How much firm will produce in a perfectly competitive market

Reference no: EM13223442

A firm in a perfectly competitive market will produce 0 output in the short run if the price in below $20 but will produce if the price is above $20. The smallest quantity they will produce in the short run is 6. The minimum of ATC is $447.75 at a quantity of 21. The fixed cost is $6615.

Reference no: EM13223442

Questions Cloud

Describe ammonium nitrate and water : Instant cold packs, often used to ice athletic injuries on the field, contain ammonium nitrate and water separated by a thin plastic divider. When the divider is broken, the ammonium nitrate dissolves according to the following endothermic reactio..

Define what is the molarity of the stock solution of luminol : The forensic technician at a crime scene has just prepared a luminol stock solution by adding 10.0 g of luminol to H2O creating a solution with a total volume of 75.0 mL. What is the molarity of the stock solution of luminol?

How does the subsidy affect the total number of miles run : Suppose the Government decides to subsidize exercise by $2 for every mile (Q) consumers run at a health club that charges by the mile. The current demand for running is Q=12-2p. The supply of miles available by the track owners is S=2p.

Explain atmosphere composed exclusively of the unknown : A flask is filled with vapor by boiling a volatile unknown liquid in the foil covered flask. As it boils away, the vapor of the unknown pushes the air out of the flask through a tiny pinhole opening and eventually the flask is filled with an atmos..

How much firm will produce in a perfectly competitive market : A firm in a perfectly competitive market will produce 0 output in the short run if the price in below $20 but will produce if the price is above $20. The smallest quantity they will produce in the short run is 6. The minimum of ATC is $447.75

Explain the flask is filled with an atmosphere composed : A flask is filled with vapor by boiling a volatile unknown liquid in the flask. As it boils away, the vapor of the unknown pushes the air out of the flask through a tiny pinhole opening and eventually the flask is filled with an atmosphere compose..

What would b export in david ricardos world : Country A has 1200 units of labor and can produce two goods, manufactures and food. A producers take 1 units of labor to produce one unit of manufactures and 3 units to produce one unit of food. Country B has 2100 units of labor and takes 3 units ..

Process of change used by your case organisation : Review critically the process of change used by your case organisation and demonstrate you understanding of different change strategies through reviewing the case; identifying an alternative model, applying and evaluating it.

Explain a zinc oxide-chromium oxide catalyst : A 2.0 L-reaction flask initially contains 0.04 mol CO, 0.23 mol H2, and 0.60 mol CH3OH (methanol). If this mixture is brought in contact with a zinc oxide-chromium(III) oxide catalyst, the equilibrium shown below is attained.

User Account

All Pages