need help with 6,7,8,9
need help with 6,7,8, and 9
Homework Answers
6) TFC = (ATC-AVC)*Q = 9-6*4 = 12
7) Profit = (P-ATC)*Q = 11-9*4 = 8
8) Produce as the Price is greater than ATC
9) 
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need help with 6,7,8,9
need help with 6,7,8, and 9
cro - Unit 5 Name: 1)...
1) This monopolist earns $________profit per unit (numeric and sign) when it maximizes its profit. 2)...
1) This monopolist earns $________profit per
unit (numeric and sign) when it maximizes its
profit.
2) What time period of production is this monopolist operating
in?
a) Short run
b) market period
c) long run
d) short or long run
3) Which of the following best describes what the monopolist
should do in this situation?
a) Raise its price.
b) Lower its price.
c) It should...
only need questions B,C, D, and E done. 1. A. Fill in the remaining spaces in...
only need questions B,C, D, and E done.
1. A. Fill in the remaining spaces in the table below MR MC Profit FC VC TR ATC AVC Q P TC $9 $0 $0 -$9 0 $5 $9 $5 $5 1 $10 $9 $1 $1 1.5 2 2 2 $5 $12 $9 $5 3 $5 $9 $6 $15 $3 $2 20 4 4 $5 $19 $9 D $4.75 2.5 $5 $24 $9 15 4.8 3 $1 6 $30 $9 Z $5...
1) A perfectly competitive firm faces the following Total revenue, Total cost and Marginal cost functions:...
1) A perfectly competitive firm faces the following Total revenue, Total cost and Marginal cost functions: TR = 10Q TC = 2 + 2Q + Q2 MC = 2 + 2Q At the level of output maximizing profit , the above firm's level of economic profit is A) $0 B) $4 C) $6 D) $8 *Additional information after I did the math: The price this firm charges for its product is $10, the level of output maximizing profit is 4...
Price/Cost ($) 7) Monopoly II (6 points) The marginal costs (MC), average variable costs (AVC), and...
Price/Cost ($) 7) Monopoly II (6 points) The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a monopoly are shown in the figure below. The figure also shows the demand curve (D) and the marginal revenue curve (MR) for this market. 501 ATC AVC a. What is the firm's profit-maximizing level of output? Label this on the graph. b. What price will the monopolist charge for that level of output? Label this on the graph....
Question 1 (3 points) MC ATC AVC QIQ2 03 04 05 Quant Answer the following questions...
Question 1 (3 points) MC ATC AVC QIQ2 03 04 05 Quant Answer the following questions with respect to the graph above: 1. The profit-maximizing quantity when price = P4 is at 2. Shade the region that represents total revenue when price = P4 3. The firm will decide to shut-down in the short-run, if the price fell below 4. The firm will decide to exit in the long-run, if the price fell below 5. The firm will earn zero-profits...
Question 49 1 pts Dollars per unit MC $40 36 ATC 32 28 24 20 16...
Question 49 1 pts Dollars per unit MC $40 36 ATC 32 28 24 20 16 D MR = AR ン/AVC 12 4 100 150 200 250 Quantity This diagram most likely represents what market structure? could represent all excent a perfect.competition AA itEN i 28 D MR = A 24 AVC 20 16 12 150 100 200 250 Quantity This diagram most likely represents what market structure? could represent all except a. perfect competition oligopoly monopolistic competition perfect competition...
A monopoly has a constant marginal cost of production of $4 per unit and no fixed...
A monopoly has a constant marginal cost of production of $4 per unit and no fixed costs. In the figure to the right, let D be demand and MR be marginal revenue. 1.) Using the line drawing tool graph the monopoly's marginal cost curve. Label this curve 'MC! 2.) Using the line drawing tool, graph the monopoly's average variable cost curve. Label this curve 'AVC.' 3.) Using the line drawing tool, graph the monopoly's average cost curve. Label this curve...
A monopoly has a constant marginal cost of production of $2 per unit and no fixed...
A monopoly has a constant marginal cost of production of $2 per unit and no fixed costs. In the figure to the right, let D be demand and MR be marginal revenue. TTT 1.) Using the line drawing tool, graph the monopoly's marginal cost curve. Label this curve 'MC.' 2.) Using the line drawing tool, graph the monopoly's average variable cost curve. Label this curve 'AVC.' p, $ per unit 3.) Using the line drawing tool, graph the monopoly's average...
SECTION NAME PRINT LAST NAME, FIRST NAME PERFECT COMPETITION Use the graph for a perfectly competitive...
