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Needing help with formulas for the ones not highlighted in green. thank you. attached is graph that answers were derived from. Marginal Cost, answer the
Needing help with formulas for the ones not highlighted in green. thank you. attached is graph that answers were derived from.
Marginal Cost, answer the following: 1 52) What is the profit maximizing quantity of output? 133 1 53) What is Price at the profit maximizing quantity of output? 74 1 54) What is Average Total Cost at the profit maximizing quantity? 59 1 55) What is Profit per unit at the profit maximizing quantity? 354000 1 56) What is Total Profit? 104 1 57) What is the difference between Price and Marginal Cost at Qrmax? 13000 1 58) What is the quantity of output such that Price = Marginal Cost? 364000 1 59) Using the "triangle method," estimated Deadweight Loss is? 798000 1 60) What is Total Revenue at the profit maximizing quantity? 0.4561404 1 61) What is the ratio of estimated deadweight loss to Total Revenue? C 1 62) What "market structure" is this most likely representative of? a) Perfect Competition b) Monopolistic Competition c) Monopoly 1 63) What is the value of the Lerner Index? 1 64) What is the value of the elasticity of demand at Qimax? 1 65) What is the Mark-up Factor? 1 66) What is the producted of the Mark-up Factor times MC at Qrmax? 1 67) T/F The is the same value as the Price at Qrmax. As a regulated industry, the regulator would have to recognize that forcing price=mc would generate losses in the long run. So, it opts to charge price equal to ATC, and we can see in the diagram that P=ATC at about Q=11,000 with Price = 47 approximately and MC = 6. 1 68) If this firm was regulated to charge a price equal to average total cost, what would be the approximate value of Deadweight Loss? 1 69) What would be the ratio of Deadweight Loss to Total Revenue if the firm was forced to price at ATC?260 250 240 230 220 210 200 190 180 170 160 150 140 -ATC $ per Unit 130 .MC 120 -Price=AR 110 100 . MR 90 80 o 6 8 8 6 8 8 8 0 5000 10000 15000 20000 25000 30000 35000 Quantity of Ouptut per unit of timeStep by Step Solution
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