Whatever the firms quantity of production ————- must exceed total cost if its to earn a...
Homework Answers
Whatever the firms quantity of production total revenue must exceed total cost if its to earn a profit.
Explanation:
A firm can earn profit only when Total revenue is greater than Total cost.
Total Profit = Total Revenue - Total Cost
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Whatever the firms quantity of production ————- must exceed total
cost if its to earn a...
a firms average total cost is 60 its average variable cost is 30 and its total...
a firms average total cost is 60 its average variable
cost is 30 and its total fixed cost is 600. its output
6 per unit A firm's average total cost is $60, its average variable cost is $30, and its total fixed cost is $600. Its output is Select one 2.20 Units b. 50 Units 30 Units od 40 Units Today, firms in a perfectly competitive market are making an economic profit in the long run, firms will market until...
17. To maximize profits, a firm must choose its quantity at the point where... a. Total...
17. To maximize profits, a firm must choose its quantity at the point where... a. Total revenue (TR) - total cost (TC). b. Marginal revenue (MR)= marginal cost (MC). c. MR-MC is maximized. d. TR is maximized. 18. For a profit maximizing monopoly that uses the same price for all its customers, which of the following is true at the monopoly's profit maximizing quantity? a. MR =P b. MC-P. c. MR>P. d. MC>P. e. MR<P
Table: Demand and Total Cost Table: Demand and Total Cost Quantity Price per (megawatts) Megawatt Total...
Table: Demand and Total Cost Table: Demand and Total Cost Quantity Price per (megawatts) Megawatt Total Cost $550 $1.000 500 1.075 450 1.200 1.375 350 1.600 300 1.875 250 2200 2.575 400 200 Use Table: Demand and Total Cost. Lenoia runs a natural monopoly firm producing electricity for a small mountain village. The table shows Lenoia's demand and total cost of producing electricity. The profit-maximizing quantity of electricity for her to produce is megawatts. O2 os Figure: The Monopolist Price,...
56,57 Exhibit 89 Marginal cost Average total cost Dollars per unit Average variable cost 92999 Quantity per period 5...
56,57
Exhibit 89 Marginal cost Average total cost Dollars per unit Average variable cost 92999 Quantity per period 56. Refer to Exhibit 8.9, which shows a perfectly competitive firm's short-run output decisions. At price Pa, the form a. produces nothing. b. produces at a specific output to minimize its short-run loss. c. earns short-run economic profit by producing at a specific output. d. is indifferent between producing and shutting down. e, produces at a specific output to earn a normal...
An industry currently has 100 firms, all of which have fixed cost of $16 and average variable cost as follows: Quantity / Average variable cost: (1/$1),(2,$2), (3,$3), (4,$4), (5,$5), and (6,$6) b
10. An industry currently has 100 firms, all of which have fixed cost of $16 and average variable cost as follows: Quantity / Average variable cost: (1/$1),(2,$2), (3,$3), (4,$4), (5,$5), and (6,$6) b. The price is currently $10. What is the total quantity supplied in the market? I think that it is zero because the currently price does meet no exceed the average total cost, which is for the quantity 1, $17. Is this correct. c. As this market makes...
A company desires to sell a sufficient quantity of products to earn a profit of $260000....
A company desires to sell a sufficient quantity of products to earn a profit of $260000. If the unit sales price is $20, unit variable cost is $12, and total fixed costs are $800000, how many units must be sold to earn net income of $260000? A. 72500 units B. 113000 units C. 216250 units D. 132500 units
Quantity (gallons) Total Cost ($) Average Total Marginal Cost Cost ($) ($/gallon) 0 9 1 10...
Quantity (gallons) Total Cost ($) Average Total Marginal Cost Cost ($) ($/gallon) 0 9 1 10 2 13 3 18 4 25 5 34 a. Compute each producer's marginal cost and average total cost for 1 to 5 gallons. b. The price of a gallon of milk is now $10. How many gallons are sold? How many gallons does each producer make? How many producers are there? How much profit does each producer earn? c. Is the situation described in...
The _________ is the rate of return a firm must earn on its investment in order...
The _________ is the rate of return a firm must earn on its investment in order to maintain the market value of its stock. Answers: gross profit margin internal rate of return net present value cost of capital
QUESTION 1 Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost...
