Marginal cost (MC) = 2(Q) + 8
In a perfectly competitive market:
the market price is 30
Marginal cost (MC) = 2(Q) + 8
average total cost at equilibrium is 34, and
average variable cost at equilibrium is 5
Part 1: The profit maximizing price is
Part 2: The profit maximizing quantity is
Part 3: Total revenue is
Part 4: Total cost is
Part 5: Average fixed cost is
Part 6: Total fixed cost is
Part 7: Total profit/loss is
Part 8: Marginal revenue is
Part 9: At this market price, would firms
1. Enter the industry
2. leave the industry
3. There is no incentive to enter or leave the industry.
(assume all firms have the same cost structure)
Part 10: At the market price, could this be a long run equilibrium price? (if yes=1, no=2) (assume all firms have the same cost structure)
Answers: 2
Business, 21.06.2019 18:50, toshahoskins0098
You are the manager of a firm that produces output in two plants. the demand for your firm's product is p = 20 β q, where q = q1 + q2. the marginal costs associated with producing in the two plants are mc1 = 2 and mc2 = 2q2. how much output should be produced in plant 1 in order to maximize profits?
Answers: 3
Business, 22.06.2019 20:20, isabelperez063
Why is it easier for new entrants to get involved in radical innovations when compared to incumbent firms? a. unlike incumbent firms, new entrants do not have to face the high entry barriers, initially. b. new entrants are embedded in an innovation ecosystem, while incumbent firms are not. c. unlike incumbent firms, new entrants do not have formal organizational structures and processes. d. incumbent firms do not have the advantages of network effects that new entrants have.
Answers: 2
In a perfectly competitive market:
the market price is 30
Marginal cost (MC) = 2(Q) + 8
Marginal cost (MC) = 2(Q) + 8
Mathematics, 06.07.2019 03:40
History, 06.07.2019 03:40
History, 06.07.2019 03:40