Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Problem - The table below shows Ali's monthly costs of producing wheat. Suppose the current market price of wheat is $56.00 per bushel.
Ali's Wheat Production Costs
Quantity (bushels)
AVC (dollars)
ATC (dollars)
MC (dollars)
0
-
500
$40.00
$240.00
1,000
35.00
85.00
30.00
1,500
63.33
20.00
2,000
55.00
2,500
31.00
51.00
3,000
32.67
49.33
41.00
3,500
34.86
49.15
48.00
4,000
37.50
50.00
56.00
4,500
40.57
51.67
65.00
5,000
44.00
54.00
75.00
a. If the market price is $56.00 per bushel of wheat, and Ali chooses to produce wheat, how much will he produce per month to maximize his profits in the short run?
b. Calculate Ali's monthly profits (express a loss as a negative number) if he chooses to produce the profit-maximizing quantity of wheat at a price of $56.00.
c. Assume that the market price of wheat falls to $35.00 per bushel. How much wheat will Ali choose to produce per month in order to maximize his profits in the short run?
d. Calculate Ali's monthly profits (express a loss as a negative number) if he chooses to produce the profit-maximizing quantity of wheat at a price of $35.00.
e. If the market price of wheat instead falls to $20.00 per bushel, how much wheat will Ali choose to produce per month in order to maximize his profits in the short run?
1. which of the following actions reflect self-interested behavior?i warren buffett one of the worlds wealthiest
What is the risk premium necessary to make 1) and 2) equal? Please make clear what the sign is. What does it say about the relative riskiness of the situations?
Comcast and Verizon are considering which services to offer customers in the Nashville region.
How can we retain the advantages of democratic government but reduce the problems caused by prisoners' dilemmas? Here is a radical proposal for reflection and discussion. Abolish all congressional staff. Create a one-house legislatures with 600 membe..
A monopolist faces the price equation: P=1,000-0.5Q and total cost: C=50,000 +100Q + .4Q^2. A. Determine the price and output that maximize total revenue, and the level of profit. B. Determine the price and output that maximize profit and the leve..
How do costs play into your everyday life? For example, why might it be cheaper to drive on a toll-road vs. a free-access interstate Also, can you identify situations where you may fall victim to the sunk cost fallacy (we all do)
Assume a market demand curve of 240Q - 10p = 0 , if marginal costs are zero what is the cournot equilibrium price and output?
Write the equation for the total demand for emissions across both sectors. Does one sector have uniformly lower marginal abatement costs than the other? What is the total amount of emissions in the absence of regulation?
For the production function Q = K 0.35 L0.5 write the marginal product of K and L
Identify at least four key points of a relevant economic article from either the Strayer Library or a newspaper. The article must deal with any course concepts covered in Weeks 1-8.
Write them a memo discussing the problem and consider the alternatives of cash and accrual accounting methods.
Find the range of outputs for which the cost function C(q) = f + cq2 is characterized by economies of scale, (ii) diseconomies of scale, and (iii) constant returns to scale. Are there economies of scale if f = 0?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd