Price per Tonne of Wheat MC 18.00 ATC 17.00 15.75 16.00 15.25 1550 15.00 14.00 13.00 12.00 11.00 500 1000 ++ 1500 Tonnes of Wheat per Month Figure 9-5 shows the cost curves of a firm in a perfectly competitive market. If the market price is $17 and the firm is maximizing profit, how much is its total cost? OA. $20 400 OB. $17 000 OC. $18 300 OD. $15 000
Q: 5. The human capital model of investment in an athlete's training incorporates both the costs and…
A:
Q: Decisions about Science & Technology play a significant role in shaping our future society. In…
A: Let's break down how the provided answer comprehensively addresses each aspect of the…
Q: The expectations theory tells us that Select one: • O a. the only way the central bank can produce a…
A: The objective of the question is to understand which statement correctly represents the expectations…
Q: None
A: The objective of the question is to calculate the elasticity of demand for entrees at a price of $9…
Q: hello so i just wanna know how to make graphs on excel sheet using the data i am gonna give you and…
A: Steps:Open Microsoft Excel: Launch Excel or open an existing spreadsheet.Input Your Data:In the…
Q: Cotton Corporation currently makes 13,400 subcomponents a year in one of its factories. The unit…
A: Outside supplier cost per unit97Less: Avoidable costs85Decrease in profits per unit12Times: No. of…
Q: What does it mean in a monopolistically competitive market, when the rule for maximizing profit is…
A: The question is asking about the rule for maximizing profit in a monopolistically competitive…
Q: Use the figure below to answer the next few question, it represents the cost curves of a perfectly…
A: If the market price is $1 and it's below the average variable cost (AVC), the firm will not be able…
Q: Real GDP per capita is 49,773 (measured in constant 2017 International Dollar, same for the…
A: The objective of the question is to decompose the differences in real GDP per capita between Canada…
Q: You are trying to decide, whether to lease or to buy equipment. The lease lasts for 5 years, with…
A: Part 2: Explanation:Step 1: Calculate the Present Value (PV) of the lease payments:The annual lease…
Q: Given the following information about each economy, either calculate the missing variable or…
A: Detailed Solutions to the Questions about National Income Accounting(a) Total Income:Total income is…
Q: Canadian real GDP per capita is 50,097 (measured in constant 2017 USD, same for thefollowing…
A: The objective of the question is to calculate the growth rate of GDP per capita in Canada for the…
Q: Help!
A: The price elasticity of demand measures the responsiveness of quantity demanded to changes in price.…
Q: How would the devaluation of the Argentine peso (ARS$) affect your contribution in the home currency…
A: When a country's currency, like the Argentine peso (ARSS), devalues, it means that its value…
Q: A case study in the chapter analyzed purchasing-power parity for several countries using the price…
A: Step 1: Calculate the predicted exchange rate between Colombian peso and USD…
Q: The following question refers to the diagram below, which illustrates the marginal private cost,…
A: Pont J shows dead weight loss .A deadweight loss is a cost to society created by market…
Q: 2) NPV AND DVD RELEASE TIMING Until recently, a film was released on DVD many months after it was…
A: To calculate the Net Present Value (NPV) for each DVD release timing, we use the cash flows provided…
Q: Will, Jill, and Phil are all wheat farmers. The wheat industry is perfectly (purely) competitive.…
A: Here is the answer Economics, a discipline integral to understanding how societies utilize limited…
Q: Two firms, App and Sam, producing a good named Smart 13 compete in a Stackelberg duopoly. The…
A: In a Stackelberg duopoly, the leader firm set its production quantity, first, knowing the follower…
Q: Based on the pictures of the graphs consulted, comment what is expected from the American economy in…
A: Detailed explanation: I can make the following conclusions about how the US economy is anticipated…
Q: None
A: The most likely cause of the symptoms mentioned in the question is an Aggregate Demand (AD) shift…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: To determine whether pursuing a Master's degree in Economics is financially beneficial, we need to…
Q: Suppose that National Bank of Guerneville has $31 million in checkable deposits, Commonwealth Bank…
A: Step: 1To calculate the excess reserves for each bank after the check is deposited at Commonwealth…
Q: Please help me with this question
A: 4.) a. To find the most recent price of a Starbucks tall latte in China and the implied yuan/dollar…
Q: Question 6 (6 points): Hedge March 15th: A packer needs to buy Live Cattle in early June. Currently…
A: Sure, let's break down the calculations step by step: 1. **Initial Position:** - The packer…
Q: Give introduction step and proper explanation of the answer will upvote. Hand written solution is…
A: The concept of tax incidence refers to the distribution of the burden of a tax between consumers and…
Q: consider a domestic monopoly in a small country that produces a good with the following inverse…
A: QUESTION AFirst, we need to find the equilibrium quantity by setting the quantity demanded equal to…
Q: $80 $75 MB $70 MC $65 $60 $55 $50 $45 $40 $35 $30 $25 $20 $15 $10 $5 $0 0 1 2 3 4 5 6 7 8 9 10 Hours
A: With the rent increase, Kaitlin and Tom would likely operate the shop for fewer than 4 additional…
Q: None
A: Ans. ) Given the question that,there is a competitive firm whose fixed cost is $108. Perfect…
Q: When does price discrimination take place? Group of answer choices A monopoly enters a market with…
A: The objective of the question is to identify the correct scenario in which price discrimination…
Q: Two businesses contribute to maintaining green spaces. Every year the companies 1 and 2 decide how…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: using the data below can you answer the question: Month Sales Jan-16 747 Feb-16…
A: Explaining the assessment of whether a simple exponential smoothing (SES) model works well with the…
Q: Section ARGUMENT: Mastery Test 1 SCORE: (Number correct) x 10= A. Look at the cartoon below, and…
A: 1. False. The woman in the cartoon does not offer relevant support for her argument. Instead, she…
Q: Describe the top ten communication skills that business leaders search for? Explain.
