The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a monopolistically competitive
Question:
a. Plot the profit-maximizing price and quantity on the graph.
b. Is this firm earning zero, positive, or negative profits? Why?
c. Is this firm in a long-run equilibrium?
Figure 15P-4:
Transcribed Image Text:
Price/Cost MC ATC AVC P= AR = MR Quantity
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 43% (16 reviews)
a The profitmaximizing output occurs where MC MR or Q 20 units T...View the full answer
Answered By
Akshara TL
I am Akshara.T.L.I have successfully completed MA.Malayalam.I would like to be part of solution inn and i can assure my whole hearted service towards the firm.Kindly consider this application. recently i work a pvt.firm as a teacher.l have 5 years experiance.
My subjects is law and history
I promise to you good classes gives to you
Thanku
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Use the following table to answer the questions listed below. Total Output Cost TFC TVC AFC AVC ATC MC 0 $20 10 $ 40 20 $ 60 30 $ 90 40 $120 50 $180 60 $280 a. Calculate the total fixed costs, total...
-
The following table shows data for the simple production function used in Question 1. Capital costs this firm $20 per unit, and labor costs $10 per worker. a. From the information in the table,...
-
The following table shows data for the simple production function used in Question 2. Capital costs this firm $50 per unit, and labor costs $20 per worker. a. From the information in the table,...
-
Clapton Company's sales budget shows the following projections for the year ending December 31, 2017: Quarters First (Jan -March) Second (April June) Third (July-Sept) Fourth (Oct-Dec) Total First...
-
The comparative financial statements of Norfolk Cosmetic Supply for 2018, 2017, and 2016 include the data shown here: Requirements 1. Compute these ratios for 2018 and 2017: a. Acid-test ratio (Round...
-
1. Explain how flexible and family-friendly policies have played a role in SASs success. 2. What kind of relationship does SAS seem to have with its employees? With its customers? The employee...
-
Why are Japanese companies among the largest in the world?
-
Globals special order also requires 1,000 kilograms of genatope, a solid chemical regularly used in the companys products. The current stock of genatope is 8,000 kilograms at a book value of 12.15 p...
-
A 6 8 4 12 2 C 1 7 B Determine the following cardinalities. n(A) = 8 n(C) = 19 n(ANC) = n(AUB) = 21 21 n(AUBUC) = n(An BNC) = Video
-
Company F sells fabrics known as fat quarters, which are rectangles of fabric created by cutting a yard of fabric into four pieces. Occasionally the manufacturing process results in a fabric defect....
-
Table 15P-1 shows the monthly demand schedule for a good in a duopoly market. The two producers in this market each faces $5,000 of fixed costs per month. There are no marginal costs. a. What is the...
-
Figure 15P-2 shows the monopolistically competitive market for smartphones. a. Plot the profit-maximizing price and quantity on the graph. Is this producer earning positive or negative profits in the...
-
Thomas Consultants provided Bran Construction with assistance with implementing various cost-savings initiatives. Thomas' contract specifies that it will receive a flat rate of $50,000 and an...
-
What are the first three points of time (after t = 0), in which the voltage evaluates to 3.0 V, as the function for the voltage is given by u(t) = 4.2 V sin(1.2t - 0.5)? Please give your answers with...
-
A metallurgist has one alloy containing 35 % titanium and another containing 64 % titanium. How many pounds of each alloy must he use to make 52 pounds of a third alloy containing 38 % titanium?...
-
A College Alcohol Study interviewed an SRS of 1000 college students about their drinking habits. Suppose that half of all college students "drink to get drunk" at least once in a while. That is...
-
The ancient Greek mathematician Euclid is credited with the development of the theorem that the sum of the angles of a triangle is 180 degrees. Use the previous information to solve for the measure...
-
You are running the bond trading desk of a large investment bank. This morning, you obtained the following quotes from your broker: There is a 0.5-year maturity zero-coupon bond with price 97.58...
-
The Hyatt Company is trying to decide whether it should purchase new equipment so that it can continue to make its engines, a key component of its final product, internally or whether production...
-
Express mass density in kg/m3 and weight density in lb/ft3. 1. Find the mass density of a chunk of rock of mass 215 g that displaces a volume of 75.0 cm3 of water. 2. A block of wood is 55.9 in. x...
-
1. The average cost of producing an iPhone is about $ _____. 2. The cost of producing the first fake killer whale is about three times the cost of producing the second because the firm uses _____...
-
1. The average cost of producing an iPhone is about $ _____. 2. The cost of producing the first fake killer whale is about three times the cost of producing the second because the firm uses _____...
-
In the search for alternatives to fossil fuels, a prominent contender is switchgrass, a perennial grass that is native to the U.S. plains states. The principal advantage of switchgrass and other...
-
Transfer Pricing, Idle Capacity Asgard Farms, Inc., has a number of divisions that produce jams and jellies, condiments and glassware. The Glassware Division manufactures a variety of bottles that...
-
Assume the following information: Milling Department Units Percent Complete Materials Conversion Beginning work in process inventory 200 30% 30% Units started into production during March 6,200 Units...
-
Discuss the statement and tell what possible misuse or misinterpretation may exist. Company Upper ACompany A sells a washing machinewashing machine that costs more than the washing machinewashing...
Study smarter with the SolutionInn App