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Needing help with the ones not highlighted in green. thank you For the Diagram of Average and Marginal Revenue and Average Total Cost and 260
Needing help with the ones not highlighted in green. thank you
For the Diagram of Average and Marginal Revenue and Average Total Cost and 260 Marginal Cost, answer the following: 250 240 6000 52) What is the profit maximizing quantity of output? 230 220 133 53) What is Price at the profit maximizing quantity of output? 210 74 54) What is Average Total Cost at the profit maximizing quantity? 200 190 59 55) What is Profit per unit at the profit maximizing quantity? 180 170 354000 1 56) What is Total Profit? 160 150 104 1 57) What is the difference between Price and Marginal Cost at Q.max? 140 -ATC $ per Unit 130 13000 58) What is the quantity of output such that Price = Marginal Cost? MC 120 -Price=AR 364000 59) Using the "triangle method," estimated Deadweight Loss is? 110 100 MR 798000 60) What is Total Revenue at the profit maximizing quantity? 90 80 0.45614 1 61) What is the ratio of estimated deadweight loss to Total Revenue? 70 60 62) What "market structure" is this most likely representative of? 50 a) Perfect Competition 40 b) Monopolistic Competition 30 c) Monopoly 20 10 1 63) What is the value of the Lerner Index? 0 0 5000 10000 15000 20000 25000 30000 35000 1 64) What is the value of the elasticity of demand at Qrmax? Quantity of Ouptut per unit of time 1 65) What is the Mark-up Factor? 1 66) What is the producted of the Mark-up Factor times MC at Q,max?1 66) What is the producted of the Mark-up Factor times MC at QTmax? 1 67) T/F The is the same value as the Price at Ormax. 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 ATCStep by Step Solution
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