Sparkle is one firm of many in the market for toothpaste, which is in long-run equilibrium. Indicate which of the following graphs accurately reflects Sparkle's demand curve, marginal-revenue (MR) curve, average-total-cost (ATC) curve, and marginal-cost (MC) curve. A Demand Demand ATC ATC MC- MC MR MR Quantity of Sparkle Toothpaste Quantity of Sparkle Toothpaste A Price, Cost, Revenue Price, Cost, Revenue
Q: QD(P) = 10,000 - 10P N number of firms follow: TC(Q) = 20,000 +0.5Q^2 How many long run firms…
A: In the long run perfectly competitive market earns normal profit due to free entry and exit and as…
Q: A firm was producing at profit maximizing output and decided to shut down. Which of the following is…
A: The profit of the profit maximizing firm is maximized at a point where marginal revenue is equal to…
Q: The packaged milk market in Pakistan is perfectly competitive. Some firms in the market are…
A:
Q: Use the table below to answer questions about Christina's Christmas Wreaths. Christina operates in a…
A: "In perfectly competitive market, price equates the marginal revenue and average revenue."
Q: Sparkle is one firm of many in the market for toothpaste, which is in long-run equilibrium. Indicate…
A: The firm produces output at a profit-maximizing or loss-minimizing level of output which can be…
Q: cost curves to those of Smart in question 3. a.) What happens to the number of firms producing…
A: In the long run, firms are producing output at lowers point of average cost curve. This point can be…
Q: Perfect competition is a theoretical market structure in which the following criteria are met: All…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
Q: The table below shows the average cost (AC) for a purely competitive market. The average revenue…
A: Given: Average revenue (AR) =RM5 per unit Firm’s total fixed cost (TFC) =RM4.
Q: Use the table below to answer questions about Christina's Christmas Wreaths. Christina operates in a…
A: We have given price = 64 for product the product. Due to given price, MR becomes equals to the…
Q: b). The Philadelphia water ice industry is a constant cost industry. The demand for water ice…
A: A constant cost industry is an industry whose output can be increased without an increase in the…
Q: economic profits.
A: 1. please find the graph below with labels showing The profit-maximizing output and price, labeled…
Q: MC ATC H K Demand MR ELM Quantity Dollars
A: Firm will be in equilibrium when either profit is maximized or loss is minimized. Mathematically…
Q: A perfectly competitive firm produces good X and has the following weekly cost data. ( Q = total…
A:
Q: Hampton Inc. produces soap in a purely competitive industry. The table below is Hampton Inc.'s cost…
A: In the pure competitive market reach firm has very small share of whole market as a result a typical…
Q: State what market structure exists in the hotel industry in Jamaica during the 1990s. Can excess…
A: A kind of structure where many different firms are present and are competing while selling…
Q: Suppose that Maggie's Farm Organics, a perfectly competitive firm, is producing an Output equal to…
A: In perfect competition, eqm Q(quantity) is found by the intersection of MC(marginal cost) and…
Q: Price and cost MC ATC AVC 20 MR 15 14 11 750 1,100 1,350 1,800 Quantity Figure 12-5 shows cost and…
A: The perfect competitive industry is that industry which has large number of buyers and sellers. They…
Q: Consider a perfectly competitive market and a firm's average total cost curve and marginal cost…
A: In a perfectly competitive market there are large number of firms producing similar and identical…
Q: The graph shows the cost curves of an individual firm in a perfectly (or purely) competitive…
A:
Q: The two figures below show (on the left) the industry supply and demand for wheat and (on the right)…
A: Here, the first graph shows the market for wheat and the second graph shows cost functions of a…
Q: Suppose the book-printing industry is competitive and begins in a long-run equilibrium. Then Hi-Tech…
A: Long-run equilibrium happens when aggregate demand rises to short-run aggregate supply at a point on…
Q: ssume that apples are produced in a perfectly competitive market. Grande’s Orchard is a typical firm…
A: (a) Market is competitive so a typical firm's demand curve is fixed at market price which means…
Q: Some firms in the market are making profit, others are having losses. Draw and explain graphs…
A:
Q: Here is information pertaining to a firm operating in a perfectly competitive marke Price $10.00…
A: A perfectly competitive firm produces output where P= MC
Q: Suppose the book-printing industry is competitive and begins in a long-run equilibrium. Then Hi-Tech…
A: A competitive market is characterized by a large number of buyers and sellers. The market price and…
Q: Read Eye on Smartphones. Explain why smartphone producers offer such a large variety of their…
A: If a product is significantly distinct from those of other companies, it is said to be product…
Q: What is the profit maximizing level of output for the firm? How much profit is this firm earning?…
A: Profit maximizing level of output is achieved where price and quantity are equal i.e., in…
Q: hey i need help with my homework
A: When there is an increase in demand in a competitive firm, the new equilibrium point shifts to B and…
Q: Assume that apples are produced in a perfectly competitive market. Grande’s Orchard is a typical…
A: a) The graph below shows Grande's demand curve along with the cost curves. QG is the profit…
Q: The following attached graph represents the situation of Sindbad’s caps, a firm selling caps in the…
A: In a competitive market, the firm will earn more and more profits when the revenue that is marginal…
Q: Refer to the figure above. If this firm is producing the profit-maximizing quantity and selling it…
A: Given that the firm is profit maximizing firm so it will produce output Q where its marginal cost…
Q: Firm Alpha operates in a perfectly competitive market in a constant-cost industry and is earning…
A: Perfect competition: Perfect competition occurs in economic theory when all firms sell identical…
Q: ncludes the firm’s dem
A: Perfect competition is a theoretical structure of market in which all firms tend to sell an…
Q: Joyce owns a gas station and monopolizes gas sales along a remote stretch of road. In February,…
A: We are authorized to answer one question at a time since you have not mentioned which question you…
Q: The Nintari Company produces video-game-playing machines and a second firm, Necsega, owns exclusive…
A: Imperfectly Competitive Market An imperfect competition market is a situation where there is a…
Q: Question 16 For a purely competitive firm: C marginal revenue will graph as an upsloping line. C the…
A: Answer - Given in the question - For purely competitive firm Evaluating the options - 1. Marginal…
Q: The figure below depicts the market supply and demand for the perfectly competitive rollerblade…
A: Please find the answer below. PERFECTLY COMPETITIVE: The term perfect competition refers to a…
Q: Basti’s Coffee operates in a competitive market. The short run price in the coffee market is equal…
A: Perfect competition is a market structure where a very large number of buyers and sellers exist, and…
Q: You decide to create a burger restaurant named BurgerDeals to help pay for college fees. The table…
A: Total Fixed Cost = TC at 0 unit Total Variable cost = Total Cost - Total Fixed Cost Average Total…
Q: In the above figure, the perfectly competitive firm's shutdown point is at a price of
A: In a competitive firm there are large number of firms selling identical products thus they have no…
Q: Use the table below listing Average Total Cost (ATC)d and Marginal Cost (MC) for a firm in perfect…
A: Perfect competition is the market structure where there are large no of buyers and sellers selling…
Q: Demand Demand ATC MR MR Quantity of Sparkle Toothpaste Quantity of Sparkie Toothpaste Price, Cost,…
A: The market specified here is that of monopolistic competition. In the long run, a firm in a…
Q: The following problem traces the relationship between firm decisions, market supply, and market…
A: Answer: Given, Number of firms in the industry = 100 (1). Equilibrium occurs where the quantity…
Q: These diagrams, pertain to a perfectly competitive firm producing output q and the industry in which…
A: Answer:- (B) Firms to leave the industry, market supply to fall, and product price to rise.
Q: Using diagrams for both the industry and a competitive firm, illustrate competitive long-Run…
A: A competitive industry consists of a large number of small firms that lack a relevant individual…
Q: Shazam, a maker of magic wands, is selling in a purely competitive market. Its output is 600 wands,…
A: Given, Output = 600 wands Price = $8 Marginal cost (MC) = $8 Average total cost = $20…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- The following graph shows Crest's demand curve, marginal-revenue (MR) curve, average-total-cost (ATC) curve, and marginal-cost (MC) curve. Use the black point (plus symbol) to indicate Crest's profit-maximizing output and price. (?) Price, Cost, Revenue Demand ATC O True MR Quantity of Crest Toothpaste True or False: Crest's profit is positive. + Profit MaxThe folowing diagram shows the curves for perceived demand, marginal revenue, and cost for Manuela's Pizza, which serves Mexican-style pizza. Manuela's is one of many other fast food restaurants in this town. MC Price and Cost ATC Demand Quantity of piezas Which statement describes the transibon to the long nun? Select the best answer. O More fast food restaurants will enter the market, and Manuela's demand curve will become more elastic. Manuela's will raise its prices since there is a large demand for its pizzas. O More fast food restaurants will enter the market, and Manuela's demand curve will become more inelastic. Manuela's will experience lower costs of production because it will expand its output.Develop a marketing strategy for each of the eightVALS segments fora. Verizon wirelessb. Vacation packagec. DaVinci Gourmet coffee syrupsd. CNNe. Facial cleansersf. Walmart
- Sparkle is one firm of many in the market for toothpaste, which is in long-run equilibrium. Indicate which of the following graphs accurately reflects Sparkle's demand curve, marginal-revenue (MR) curve, average-total-cost (ATC) curve, and marginal-cost (MC) curve. (?) ?) A B Demand Demand ATC ATC MC- MC- MR MR Quantity of Sparkle Toothpaste Quantity of Sparkle Toothpaste A B Price, Cost, Revenue Price, Cost, RevenueThe components of marginal revenue Andrew's Fire Engines is the sole seller of fire engines in the fictional country of Pyrotania. Initially, Andrew produced eight fire engines, but he has decided to increase production to nine fire engines. The following graph shows the demand curve Andrew faces. As you can see, to sell the additional engine, Andrew must lower his price from $80,000 to $60,000 per fire engine. Note that although Andrew gains revenue from the additional engine he sells, he also loses revenue from the initial eight engines because he sells them all at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial eight engines by selling at $60,000 rather than $80,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $60,000. (GRAPH 1) Andrew _____ increase production from 8 to 9 fire engines, because revenue…Kali is a dot-com entrepreneur who has established a Web site at which people can design and buy aring. Kali pays $600 a month for a Web server and Internet connection. The rings that customers design are made to order by another firm, and Kali pays this firm $20 a ring. Kali has no other costs. The table shows the demand schedule for Kali's rings. What is Kali's profit-maximizing output, price, and economic profit? Price (dollars per ring) 100 Quantity (rings per month) 0 80 20 60 40 40 60 20 80 0 100 Kali's profit-maximizing output is rings a month. Kali's profit-maximizing price is $ a ring. Kali's economic profit is $ a month.
- Suppose that the manager of a donut shop tellsyou that he sold 220 donuts today, for a total revenue of $220 and average revenue of $0.90. What’swrong with this story?Dana is a dot-com entrepreneur who has established a Web site at which people can design and buy awatch. Dana pays $200 a month for a Web server and Internet connection. The watches that customers design are made to order by another firm, and Dana pays this firm $60 a watch. Dana has no other costs. The table shows the demand schedule for Dana's watches. What is Dana's profit-maximizing output, price, and economic profit? Dana's profit-maximizing output is Dana's profit-maximizing price is $ Dana's economic profit is $ a month. watches a month. a watch. Price (dollars per watch) 100 80 60 40 20 0 Quantity (watches per month) 0 20 40 60 80 100Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Per Hour (Q) Price (P) Total Cost (TC) 0 $6.00 $1.50 1 5.50 6.00 2 5.00 9.50 3 4.50 12.50 4 4.00 15.00 5 3.50 17.00 6 3.00 18.50 7 2.50 20.50 8 2.00 23.50 a. To maximize profits, Maria should sell nothing loaves of ciabatta bread per hour. (Enter your response as an integer.)
- Question 21 A firm is a price taker only when the market is perfectly competitive. only when the market is perfectly competitive or monopolistic. Oonly when the market is perfectly competitive or monopolistically competitive. when the market is perfectly competitive, monopolistically competitive, or monopolistic. Question 22Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Price Total Cost Per Hour (Q) (P) (TC) $1.50 $6.00 1 5.50 6.00 5 00 4 50 9.50 3 12.50 4.00 15.00 5 3.50 17.00 6 3.00 18.50 7 2.50 20.50 8 2.00 23.50 a. To maximize profits, Maria should sell loaves of ciabatta bread per hour. (Enter your response as an integer.) Maria should charge a price of $ (Enter your response rounded to two decimal places.) Maria's maximum profit is S (Enter your response rounded to two decimal places.) b. The marginal revenue when selling the profit-maximizing number of loaves of ciabatta bread is S: (Enter your response rounded to two decimal places.) The marginal cost when selling the profit-maximizing number of loaves of ciabatta bread is S (Enter your response rounded to two decimal places.)Study Tools ins ess Tips ss Tips PRICE (Dellars per engine) 288 RSS #RR 100 50 30 20 10 MO 0 0 10 ATC MR Demand 20 30 40 50 70 DO 90 QUANTITY (Thousands of engines) 100 Mon Comp Outcome Min Unt Cost Decause this market is a monopolistically competitive market, you can tell that it is in long-run equilibrum by the fact that optimal quantity. Furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium is average total cost. at the the minimum