Firm operating in perfectly competitive industry

Assignment Help Business Economics

Reference no: EM131173945

A firm operating in a perfectly competitive industry is producing a daily output which supports total revenue equal to $5,000. That output is its profit-maximizing output. The firms average total cost is $8, its marginal cost is $10, and its average variable cost is $5. Its daily output is how many units? Its total fixed cost is how much?

Reference no: EM131173945

Questions Cloud

The increase in government purchases on aggregate demand : When comparing a $100 billion increase in government purchases to a $100 billion decrease in tax revenue, the effect of the increase in government purchases on aggregate demand is

Briefly describe the great depression : Briefly describe the Great Depression. Explicitly explain why it is believed to have been an American led world recession. Be sure to highlight the important causes in your explanation.

Develop relationship with the ministry of transportation : Imagine you are the director of global business development for a large Swedish engineering company that wants to win a contract to build roads in Kenya, a project funded by the World Bank. You need to develop a relationship with the Ministry of Tran..

Describe general environment of technological progress : Briefly describe the general environment of technological progress. Why might the market deliver a suboptimal level of technology? Discuss in detail three of the determinants of the success of a country's technological development.

Firm operating in perfectly competitive industry : A firm operating in a perfectly competitive industry is producing a daily output which supports total revenue equal to $5,000. That output is its profit-maximizing output. The firms average total cost is $8, its marginal cost is $10, and its average ..

What compensation options available to employers : What compensation options available to employers? Describe each. Many have argued that the most important reason for adopting incentive compensation is to communicate to employees how they contribute to the company's success. Do you agree or disagree..

Removed from partisan politics by virtue of ability to act : The FRS was established as an independent agency, removed from partisan politics by virtue of its ability to act without seeking presidential or legislative consent. Some argue this independence has the potential to result in rogue actions that may o..

Briefly describe the loanable funds market : First, briefly describe the loanable funds market. Next, in the domestic economy the government is running a budget deficit and needs to borrow money. Describe what will occur in the loanable funds market.

Key factor within the healthcare revenue cycle : Reimbursement in a healthcare facility is a key factor within the healthcare revenue cycle. In this discussion, explain the checks and balances that should be in place to ensure that the facility is receiving maximum reimbursement. Consider what is n..

User Account

All Pages