FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4. Jen sells dog food in a competitive market. Her competitive firm maximizes profits (P) when Max P = TR(q) - TC(q). Let q =

image text in transcribed
4. Jen sells dog food in a competitive market. Her competitive firm maximizes profits (P) when Max P = TR(q) - TC(q). Let q = number of bags of dog food sold at market price $15.00. Her short run total cost STC=125 + 49 + 0.04q2 Her short run marginal cost SMC = 4 + 0.08q 4a. Calculate how many bags of dog food will be produced. 4b. Calculate the profits. 4c. Calculate the price for which she will shut down her business

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Theory Of Moral Sentiments

The Theory Of Moral Sentiments

Authors: Adam Smith, D D Raphael

1st Edition

0865970122, 9780865970120

More Books

Students also viewed these Economics questions

Question

★★★★★
An 1150-kg car pulls a 450-kg trailer. The car exerts a horizontal force of 3.8 x 103 N against the ground in order to accelerate. What force does the car exert on the trailer? Assume an effective...

Answered: 1 week ago

Question

★★★★★
During a daytime football game you notice that a player's reflective helmet forms an image of the Sun 4.8 cm behind the surface of the helmet. What is the radius of curvature of the helmet, assuming...

Answered: 1 week ago

Question

★★★★★
5. Model motivation to learn for your students. Talk about your interest in the subject and how you deal with difficult learning tasks (Xu, Coats, & Davidson, 2012).

Answered: 1 week ago

Question

★★★★★
From the following transactions as well as additional data, please complete the entire accounting cycle for Mikes Plumbing of Prince Albert. (Use a chart of accounts similar to the one in Problem...

Answered: 1 week ago

Question

★★★★★
Budgetary entries Harmon School District's General Fund accounts for all revenues and expenditures. At the start of school year 2022 (which runs from July 1, 2021 to June 30, 2022) the fund balance...

Answered: 1 week ago

Question

★★★★★
LA Laboratories' has a defined benefit retirement plan. The company's annual financial statements include the following excerpt about these plans (in millions). $10,158 947 873 Plans' assets at fair...

Answered: 1 week ago

Question

★★★★★
need question 12 and 13 answered 12. 20 years ago, my dad was riding his bike along a country road and noticed someone dumping garbage on this property. The property was designated to have natural...

Answered: 1 week ago

Question

★★★★★
80% of the arrivals to a COVID19 vaccination center pre-register themselves on the COWIN portal before arriving whereas the rest walk in and register at the venue. Pre-registered individuals verify...

Answered: 1 week ago

Question

★★★★★
Vignette Assumption When completing the vignettes, there is a vignette assumption. That is, when reading assume that a full assessment has been done and no mention means 'no evidence'. This is the...

Answered: 1 week ago

Question

★★★★★
1. The following diagram shows a glancing collision of mass 1 and mass 2. Assume that the masses are the same and the surface has no friction. Before Collision After Collision horizontal Mass 2 axis...

Answered: 1 week ago

Question

★★★★★
Name 3 things that Pals restaurant did that made them a unique fast food restaurant.

Answered: 1 week ago

Question

★★★★★
In what ways might your organisation or department benefit from wider dissemination of your research? Are there other companies within your wider organisation, or within the supply chain or network,...

Answered: 1 week ago

Question

★★★★★
If you agreed that your research participants would receive a summary of your overall work, what will this look like? To what extent is it useful to share your specific recommendations?

Answered: 1 week ago

Question

★★★★★
How often do you systematically and routinely gather high-quality data about the issues your organisation faces? To what extent do you critically assess the quality of these data?

Answered: 1 week ago

Previous Question Next Question