Assume that the price of silk ties in a perfectly

Assignment Help Microeconomics
Reference no: EM13375205

Assume that the price of silk ties in a perfectly competitive market is $19 and that the typical firm confronts the following costs:
Quantity (ties per day) 0 1 2 3 4 5 6 7 8 9 10

Total cost $10 $17 $26 $37 $50 $65 $82 $101 $122 $145 $170

( a ) What is the profit-maximizing rate of output for the firm?

( b ) How much profit does the firm earn at that rate of output?

( c ) If the price of ties fell to $15, how many ties should the firm produce?

( d ) At what price should the firm shut down? 

Reference no: EM13375205

Questions Cloud

Question 1 consider toms labor supply decision tom can earn : question 1. consider toms labor supply decision. tom can earn 15 per hour but he faces a 20 tax rate and pays 4 per
Question 1 a firm that emerges as the only seller in an : question 1 a firm that emerges as the only seller in an industry with economies of scale is ananswer monopoly
If the price of the imported tv sets was 30000 in the usat : if the price of the imported tv sets was 300.00 in the us.at the beginning of the year how much would you expect the
1 david smith must decide whether to start a business : 1. david smith must decide whether to start a business renting beach umbrellas at an ocean resort during june july and
Assume that the price of silk ties in a perfectly : assume that the price of silk ties in a perfectly competitive market is 19 and that the typicalnbspfirm confronts the
Assume you are the manager of abba cable company which : assume you are the manager of abba cable company which provides commercial communication services to the town of canyon
Question 1a tax imposed on imports is called a tariff a : question 1.a tax imposed on imports is called a tariff a quota a comparative advantage an excise taxquestion 2 this
Write a 500 to 700-word paper that explains positive and : write a 500 to 700-word paper that explains positive and negative aspects of the death penalty. present a persuasive
Your company asks you to analyze two mutually exclusive : your company asks you to analyze two mutually exclusive projects for the coming year. project a will have an initial

Reviews

Write a Review

Microeconomics Questions & Answers

  Provide at least two reasons to support your argument

Name the circumstances which indicate an oligopolistic market structure and discuss a real life example of such a market structure. What are the most significant differences between oligopolistic and perfect competition from the consumer's point o..

  1 collect data for a countrys gdp on a quarterly basis2 run

1. collect data for a countrys gdp on a quarterly basis.2. run a regression using some statistics or econometrics

  Draw a graph of the aggregate labor market in equilibrium

Draw a graph of the aggregate labor market in equilibrium. Then consider each of the following scenarios. In each case, show the effect on the market and explain what will happen to the real wage and the equilibrium quantity of labor.

  Examine models of oligopoly

Examine the models of oligopoly and create at least one recommendation for improvement. Describe your rationale.

  Introduce a tax on alcoholic drinks in the market

Using a graph, introduce a tax on alcoholic drinks in the market. How does this affect the individual firm, and the rest of the monopoly market? Differentiate between the long and short-run.Show this on a graph and explain

  Game theory and rival strategies

Illustrate out the term game theory? describe it with the situation in which game theory is applicable, along with any description of the two rival's strategies.

  The sunkist citrus processing plant in the southern san joa

An orange goes through four major steps on its way from grove to grocery store at the Sunkist Citrus Processing Plant in the southern San Joaquin Valley: washing, waxing, grading (inspection), and packaging. The facility's production technology can b..

  Explain why veras preferences are of very special type

Vera is an impoverished graduate student who has only $100 a month to spend on fodd. She has read in a government publication that she can assure an adequate diet by eating only peanut butter and carrots in the fixed ratio

  Explain which conveys a positive externality

Consider two ways to protect your car from theft. The Club(a steering wheel lock) makes it difficult for a car theif to take your car. Lojack(a tracking system) makes it easier for the police to catch the car thief who has stolen it.

  What important function of money does a statement disregard

Functions of Money) "If an economy had only two goods (both nondurable), there would be no need for money because exchange would always be between those two goods." What important function of money does this statement disregard. Suppose the money ..

  Find what would the growth rate of the economy be

(A)If the production function is AK and the savings rate is the constant rate "S", and the rates of depreciation and population growth are d and n respectively, what would the growth rate of the economy be

  Neolithic revolution

What  was the Neolithic Revolution. Explain

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