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A purely competitive firm finds that the market price for its product is $20. It has a fixed cost of $100 and a variable cost of $10 per unit for the first 50 units and then $25 per unit for all successive units. *Does price exceed average variable cost for the first 50 units? What about for the first 100 units?
What is the marginal cost per unit for the first 50 units? What about for units 51 and higher?
For each of the first 50 units, does MR exceed MC? What about for units 51 and higher?
What output level will yield the largest possible profit for this purely competitive firm?
What are the efficient quantities for each of the two periods? What are the correspondingprices and MUCs?
In the short run, a firm operating in a competitive industry will shut down if price is less than average total cost, less than average variable cost.
The demand for housing is often described as being highly cyclical and very sensitive to housing prices and interest rates. Given these characteristics describe the effect of each of the following terms of whether it would increase or decrease the..
Develop a budget and see what happens. Were you successful in balancing the budget? If not, how much of a deficit or surplus did you end up with? What does this exercise tell you about the process of creating a balanced budget? Reexamine the budge..
When a single seller is confronted in a market by many small buyers, monopsony power enables the buyers to obtain lower prices than those that would prevail in a competitive markets.
You inherit a package of call options on a stock currently selling for fifty three dollar. In a year, the stock could sell for anywhere between $40 and $80.
Discuss at least four characteristics of a good business and identify and talk about at least four companies that you regard as having the characteristics of good business.
Where P is the price of the product and Ps is the price of a substitute good. The price of the substitute good is $2.00. a. Suppose P = $1.00. What is the price elasticity of demand? What is the cross-price elasticity of demand?
Carl is deciding whether or not to make a farm. If he makes a farm, he will earn a $50,000 grant from the government. For every 100 head of cattle that he increase and sells.
Would a series of bank runs in a country decrease the total quantity of M1 Wouldn't a bank run simply result in funds moving from a checking account to currency in circulation How could that movement of funds decrease the quantity of money
Can you explain this to me. Scatterplot Y=Weight in April X=Weight in September Histogram (Frequency Counts) Weight in September Histogram (Relative Frequency %) Weight in September Histogram (Frequency Counts) Weight in April Histogram (Relative ..
In the middle of the decade , the party was over, and coffee wholesale prices started increasing because of some shortages caused by weather and the rising overall market prices again. Where is the new equilibrium price?
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