Will this firm produce in the short run

Assignment Help Microeconomics

Reference no: EM13162464

1. Fit-To-A-Tee, a "price-taking" T-Shirt design shop, has a schedule of total fixed costs, total variable costs, total costs and marginal costs as shown in the table below:

785_Calculate various costs at every level of output.png

(a) Copy and complete the table above by calculating various costs at every level of output the firm might produce.
(b) Graph AFC, AVC, ATC and MC.

(c) At a product price of $452, will this firm produce in the short run? If so, what quantity will they produce? Explain. What will its profit or loss be?
(d) At a product price of $173, will this firm produce in the short run? If so, what quantity will they produce? Explain. What will its profit or loss be?
(e) At a product price of $122, will this firm produce in the short run? If so, what quantity will they produce? Explain. What will its profit or loss be?
(f) In the table below, complete the supply schedule for this competitive firm.

2264_Calculate various costs at every level of output1.png

(g) Suppose there are 100 identical firms in the industry and all have the same cost schedule, complete the market supply schedule in the table below (column 3).

668_Calculate various costs at every level of output2.png

(h) Suppose the market demand schedule is shown in the table above (column 1). What will be the equilibrium price and the equilibrium quantity of the product? What will the short-term profits of each firm be? Explain and show your work.

Reference no: EM13162464

Questions Cloud

Answer the question on examples : Q1. Suppose a jogger wants to use her ten fingers to count laps as she circles a track. Each finger can be in two different states to represent a binary digital. How many laps can she conveniently count? Briefly justify your answer.

State presence of the auxiliary complexing agent nh3 : Calculate pCd2 at each of the following points in the titration of 50.00 mL of 0.0060 M Cd2 with 0.0060 M EDTA in the presence of the auxiliary complexing agent NH3

What is the molarity of the sodium carbonate : If 6.73 g of Na2CO3 is dissolved in enough water to make 250. mL of solution, what is the molarity of the sodium carbonate?

Compute the mass of a small piece of a neutron star : Assuming that a neutron star has the same density as a neutron, calculate the mass in kilograms of a small piece of a neutron star the size of a spherical pebble with a radius of 0.10 mm.

Will this firm produce in the short run : Fit-To-A-Tee, a "price-taking" T-Shirt design shop, has a schedule of total fixed costs, total variable costs, total costs and marginal cost

Calculate the concentrations of all species : Calculate the concentrations of all species in a 1.62 M Na2SO3 (sodium sulfite) solution. The ionization constants for sulfurous acid are Ka1=1.4x10^-2 and Ka2=6.3x10^-8.

Calculate the partial pressures of the gases : A mixture of gases contains 0.26 mole CH4, 0.38 mole C2H6, and 0.18 mole C3H8. The total pressure is 1.50 atm. Calculate the partial pressures of the gases.

Change this code to read in strings from a text file : code takes in a string from a user, checks if the paranthesis are ballanced (as defined by my class) and also returns the variable from my line (also from my class). All like to change this code to read in strings from a text file (each line is a str..

Explain how these three ions can be separated : describe how these three ions can be separated by adding NaI solution. Which will precipitate out first and last? Please solve and show EVERY step of the solution

User Account

All Pages