Reliable packaging is a perfectly competitive firm

Assignment Help Business Economics

Reference no: EM13984285

Answer all questions and show all work

Problem Solving

Reliable packaging is a perfectly competitive firm. Its output is 20,000 units a day; its daily total revenue is $750,000; its average total cost is $37.50; and its average variable cost is $27.50. It is operating at the output level where average total cost is at a minimum. What is each of the following?

1. Price

2. Total Cost

3. Total fixed cost

4. Total profit

5. Marginal Cost

Reference no: EM13984285

Questions Cloud

It would not cost firm to product anything in the short run : It would not cost a firm to product anything in the short run if price were:

Consider the market for coffee beans : Consider the market for coffee beans. Suppose that the prices of all other caffeinated beverages go up 30% while, at the same time, a new fertilizer boosts production at coffee plantations dramatically. Which of the following best describes what is l..

Major newspaper that attempts to analyze statistical data : Find an article in a major newspaper that attempts to analyze statistical data. Summarize it , and relate what you understand about the interpretation. Do you agree with the analysis as presented in the article?

Response to the foreign recession : Explain the likely effects of a U.S. recession on the demand for Canadian exports. What would be the effect on Canadian aggregate demand? Suppose the Bank of Canada viewed its monetary policy as being appropriate (for keeping output close to potentia..

Reliable packaging is a perfectly competitive firm : Reliable packaging is a perfectly competitive firm. Its output is 20,000 units a day; its daily total revenue is $750,000; its average total cost is $37.50; and its average variable cost is $27.50. It is operating at the output level where average to..

Derive and graph foreign export supply curve : Derive and graph foreign export supply curve and find the price that would prevail in Foreign in the absence of trade. Allow Foreign and Home to trade with each other. Graph equilibrium under free trade. What is the world price and the volume of trad..

Equilibrium exchange rate-exchange rate between pound-yen : One British pound exchanges for 1.6 U.S. dollars. One dollar exchanges for 81 Japanese yen, or for 6.2 Swedish krona. What is the exchange rate between the pound and the yen, between the pound and the krona, and between the krona and the yen? Draw a ..

Describe the health issue and causes or risk factors : Choose a health issue. Describe the health issue and causes/risk factors. Describe the statistics and health disparities of the health issue in the United States

Explain how shifts in aggregate supply and demand : Draw diagrams to explain how shifts in aggregate supply and demand are likely to lead to changes in output and inflation when:

User Account

All Pages