Homework Answers
A) The graph represents a monopoly or a monopolistic competitive firm, because the demand curve the firm is facing is downward sloping. That means the firm has some control over pricing and can set it's own profit maximizing price, which is a characteristic of both monoply and monopolistic competition.
B) a profit maximizing Monopoly or a profit maximizing monopolistic competitive firm produces at the point where it's MR and MC curve intersects each other and sets its profit-maximizing price at the point where it's profit-maximizing quantity lies on the demand curve. For this firm, at the profit maximizing output level, price is greater than it's ATC. And therefore the firm is profitable, because if price > ATC, then total revenue > total cost.
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Vraag 2 Question 2 a) Identifiseer die tipe firma wat deur die onderstaande grafiek verteenwoordig word. Identify the type of firm represented by the graph below. b) Is hierdie firma winsgewend? / Is...
2. Use the graph below to figure out if the following price searching firm is profitable,...
2. Use the graph below to figure out if the following price searching firm is profitable, at zero economic profit, or losing money. Label the firm's demand, MC, ATC, and MR curves. Calculate the quantity of the profit or loss, and indicate what the equilibrium price and quantity is. 30 40 50 60 70 80 90 100Q
Vraag 3 Question 3 Beskou die struktuur in Figuur 2(a). Element AC word Consider the structure...
Vraag 3 Question 3 Beskou die struktuur in Figuur 2(a). Element AC word Consider the structure in Figure 2 (a). Member AC is aan BCD verbind met 'n gladde gleuf by C, soos connected to BCD by a smooth slot at C, as shown in getoon in Figuur 2(b). A is 'n skarnier ondersteuning Figure 2(b). A is a pin support and D is fixed. en D is ingeklem. Bepaal die rigting en grootte van die Determine the direction and...
The monopolistically competitive firm represented in the graph is in: MC ATC $10 $8.50 $2 MR...
The monopolistically competitive firm represented in the graph is in: MC ATC $10 $8.50 $2 MR O long-run equilibrium since it is earning zero profit. O short-run equilibrium since it is earning zero proft. O short-run equilibrium, but not long-run equilibrium since it is earning positive economic profit O long-run equilibrium, but not short-run equilibrium since it is earning positive economic profit
For a perfectly competitive market made up of firms represented in the graph below, what is...
For a perfectly competitive market made up of firms represented in the graph below, what is the long run equilibrium price of the good? Cost ($) MC ATC AVC $16 $14 $12 $10 Quantity $14 $10 $12 $16 For a perfectly competitive market made up of firms represented in the graph below, if the price is $14, Cost ($) MC ATC $16 AVC - $14 $12 $10 Quantity The firm is operating at its minimum long run average total cost....
O Clothing Wheat Cheeseburgers Cell phones Question 14 1 pts MCA $ 400 ATC 300 200...
O Clothing Wheat Cheeseburgers Cell phones Question 14 1 pts MCA $ 400 ATC 300 200 ·D=MR loo 15 20 30 Q HE ensider the graph below. What type of firm is represented in the graph? Monopoly Price maker Price taker Oligopoly Question 15 1 pts Consider the graph in the picture. Assuming the form is maximizing its profit, what quantity will it produce? se MC A 400 ATC ·D=MR 300 200 loo 15 90 30 THEI Question 16 1...
On the graph below depict the profit maximizing price and quantity for the MONOPOLISTICALLY COMPETITIVE firm...
On the graph below depict the profit maximizing price and quantity for the MONOPOLISTICALLY COMPETITIVE firm such that others are motivated to enter the industry. In your graph, you should include the following curves: D,AR,MR,ATC,S and MC.
The accompanying graph depicts a hypothetical monopoly. Follow instuctions 1-3 below to identify the monopoly's profits...
The accompanying graph depicts a hypothetical monopoly. Follow instuctions 1-3 below to identify the monopoly's profits 1. Place point E at the monopoly's profit maximizing price and quantity 2. Move the average total cost (ATC) curve to a position that depicts the monopoly earning a positive profit 3. Place the area labeled Profit in the area of the graph that represents the monopoly's profit. 10 MC Profit ATC MR 0 1 2 3 45 6 7 89 10 Quantity (millons...
100 MC Use the graph on the right to answer this question. The firm is maximizing...
100 MC Use the graph on the right to answer this question. The firm is maximizing profit if it produces units and as a result occurs. ATC O A. 110, inefficiency OB. 80; efficiency O c. 120; inefficiency OD. 120, efficiency O E. BO; inefficiency MR 0 80 100 120 140 Click to select your answer.
