Reference no: EM13243371
Let there be n firms. Each firm's fixed cost is F. Afterpaying F, the firm's variable cost for producing q units is cq. Sototal cost for producing q is: TC(q)= F + cq
Average cost is TC(q) /q = F/q + c
which is declining in q.
Note that marginal cost is derivative of TC(q)/derivative of q= c.
a, If the prie of output is p>c, how much should a typical firm produce? can there be a competitive equilibrium in this case?
b, If the price of output is p<c, how much should a typical firm produce? can there be a competitive equilibrium in this case?
c. If the price of output is p=c, how much should a typicalfirm produce?
d. Let the industry demand for output be Q=A-p
where Q is total industry output. Let A > nc. Is p=c a competitive equilibrium? Will a competitive frim want to pay F to enter theindustry?
e. If there is only one firm in the industry, how much outputwill this natural monopoly want to produce? What is its profit?
|
What will be profit if entrepreneurs total revenue is given
: A firm pays in cash $250000 in wages, $55430 in interest onborrowed money capital and $74320 for the yearly rental of itsfactory building. If the entrepreneur worked for somebody else as a manager. What will be the total profit if the entrepreneur..
|
|
What percentile among human births
: The gestation period for human births can be taken as normally distributed with a mean of 266 days and a standard deviation of 16 days.If a gestation period is 276 days, what percentile among human births is this?
|
|
What frequency will the fuse burn out
: A 63.0 ?F capacitor is connected to a generator operating at a low frequency. The rms voltage of the generator is 4.00 V, at what frequency will the fuse burn out
|
|
What will happen to each of gdps components
: suppose that in one year household consumption falls by $20 billion(compared to the year before), but business firms continue to produce consumer goods at an unchanged rate. if there is no other change affecting real GDP that year
|
|
Can there be a competitive equilibrium in the case
: a, If the prie of output is p>c, how much should a typicalfirm produce can there be a competitive equilibrium in this case b, If the price of output is p
|
|
What is the tension in the string
: A small ball with a mass of 49.0g and a charge of ?0.170?C is suspended from the ceiling by a string. What is the tension in the string when the second ball is directly beneath the first ball
|
|
Chi-square goodness-of-fit test for analysis
: Determine if the values are uniformly distributed. The researcher is using the chi-square goodness-of-fit test for this analysis.
|
|
City-state of athens created this form of government
: This teacher articulated the ethical and religious ideas of Persia. Form of poetry exemplified by the Odyssey. The Mediterranean Triad was. The city-state of Athens created this form of government
|
|
Calculate the work done by the hiker against gravity
: A 75kg hiker climbs to the top of a 4100m -high mountain. The climb is made in 5.0h starting at an elevation of 3000m, Calculate the work done by the hiker against gravity
|