User Account

All Pages

Calculate the profit for that level of output

Assignment Help Microeconomics
Reference no: EM13156364

1195_Calculate the profit for that level of output.png

a. Complete the table above. You do not have to complete any cell with "-" in it. Be careful calculating MC and MR; note that output does not change by "1" but by "2". 

b. What level of output will this firm operate at in order to maximize its revenues or minimize its losses? (That is not two questions; it's the same level of output in either case.)

c. Demonstrate to me that your answer to (b) above is indeed correct. Calculate the profit for that level of output, as well as the level of output immediately above and below it (so you will have three profit calculations).

Reference no: EM13156364

Questions Cloud

Gain and net reduction in retained earnings : On that date, when the market price of Matile was $14 per share, there were 270,000 shares of Stinson outstanding. What gain and net reduction in retained earnings would result from this property dividend?
What is expected amount of return investment will produce : Assume that an investment is forcasted to produce the following returns: a 20% probability of a $1200 return; 50% probabilty of a $5600 return and 30% probabilty of $9500 return. What is the expected amount of return this investment will produce?
Why is timing not so critical with h2s readings : As mentioned in the theory, the fermentation readings with KIA must take place between 18 and 24 hours after inoculation.Why is timing not so critical with H2S readings?
Deduction for organizational expenses : Assume Coral Corporation makes an appropriate and timely election under § 248. What is Coral's deduction for organizational expenditures for 2010?
Calculate the profit for that level of output : Calculate the profit for that level of output, as well as the level of output immediately above and below it and what level of output will this firm operate at in order to maximize its revenues or minimize its losses?
Is inability the result of poor sensitivity or poor specific : The sulfur reduction test is not able to differentiate H2S produced by anaerobic respiration and H2S produced by putrefaction. Is this inability the result of poor sensitivity or poor specificity of the test system?
What was the mass of a powder : A powder contains FeSO4·7H2O (molar mass = 278.01 g/mol) among other components. A 3.585-g sample of the powder was dissolved in HNO3 and heated to convert all iron to Fe3
What is the number of possible passwords to consider : suppose you know there are four letters in a certain password. Also you know three of the four letters but are not certain of the correct order. What is the number of possible passwords you must consider?
Explain how a different diuretic might induce hypokalemia : Based on your knowledge of the role of renal tubule in regulating ion balance, explain how a diuretic could induce hyperkalemia. Then explain how a different diuretic might induce hypokalemia.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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