User Account

All Pages

Perfectly competitive market

Assignment Help Macroeconomics
Reference no: EM131255378

The following figure shows MC, AC, AVC, and MR for a firm in a perfectly competitive market. The firm wished to choose an output that leads to maximum profit.

a) At what level of output will the firm operate?

b) What price will the firm charge?

c) What line indicates average cost at the maximum profit output?

d) What line indicates marginal cost at the maximum profit output?

e) Which block indicates the total cost of producing the maximum profit output?

f) Which block indicates the firm's total revenue at maximum profit output?

g) Which block indicates the firm's profit at maximum-profit output?

Reference no: EM131255378

Questions Cloud

What are the major effects of the physical separation : What are the major effects of the physical separation of group members? How can distance, in some cases, be beneficial to groups and teams
Determine the balance in the revenue and expense accounts : Davis Company was started on January 1, 2014. During the month of January, Davis earned $5,800 of revenue and incurred $3,600 of expenses. During the remainder of 2014, Davis earned $58,000 and incurred $48,000 of expenses. Determine the balance in t..
Assignment on law of demand : The Law of Demand states that the demand for a product is inversely related to the price of such product. Therefore, the demand for a product is considered downward sloping. This implies that quantity demanded increases when price decreases. Is th..
How the results of your study might contribute to making : Based on your understanding of social change, write one paragraph to describe how the results of your study might contribute to making a difference at a local/community, regional, or national level.
Perfectly competitive market : The following figure shows MC, AC, AVC, and MR for a firm in a perfectly competitive market. The firm wished to choose an output that leads to maximum profit.
How does the use of market mechanisms in government work : How does public entrepreneurship or the use of market mechanisms in government work? Briefly describe the following key forms of public entrepreneurship: outsourcing, public-private partnerships and privatization.
Derive the marginal revenue curve : Suppose you are a monopolist in the market for a specific video game. Your demand curve is given by P=80-Q/2, and your marginal cost curve is MC=Q. Your fixed cost is $400.
Determine the balance efficiency : The workers remain seated along the line. Proportion uptime = 0.90.
What is the probability that all six spots are taken : Consider the situation of Mr. R. B. Cheney, who owns a large gas station on a highway in Vermont.- What is the probability that all six spots are taken? - How many customers arc served every hour?

Reviews

Write a Review

Macroeconomics Questions & Answers

  Inflation targeting be a good policy

Why might it be difficult for the Fed to formally adopt inflation targeting?  Would inflation targeting be a good policy for the Fed in the present economic environment

  In using the taylor rule

In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?

  Describe the present economic crisis situation in europe

Describe the present economic crisis situation in Europe.  Why has it been so difficult for the Europeans to find a solution to this problem?   Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..

  Long-term federal government budget problems

Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.

  Derive and compare demand curve

Question based on Derive and compare demand curve,  Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?

  Problem based on utility function

Problem based on  Utility Function - Problem,  Answer and explain the following using a diagram which is completely labeled.

  Laffer curve : tax rate and tax revenue

Question based on Laffer Curve : Tax Rate and Tax Revenue,  Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?

  Problem - income elasticity of demand

Problem - Income Elasticity of Demand,  Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5

  Positive balance of payment

Question Positive Balance of Payment: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments."

  Effect of recession on the investment curve

Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.

  Affect of falling domestic investment on trade surplus and

How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.

  Crises in the banking sector and bank run

Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?

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