain's…

Q: How Fast to Sail? The margin principle can increase the level of an activity as long as its marginal…

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

Q: A Fun-Size bag of M&M's contains 4 green, 3 red, 2 yellow, 3 orange, 4 blue, and 2 brown candies.…

A: Introduction: Probability is the state of being able to do something. It's a field of mathematics…

Q: I know Sarah said Spider-Man: No Way Home was just okay... But I think she's wrong and plan to see…

A: Introduction Its answer is c) false analogy because here she has given false analogy to go to see…

Q: A local college is deciding whether to conduct a campus beautification initiative that would involve…

A: Willingness -to-pay: The maximum amount of money an individual is willing to spend or pay for a…

Q: Describe three ways in which human decision making differ from the rational individual conventional…

A: The conventional economic theory assumes that an individual always make rational decisions. On the…

Q: 18. Why could experiments be used to solve the endogeneity problem?

A: In econometrics, endogeneity broadly refers to cases in which the error term is associated with an…

Q: Solve all questions compulsory .....you will not solve all questions then I will give you down…

A: Detailed explanation:To determine the combination of beer (B) and hotdogs (D) that maximizes Sam's…

Q: A budget constraint model differs from production possibilities model in that, typically O only the…

A: The production possibility curve shows the best combination of two goods that can be produced with…

Q: Consider the table. What is the opportunity cost of changing from Choice B to Choice C? Choice A B с…

A: The opportunity cost is the cost of next best alternate. The opportunity cost is the opportunity…

Q: Which of the following is one of the four economic ginciples of individual decision making? O…

A: Economic principles refers to basic bits of insight or regulations that give a system to grasp how…

Q: Why would a hotel stay open during a slow month when it seems like the revenue from so few customers…

A: Variable cost of production refers to the cost of operating a business such as labour cost, raw…

Q: Which of the following is NOT the way you can understand interaction effects? a. by graphing the…

A: Interaction When a research design involves two or more independent variables, there is more to…

Q: Describe 3 ways in which human decision differs from the rational individual conventional economic…

A: The behavioural economics is the subfield of economics that integrates the insight of psychology…

Q: hat is the impact of covid 19 on socioeconomic

A: It can be defined as the concept which helps to examine the social and economic factors that are…

Q: If coupon clipping is so rewarding, why doesn't everyone do it? According to basic economic theory,…

A: Coupon clipping is referred to as a practice of finding discounts on consumer goods such as…

Q: What are transaction costs? How does opportunistic behavior tend to increase transaction cost?

A: Cost: It refers to the goods and services price that is charged by the producer. The more the cost…

Q: 14. What assumption is important in using economic model to make predicitons? a) the law of demand…

A: An economic model is a simple version of reality that allows us to observe, understand and make…

Q: Stan is a comic book artist. In a year's work Stan could write 50 comic books or help producing 2…

Q: Aphria Corporation, a cannabis producer, is producing 35 units of output. Aphria Corporation is…

A: Given, Aphria Corporation • Output produced, Y = 35 units; which is sold in a perfectly…

Q: Which of the following facts could not be explained by path-dependence? (choose one) A) Sue lives…

A: Path dependence is when the decisions presented to people are dependent on previous decisions or…

Q: Suppose I am sitting in a football stadium watching my team win a game by a lot of points late in…

A: Opportunity cost is the sacrifice of benefit that is received from the next best alternative that is…

Q: concept Question 1.4 Suppose a student is trying to decide whether or not to take another economics…

A: Economics is the branch of social science which is concerned with how individuals and organisations…

Q: Why would a rational producer not produce in the stage three of the production stages? Use…

A: Production: It involves consolidating different material data sources and unimportant data sources…

Q: John and Karl can live together in a two-bedroom apartment for $900 per month, or each can rent a…

A: The following question is based on preferences and indifference relation, In this question John and…

Q: Question Which scenario is not an example of marginal decision-making? Select the correct answer…

A: Differentiating which scenario does not pertain to an illustration of marginal decision-making is…

Q: According to the rational choice model which of these two events should be valued more by rational…

A: We can see that the price of both mugs is same which is $10. But we should keep it mind that a mug…

Q: Which one of the following statements is incorrect? a) Choice always involves sacrifice. b) Choice…

A: Opportunity cost is the value of next best alternative if resources were invested elsewhere.

