Explain what is likely to occur in the market and why

Assignment Help Econometrics

Reference no: EM13231728

At its current level of production, a profit-maximizing firm in a competitive market receives $12.50 for each unit it produces, and it faces an average total cost of $10. At the market price of $12.50 per unit, the firm's marginal cost curve crosses the marginal revenue curve at an output level of 1000 units. What is the firm's current profit? What is likely to occur in this market and why?

Reference no: EM13231728

Questions Cloud

Validate a field for minimum length : Write a JavaScript program that performs the following actions (in sequence, step-by-step):

Define and complete and balance the equations for reactions : Complete and balance the equations for each of the following reactions. Express your answer as a chemical equation. Identify all of the phases

How does operating objective change size of deadweight loss : Assume that a monopolist decides to maximize revenue instead of profit. How does this operating objective change the size of the deadweight loss If you are a "benevolent" manager of a monopoly firm and are interested in reducing the deadweight los..

Write a query that will return the customer number : Write a query that will return the customer number

Explain what is likely to occur in the market and why : At its current level of production, a profit-maximizing firm in a competitive market receives $12.50 for each unit it produces, and it faces an average total cost of $10. At the market price of $12.50 per unit, the firm's marginal cost curve cross..

Explain the central atom in a molecule of cl2o : Which choice correctly describes the electron pairs in the valence shell of the central atom in a molecule of Cl2O?

Why is scheduling fairly simple for repetitive systems : Why is scheduling fairly simple for repetitive systems but fairly complex for job shops?

Define the geneticist of the pre-mendelian era : Galton, a geneticist of the pre-Mendelian era, devised the principle that half of our genetic makeup is derived from each parent

How much will the total income of the town grow by : A certain town has yearly exports that total $40 million. It has no imports. The town's marginal propensity to consume residence expenditures from their income is 0.15 The town's marginal propensity to spend on other things is 0.65

User Account

All Pages