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

Question

1 Approved Answer

Tc= II .answer the following questions briefly (10 points). Question 1 and 2 based on the following information of hypothetical firm operating in perfectly competitive

Tc=

image text in transcribed
II .answer the following questions briefly (10 points). Question 1 and 2 based on the following information of hypothetical firm operating in perfectly competitive market TC= Q3-21 Q2+ 600Q+1820 P = 600 mc= 3Q-42Q + 600 1. What is profit maximizing level of output for above hypothetical firm (3pt)? 1200 2. What is maximum of profit or minimum loss at optimum output level (3pt)

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

International Political Economy

International Political Economy

Authors: Thomas Oatley

6th Edition

1138490741, 9781138490741

More Books

Students also viewed these Economics questions

Question

★★★★★
What is the heat capacity of a system consisting of (a) A 0.450-kg brass cup filled with 0.050 kg of water? (b) 7.5 kg of water in a 0.75-kg aluminum bucket?

Answered: 1 week ago

Question

★★★★★
2. identify the knowledge base for psychological skills training,

Answered: 1 week ago

Question

★★★★★
Determine the sample size required for a 95% confidence interval for the mean when (a) ???? = 20 and the desired margin of error is ???????? = 2.5. (b) ???? = 50 and the desired margin of error is...

Answered: 1 week ago

Question

★★★★★
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1 and 2. On September 1, Irene opened a retail store that specializes in sports car...

Answered: 1 week ago

Question

★★★★★
Two carpenters are discussing the building codes that apply to balconies. Carpenter A says that according to building codes, a balcony handrail for a public building must be no less than 4 2 " high....

Answered: 1 week ago

Question

★★★★★
Analyzing Inventory Disclosure Comparing LIFO and FIFO urrent asset section of the 2014 and 2013 fiscal year end balance sheets of The Kroger Co. are The c presented in the accompanying table:...

Answered: 1 week ago

Question

★★★★★
The Smart Manufacturing Company has a cycle time of 3.0 days, uses a Raw and In Process account and charges all conversion costs to Cost of Goods Sold. At the end of each month, all inventories are...

Answered: 1 week ago

Question

★★★★★
Current ROI = 18%, there is a chance to invest in a project that requires $100,000 purchase of assets, which would produce $15,000 additional net income. Should the manager invest or not invest in...

Answered: 1 week ago

Question

★★★★★
Question: Write a MATLAB script to visualize a 3D plot of a mathematical function, specifically the "Ackley's function." Ackley's function is defined as:f(x,y)=?20exp(?0.2...

Answered: 1 week ago

Question

★★★★★
a) At 1 May 2019 Troy company had 700 engines in inventory, valued at Tk. 190 each. During the year ended 30 April 2020 the following transactions took place: 2019 1 July Purchased 500 engines at TK...

Answered: 1 week ago

Question

★★★★★
Jane inherited a lot of money and wants to deposit some of it today into an investment that earns a nominal interest rate of 5% compounded semiannually. Starting immediately 10 years after the...

Answered: 1 week ago

Question

★★★★★
2. How do I perform this role?

Answered: 1 week ago

Question

★★★★★
6. List one and only one societal role that you wish you had performed better in. Spend the next month on a small push to improve your personal performance within this role. At the end of the month,...

Answered: 1 week ago

Question

★★★★★
9. Imagine that you have achieved the goal you set for yourself in task 8. a. What do you see in the past? b. How do you feel? c. What do you hear? d. How does this change your roles? e. How does...

Answered: 1 week ago

Previous Question Next Question