What amount of profit is the firm earning

Assignment Help Business Economics

Reference no: EM13159503

Price (dollars per unit)	Quantity demanded (units)
26	0
24	1
22	2
20	3
18	4
16	5
14	6
12	7
10	8

Quantity produced (units)	Average total cost (dollars)	Marginal cost (dollars)
0
1	18.00	8.00
2	12.00	6.00
3	10.66	8.00
4	10.50	10.00
5	11.20	14.00
6	12.66	20.00
7	15.14	30.00
8	23.25	80.00

1. What is the profit-maximizing level of output and price?

2. What amount of profit is the firm earning?

3. Is this firm in a short-run or long-run equilibrium? Why?

Reference no: EM13159503

Questions Cloud

Is crossing over more advantageous to organism survival : Is "crossing over" more advantageous to organism survival if it occurs duing MITosis OR Meiosis & why?

What is the nominal gdp : What is the nominal GDP in 2011? What is the real GDP in 2011 (using 2010 prices)?

Write a program the contains an array of 1000 elements name : Write a function named equals() that accepts two char arrays and return true if both arrays have the same characters in the same order. The function should return false otherwise. Write a simple main() function to test your function.

What was the cause-specific mortality rate from cholera : In an Asian country with a population of 6 million people, 60,000 deaths occurred during the year ending December 31, 1995. . What was the cause-specific mortality rate from cholera in 1995?

What amount of profit is the firm earning : What amount of profit is the firm earning? Is this firm in a short-run or long-run equilibrium? Why?

Explain the differences between the two demand functions : One can derive a demand function for health and for medical services from the Grossman model. Explain the differences between the two demand functions. Why does demand for health and for medical services depend on age?

Determine the net amount to be paid the employee : Payroll data for the current week are as follows: hours worked, 46 federal income tax withheld, $350; cumulative earnings for year prior to current week, $99,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% o..

State the expected molar solubility of silver phosphate : What is the expected molar solubility of silver phosphate, Ag3PO4 in water? B) What is the expected molar solubility, in ppt (parts per thousand), of lead(II) iodide, PbI2 in water

Income statements and other pertinent computations : The following data are for the year ended December 31, 20XX:The submission should be 2 to 4 pages and need to include income statements and other pertinent computations in good format as well as a discussion interpreting the analysis. Answer all q..

User Account

All Pages