User Account

All Pages

Perfectly competitive market produces and sells hats

Assignment Help Business Management
Reference no: EM131309354

A competitive firm in a perfectly competitive market produces and sells hats. Last year, it produced and sold 1,000 hats at the equilibrium price of $10. It incurred average variable costs of $6 and earned total economic profits of $1,000. What were the firm's total fixed costs?

Reference no: EM131309354

Questions Cloud

Does everything have a price : Does everything have a price? Are there some things you would not do regardless of the price? (Remember: prices and money are not synonyms; prices may be non-monetary.) Economist see price as an "opportunity cost" every choice has an opportunity c..
How the misinformation effect influences memories : How the Misinformation Effect Influences Memories.What were the contributing factors?In what ways has the explosion of technology and media/social media contributed to how the misinformation effect has become more prevalent in today's world?
Evaluate the role of purchasing power parity theorem : Inflation in Brazil is expected to be 24% p.a. by the third quarter of this year. ABC plc imports from Brazil paying in Brazilian real. Explain and evaluate the role of Purchasing Power Parity theorem in ABC's decision as to whether or not to look ..
Eliminate wordy phrases by substituting a single word : Revise the following sentences to eliminate wordy phrases by substituting a single word wherever possible. You may find other opportunities to tighten for conciseness.
Perfectly competitive market produces and sells hats : A competitive firm in a perfectly competitive market produces and sells hats. Last year, it produced and sold 1,000 hats at the equilibrium price of $10. It incurred average variable costs of $6 and earned total economic profits of $1,000. What..
How do you go about weighing the alternatives : How do you go about weighing the alternatives? Once you choose a most important use of time, why do you not spend all your time on it? Use the notion of opportunity cost in your answer.
Early-bird specials and senior citizen discounts : Does it make sense for a restaurant to offer early-bird specials and senior citizen discounts? Explain your answers in terms of the economic concepts of marginal revenue and marginal cost, as applicable.
Revise sentence to eliminate hidden verbs and hidden subject : Eliminate hidden verbs and hidden subjects.- Revise the following sentences to eliminate hidden verbs and hidden subjects.
Assume the economy is initially in equilibrium : Assume the economy is initially in equilibrium, and then firms expect future total factor productivity to decrease. Using the New Keynesian Model framework:

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

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