User Account

All Pages

Determine the firm profit-maximizing output

Assignment Help Microeconomics
Reference no: EM13880824

The Green Company produces chemicals in a perfectly competitive market. The current market price is $40; the firm's total cost is C=100+4Q+Q2

a. Determine the firm's profit-maximizing output. More generally, write down the equation for the firm's supply curve in terms of price P.

b. Complying with more stringent environmental regulations increases the firm's fixed cost from 100 to 144. Would this affect the firm's output? Its supply curve?

c. How would the increase in fixed costs affect the market's long-run equilibrium price? The number of firms? (Assume that Green's costs are typical in the market.)

Reference no: EM13880824

Questions Cloud

Identify the product you are shopping for the retailers : Identify the product you are shopping for, the retailers you chose and why. Analyze the three websites based on the following criteria: product quality, price and suggestive selling
Find the market equilibrium price and output : Suppose the government imposes a tax of $20 per unit of output on all firms in the industry. What effect does this have on the industry supply curve? Find the new competitive price and output. What portion of the tax has been passed on to consumer..
How much revenue must zia generate to break even? : How much revenue must ZIA generate to break even?
How much can students expect to make on graduation explain : How much can students expect to make on graduation? Explain. What variables (if any) affect how much a student can expect to make? Why/why not?
Determine the firm profit-maximizing output : Complying with more stringent environmental regulations increases the firm's fixed cost from 100 to 144. Would this affect the firm's output? Its supply curve?
What approaches could have yielded additional information : Review and reflect on the knowledge you have gained from this course. Based on your review and reflection, write at least three paragraphs- What were the most compelling topics learned in this course?
Factors that can affect whether training transfers : Identify and discuss the factors that can affect whether training transfers back to the job. Which two factors do you feel are the most important to ensure transfer
Partial pressure of air as a function : With the presence of stagnant air in the steam, the condensate surface temperature drops from 28 to 24°C and the condensate rate is reduced by a factor of 2. For the air-steam mixture, determine the partial pressure of air as a function of distanc..
How would each factor affect demand or supply : In 2009, the Japanese beer industry was affected by two economic events: (1) Japan's government imposed on producers a tax on all beer sold, and (2) consumer income fell due to the continuing economic recession. How would each factor affect (i.e.,..

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