The graph below is for a profit-maximizing firm in monopolistic competition. Place point A at the...
The graph below is for a profit-maximizing firm in monopolistic competition. Place point A at the firm's output and price combination. Place point B at the firm's output and price combination if it were in a perfectly competitive industry. Then answer the questions. 10 MC 9 A B 8 ATC 7 6 5 4 نيا 2 1 MR Demand 0 0 1 3 6 7 00 N 9 10 4 5 Quantity What will average total cost be for the...
The graph below shows the demand (D), marginal revenue (MR), marginal cost (MC), and average total cost (ATC) curves for a supplier of bottled water to commercial buildings. The firm operates as a local monopoly. Use the area tool to draw the rectangle th
The graph below shows the demand (D), marginal revenue (MR), marginal cost (MC), and average total cost (ATC) curves for a supplier of bottled water to commercial buildings. The firm operates as a local monopoly. Use the area tool to draw the rectangle that represents the firm's profit if the market quantity is 7,000 bottles.Your answer should be a rectangle with four corners. To refer to the graphing tutorial for this question type, please click here.
2. Use the graph below to figure out if the following price searching firm is profitable, at zero economic profit, or losing money. Label the firm's demand, MC, ATC, and MR curves. Calculate the quantity of the profit or loss, and indicate what the equilibrium price and quantity is. 30 40 50 60 70 80 90 100Q
Vraag 3 Question 3 Beskou die struktuur in Figuur 2(a). Element AC word Consider the structure in Figure 2 (a). Member AC is aan BCD verbind met 'n gladde gleuf by C, soos connected to BCD by a smooth slot at C, as shown in getoon in Figuur 2(b). A is 'n skarnier ondersteuning Figure 2(b). A is a pin support and D is fixed. en D is ingeklem. Bepaal die rigting en grootte van die Determine the direction and...
The monopolistically competitive firm represented in the graph is in: MC ATC $10 $8.50 $2 MR O long-run equilibrium since it is earning zero profit. O short-run equilibrium since it is earning zero proft. O short-run equilibrium, but not long-run equilibrium since it is earning positive economic profit O long-run equilibrium, but not short-run equilibrium since it is earning positive economic profit
For a perfectly competitive market made up of firms represented in the graph below, what is the long run equilibrium price of the good? Cost ($) MC ATC AVC $16 $14 $12 $10 Quantity $14 $10 $12 $16 For a perfectly competitive market made up of firms represented in the graph below, if the price is $14, Cost ($) MC ATC $16 AVC - $14 $12 $10 Quantity The firm is operating at its minimum long run average total cost....
O Clothing Wheat Cheeseburgers Cell phones Question 14 1 pts MCA $ 400 ATC 300 200 ·D=MR loo 15 20 30 Q HE ensider the graph below. What type of firm is represented in the graph? Monopoly Price maker Price taker Oligopoly Question 15 1 pts Consider the graph in the picture. Assuming the form is maximizing its profit, what quantity will it produce? se MC A 400 ATC ·D=MR 300 200 loo 15 90 30 THEI Question 16 1...
The accompanying graph depicts a hypothetical monopoly. Follow instuctions 1-3 below to identify the monopoly's profits 1. Place point E at the monopoly's profit maximizing price and quantity 2. Move the average total cost (ATC) curve to a position that depicts the monopoly earning a positive profit 3. Place the area labeled Profit in the area of the graph that represents the monopoly's profit. 10 MC Profit ATC MR 0 1 2 3 45 6 7 89 10 Quantity (millons...
100 MC Use the graph on the right to answer this question. The firm is maximizing profit if it produces units and as a result occurs. ATC O A. 110, inefficiency OB. 80; efficiency O c. 120; inefficiency OD. 120, efficiency O E. BO; inefficiency MR 0 80 100 120 140 Click to select your answer.
The graph below is for a profit-maximizing firm in monopolistic competition. Place point A at the firm's output and price combination. Place point B at the firm's output and price combination if it were in a perfectly competitive industry. Then answer the questions. 10 MC 9 A B 8 ATC 7 6 5 4 نيا 2 1 MR Demand 0 0 1 3 6 7 00 N 9 10 4 5 Quantity What will average total cost be for the...
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