What is the profit-maximizing rate of output for the firm

Assignment Help Microeconomics
Reference no: EM13146347

Assume that the price of silk ties in a perfectly competitive market is $19 and that the typical firm confronts the following costs:
Quantity (ties per day) 0 1 2 3 4 5 6 7 8 9 10

Total cost $10 $17 $26 $37 $50 $65 $82 $101 $122 $145 $170

( a ) What is the profit-maximizing rate of output for the firm?

( b ) How much profit does the firm earn at that rate of output?

( c ) If the price of ties fell to $15, how many ties should the firm produce?

( d ) At what price should the firm shut down? 

Reference no: EM13146347

Questions Cloud

What is the molarity of the koh solution : 22.5ml of .383 molar H2SO4 is required to completely neutralize 20ml of KOH solution. What is the molarity of the KOH solution?
What is the equilibrium price of wheat : What is the equilibrium price of wheat and what is the equilibrium quantity of wheat sold
Define person is exercising enough to breathe in an average : during exercise a person breathes in between 100 and 200 L of air er minute. if a person is exercising enough to breathe in an average of
Calculate the molarity of an aqueous naoh solution : calculate the molarity of an aqueous NaOH solution if 32 mL of it is required to titrate .6789 grams of oxalic acid to a phenolphthalein end point.
What is the profit-maximizing rate of output for the firm : Assume that the price of silk ties in a perfectly competitive market is $19 and that the typical  firm confronts the following costs:  Quantity  (ties per day) 0 1 2 3 4 5 6 7 8 9 10,  Total cost $10 $17 $26 $37 $50 $65 $82 $101 $122 $145 $170
What are the proteins and the positions of the sequences : What are the proteins and the positions of the sequences they bind involved in transcription of the Lactose operon of Escherichia coli?
Problem related to maintain an ending inventory : There are 300 packages in the beginning inventory on the first of January. Also, the company wishes to maintain an ending inventory of 10 percent of the next month's sales.
Probability washing machines have mean replacement time : Find the probability that 70 randomly selected washing machines will have a mean replacement time less than 9.1 years.
What impact is invader having on native species populations : One threat to populations within an ecosystem is an invasive species. In the American Southwest, certain areas are being invaded by non-native, Africanized Honey Bees. This aggressive, non native bee is a prolific breeder and some estimate that it..

Reviews

Write a Review

Microeconomics Questions & Answers

  What is the internal rate of return on investment

What is the internal rate of return on this investment? Assume that the cab is paid for at the beginning of the ?rst year, but that the annual cash ?ows happen at the end of the year.

  Advantage & disadvantage of different types of exchange rate

During middle years of this decade, the exchange rate of the United States dollar has declined against the currencies of its major trading partners.

  Computing the expected dividends

New Light Corporation has just created a solar panel capable of generating 200 percent more electricity than any solar panel currently on the market. As a result, New Light is expected to experience a 15% yearly growth rate for the next 5 years.

  Determining costs and maximizing profits for monopoly

A monopolist has demand and cost curves given by: Find out the quantity that maximizes profit? What is the revenue and profit at that point?

  Monopoly-demand schedule-deadweight loss

What price and quantity will monopolist produce at if the marginal cost is constant $4.00? Compute the deadweight loss from having the monopolist produce, rather than the perfect competitor.

  Explain changes occur to demand, supply & quantity demanded

The Wall Street Journal reported that recent law school graduates were having a very difficult time getting jobs in the legal profession. Many law schools said that ten to 20% of their graduates still had not found jobs.

  Find the breakeven discount rate

Find the breakeven discount rate such that the net present value of this development opportunity is zero and will the future value of this investment be sufficient to compensate those that suffer damages in year 20?

  Question related to monopolistic competition

Do you think the overall level of R&D would rise or reduce over the next twenty to thirty years if the lengths of new patents were extended from twenty years to, say "forever"?

  Determining the market structure of oligopoly

Monica and her father own one of the three automobile tire stores in the city. No other city is nearby. They want do develop a strategy increase sales and market share in their city. What steps can they take?

  Graph the supply and demand curves

Use supply or demand graphs to examine shifts in supply and demand and resulting changes in market equilibrium in the condition below.

  Multiple-choice microeconomics questions

David is horrified to see that the value of his favorite beverage has raised. Determine which of the following would unequivocally be responsible for this value raise?

  Identify differences and similarities of each budget

Identify the differences and similarities of each budget and what accounts for the major sources of revenue for each and how are the revenue amounts expected to change in the future?

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd