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Answer both please!
Especially part B for the long runsupply function!
4. [20 points) A profit-maximizing...
VC. ( points) 2. (5 points) At its current level of production, a profit-maximizing firm in...
VC. ( points) 2. (5 points) At its current level of production, a profit-maximizing firm in a competitive market verage total cost of $8. At the market receives $12 for each unit it produces and faces an a price of $12 per unit, the firm's marginal cost curve crosses the marginal revenue curve at an output level of 500 units. (a) What is the firm's current profit or los? Explain. (1 point) ( Draw an bel a graph of the...
PART VI. Problems. Solve the following problems. Please show your work, especially how you calculate a)...
PART VI. Problems. Solve the following problems. Please show your work, especially how you calculate a) marginal revenue, the b) profit maximizing quantity and price, c) the Cournot reaction function [best response functions) and the Stackelberg model. (3 points for each problem.) 33. A regulated monopoly faces the following demand for its product, P = 68 - 4Q, and has a marginal cost of MC = 20. Q is the quantity sold and P is the price. a. Under regulation,...
For each of the following scenarios, analyze the short run impact on both the profit-maximizing price...
For each of the following scenarios, analyze the short run impact on both the profit-maximizing price charged andthe profit-maximizing quantity produced and sold by the firm. Briefly explain each answer. Draw a separate, fully-labeled diagram for each scenario. Each diagram mustinclude the firm’s initial MC, AC, and MR lines, as well as any new lines that change as a result of what is given in the question. Be sure to indicate the initial and final profit maximizing price and output...
The long-run market supply curve is Choose one :A. downward sloping. B. vertical at the profit-maximizing...
The long-run market supply curve is
Choose one
:A. downward sloping.
B. vertical at the profit-maximizing output level.
C. horizontal at the market price.
D. upward sloping.
Price MC ATC Price P= min. ATC MR -------- 9 Firm's quantity (9) (a) Individual Firm Market quantity (Q) (b) Market We were unable to transcribe this image
please please help me! one long problem and some vocab (For this question you have 20...
please please help me! one long problem and some vocab
(For this question you have 20 attempts) Throughout this problem assume that for an industry aggregate demand is given by: QP) - 900 - 50p Also, each firm in the industry has a production function of f(k)= Vik. Each firm has a short run capital stock of 100 units and r6. Initially, we 2. a. Find the firm's short run cost function in the first box put the variable costs...
If the profit-maximizing output for the monopoly firm below is Q=4, what is the marginal revenue...
If the profit-maximizing output for the monopoly firm below is Q=4, what is the marginal revenue at Q=4? Quantity Q Marginal Revenue MR Marginal Cost MC Marginal Profit MP 1 1,250 500 750 2 1,000 250 750 3 650 200 450 4 ? 175 0 5 0 250 −250
for context: Problem 1 Consider the production function + (e) Plot the long-run and short-run marginal...
for context:
Problem 1 Consider the production function + (e) Plot the long-run and short-run marginal cost curves. (f) At the point at which they intersect, is the long-run supply curve or the short-run supply curve more elastic? Problem 1 Consider the production function + (a) Assume for parts (a)-(d) that we are in the long run. Suppose the factor prices are wi = wy = 1. Show that the cost function is equal to (b) Suppose the market price...
Part E-H Assume a profit-maximizing monopolist faces a market demand given by P = (12,000 –...
Part E-H Assume a profit-maximizing monopolist faces a market demand given by P = (12,000 – 90Q)/100 and long run total and marginal cost given by LRTC = 5Q + Q2 + 40 (Note: The answer to this question must be hand-written.): a) Find the equation of the marginal revenue curve corresponding to the market demand curve. b) Find the equation for the marginal cost function. c) Find the profit-maximizing quantity of output for the monopoly and the price the...
Please answer parts F, G, H, I. Thank you in advance MC=5 4. (51 points) The...
Please answer parts F, G, H, I.
