What price will the firm charge

Assignment Help Microeconomics
Reference no: EM131574617

Question - Assume the following regarding a firm in Perfect Competition:

Market Demand = Qd = 480 - 5 P

Market Supply = Qs = 12 P

Each identical firm has:

MC = 5 q

ATC = 22

1. What price will the firm charge? 

2. What is the firm's equilibrium quantity? 

3. What is the firm's total cost? 

4. What is the firm's total revenue? 

5. What is the firm's profit or loss?

6. Is the firm in a short-run or long-run situation?

Reference no: EM131574617

Questions Cloud

What is the value of the demand curve vertical intercept : Question - Given the demand and supply for water dispensers: What is the value of the demand curve's vertical intercept
Radio frequency identification devises : Evaluate the use and applicability of Radio Frequency Identification Devises (RFID) in industry today.
Discuss at least two strategies for deception glass used : Identify and discuss at least two strategies for deception Glass used. Why did they ultimately fail
Define three equivalence relations on the set of students : Define three equivalence relations on the set of students in your discrete mathematics class different from the relations discussed in the text.
What price will the firm charge : Assume the following regarding a firm in Perfect Competition: What price will the firm charge? What is the firm's equilibrium quantity
Discuss the warshall algorithm : Adapt Warshall's algorithm to find the reflexive closure of the transitive closure of a relation on a set with n elements.
Calculate sarah maximum weekly profit : ECO303 - Spring 2017 Assignment. Sarah's Lawn Mowing Service is a small firm that takes prices as given. Calculate Sarah's maximum weekly profit
What hardware will cic need to have to implement solution : What hardware will CIC need to have to implement the solution? What options does the vendor offer for configuring the off-the-shelf system to CIC's needs?
Why narcissist find a fake marriage as an easiest way : Why narcissist find a fake marriage as an easiest way to migrate in developed countries

Reviews

Write a Review

Microeconomics Questions & Answers

  Would the worker continue to be a member of the labor

Assuming that U =0.5, would an hour spent in the labor force searching for a job make the husband better off or worse off? Would the worker continue to be a member of the labor force under these conditions? If not, how would he be ca..

  The process of lobbying legislatures

The process of lobbying legislatures is itself a big business. State legislatures are under the same kind of pressure from interest groups as the Senate and the House of Representatives.

  Compare and contrast direct finance and indirect finance

Compare and contrast direct finance and indirect finance.

  Review given statements and give solution

Enron falsifies its accounting books and goes bankrupt.

  What is the probability that she will get it right

Suppose that a student who is about to take a multiple choice test has only learned 40% of the material covered by the exam.Thus, there is a 40% chance that shewill know the answer to a question. However, even if she does not know the answer to a ..

  What are the marginal rates of substitution for each person

What are the marginal rates of substitution for each person and what is the formula for the contract curve and draw an Edgeworth box, labeling carefully, and indicate the contract curve.

  Describe why cost structure related with many kinds of

explain why the cost structure associated with many kinds of information goods and services might imply a market

  Contrast the static and dynamic views of monopoly

Contrast the static and dynamic views of monopoly and the policies appropriate for each. Please provide a detailed answer.

  What is the interpretation of a hedonic wage function

Explain what is meant by the hedonic wage function for a job characteristiv such as the probability of an injury. Go on and explain how the function can be deruved from worker prefernces and production technologies.

  Difference in locations of distributions of recovery times

Do the data provide sufficient evidence to indicate that the recovery times for one (or more) type(s) of influenza tend(s) to be longer than for the other types? Give the associated p-value.

  George has 2800 to spend on soda pop and pretzels describe

george has 28.00 to spend on soda pop and pretzels. determine the number of cans of soda pop and pretzels that will be

  Assuming clear vision can get economies of scale by being

john gardener is the city planner in a med size company. the city is considering a proposal to award an exclusive

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