User Account

All Pages

Determining the perfectly competitive industry

Assignment Help Business Economics
Reference no: EM131037679

1. A firm operates in a perfectly competitive industry.  Suppose it has a short run total cost function given by TC= 42000 +0.001q^2.  If the market price is 15, what is the firm's profit-maximizing quantity?

(Answers must be with 2 of the true value to be counted as correct.  Do not include commas or plus signs.)

2. A firm operates in a perfectly competitive industry.  Continue to suppose it has a short run total cost function given by TC = 42000 +0.001q^2.  If the market price is 15, what is the highest profit the firm can earn?

(Format: answers must be with 4 of the true value to be counted as correct.  Do not include commas, dollar signs, or plus signs.)

Reference no: EM131037679

Questions Cloud

Define vertical integration and horizontal integration : B203A -- explain the supply chain for Zara from raw material to consumer purchase and What are the disadvantages of Zara's "fast fashion" distribution system
Which approach do you prefer and why : 1. Critically evaluate the different approaches to the idea of engagement, namely ‘work engagement' and ‘employee engagement' (Purcell 2014). Which approach do you prefer and why?
How providing need goods or services will improve community : Describe how providing needed goods or services will improve the community and its standard of living. How purchase of supplies and other materials can help local businesses.
Calculate the overall voltage gain : In each of the six circuits in Fig. P8.101, let β =100, and neglect ro. Calculate the overall voltage gain.
Determining the perfectly competitive industry : 1. A firm operates in a perfectly competitive industry.  Suppose it has a short run total cost function given by TC= 42000 +0.001q^2.  If the market price is 15, what is the firm's profit-maximizing quantity?
Differ across cultures and geographic boundaries : Marketers must pay attention to marketing implications that differ across cultures and geographic boundaries as well as trends over time. How consumers react to a new product or service may determine a company’s success or failure. Research reputable..
How could this information be gathered : What kinds of outcomes do you hope the new organization will bring about? How can these outcomes be measured? What kinds of information would decision makers need to plan and implement programs?
Case - brunninghausen v glavanics : The written assignment and presentation slides must be in the IRAC method. This is the case: Brunninghausen v Glavanics (1999)
Briefly provide a historical background on scheins theorys : Briefly provide a historical background on Schein's theory's and describe an organization you were or are a part of in terms of these 4 factors: myths/symbols/ritual/language.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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