Output level of profit maximizing of competitive firm

The profit maximizing competitive firm in illustrated graph will: (i) produce output level q5. (ii) minimize total costs by producing output level q3. (iii) experience fixed costs equal to 0P3fq4. (iv) produce output level q4. (v) inevitably experience economic losses.

1858_Total Revenue1.png

How can I solve my Economics problem? Please suggest me the correct answer.

View Complete Question

Related Questions in Microeconomics

Q : Increasing-cost industries average

Within increasing-cost industries average there are: (w) production costs fall as output increases. (x) production costs rise as the number of firms in the industry grows. (y) production costs rise when the number of firms into the industry falls. (z)

Q : Increasing demand for Complementary

Can someone please help me in finding out the accurate answer from the following question. When tortilla chips go on sale for fifty percent off, then the demand for salsa is most probable to: (1) Stay similar. (2) Reduce. (3) Raise. (d) Raise only when salsa as well g

Q : Reason of existence of firms Can

Can someone please help me in finding out the accurate answer from the following question. The primary reasons for the existence of firms would not comprise: (1) Collecting sales taxes for government. (2) Entrepreneurial drives for the potential gains. (3) Cutting tra

Q : Define Inferior good Inferior good : It

Inferior good: It is a good for which, other things equivalent, a rise in income leads to a reduction in demand.

Q : Weakest and least efficient producers

Cartels are generally supported most strongly by: (w) the largest and most efficient producers in the industry. (x) the weakest and least efficient producers in the industry. (y) buyers of the output of the industry. (z) consumer advocate groups.

Q : Minimum wage laws for graduates students

Casual surveys of students at the starting of each semester reveal an amused although overwhelming maintain for a proposal to increase the legal minimum wages of graduates from college to $50,000 yearly. They supposed our proposal was facetious. But a

Q : Tourism effects How tourism effects in

How tourism effects in an upcoming industry?

Q : Profit from cost structures and market

When cost structures and the market demands facing each of the given types of firms were identical, in that case the greatest profits would be generated through a: (1) pure monopolist. (2) price discriminating monopolist. (3) perfectly competitive fir

Q : Problem of recession shrinks incomes on

I have a problem in economics on recession shrinks incomes on normal goods. Please help me in the following question. When a recession shrinks the incomes, then market demand for filet mignon (that is, a luxury) will proportionally: (1) Increase faster than income dro

Q : Maximizes profit in production of

When Robomatic Corporation maximizes profit in its production of RoboMaids, its monthly total revenue will be roughly: (i) $100 million. (ii) $140 million. (iii) $160 million. (iv) $200 million. (v) $240 million.

Discover Q & A

Leading Solution Library

Avail More Than 1460008 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1921820
Asked

3,689

Active Tutors

1460008

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment