15. Assuming this firm maximizes profit, it will: a. Produce QA regardless of pricet b. Produee 0A onlý at price of P CMake.azero profit at price P2 (output 0C d. Make a profit of KL times OD at price P1
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A: The Profit is maximized where the MR = MC. thus, profit maximization condition: MR = MC.
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- 11. Explain the condition of equilibrium of a firm based on marginal cost and marginalrevenue. Need details explanation and make sure that no plagiarised answerV See Hint Suppose that Juan sells burritos. The total cost of production, based on the number of burritos produced, is shown in the following table. Number of burritos Total cost ($) 1. 8) 2. 10 3) 13 4. 18 25 34 7. 45 Suppose that the price is $6. Assuming profit maximization, how many burritos will Juan sell? asopdneMarginal cost is given by 20 + 10Q- 12Q2. Fixed cost is 100. What is the average cost? O A. 100 -3Q2 + 20Q + 20 + 20 O B.402 + 5Q+80 + 20 OC3Q2 + 10Q+ 80 + 100 4Q2 + 5Q +20 + Type here to search ASUS VivoBook SC 图 prt sc insert (3 ) f7 f9 home f11 Pgup f12 Pgdn fo f10 end & 7 4 %$4 5. 1/2 #3 of 3.
- If a firm wanted to reduce the annual EOQ cost as a percentage of the annual purchasecost by 50 percent, how would the demand rate have to change?a. Decrease by 50 percentb. Remain unchangedc. Increase by 50 percentd. Doublee. QuadruplePrice and cost $4.00 3.20 2.40 1.60 0 Questraq; not sugamon Isnigiem sunsven lang jam neris MC ITAALS 25006 DMC Sorberg in ATC AVC HONDE SOM= 15152 850 1,700 MR 2,550 D Quantity a. If Elijah produces at the profit-maximizing level of output, how much is his total revenue? How much is his total cost? Briefly explain your calculations. a. How much economic profit is Elijah earning? Briefly explain your calculation.Price 2000 Multiple Choice MC P₂ ATC AVC g.opp. 9₂ Quantity Refer to the accompanying diagram. The firm will realize an economic profit if price is MP₂ MP₂ MP,
- Don't use chatgpt or any AI A profit-maximising firm in a competitive market is currently producing 1,000 units of output. It has average revenue of $50, average total cost of $40 and fixed cost of $10,000. a) What is its profit? b) What is its marginal cost? c) What is its average variable cost? Is the efficient scale of the firm more than, less than or exactly 1,000 units?Price and costs (dollars per unit) 25 820 15 10 5 O PER A MR The restaurant capacity output is 12 16 20 24 Quantity (units per day) MC ATC meals, the restaurant produces profit, therefore the restaurant capacity is underutilized by. a) 8, 4, $60, 4 meals b) around 12, 8, $80, 4 meals c) 16, 8, normal profit, 8 meals d) 20, 8, $80, 12 meals meals and earns meals.$30 M ATO 20 AVC 15 75 80 100 Output 1-At which point the firm gets abnormal profit? 2- based on your answer in question one, what is the amount of total revenue? 3- based on your answer in question one, what is the amount of abonormal profit? 4-Find the value of Average Fixed cost at Q= 100 5- Determine the shutdown point? For the toolbar, press ALT+F10 (P) or ALT+FN+F10 (Mac).
- Figure 9-16 $/4 MC 6.70 6.00 ATC 4.90 AVC 4.00 = MR 2.80 2.60 12 14 If the price-taker fırm in Figure 9-16 9-16.png is currently producing 6 units, then to maximize profit in the short run, it should keep producing 6 units increase production to 12 units increase production to 14 units increase production to 8 units O shut downbased on the information in the table what is marla's profit margin? marla's smoothie shop total revenue-$1,400total cost- $900average cost- $7fixed cost-$700quantity-200 A.$3.50 B.$2.50 C.$4.50 D.$5.00Question Four a) A fim, focusing on producing meat pie has a demand function 20 25-0.25P. If fixed cost is 145 and variable cost per urit function is 2Q- 40 + , where Q is number of meat pie produced and Pis the price per unit: i. 275 Determine the number of meat pies that maximizes the company's profit. ii. How much should the fimcharge per unit of the product? iii. Find the total profit at the profit mximizing level of output. iv. Using the own price edasticity of demand, comment on the fimis pricing policy optiors. b) The production function for Amzonbuưgers, producers of delicious burgers at Sao Tome, is given as: Q = K%L% If the wage rate is $15 per unit of labour, and cost of capital is $1,920 per unit and you have 1 unit of capital which carmot be changed, and the firmemploys 8 units of labour; i. Calculate the fimts total cost ii. Calculate the fim's average cost ii. Estimate the marginal product of labour