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

Question

1 Approved Answer

A firm in a perfectly competitive market has the cost function of C(O)=30+Q2. If all other firms in the same market sell output at a

image text in transcribed
image text in transcribed
A firm in a perfectly competitive market has the cost function of C(O)=30+Q2. If all other firms in the same market sell output at a price (P) of $40, a. What price (P) should this firm charge? b. What output (0) should be produced to maximize its profit? c. How much profit will this firm earn

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

Step: 3

blur-text-image

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

Industrial Relations in Canada

Industrial Relations in Canada

Authors: Fiona McQuarrie

4th Edition

978-1-118-8783, 1118878396, 9781119050599 , 978-1118878392

More Books

Students also viewed these Economics questions

Question

★★★★★
The Gysbers Company Limited has embarked on a two- year pollution- control program that will require the purchase of two smokestack scrubbers costing a total of $ 600,000. One scrubber will be bought...

Answered: 1 week ago

Question

★★★★★
6.2 Match the activity with the most appropriate cost driver.

Answered: 1 week ago

Question

★★★★★
Describe the different kinds of goal orientations and examine their influences on motivation.

Answered: 1 week ago

Question

★★★★★
At December 31, 2012, Northern Corporation reported the stockholders equity accounts shown here (with dollar amounts in millions, except per-share amounts). Common stock $4.00 par value per share,...

Answered: 1 week ago

Question

★★★★★
Answer the following questions based on the information in the table. Assume a tax rate of 3 0 percent. For simplicity, assume that the companies have no other liabilities other than the debt shown....

Answered: 1 week ago

Question

★★★★★
Consider this system at equilibrium. A(aq)<--->B(aq)deltaH=-750 kJ/mol What can be said about Q and K immediately afteran increase in temperature? A) Q > K because Q increased B) Q> K...

Answered: 1 week ago

Question

★★★★★
Harold Lau will deposit enough money today so that his account will contain $20,000 in 10 years. The account will pay interest at 8% compounded semiannually. Compute the interest (in dollars) that...

Answered: 1 week ago

Question

★★★★★
Module 2: Exemplary Level (2 marks) 8) A swimmer wants to end up at a dock due north of her starting point on the south side. In still water her maximum speed is 1.25 m/s. The river has a current...

Answered: 1 week ago

Question

★★★★★
Excel File Edit View Insert Format Tools Data Window Help 11 8 ) 75% Tue 10:23 AM QE AutoSave OFF A F ? C ... SMS310 Test 2 - Student File Final Home Insert Draw Page Layout Formulas Data Review View...

Answered: 1 week ago

Question

★★★★★
A developer filed a breach of contract action against a general contractor in federal district court. If the contract was breached, the general contractor believes the fault was that of the framing...

Answered: 1 week ago

Question

★★★★★
What would be the approximate current flow in a 120 volt circuit with a 400 watt toaster and an 800 watt microwave oven attached

Answered: 1 week ago

Question

★★★★★
Which of the following statements concerning risk management is CORRECT? The objective of risk management is to choose efficiently among the methods of handling risk, to avoid a catastrophic loss....

Answered: 1 week ago

Question

★★★★★
4. Give an example of how the consistency principle can be used to influence others.

Answered: 1 week ago

Question

★★★★★
6. Give an example of how the liking principle can be used to influence others.

Answered: 1 week ago

Question

★★★★★
5. Give an example of how the consensus principle can be used to influence others.

Answered: 1 week ago

Previous Question Next Question