User Account

All Pages

What price should the manager of this firm put on its

Assignment Help Macroeconomics
Reference no: EM13327434

The cost function for Lilac Ltd.is given by TC = 500 + Q^2. It sells output in a perfectly competitive market and other firms in the industry sell at a price of $100.

1. What price should the manager of this firm put on its product?

2. What level of output should be produced to maximize profits?

Reference no: EM13327434

Questions Cloud

Determine the cost of employing flip for the year : Prepare a journal entry summarizing the payment of Flip s total salary during the year and prepare a journal entry summarizing the employer payroll tax expense on Flip s salary for the year.
Calculate the total revenue at the profit maximizing level : The total costs of a firm under perfect competition is given by the equation TC = 5,000 + 4Q + 2Q^2 and the market price is $100 per unit.
How far is the tractor in front of you when you finally stop : You are driving in your car along a country road at a speed of 27.0m/s. As you come over a crest of a hill, how far is the tractor in front of you when you finally stop
Compute the amount of depreciation expense : Compute the amount of depreciation expense for the year ended December 31, 2011, using the straight-line method of depreciation and what is the balance of the Accumulated Depreciation Equipment account at December 31, 2013?
What price should the manager of this firm put on its : The cost function for Lilac Ltd.is given by TC = 500 + Q^2. It sells output in a perfectly competitive market and other firms in the industry sell at a price of $100.
Prepare a classified balance sheet in good form : Prepare a classified balance sheet in good form as of December 31, 2013.
Compute the cost of goods available for sale : Compute the cost of goods available for sale and compute the value of ending inventory and Cost of Good Sold under the LIFO method or FIFO method.
A professor want to know how students feel about gun control : A professor want to know how students feel about gun control, so he surveys his students asking %60Are you in favor or opposed to gun control.%60 All of his students respond. What is the major source of possible bias in this study?
Determine the profit at the revenue maximizing level and the : Determine the profit at the revenue maximizing level and the profit maximizing level.

Reviews

Write a Review

Macroeconomics Questions & Answers

  Will there be economic profits in the long run in a monopoly

Will there be economic profits in the long run in a monopolistic competitive market? Explain your answer. " Firms in monopolistic competition are not producing at minimum average cost. They are said to have excess capacity." Explain the statement...

  What would you propose if you were in congress

What are the implications of a U.S. policy to "buy American" wherever possible in government contracting How could such a policy create challenges for trading partner relationships What would you propose if you were in Congress

  What would you predict the sales of c to be this week

The change in the quantity of product C demanded in any given week is inversely proportional to the change in sales of product D in the previous week. That is, if sales of D rose by X percent last week, sales of C can be expected to fall by X perc..

  Long-term federal government budget problems

Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.

  What is the marginal and average tax rate for each family

Suppose that the tax rate on the first $10,000 income is 0; 10 percent on the next $20,000; 20 percent on the next $20,000; 30 percent on the next $30,000; and 40 percent on any income over $80,000.Family A has an income of $40,000 and Family B has..

  Describe the demand and marginal revenue curves

The demand and marginal revenue curves faced by a firm in a purely competitive market. they different from those faced by a firm in oligopolistic competition.

  Do the firms have an incentive to reduce their pollution

Do these firms have an incentive to reduce their pollution? Explain with diagram. d. Modern economists suggest 2 solutions to the pollution problem above. Explain how a pollution tax (use diagram) and an emission permit trading scheme can both "so..

  Calculate the ratio of annual consumption

Assume that Jim goes to work at age twenty-five, earns an average $40,000 a year for 40 years. He inherits $320,000 when he starts working. He expects to live to be 75.

  Find out the marginal utility for each chicken piece

Find out the marginal utility for each chicken piece. What is the meaning of the marginal utility of the 11th piece.

  Explain the concept of opportunity cost

Using the concept of opportunity cost, explain why in developed countries with higher average incomes there is more support for costly environmental controls.

  What percentage of the companys accounts receivable balance

a. Aprroximately what percentage of the company's accounts receivable have balances below $30 b. Approximately how many of the 10000 accounts have balances excedding $98 Account Balance Frequency $ 0 to under 50 10 50 to under 100 15 100 to under 150..

  Most nation are interdependent where trade is concern

Most nation are interdependent where trade is concern. We all depend on each other. Should America aim to be self sufficient in the production of goods and services, rather than depending on other countries for trade.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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