When price is _______ average cost of production, profits are ______ due to  ________ averate profit. Group of answer choices below; negative; positive below; positive; positive above; positive; positive above; negative; negative

Q: In the long run, which plan has the higher payout? Plan A Payout P(Payout) −$35,000 0.57 $30,000…

A: The long run is a amount is a during which all factors of production and prices are variable. within…

Q: To calculate a firm's per unit of output profit, it is necessary to subtract Select one: a. cost per…

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Q: QUESTION 17 Whenever marginal revenues are higher than marginal costs, a. a firm should stop its…

A: The goal of every successful business is to maximize profits, and this is accomplished through a…

Q: In markets that are not perfectly competitive, ________.   A. minimum transfer price will equal the…

A: Perfectly competitive market refers to the market where many sellers exists in the market and firms…

Q: Pilar’s taco trucks sells about $600 various tacos per day for an average price of $6. On average,…

A: The objective of the question is to calculate Pilar's profit margin from selling tacos.

Q: If firms in the market are producing output but are currently making economic losses, illustrates…

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

Q: Product-Product Analysis Given the following production possibilities when 3 units of X are used: Y2…

A: Intercept can be calculated by using the following formula.

Q: Kelsey has been asked to report on how the company's high-rise jeans collection had spread through…

A: the first to take on another item that has been brought into the commercial center. Trend-setters…

Q: 4- A firm operating in a perfectly competitive market has the option to use two different…

A: In this problem, a firm operates in a perfectly competitive market and has the option to use two…

Q: As long as the marginal benefit of producing each successive unit is greater than the marginal cost,…

A: As long as the marginal benefit of producing each successive unit is greater than the marginal cost,…

Q: In the short run, given a market price equal to $15 per overalls, the firm should produce a daily…

A: In a perfectly competitive market, the firm produces at the point where its marginal cost is equal…

Q: 85 45 30 25 10 D. 10 18 20 32 Q cefer to the graph, at quantity 32 Marginal Cost (MC) is

A: here we find the cost curve and answer the following as follow-

Q: Explain the concepts of revene, costs, and profit

A: Production is the process of merging numerous material and immaterial inputs (plans, know-how) to…

Q: Unit 4 Problem Set Assume that EarthScience's patent expires. GeoSci, a company with the capability…

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Q: Price (Per Unit) P1 P₂ P3 Pa 9₁ MC 92 93 94 Quantity (Units per week) (a) ATC Price (Per Unit) D P₁…

A: In perfect competition, There exists a large number of buyers and sellers. The firm will produce…

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

A: In perfect competitive market, the profit-maximising output for a firm is where its marginal…

Q: 2. Consider a firm in a competitive market that has the cost function C(q) = 8 + 2q°, where q is the…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: At profit-max quantity, the firm earns _________________economic profit on the last unit sold. Why?

A: The profit is the excess revenue made after deducting the total cost of production from the total…

Q: Note: Plot your points in the order in which you would like them connected. Line segments will…

A: Total revenue refers to the overall income or sales generated by a business or organization from the…

Q: The market for Christmas trees is perfectly competitive. Each tree costs $80. A firm in this market…

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

Q: One more question is,  A profit maximizing firm faces market price of p2. What are their profits?

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Cost and revenues (dollars) 0 Text Alternative с d MC Break-even point (normal profit) Shutdown…

A: The shutdown point: In the short run, the firm is willing to supply output if it is able to cover…

Q: Which line segment best reflects the supply curve for this firm? F MC ATC B Quantity CF (c) DF (d)…

A: In perfect competition, there are a large number of buyers and sellers who produce homogeneous…

Q: Question 4 If firms are competitive and profit maximizing, the price of a good equals the...…

A: "A competitive market structure in economics is the one in which there are many buyers and sellers.…

Q: Firm A Firm B Price and Cost (dollars) Price and Cost (dollars) MC MC ATC 11 11 10 10 AVC ATC 8. AVC…

A: In a perfectly competitive market there are large number of firms producing similar and identical…

Q: You are running a business in a perfectly competitive market. Your product sells for $5 and your…

A: The perfectly competitive market would result in the equilibrium in the market which would have a…

Q: What is the rule in using the marginal analysis in making the optimal decision?  a. the optimal…

A: The additional benefits obtained from an activity are compared against the increased cost incurred…

Q: A company produces radios which it sells for $33 each. There are fixed costs of $27,000 each month…

A: Fixed cost are those costs on which the change in quantity does not have a direct impact. Variable…

Q: Refer to Figure 2, Graph (a). Production is O possible at points P, R, S, and T, but efficient only…

A: The PPF illustrates opportunity cost(OC) which shows the trade-off between producing one good over…

Q: P (dollars) MC ATC 60 50 AVC 35 10 Q (units) 100 300 450 If the market price is $60, then the firm…

A:

Q: (a) Complete the table. (b) Identify the equilibrium output and price. (c) How much profits does the…

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

Q: If a firm's profit margin is negative,   this means that:   a. The average cost is above the price.…

A: If price exceeds average cost, then a firm generates an economic profit. However, if price falls…

Q: A bookstore is selling books for $9.99 each or three for $25. If Evi buys 2 books, what is the…

A: The marginal cost is the additional cost of when one more unit of output is produced. The cost…

Q: .Idea generation is meaning the systematic search for new product ideas Agree Disagree O Developing…

A: 1.  This given statement is Right (agree) Ideal generation refers to the systematic search for new…

Q: a) In this market, the equilibrium price is per box, and the equilibrium quantity of oranges is…

A: a) Equilibrium in the orange market occurs when the supply is equal to demands. Therefore, the point…

Q: Which of the following is NOT one of the advantages of being a first mover? A. A sustainable…

A: B. The financial strain of creating a new market. This option is NOT an advantage of being a first…

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: Supply in a Competitive Market - End of Chapter Problem Consider the accompanying cost curves for…

A: A competitive market is one where there are a large number of firms or producers for a certain good.…

Q: 1. When the business produce products at break-even point, it is said to be A. A loss for the…

A: Business: A business is characterized as an association or ambitious element occupied with business,…

Q: Profit per unit is the difference between O average revenue and marginal cost. average revenue and…

A: In a market, profit refers to the amount received by a firm after deducting all the expenses or cost…

Q: Ross is an owner of a donut shop and is subjected to a perfectly competitive market. When the news…

A: In a perfectly competitive market, the market price is determined by the market forces at the…

Q: The law of diminishing returns indicates that O A. the demand for goods B. because of economies and…

A: The production of various goods and services by the producers involve the use of inputs, or…

Q: Your marketing department has identified the following customer demographics in the following table.…

A: Given:MC = $1GroupValueFrequencyBaby Boomers$520%Generation X$410%Generation…

Q: 7. If costs fall as the size of a firm rises, then exist. 8. Government regulations, social costs…

A: The above topics are of economies of scale and other microeconomic areas that are used to study the…

Q: calculate the profit at the production level.

A: Profit is the difference between Total Revenue and Total Cost. The assumption is the total cost…