Which returns to scale will an efficient firm choose? What market structure has no loss in long run? What production function shows the maximum quantity of goods or services that can be produced with a set of inputs assuming one of the inputs used remains unchanged? Capacity planning refers to adjustment in production considering the what? What can destroy monopoly position?

Q: This week, XYZ company made 425 chairs and sold them at a price of $69 per chair. Calculate XYZ's…

A: The total opportunity cost of production of a commodity alludes to the total cost that the producer…

Q: irm A works in a competitive market and earns 0 profit for the profit-maximizing quantity level.…

A: In the perfectly competitive market, firm produces where the P =MC. Zero economic profit implies…

Q: Suppose that wood industry is a perfectly competitive industry that involves 160 identical firms.…

A: Correct Answer: Option (a) P = 16, q = 8

Q: Suppose that each firm in a competitive industry has the following as the Total cost: TC=50+ ½q2…

A: The efficiency of scale is the point where the average cost is the minimum and it is equal to…

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

A:

Q: . An  electricity  producer  has  a  constant  marginal  cost  of  production equal  to $40  per…

A: Hi! thanks for the question but as per the guidelines we answer up to three sub-parts at one time.…

Q: e’ve observed that there are few examples of perfectly competitive markets in the real world, yet we…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: In competitive markets, there are many small firms with each firm unable to influence the market…

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Q: It is the month of June, which is the peak season for producing rye. At the current level of output…

A: The profit-maximizing level, in economics, refers to the level of output or production at which a…

Q: Describe how firms in Perfect Competition achieve both allocative and productive efficiency and thei…

A: There are two situations that arise in a perfectly competitive market, one is short-run equilibrium…

Q: Can you help with parts d,e and f please? A perfectly competitive firm has the following total cost…

A: TC = 4,500 + 2q + .0005q2 We know that  ATC = TC / q ATC = (4,500 + 2q + .0005q2) / q   TC = 4,500 +…

Q: What is the firm's fixed cost? What is the profit-maximizing level of output? Given that half of…

A: Profit maximizing level of output is given at the point where marginal revenue (MR) equals marginal…

Q: change the questions or use different values? Question 1. In competitive markets, there are many…

A: Given, TC = 50 + 2Q + 3Q2

Q: Because you know that competitive firms earnzero economic profit in the long run, you know the…

A: Average total cost refers to the approximate total cost of production at different levels of…

Q: 100 90 80 70 PRICE (Dollars perton) 8 588 50 20 10 0 0 125 250 375 500 625 750 875 1000 1125 1250…

A: Long-run:- The long run is a hypothetical notion where all marketplaces are in equilibrium, all…

Q: Suppose that each firm in a competitive industry has the following as the Total cost: TC=50+ ½q2…

A: TC = 50 + 0.5q2 MC = q D: Q = 120 – P In competitive industry, firms will supply up to P = MC…

Q: Construct a short-run supply schedule for the firm and indicate the profit or loss incurred at each…

A: We have to construct the supply schedule from the given unit cost data. We know that the supply…

Q: In competitive markets, there are many small firms with each firm unable to influence the market…

A: Fixed cost:  Cost to the firm which doesn’t change with output produced.

Q: Saved The following table shows the production function for a bicycle manufacturer: Number of…

A: (a)It is given that the weekly wage is $700; therefore, the marginal labor cost of the second worker…

Q: The graph below shows a particular firms marginal revenue (mr) marginal cost (mc) and average total…

A: A competitive market is an expression in economics that implies a marketplace where there are a…

Q: Mr. Stonewall has to set up a firm that produces calculators competing with the likes of Casio and…

A: The functional relationship between the factors of production (inputs) and output is shown by the…

Q: Consider the competitive market for ruthenium. Assume that no matter how many firms operate in the…

A: The Perfect competition is a market which is consisting of a large numbers of buyer and seller. In…

Q: State whether the following statements are correct or not and briefly explain why A. Diseconomies…

A: Diseconomies can be defined as the rise in costs or inefficiencies that occur when a firm or…

Q: Describe the situations under which a firms capacity must lag and lead to the demand ?

A: In a Market, a firm produce output to meet the market demand and to satisfy consumers' needs and…

Q: Suppose that you are one of rubber producers (sellers) in the perfectly competitive market in…

A: Worker cost is considered as variable cost because it changes as output output changes .  And we…

Q: Is it even better for perfectly competitive firms to produce output even though it is losing money?…

A: In economic theory, perfect competition occurs when all companies sell the same products, market…

Q: 2. A local business has asked an economic development consultant to help it decide if it can…

A: A mathematical equation that depicts the relationship between the cost of producing a certain…

Q: Suppose that each firm in a competitive industry has the following costs: Totalcost:TC=50+1/2q2…

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

Q: Under what condition will a competitive firm necessarily shut down its operations? What does this…

A: According to the law of supply the higher is price higher is the quantity supplied and lower the…

Q: why do competitive firms earn supernormal profits in the short run which then disappear in the long…

A: A large number of customers and sellers trading products or services is a sign of a competitive…