100 МС 80 ATC 60 AVC 40 20 D MR 1,000 2,000 3,000 4,000 5,000 ioaso puD sonuoA

Q: assuming that the cd manufacturing business is a perfectly competitive industry, explain why his…

A: Perfect competition: It refers to that competition in which the firms are of small numbers and the…

Q: Suppose the market for microwave ovens is perfectly competitive. Also suppose a firm that produces…

A: Given information, Fixed cost= 100 ATC at 200 units= 200 ATC at 201 units= 201 Selling price= 500…

Q: You are given the following cost data: The total fixed costs are $100. (Photo) If the price of…

A: Total cost: It means the actual cost incurred in the production of a given level of output.

Q: The firm shown in the diagram above is making a in the short run of

A: option first is right answer Loss,       $200 Other option are invalid Answer show  below

Q: Use the following graph to answer the next question. MC ATC AVC 1.25 1.05 .90 .80 .65 .60 15 20 35…

A: Given: Market price = $1.25 Output produced at this price = 20 units  ATC corresponding to this…

Q: If you have the following table that shows the costs of certain firm Variable costs Total cost…

A: Microeconomics deals with the firms and their behaviour individually. The costs and benefits and the…

Q: Briefly explain what is meant by: 1) account profit; 2) economic profit; and 3) zero economic…

A: 1. Accounting Profit: The accounting profit refers to the profit that comes after subtracting the…

Q: 1. Consider the following information about a business Rodriguez opened last year: price = $5;…

A: Accounting profit refers to the income the owner of a business firm, i.e. the fourth factor of…

Q: Suppose Larry runs a small business that manufactures shirts. Assume that the market for shirts is a…

A: In perfectly competitive markets, there are many sellers which produce homogenous good and sells…

Q: Briefly explain using a graph whether given statement is true or false. ‘To maximise profit, a firm…

A: The perfectly competitive firm is a price taker and can sell any quantity of commodity at the market…

Q: The following table shows the total revenue and total cost of a firm at the various quantities of…

A: Total cost is the sum of all the costs that a firm incurs for the production of a good. The total…

Q: The following table shows the output and total cost for a firm in a purely competitive industry…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: Explain the condition when an imperfectly competitive firm earns an abnormal profit with the help of…

A: Meaning of Monopoly: The term monopoly refers to the situation under which there is only an…

Q: According to the graph below, the firm doesn't make a profit when the quantity exceeds what value?…

A: Profit is the difference between the total revenue and and total cost.

Q: Consider the following information about a business Rodriguez opened last year: price = $5; quantity…

A: Profits are calculated by taking the difference between the total revenue that is earned and the…

Q: Use the following to answer questions 8-9: Refer to the short-run graph below. Total fixed cost for…

A: Total fixed costs are the total of all fixed expenses incurred by a company. Fixed costs are…

Q: You own four firms that produce different products. The following table summarizes the conditions in…

A: In the given table, cost and revenue functions of four firms are given according to which firms will…

Q: Complete table b. Calculate the total fixed cost for the firm  c. Is the firm operating in the…

A: The solution is given below

Q: The graph shows the market for Mickey's Mountain Bikes. 1. What is the profit-maximizing output per…

A: MR and AR curve is downward sloping curve which means more of good only can be sold with low price .…

Q: Suppose a resturant in a city making above normal profit in the short run. How will the market…

A: A restaurant is operating in a monopolistic competitive market structure.

Q: The following graph summarizes the demand and costs for a firm that operates in a perfectly…

A: (a)   A firm can maximize its profit by producing at the level where its marginal cost become equal…

Q: If Conagra is a competitive firm, it will never operate at an output where its average total cost…

A: Perfect competitive firm is the firm which work in the industry where number of firms are working…

Q: 1) Use the graph to answer the question below. The quantity is measured in thousands of units.…

A: As per the guidelines answer is given to the first question. (1) As per the diagram given in…

Q: 1] Briefly explain under what conditions would the total cost curve be horizontal.

A: (Since you have asked many questions, we will solve the first one for you. If you want any specific…

Q: Calculate Felix's marginal revenue and marginal cost for the first seven frying pans he produces and…

A: We are going to use microeconomic concepts such as profit maximisation, perfect competition to…

Q: This article about the closing of Sports Authority stores provides some rationale for why the chain…

A: The equilibrium price and quantity of a good sold in the competitive market are determined by the…

Q: If you have the following table that shows the costs of certain firm Quantity (Q) Fixed cost…

A: Fixed cost is the cost which does not change with the change in the output level. Variable cost is…

Q: Suppose at the level of output q = 100, the average variable cost is $7/unit, the marginal cost is…

A: Given information: Output q = 100 Average variable cost AVC= $7 per unit Marginal cost MC= $8 per…

Q: you read in a business magazine that the computer firms are reaping high profits. with the theory of…

A: In a perfectly competitive market, the new firms and easily join or leave the market. Basically, the…

Q: Georgia quit her old job where she had been earning $50,000 a year to start her own business. She…

A: Explicit cost: It is the actual monetary expenditure made during the operation of a business.…

Q: 9. You are given the following cost data: TFC TVC 12 12 5 2 12 9 3 12 14 4 12 20 5 12 28 12 38 If…

A: Fixed cost is the cost that is incurred that does not relies on the level of production, when the…

Q: Consider the following information about a business Rodriguez opened last year: price = $5; quantity…

A: Accounting profit is the net income created by a company. Accounting benefit is a company's net…

Q: A firm’s cost curves are given in the following table. (Photo) Complete the table. If the total…

A: Cost refers to the overall value of goods and services that producers spent in order to produce the…

Q: Using the attached graph to answer the following questions:   Notes: MC is marginal cost, MR is…

A: Based on this graph above, The market price point would be where MR = MC and when we extend the line…

Q: QUESTION 9 Using the graph below, determine if the firm should shut down or stay open in the short…

A: according to diagram MR>MC. Revenue is more than its variable and fixed costs.  Hence the firm…

Q: Suppose that a small hair styling salon had revenues of $200,000 in a given year. The owner spent…

A: The economic profit is broader term and it considers the opportunity cost as well.

Q: The following table shows partial cost information of White T-shirt Manufacturing Company. The…

A: A partial cost information is given in the table.The table can be shown below:

Q: 'In the short run, the firm should shut down only if the price is less than average variable cost''…

A: This statement is absolutely correct.

Q: Using the graph below, determine if the firm should shut down or stay open in the short run. MC ATC…

A: Economic profits are those which are earned by the excess of revenue over the costs in a business.

Q: Suppose Sophia sells flowers in a perfectly competitive market and always maximizes profit. (a)…

A: (a)Firms under perfect competition cannot influence price at which goods are sold in market. Thus,…

Q: 3. Given information in the following table: Quantity Price (RM) Total Cost 60 18 58 20 3 54 24 4 48…

A: "Since you have asked a question with multiple sub-parts, we will solve first three sub-parts for…

Q: The following graph shows the short-run average total cost curves and the long-run average cost…

A: The average total cost curve provides information about the per-unit cost incurred when a producer…

Q: Using the graph below, determine if the firm should shut down or stay open in the short run and why.

A: From the graph it is easy to understand the firm is earning profit or in a position of facing loss.

Q: ving graph shows Eileen's total cost curve. lue points (circle symbol) to plot total revenue and the…

A: Q = quantity  TC = total cost TR = total revenue  MC = marginal cost  MR = marginal revenue