Thank you in advance
MC=5 4. (51 points) The inverse demand function a monopoly faces is P = 100 – Q. The firm's cost curve is TC(Q) = 10 +5Q (a) (3 points) What is the monopolist's marginal revenue curve? TR=(P)(Q) TR=(100-Q)(Q) MR=100-2Q (b) (3 points) What is the monopolist’s marginal cost curve? (c) (3 points) What level of output maximizes the monopolist's profits? MR=MC -> 100-2Q=5 –> Q=47.5 Units (d) (4 points)...
At the profit-maximizing output, total fixed cost MC MR ATC b AVC hkn Output Multiple Choice...
At the profit-maximizing output, total fixed cost MC MR ATC b AVC hkn Output Multiple Choice is fgab. is Ogan. is ba Dollars Saved If a perfectly competitive firm is producing at the P MC output and realizing an economic profit, at that output Multiple Choice marginal revenue is less than price. marginal revenue exceeds ATC. ATC is being minimized. total revenue equals total cost. The average total cost curve for a perfectly competitive firm. Suppose the marginal cost curve...
VC. ( points) 2. (5 points) At its current level of production, a profit-maximizing firm in a competitive market verage total cost of $8. At the market receives $12 for each unit it produces and faces an a price of $12 per unit, the firm's marginal cost curve crosses the marginal revenue curve at an output level of 500 units. (a) What is the firm's current profit or los? Explain. (1 point) ( Draw an bel a graph of the...
PART VI. Problems. Solve the following problems. Please show your work, especially how you calculate a) marginal revenue, the b) profit maximizing quantity and price, c) the Cournot reaction function [best response functions) and the Stackelberg model. (3 points for each problem.) 33. A regulated monopoly faces the following demand for its product, P = 68 - 4Q, and has a marginal cost of MC = 20. Q is the quantity sold and P is the price. a. Under regulation,...
The long-run market supply curve is
Choose one
:A. downward sloping.
B. vertical at the profit-maximizing output level.
C. horizontal at the market price.
D. upward sloping.
Price MC ATC Price P= min. ATC MR -------- 9 Firm's quantity (9) (a) Individual Firm Market quantity (Q) (b) Market We were unable to transcribe this image
please please help me! one long problem and some vocab
(For this question you have 20 attempts) Throughout this problem assume that for an industry aggregate demand is given by: QP) - 900 - 50p Also, each firm in the industry has a production function of f(k)= Vik. Each firm has a short run capital stock of 100 units and r6. Initially, we 2. a. Find the firm's short run cost function in the first box put the variable costs...
for context:
Problem 1 Consider the production function + (e) Plot the long-run and short-run marginal cost curves. (f) At the point at which they intersect, is the long-run supply curve or the short-run supply curve more elastic? Problem 1 Consider the production function + (a) Assume for parts (a)-(d) that we are in the long run. Suppose the factor prices are wi = wy = 1. Show that the cost function is equal to (b) Suppose the market price...
Please answer parts F, G, H, I.
Thank you in advance
MC=5 4. (51 points) The inverse demand function a monopoly faces is P = 100 – Q. The firm's cost curve is TC(Q) = 10 +5Q (a) (3 points) What is the monopolist's marginal revenue curve? TR=(P)(Q) TR=(100-Q)(Q) MR=100-2Q (b) (3 points) What is the monopolist’s marginal cost curve? (c) (3 points) What level of output maximizes the monopolist's profits? MR=MC -> 100-2Q=5 –> Q=47.5 Units (d) (4 points)...
At the profit-maximizing output, total fixed cost MC MR ATC b AVC hkn Output Multiple Choice is fgab. is Ogan. is ba Dollars Saved If a perfectly competitive firm is producing at the P MC output and realizing an economic profit, at that output Multiple Choice marginal revenue is less than price. marginal revenue exceeds ATC. ATC is being minimized. total revenue equals total cost. The average total cost curve for a perfectly competitive firm. Suppose the marginal cost curve...
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