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solve the following questions ( handwritten solution only neatly and clean box final answer) thankyou! Assume that a firm's cost curves are given by the

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solve the following questions ( handwritten solution only neatly and clean box final answer) thankyou!

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Assume that a firm's cost curves are given by the following table. Assume that the firm is operating under perfect competition. {Graphing might help you answer this item.) a. Compilete the table. b. Suppose that market price is P30. How much will the profit-maximizing (loss-minimizing) firm produce in the short run? C. Suppose the market price is P50. How much will the profit-maximizing (loss-minimizing) firm produce in the short run? d. Suppose the market price is P10. How much will the profi-maximizing {loss-minimizing) firm produce in the short run? 2. Suppose that a single firm operating in a perfectly competitive industry has the following cost table, (All cost figures are given in Philippine peso, Graphing might help you answer this item.) OUTPUT TEC PRI 0 A a & a. Complete the table, b, Suppose the industry demand and supply curves are given by the equations P=20~-0 ?{g'd and P =2+ 0.009Q , respectively. What are the equilibrium price and equilibrium quantity in the industry? C. From the given table, what will be the equilibrium price and equilibrium quantity of the representative firm? d. Since it is a perfectly competitive industry, the firms are assumed to be identical, How many firms are in the industry? e Suppose demand increases (i.e., shifts to the right) such that the new demand equation becomes P = 21 = 0. DUGQH. The supply curve siays the same, What will be the new equilibrium price and equilibrium quantity in the indusiry? f. Again, assume that demand has increased (i.e., has shifted to the right) such that the new demand equation has become P = 21 = [, 0090 - and the supply equation is still P = 2 + 0.009Q . What is the profil-maximizing quantity for the representative firm? g Again, assume that demand has increased (i.e., has shifted to the right) such that the new demand equation has become P = 21 - 0.0099 , and the supply equation is still # = 2 + 0.009 . How much is the profit of the represemiative firm

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