Q: 5. Briefly explain the steps of decision making

A: Steps of decision making 1)Research should be done on a particular aspect,regarding which;decision…

Q: Attempts Average / 1 6. Scarcity, opportunity cost, and marginal analysis Darnell is training for a…

A: In economics, people face a tradeoff when selecting an alternative. This means when they have one…

Q: BASKETS 30 25 20 15 O 10 5 0 0 + 1 2 3 4 TEA TOWELS 5 6 7 8 o Initial PPF A New PPF Suppose Crystal…

A: Opportunity cost is the cost of producing good in terms of other good. Opportunity cost shows the…

Q: Clancy is skilled at making both bracelets and necklaces. Clancy has no preference between making…

A: Opportunity cost is the profit foregone that the agent would have done if she weren't doing the…

Q: What do we mean by Incentive? Example…

A: Incentives can be defined as anything that can be used to attract a worker and motivates the worker…

Q: 1) How does the concept of scarcity fit into an understanding of economics? How does it relate to…

A: Scarcity refers to the finiteness of a resource, commodity, or capital that has the ability to…

Q: Juanita is deciding whether to buy a suit that she wants, as well as where to buy it. Three stores…

A: Given information Juanita makes $16 per hour at work. She wants to buy a suit, for that she has to…

Q: A local college is deciding whether to conduct a campus beautification initiative that would involve…

A: A public good is a type of good that is nonrivalorous and non excusable.Nonrivalrous: Consumption of…

Q: 3. Which point is much better?* O A, B,D, & F О A&B OE O C O A&D E Good X

A: The production possibility curve depicts various pairings of two items that can be produced in the…

Concept explainers

Profit Maximization

Economic activity is related to the use of scarce resources of the economy that are used for producing goods and services which are required to satisfy various demands of the people. In other words, it can be said that it is all about satisfying the unlimited demands of individuals with the limited resources available. The production decision is taken by the producers or the firms. In economics, the terms ‘producers’, ‘suppliers’, and ‘firms’ are interchangeable. Now the question arises, what does a firm actually mean?

Question

Solve all this question......you will not solve all questions then I will give you down?? upvote...

11)
What will be the short-run profit of this firm?
a. $380
O b. $360
c. $250
d. $230
O e. $80
12) What will be the long-run profit of this firm?
a. $380
b. $360
c. $250
d. $230
e. $80

Use the following information to answer questions 11 + 12.
A monopolist faces the prices and variable costs shown in the table below. They also have fixed
costs of $100.
Output Price Total Variable Cost
0
1
2
3
4
5
6
7
$300 $0
$280 $100
$270 $190
$250 $270
$200 $340
$150 $420
$100 $510
$50 $610

Expert Solution

This question has been solved!

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

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Define monopolist market.

VIEW

Step 2: Complete the table.

VIEW

Step 3: Find the short run and long run profit.

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 1 images

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

Vll definitely upvote.
Moe divides his time between studying Physics and studying Economics. His production possibimes curve for his final grade in each class is shown in the accompanying figure 100 90 80 70 60 50 40 30 20 10 0 10 20 30 40 50 60 70 80 90 100 Economics Grade Both of Moe's professors require at least a 65 to pass and a 90 to earn an A. Which of the following is true? Multiple Choice Moe can pass both classes b Moe can pass physics, but only the tails economics Moe can pass economics, but only it he falls onysics Moe could earn an A in economics and stil pess physics Physics Grade O
Lx Give Up? V Hint Check Answer Question 6 of 14 Attempt 2 6. Trigger strategies in repeated games a. Under a tit-for-tat strategy, a player retaliates permanently against any decision by an opponent to defect - b. Under a grim trigger strategy, a player allows an opponent to defect one or more times before retaliating c. Under a trembling hand trigger strategy, a player repeats each prior move of a competitor d. In the box below, rank the three trigger strategies in order of harshest to most lenient. Question Source: Chiang 4e- Economics Principles For A Changing World Publisher 43°F a 近
The New York Times reports that cruise lines have been slashing prices and cruise sales are up. It says this surge of interest tells us that despite the uncertain economic climate, people clearly need more fun in their lives and view their vacations as a valuable and necessary part of it. How would you make a rational choice about taking a cruise? To make a rational choice you would O A compare the marginal benetit from taking the cruise with the marginal cost of the cruise O B. consider the length of the cruise and the route it will take OC. chose the cruise line with the cheapest prnce regardless of its amenities O D. check with the National Hurricane Center about weather onroute O E chose the ship with the most amenities regardless of the price of the cruise
2..6
i need the answer quickly
Mon poogle weld ascher andes one hamburger and one order of French fries, rather than two hamburgers and no Preech fries. Explain why economists consider this an example of rational decision making
Economics Make the 5 examples of Modus Ponens infrence with the help of vendiagram.???? Provide the eight examples of Modus Tollens infrence with the help of vendiagram and tautology logical reasoning.????
how "framing effect" in economy from behaviorual economy affects managers decision making for increasing companies' profit?
Please correct answer and don't use hand rating
Give typing answer with explanation and conclusion Consider a good or service where consumers pay more than its actual valuation (for eg, products with markup prices at retail significantly higher than their cost: greetings cards, bottled water, stock price, movie theatre popcorn/candy). Based on the irrational decision-making and marginal analysis, explain why such irrational decision-making could take place in this situation.
whith practical examples distinguish between sacale of preference and opportunity cost