Business

Business, 22.10.2019 18:50, deannajd03

Given a perfectly competitive market structure at the profit-maximizing output level, a firm's total fixed costs are $15, average variable costs are $2.11, marginal revenue is $4, and the quantity demanded is 65. what is the total profit earned by the firm? group of answer choices $137.15 -$15 $195 $107.85 $245

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Business, 15.07.2019 03:00, PrincessIndia

Suppose your firm has a u-shaped average variable cost curve and operates in a perfectly competitive market. if you produce where the product price (marginal revenue) equals average variable cost (on the upward-sloping portion of the avc curve), then your output willa.exceed the profit-maximizing level of output.b.generate zero economic profits.c.equal the profit-maximizing level of output.d.be smaller than the profit-maximizing level of output.

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Business, 13.11.2019 21:31, axxpjr12

Assume that the following conditions exist for a perfectly competitive firm: price = $8.50, current output = 100 units, atc at current output = $9.00, avc at current output = $8.00, total fixed costs =$100 and mc at current output = $8.00. a. is the firm earning any economic profit currently? how much is its profit or loss? b. is the firm maximizing its economic profit? what should the firm do to maximize profit or minimize loss? c. given your answers in part b, how will the market adjust to reach long-run equilibrium? include appropriate graphs in your explanation.

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