Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
1. Suppose that a monopolistically competitive firm must build a production facility in order to produce a product. The fixed cost of this facility is FC = $24. Also, the firm has constant marginal cost, MC = $3. Demand for the product that the firm produces is given by P = 27-3Q.
a) Fill in the table below. If any of your values have decimals, you may round to only one numeral after the decimal (nearest 10th of a dollar).
Quantity of Output
Price
Total Cost
Average Total Cost
1
2
3
4
5
6
7
8
9
b) How much output will this firm produce if it maximizes profit?
c) What price should this firm charge if it wants to maximize profit?
2. Carefully explain what will happen as we move from the short run to a long run equilibrium in a monopolistically competitive industry if firms are making a positive profit in the short run. Your explanation should clearly state what will happen to the demand curve facing an individual firm and the reason why this happens.
Define Average Total Cost and Average Variable Cost Average Total Cost: The amount spent on producing every unit of output. The average cost is calculated by dividing the t
Assume you see that two macroeconomic variables are correlated with each other. But you want to know if there's an underlying or causal relationship between the two variables. Wo
what monopoly market .
Divisional Str ucture Some organizations run as a number of divide, autonomous business units, synchronized by a central headquarters. This is a divisional structure.
if you were making the pricing decision for the gasoline company, would you cut, raise or leae the price unchanged
consumer surplus fot tea
Disadvantages of State Trading State trading has several disadvantages. (i) State trading is often afflicted by the corruption and inefficiency usually associated with the pu
causes of monopoly
What are the main weaknesses of using demand-side policies? Trade-off issues a) Growth and low unemployment often come with inflation b) Government stimulatory policies m
Define why prices is significant for economy Reason for using different weights is that some prices are more significant than others for economy. Price of gasoline, for instanc
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd