A perfectly competitive firm has the following total cost schedule: TC = 0.10² +40. Market demand is given by: QD = 408 - 2P How many firms are in the market in the long-run? Multiple Choice O O O N=10 N=20 N=30 N=40 None of the above.
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- The fast answer is best . Thank you. Like like like. The manufacturer of smart printers is trying to decide what price to set for its product. The demand and cost function are assumed to be as follows: P = 80 -2Q TC= 160 +50Q-1.5Q ²a. What price should the company charge if it wants to maximize its profit in the short run? What is the optimal quantity for the printer following this optimal price? b. What price should it charge if it wants to maximize its revenue in the short run? What is the optimal quantity for the printer under this price? What will be the maximum revenue?10 ATC ATC2 ATC3 ATC, 2 2 4 6 8 10 Quantity (thousands of copies per day) A copy shop is choosing between four different operational sizes (ie, plant size). The average total cost curve for each option is shown in the graph. If the market demand for copies is 12,000 copies per day, how many copy shops would you expect to see in this market? The answer depends on the price of a copy, which is unknown. O 1 (because the copy shop will become a monopoly with a large quantity demanded) O (because the copy shop can't produce 12,000 copies efficiently and will shutdown) 3 (with each shop supplying 4000 copies per day) 8, 6 Average cost (cents per copy)AMCO is a firm producing tables in Spain. It has a fixed cost of 100$ and a cost per unit of production of 2$. The demand function for a table is given by: P = 60 - 4Q 1. Find the equations of TR and TC. 2. Write down the equation of the profit. 3. Find Qwhen TR = 0 (x-intercept/roots). 4. Find Qwhen TR is a maximum. 5. Deduce the maximum total revenue (TR max).
- Assume a competitive firm faces a market price of $100, a cost curve of: C = 0.25q + 50q + 1,600 and a marginal cost curve of: MC = 0.50g + 50. The firm's profit maximizing output level is 100.00 units, the profit per unit is $9.00, and total profit is: $900.00. However, if the firm wanted to maximize the profit per unit, how much would it produce? It would produce units. (round your answer to two decimal places) If the firm produced this output level, what would be the profit? Its profit would be S. (round your answer to the nearest penny)Total cost function in competitive firm is TC = 27+ 3Q2. If firm gets normal profit please find the average total cost of this firm.A local microbrewery has total costs of production given by the equation TC=500+10q+5q2. This implies that the firm's marginal cost is given by the equation MC=10+10q (you do not need to be able to show this). The market demand for beer is given by the equation QD=105 – (1/2)*P. a) Write the equations showing the brewery's average variable cost.
- In a particular city, there are a number of bag vendors selling bags. Suppose that each vendor has a marginal cost of R1.50 per bag of sold and no fixed cost. Suppose the maximum number of bags that any one vendor can sell is 100 per day. a) b) c) If the price of a bag is R2, how may bags does each vendor want to sell? If the industry is perfectly competitive, will the If not, what will the price be? price remain at R2 for a bag? If each vendor sells exactly 100 bags a day and the demand for bags from vendors in the city is Q = 4400 1200P, how many vendors are there?The table shows cost data for a firm that is selling in a perfectly competitive market. This firm's minimum average variable cost is $14 and has fixed costs equal to $100. Output 5 7 9 11 11 units 9 units Refer to the above cost table. If the price of the product is $26, the firm will produce Select TWO answers from the choices below; one selection is the number of units produced and the second selection is the dollar amount of the loss earned by the firm. ✔$100 $30 $28 $0 7 units 00 units 5 units ATC $34.00 30.00 30.55 33.09 $182 MC $13 26 35 48 for a loss.The following table shows a profit-maximizing producer's marginal costs. The firm is operating in a perfectly competitive market and has fixed costs of $500. Marginal Cost ($) 200 Quantity 1 2 150 3 100 4 170 5 230 16 300 7 420 18 600 Refer to the above information to answer this question. What is the breakeven price?
- Suppose that, in a perfectly competitive industry, every firm has total cost function TC(Q)= 5million +4Q+Q²/50,000. Demand is given by D(p) - 375,000(42-2p). (a) If the industry consists of five firms, with no possibility of entry or exit, how much does each firm produce in equilibrium? (b) What is the profit of each firm? (c) How would you answer to part (a) change if there would be a possibility of entry and/or exit? Provide a sketch of how one would solve for the equilibrium outcome.The cost function of competitive firm is TC = 20 + 5Q2. The product's market price is 30 AZN. Please find the firm's profit.10. A large number of price-taking firms are characterized by the same cost function c(q) 10q² + 20q + 100. The price of the product is currently 100 dollars. Will other firms enter this market in the long-run? = (a) Yes (b) No (c) Depends on whether we are in the decreasing or increasing portion of the average cost c ve. (d) Not enough information.