SECTION NAME PRINT LAST NAME, FIRST NAME PERFECT COMPETITION Use the graph for a perfectly competitive firm to answer questions 1 through 10. Price (P) MC 10.00 ATC 8.75 8.00 7.75 7.50 AVC 250 300 440 500 Quantity If price - $10, the profit-maximizing/loss-minimizing level of output is (1) total revenue is equal to (2) $_ -, total cost is equal to (3) $_ and the firm earns economic profit equal to (4) $_ If price = $7.50, the profit-maximizing/loss-minimizing...
Consider the graph above. If this company produces at the profit maximizing/loss minimizing level of output,...
Consider the graph above. If this company produces at the profit
maximizing/loss minimizing level of output, it will experience
_____ and should _____.
economic profit, continue doing business
economic profit, shut down
zero economic profit, continue doing business
zero economic profit, shut down
economic loss, continue doing business
economic loss, shut down
$70 $65 $60 $55 $50 $45 $40 $35 $30 $25 $20 $15 $10 $5 ATC MiC AVC MR 0 1 2 3 4 5 6 7 8 9...
1) This monopolist earns $________profit per
unit (numeric and sign) when it maximizes its
profit.
2) What time period of production is this monopolist operating
in?
a) Short run
b) market period
c) long run
d) short or long run
3) Which of the following best describes what the monopolist
should do in this situation?
a) Raise its price.
b) Lower its price.
c) It should...
only need questions B,C, D, and E done.
1. A. Fill in the remaining spaces in the table below MR MC Profit FC VC TR ATC AVC Q P TC $9 $0 $0 -$9 0 $5 $9 $5 $5 1 $10 $9 $1 $1 1.5 2 2 2 $5 $12 $9 $5 3 $5 $9 $6 $15 $3 $2 20 4 4 $5 $19 $9 D $4.75 2.5 $5 $24 $9 15 4.8 3 $1 6 $30 $9 Z $5...
Price/Cost ($) 7) Monopoly II (6 points) The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a monopoly are shown in the figure below. The figure also shows the demand curve (D) and the marginal revenue curve (MR) for this market. 501 ATC AVC a. What is the firm's profit-maximizing level of output? Label this on the graph. b. What price will the monopolist charge for that level of output? Label this on the graph....
Question 1 (3 points) MC ATC AVC QIQ2 03 04 05 Quant Answer the following questions with respect to the graph above: 1. The profit-maximizing quantity when price = P4 is at 2. Shade the region that represents total revenue when price = P4 3. The firm will decide to shut-down in the short-run, if the price fell below 4. The firm will decide to exit in the long-run, if the price fell below 5. The firm will earn zero-profits...
Question 49 1 pts Dollars per unit MC $40 36 ATC 32 28 24 20 16 D MR = AR ン/AVC 12 4 100 150 200 250 Quantity This diagram most likely represents what market structure? could represent all excent a perfect.competition AA itEN i 28 D MR = A 24 AVC 20 16 12 150 100 200 250 Quantity This diagram most likely represents what market structure? could represent all except a. perfect competition oligopoly monopolistic competition perfect competition...
A monopoly has a constant marginal cost of production of $4 per unit and no fixed costs. In the figure to the right, let D be demand and MR be marginal revenue. 1.) Using the line drawing tool graph the monopoly's marginal cost curve. Label this curve 'MC! 2.) Using the line drawing tool, graph the monopoly's average variable cost curve. Label this curve 'AVC.' 3.) Using the line drawing tool, graph the monopoly's average cost curve. Label this curve...
A monopoly has a constant marginal cost of production of $2 per unit and no fixed costs. In the figure to the right, let D be demand and MR be marginal revenue. TTT 1.) Using the line drawing tool, graph the monopoly's marginal cost curve. Label this curve 'MC.' 2.) Using the line drawing tool, graph the monopoly's average variable cost curve. Label this curve 'AVC.' p, $ per unit 3.) Using the line drawing tool, graph the monopoly's average...
SECTION NAME PRINT LAST NAME, FIRST NAME PERFECT COMPETITION Use the graph for a perfectly competitive firm to answer questions 1 through 10. Price (P) MC 10.00 ATC 8.75 8.00 7.75 7.50 AVC 250 300 440 500 Quantity If price - $10, the profit-maximizing/loss-minimizing level of output is (1) total revenue is equal to (2) $_ -, total cost is equal to (3) $_ and the firm earns economic profit equal to (4) $_ If price = $7.50, the profit-maximizing/loss-minimizing...
Consider the graph above. If this company produces at the profit
maximizing/loss minimizing level of output, it will experience
_____ and should _____.
economic profit, continue doing business
economic profit, shut down
zero economic profit, continue doing business
zero economic profit, shut down
economic loss, continue doing business
economic loss, shut down
$70 $65 $60 $55 $50 $45 $40 $35 $30 $25 $20 $15 $10 $5 ATC MiC AVC MR 0 1 2 3 4 5 6 7 8 9...
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