Situations for firms in competitive markets, Microeconomics

+44 141 628 6080
[email protected]

Situations for firms in competitive markets

Analyze the two following situations for firms in competitive markets:

a. Suppose that TC=100 + 15q, where TC is total cost and q is quantity produce. What is the minimum price necessary for this firm to produce any output in the short run?

b. Suppose that MC=4q, where MC is marginal cost. The perfectly competitive firm maximizes profits by producing 10 units of out output.

At what price does it sell these units?

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Situations for firms in competitive markets

Reference No:- TGS062752

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Microeconomics

Q : What is the oil price

25% of the capex is spent in 2011, 40% is spent in 2012 and 35% is spent in 2013 (the capex is fully depreciated when spent)

Q : Write a programin c++ for matrix multiplication

Write a programin C++ for matrix multiplication. The program should accept the dimension of both the matrices to be multiplied and check for compatibity with approprite message and given the output.

Q : Technological advance impact production and pricing plans

The engineering department at BlackSpot has been steadily working on developing an assembly method that would dramatically reduce the marginal cost of producing these high-powered computers and has found a process that allows it to manufacture eac

Q : Though there are some drawbacks

Though there are some drawbacks to social networking, the benefits can outweigh the drawbacks if it is used properly. A whole world can open up, and interaction with people globally, as well as down the street, can be accomplished. It is best to be p

Q : Situations for firms in competitive markets

Analyze the two following situations for firms in competitive markets: Suppose that TC=100 + 15q, where TC is total cost and q is quantity produce. What is the minimum price necessary for this firm to produce any output in the short run?

Q : How does okubo represent japanese-american identity

Book=Citizen 13660...In her book, how does Okubo represent Japanese-American identity? Support your assertion with direct evidence(descripion of specific images/direct quotation).

Q : Determining the inverse demand function

Consider a market with an inverse demand function that is linear: P = 46 - 2Q. The cost at the wholesale level is 0 for each unit produced.

Q : How much raw material will the company need to buy

Refer to your answer to part (a). Assume now that for each unit the company produces, they will require 3kg of raw material. How much raw material will the company need to buy for the production units budgeted in part (a)?

Q : Determining the withdrawal period

When you retire, you will combine your money into an account with a 9 percent return. How much can you withdraw each month from your account assuming a 25-year withdrawal period?

1925504

Questions
Asked

3,689

Active Tutors

1441093

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Situations for firms in competitive markets

Reference No:- TGS062752

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : What is the oil price

Q : Write a programin c++ for matrix multiplication

Q : Technological advance impact production and pricing plans

Q : Though there are some drawbacks

Q : Situations for firms in competitive markets

Q : How does okubo represent japanese-american identity

Q : Determining the inverse demand function

Q : How much raw material will the company need to buy

Q : Determining the withdrawal period

What are the calculated rbc indices

Male who is developing an acute myocardial infarction

Discuss -healthcare staff and patients in a hospital setting

Discussion about female who had a cerebral infarction

Provide a brief description of the patient care technology

How soap note captures several important elements of ty case

Problem about post-emergency open fracture femur reduction

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Situations for firms in competitive markets

Reference No:- TGS062752

Recent Questions Asked Microeconomics

Q : What is the oil price

Q : Write a programin c++ for matrix multiplication

Q : Technological advance impact production and pricing plans

Q : Though there are some drawbacks

Q : Situations for firms in competitive markets

Q : How does okubo represent japanese-american identity

Q : Determining the inverse demand function

Q : How much raw material will the company need to buy

Q : Determining the withdrawal period

Asked Questions