A: Communication skills are crucial for business leaders, as they are responsible for conveying ideas,…
Q: Fill in the blanks. Taxable Income Over But not over- Tax Rate $0 $10,000 10% $10,000 $50,000…
A: Step 1: Marginal tax rate is the rate applied to the next dollar of income.Since the taxable income…
Q: None
A: The IS curve shows all combinations of income and the real interest rate and is negatively slopedA…
Q: 2. Money supply, money demand, and adjustment to monetary equilibrium The following table gives the…
A: Referenceshttps://www.investopedia.com/terms/l/law-of-supply-demand.asphttps://www.investopedia.com/…
Q: Question 7 Superior technology deteriorates labor productivity and increases total supply of goods &…
A: a) lowers the overall productivity of workers while simultaneously raising the total supply of…
Q: Consider five years of monthly pro fit for a company Month Sales Jan-16 747 Feb-16 697…
A: Solution- To forecast monthly sales for 2022, you could use a time series forecasting method like…
Q: just b please. Mainly the "calculating the differences estimate between the free option and $3…
A: The TED Talk Delivered by Esther Duflo: The Use of Randomized Controlled Trials to Combat…
Q: None
A: Exogenous shocks such as a fall in the oil prices will shift the aggregate supply curve SRAS…
Q: Which of the following statements about external costs is TRUE? A Economics uses the term "external…
A: Here's why the other options are incorrect:a) Incorrect: External costs can be significant and have…
Q: The table below provides information about the cost of inputs and value of output for the production…
A: To calculate the value added at each stage of production and the total contribution of the bike to…
Q: The super Expert Hand written solution is not allowed
A: Referencehttps://lms.courselearn.net/lms/CourseExport/files/9567ca7f-cd65-4736-8562-d65a75db2a1e/Cha…
Q: view picture
A:
Q: 9. Bank leverage Use the information given in North Central National Bank's balance sheet to answer…
A: Step 1: Initial Leverage Ratio = Assets/CapitalInitial Leverage Ratio = $1750/$125Initial Leverage…
Q: Spring 2024 An energy efficiency project has a first cost of $400,000, a life of 10 years, and no…
A: Part 2:Explanation:Step 1: Calculate the expected annual savings by taking the weighted average of…
Q: A village has five residents, each of whom has accumulated savings of $100. Each villager can use…
A: To solve this problem, we need to calculate the total village income for each possible combination…
Q: Help!
A: a) To find the inverse demand curve, we need to solve for p in terms of D:D(p) = 400 - 2p2p = 400 -…
Q: The figure above shows a market that is originally at equilibrium at Point A, the intersection…
A: The objective of the question is to understand the impact of changes in supply and demand on market…
Step by step
Solved in 2 steps
- See Hi At a market price of $5 your artisanal pencil business maximizes profits by producing 484 pencils per day. When you produce this quantity of pencils per day, your average cost per unit is $4. What is your total revenue per day? S What is your total cost per day? S What is your daily profit? SAn industry currently has 100 firms, each of whichhas fixed cost of $16 and average variable cost asfollows:Quantity Average Variable Cost1 $12 23 34 45 56 6a. Compute a firm’s marginal cost and average totalcost for each quantity from 1 to 6.b. The equilibrium price is currently $10. How muchdoes each firm produce? What is the total quantitysupplied in the market?c. In the long run, firms can enter and exit themarket, and all entrants have the same costs asabove. As this market makes the transition to itslong-run equilibrium, will the price rise or fall?Will the quantity demanded rise or fall? Will thequantity supplied by each firm rise or fall? Explainyour answers.d. Graph the long-run supply curve for this market,with specific numbers on the axes as relevant.When is an industry productively efficient? R OOD F4 A. When firms in that industry produce the amount of output that intersects with the minimum of their ATC curves ubmission B. When the short-run equilibrium market price is above the long-run equilibrium market price ← PREVIOUS or dº APR 20 % 5 C. When the market price for the good or service in that industry is the same as marginal revenue D. When the average total cost curve intersects the marginal revenue curve at its lowest point T F5 6 MacBook Air F6 Y & 7 F7 U stv * CO 8 A DII F8 - ( 9 DD F9 O 0 VIEW F10 P
- Calculate the average total, fixed, and marginal costs for a “competitive” firm with the following production cost schedule. q Total Cost ATC AFC MC0 10 100 12 200 16 300 26 400 38 500 75 600 120 What output or q (in the units of 10) is the most efficient production level? If the market price is $0.10 then what output or q (in the units of 10) is the most profitable production level? (This is the answer im looking for)The market for apple pies in the city of Ectenia is competitive and has the followingdemand schedule:Price Quantity Demanded$ 1 1,200 pies2 1,1003 1,0004 9005 8006 7007 6008 5009 40010 30011 20012 10013 0 ch producer in the market has fixed costs of $9 and the following marginal cost:Quantity Marginal Cost1 pie $ 22 43 64 85 106 12a. Compute each producer’s total cost and average total cost for 1 to 6 pies.b. The price of a pie is now $11. How many pies are sold? How many pies does eachproducer make? How many producers are there? How much profit does eachproducer earn?c. Is the situation described in part (b) a long-run equilibrium? Why or why not?d. Suppose that in the long run there is free entry and exit. How much profit does eachproducer earn in the long-run equilibrium? What is the market price? How many piesdoes each producer make? How many pies are sold in the market? How many pieproducers are operating?The table below shows the weekly marginal cost (MC) and average total cost (ATC) for Buddies, a purely competitive firm that produces novelty ear buds. Assume the market for novelty ear buds is a competitive market and that the price of ear buds is $6.00 per pair. Buddies Production Costs Quantity MC АТС of Ear Buds ($) ($) 9.00 - 10 2.00 5.50 15 2.44 4.48 20 3.56 4.25 25 4.50 4.30 30 5.02 4.42 35 5.96 4.64 40 8.56 5.13 Instructions: In part a, enter your answer as the closest given whole number. In parts b-d, round your answers to two decimal places. a. If Buddies wants to maximize profits, how many pairs of ear buds should it produce each week? pairs b. At the profit-maximizing quantity, what is the total cost of producing ear buds? c. If the market price for ear buds is $6 per pair, and Buddies produces the profit-maximizing quantity of ear buds, what will Buddies profit or loss be per week? 2$ d. Now assume the market price is $5.50 per pair, and Buddies produces the…
- Price nd cost d Refer to the diagram to the right which shows the cost and demand curves for a proft - maximizing tem in a perfectly competitive market. if the market price is $30 and the firm is producing output, what ia the amount of the fem's proft or lose? MC ATC A. koss of $1,080 AVC t 40.50 A36.00 OB prott of S1,440 OC. loss of $2.520 30.00 MR OD. profit of $1,300 22.00 20.00 130 180 240 QuartyPrice and cost (dollars per mug) NA a ∞ ONA a 16 0 5 10 15 20 25 30 35 40 45 50 Quantity (mugs per day) $160; $280 The figure above shows Mollie's Mugs' costs producing mugs. The mug market is perfectly competitive. If the market price of a mug falls to $5 and Mollie's shuts down temporarily, its total variable cost is per day and it incurs an economic loss of per day. $8; $14 MC $0; $120 ATC AVC $0; $6Output AFC AVC ATC MC 1 $ 300 $ 100 $ 400 $ 100 2 150 75 225 50 3 100 70 170 60 4 75 73 148 80 5 60 80 140 110 6 50 90 140 140 7 43 103 146 180 8 38 119 156 230 9 33 138 171 10 30 160 190 290 360 The accompanying table shows cost data for a firm that is selling in a purely competitive market. If the market price for the firm's product is $180, the firm will produce Multiple Choice 6 units and earn economic profits of $800. 8 units and earn economic profits of $278. 5 units and earn economic profits of $900. 7 units and earn economic profits of $238.
- Q23 Suppose a perfectly competitive firm is currently operating with the following information: Output = 1500 tonnesAverage total cost = $627 per tonneAverage variable cost = $614 per tonneMarginal revenue = $620 per tonneMarginal cost = $620 per tonneAt the current level of output, this firm is _____ profit and is an earning economic profit of _____. a. Maximising; -$10500. b. Not maximising; -$10500. c. Maximising; $10500. d. Maximising; $9000. e. Not maximising; -$9000.Question list Question 8 O Question 9 O Question 10 K Sophia grows Christmas trees. Her cost of production is shown in the table below. Christmas Trees Total Cost $40 $60 $108 II $164 $228 6 $300 7 $380 Suppose the market for Christmas trees is perfectly competitive and that the market price for Christmas trees is $60 per tree. How many Christmas trees should Sophia grow? Sophia should grow trees. (Enter your response as an integer value.)Don't use chatgpt or any AI A profit-maximising firm in a competitive market is currently producing 1,000 units of output. It has average revenue of $50, average total cost of $40 and fixed cost of $10,000. a) What is its profit? b) What is its marginal cost? c) What is its average variable cost? Is the efficient scale of the firm more than, less than or exactly 1,000 units?