Competes in perfectly competitive market

Assignment Help Business Economics
Reference no: EM131378488

If Will’s Print Shop competes in a perfectly competitive market and he charges $10 per printing job, what is the marginal revenue of his 3rd print job?

a) $3.33

b) $10.00

c) $30.00

d) Between $10.00 and $30.00

If Mara’s Puzzle Factory is operating at a quantity in which the marginal revenue from the last puzzle produced is $20, marginal cost is $15, and average total cost is $10. What should Mara do to maximize profits?

a) Leave her production exactly where it is because she is clearly earning a profit.

b) Decrease her production of puzzles.

c) Increase her production of puzzles.

d) Shut down her business because it is losing money.

Reference no: EM131378488

Questions Cloud

Business venture must develop comprehensive business plan : A New Business Venture must develop a comprehensive business plan to borrow money to get started. companies such as FedEx, Nike, and Rolm Corporation say they did not follow the original plan cosely. Does that mean that developing the plan was a wast..
What is the profit maximizing quantity : A firm's production function is qi = 2Li + 10Ki. Assume both variables can be adjusted, even in the short run (for instance, making an item by hand versus using a machine to do so). What is the firm's cost function. Now suppose the output price is $8..
The political business cycle refers : The political business cycle refers to
Provide for markets to survive and function efficiently : Most economists agree that markets do a good job of organizing trade, domestic and foreign. What conditions must a government provide for markets to survive and function efficiently?
Competes in perfectly competitive market : If Will’s Print Shop competes in a perfectly competitive market and he charges $10 per printing job, what is the marginal revenue of his 3rd print job? If Mara’s Puzzle Factory is operating at a quantity in which the marginal revenue from the last pu..
Analysis of potential supply chain locations : Briefly describe what we mean by an EPIC analysis of potential supply chain locations. Explain your answer in terms of the countries that you analyzed for your tests and projects.
Explain marketing strategy in terms of the interplay : Explain marketing strategy in terms of the interplay between culture and human nature. Start with the premise that the intent of marketing strategy is to influence the behavior of potential customers and the premise that human nature has much in comm..
Find the firm short run cost function : A firm's production function is qi = 0.2*Ki^(0.6)Li^(0.4). The wage rate in this area is w = $15, and the cost of capital is r = .05. Find the firm's short run cost function, if Ki is fixed at $100,000. If the good is exported around the world at a p..
Should jared shut down his business immediately : Jared runs a personal training studio and earned $5,000 last month. His fixed costs are $4,000 and variable costs are $3,500. Should Jared shut down his business immediately? Dimitri has several apple trees in his yard, and apples are a perfectly com..

Reviews

Write a Review

Business Economics Questions & Answers

  A tax on imports of electronic equipment is an example

Macroeconomic analysis is concerned with: The demand curve for a product would shift to the left if: The cost of a purchase or action measured in item of its foregone alternative is? Suppose the economy is experiencing inflation. Which of the followi..

  Evaluate the relative importance of economies of scale

Evaluate the relative importance of economies of scale and comparative advantage in causing the following.

  Think about the demand for college education

Take a minute to think about the demand for college education and whether or not the costs of attending college (not just tuition, but also some of the opportunity costs associated with attendance) influences the number of students who attend college..

  What was the absolute amount of increase in real income

What was the absolute amount of increase in real income? - Make your calculations of the percentage change in real income and the absolute change in real income using the approximation formula and using the more precise method with index numbers.

  Considering using some debt-capital structure

Gator Fabrics Inc. currently has zero debt (i.e., wd = 0). It is a zero growth company, and additional firm data are shown below. Now the company is considering using some debt, moving to the new capital structure indicated below. If this plan were c..

  Withdrawal occurs at end of six months after his retirement

Sam musso is planning to retire in 15 years. he can deposit money at 8% compounded quarterly. What deposit must he make at the end of each quarter until he retires so that he can make a withdrawal of $45,000 semiannually over five years after his ret..

  Corporations expanded impressively in number

From 1970 to 1983, corporations expanded impressively in number, receipts, and assets. In numbers and receipts, at least, the picture is dominated by firms with assets no more than one million dollars. If the proportion of output produced by large fi..

  Q1 1 herzberg concluded that pay was not a motivator if you

q1. 1. herzberg concluded that pay was not a motivator. if you were paid to get better grades would you be motivated to

  What will happen if this market moves to new equilibrium

If Starbucks demand and supplies for premium coffee (one-pound bag) are in equilibrium and demand rises substantially. Illustrate what will happen if this market moves to new equilibrium.

  Most profoundly affect that business and why

Pick any public company and discuss which 2 or 3 macroeconomic indicators which would most profoundly affect that business and why.

  What will be the clarke tax paid by each person

There are three individuals in a community that is deciding whether to unveil a statue of Elvis. Individual 1 would receive a net benefit of 25 if the statue were unveiled. Individual 2's net benefit would also be positive and would be 20. What will ..

  Find the unique pure-strategy nash equilibrium

Bribes: Two players find themselves in a legal battle over a patent. The patent is worth 20 to each player, so the winner would receive 20 and the loser 0. Given the norms of the country, it is common to bribe the judge hearing a case.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd