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-
Your friend Mike owns a coffee shop in a town with many competing coffee shops in a monopolistically competitive industry. One day Mike tells you (a trained economist) that he is earning an economic profit and is currently setting his price equal to his marginal cost. Is Mike producing the profit-maximizing amount of coffee? If not, what should he do? Explain. What will be effect of that proposed course of action?
Additional Information-
The problem belongs to Economics and it is talk about price of a product or service being equal to the marginal cost and whether or not this pricing is indeed producing profit to the firm. The details have been given in the answer.
Word limits- 200
How much will the firm want to produce and what employment force will the firms want to hire?
What is the equilibrium wage and employment if the labor market is competitive?
Why the focus in interest rates and unemployment and why can they keep the interest rates low? How do bond purchases tie in with the interest rates?
Southcoast Oil's fixed costs are $2,500,000 and its debt repayment requirements are $1,000,000. Selling price per barrel of oil is $18 and variable costs per barrel are $10.
When the iPad was introduced, Apple’s, Apples constant marginal cost of producing this iPad was about $220. We estimate that Apple’s inverse demand function for the iPad was P= 770 – 11Q, where Q is millions of iPad purchased. What were its profit ma..
Over the years, have states gained more or less power relative to the federal government? Please discuss and cite examples to support your argument.
what are the trade offs involved between current and future consumption/production? In the absence of government intervention, would we expect the consumers/producers to make optimal intertemporal decisions?
a factory benefits from discharging effluent q into a lake. the marginal benefit function is given by 60-2q. the
1. a taxicab company maintained accurate records of the expenses for one of its automobiles from january 1 1996
What components of GDP (if any) would each of the following transactions affect. Explain. A family buys a new refrigerator, You buy a pizza, California repaves Highway 101, Your parents buy a bottle of French wine.
Why is productivity related to the standard of living In your answer be sure to explain what productivity an standard of living mean. Make a list of things that determine labor productivity.
Economic profit is the difference between a firm's total revenue and its. What is the difference in profit maximization between the perfect competitor and all other types of firms?
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