QUESTION 1 Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 0 $24 $50 3 $108 $40 Refer to Table 13-16. What is the total cost of producing 2 units of output? a. $76 b. $50 c. $58 d. $74 Figure 14-13 Suppose a firm in a competitive industry has the following cost curves: sem MC ATC AVC Refer to Figure 14-13. If the price is $6 in the...
Sales Revenue - Quantity sold & Selling price Total Cost - Fixed cost + Total warsalle...
Sales Revenue - Quantity sold & Selling price Total Cost - Fixed cost + Total warsalle cost Net Profit - Sales Revenue - Total cost Scenario #1 Scenario #2 Retailer Revenue Diane's Delicious Donuts... Quantity Sold 25,000 30,000 Complete the table. Price $ 1.50 $ 1.50 Total Retailer Revenue 133500145 000 Which scenario would you Consumer Revenue Quantity Sold 10,000 20,000 recommend? Price $ 1.75 $ 1.75 Total Consumer Revenue 3175 00 335 ODO Total Revenue Total Fixed Cost $...
a firms average total cost is 60 its average variable
cost is 30 and its total fixed cost is 600. its output
6 per unit A firm's average total cost is $60, its average variable cost is $30, and its total fixed cost is $600. Its output is Select one 2.20 Units b. 50 Units 30 Units od 40 Units Today, firms in a perfectly competitive market are making an economic profit in the long run, firms will market until...
17. To maximize profits, a firm must choose its quantity at the point where... a. Total revenue (TR) - total cost (TC). b. Marginal revenue (MR)= marginal cost (MC). c. MR-MC is maximized. d. TR is maximized. 18. For a profit maximizing monopoly that uses the same price for all its customers, which of the following is true at the monopoly's profit maximizing quantity? a. MR =P b. MC-P. c. MR>P. d. MC>P. e. MR<P
Table: Demand and Total Cost Table: Demand and Total Cost Quantity Price per (megawatts) Megawatt Total Cost $550 $1.000 500 1.075 450 1.200 1.375 350 1.600 300 1.875 250 2200 2.575 400 200 Use Table: Demand and Total Cost. Lenoia runs a natural monopoly firm producing electricity for a small mountain village. The table shows Lenoia's demand and total cost of producing electricity. The profit-maximizing quantity of electricity for her to produce is megawatts. O2 os Figure: The Monopolist Price,...
56,57
Exhibit 89 Marginal cost Average total cost Dollars per unit Average variable cost 92999 Quantity per period 56. Refer to Exhibit 8.9, which shows a perfectly competitive firm's short-run output decisions. At price Pa, the form a. produces nothing. b. produces at a specific output to minimize its short-run loss. c. earns short-run economic profit by producing at a specific output. d. is indifferent between producing and shutting down. e, produces at a specific output to earn a normal...
Quantity (gallons) Total Cost ($) Average Total Marginal Cost Cost ($) ($/gallon) 0 9 1 10 2 13 3 18 4 25 5 34 a. Compute each producer's marginal cost and average total cost for 1 to 5 gallons. b. The price of a gallon of milk is now $10. How many gallons are sold? How many gallons does each producer make? How many producers are there? How much profit does each producer earn? c. Is the situation described in...
QUESTION 1 Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 0 $24 $50 3 $108 $40 Refer to Table 13-16. What is the total cost of producing 2 units of output? a. $76 b. $50 c. $58 d. $74 Figure 14-13 Suppose a firm in a competitive industry has the following cost curves: sem MC ATC AVC Refer to Figure 14-13. If the price is $6 in the...
Sales Revenue - Quantity sold & Selling price Total Cost - Fixed cost + Total warsalle cost Net Profit - Sales Revenue - Total cost Scenario #1 Scenario #2 Retailer Revenue Diane's Delicious Donuts... Quantity Sold 25,000 30,000 Complete the table. Price $ 1.50 $ 1.50 Total Retailer Revenue 133500145 000 Which scenario would you Consumer Revenue Quantity Sold 10,000 20,000 recommend? Price $ 1.75 $ 1.75 Total Consumer Revenue 3175 00 335 ODO Total Revenue Total Fixed Cost $...
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