What level of output will the firm produce

Assignment Help Macroeconomics
Reference no: EM13331502

In a perfectly competitive market suppose that a competitive firm's marginal cost of producing output q is given by MC(q)=3+2q. Assume that the market price of the product is $9:

A.What level of output will the firm produce?

Reference no: EM13331502

Questions Cloud

Explain what is the product after these three decays : As part of its decay process, the radioactive isotope of polonium 214Po undergoes successive emissions of one alpha particle and two beta particles. What is the product after these three decays
The marginal propensity to consume is the amount that : Suppose that the MPC has a value of 0.95. If this is true, then a $10 million increase in disposable income (YD) will have what impact on the value of total consumption in the economy?
Explain your answer using proper economic terms and analysis : Your boss offers you a wage increase of 10 percent. Is it possible that you are worse off with the wage increase than you were before? Explain your answer using proper economic terms and analysis
Is ac minimized for competition : Does LRMC =MR for Competition? Does LRMC =MR for Monop. Competition? Does LRMC =MR for Oligopoly? Does LRMC =MR for Monopoly? Does P=AC for Competition?
What level of output will the firm produce : In a perfectly competitive market suppose that a competitive firm's marginal cost of producing output q is given by MC(q)=3+2q. Assume that the market price of the product is $9:
What is the minimu value of cost : A decision maker wishe to minimize the cost of producing a given level of total benefit, B = 288. The cost function is C = 6x + 3y and the total benefit is B = xy. Set up the Lagrangian adn then determine the levels of x and y at the minimum level of..
Determine the power loss in wire : Household wiring made of aluminum wire with cross-section area 3.1 x 10^-6 m^2 carries a current of 4.5 A. what is the power loss over 5.2 m of wire
Calculate the equilibrium quantity and price for peaches : Where is the price of peaches, is income, is the price of apricots, and is rainfall. Assume that and .
One reason for government intervention in the economy is to : One reason for government intervention in the economy is to discourage the consuption of goods which have negative externalities. Carefully explain why and the extent to which these goods should be taxed.

Reviews

Write a Review

Macroeconomics Questions & Answers

  Explain why does the government support public

Explain why does the government support public education when the private sector also provides this service.

  Why is economics considered a social science

Why is economics considered a social science? What role does economics play in your personal and professional lives?

  What fiscal policies and monetary policies would appropriate

What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.) What fiscal policies and monetary policies would be appropriate at this time

  Significant use of discretionary fiscal policy

Discuss any significant use of discretionary fiscal policy (fiscal stimulus package, deficit restructuring...) during the period.

  How do you predict the economy will perform in the next two

How do you predict the economy will perform in the next two years given the current state of two of the economic factors you identified? How might your organization be affected by these changes?

  Under what circumstances will input choice be similar

A company operates plants in both the United States(Where capital is relatively cheap and labor is relatively expensive) and Mexico(Where labor is relatively cheap and capital is relatively expensive). A. Why is it unlikely that the cost-minimizing..

  The price mechanism would be least important under

The price mechanism would be least important under which kind of economic system? a) capitalism b) socialism c) communism d) fascism

  What is the average cost of producing

How much profit does an individual producer make in a month? Is this a long-run equilibrium? If the answer is yes, simply state that it is a long-run equilibrium. If the answer is no, explain whether or not the equilibrium price will rise or fa..

  Calculate minimum increase in a-crew costs necessary to dch

Delmar Custom Homes (DCH) uses two types of crews on its Long Island, NY, home construction projects. Type A crews consist of master carpenters and skilled carpenters, whereas B crews include skilled carpenters and unskilled labor.

  What the game theory looks like without the law

A law was passed requiring a minimum weight for fashion models. Using game theory 2X2 matrix, show how the law prevents a prisoner's dilemma and makes the models better off. Show what the game theory looks like without this law.

  Making as-ad diagram

Explain why would you expect inflation rate to accelerate if actual unemployment rate declined to a level lower than the "full employment" unemployment rate & remained at that low level for a year or longer and creaste and AS/AD diagram

  Illustrate what would happen to general

Illustrate what would happen to general and specific training in labor markets.

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