Ask Question, Ask an Expert


Ask Microeconomics Expert

Assume that a firm in a perfectly competitive industry has the following total cost schedule:

10 $110
15 $150
20 $180
25 $225
30 $300
35 $385
40 $480

A. find out a marginal cost and an average cost schedule for the firm

B. If the prevailing market price is $17 per unit, how many units will be produced and sold? What are profits per unit? What are total profits?

C. Is the industry in long-run equilibrium at this point?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M946495

Have any Question? 

Related Questions in Microeconomics

Discussion questionread the wall street journal article the

Discussion Question Read the Wall Street Journal article, The Dish on Hotel Air, (Goetz, 1999) and review the Pure Solutions website related to ultra clean rooms, assess whether you think the hypoallergenic room concept ...

Discussion questionon the surface hinduism appears

Discussion Question On the surface, Hinduism appears radically different from Abrahamic religions like Islam and Judaism. However, Hindu teachings state that there is a single divine essence in the universe. Consider too ...

Httpswwwyoutubecomwatchvhblevnwyg8what was the promise of What was the promise of capitalism? Discuss the important milestones and historical developments in economic theory and specify the contributions of each of the profits.

Assignment descriptiondo patients with no other treatment

Assignment Description Do patients with no other treatment options have a moral right to unproven drugs? Write a paper that explains and defends your view on this issue. Be sure to weave and cite the resources throughout ...

Based upon your reading of the materials giving and your

Based upon your reading of the materials giving, and your own additional research, prepare an essay discussing the use of infectious disease as a weapon of international terror. You should address the following questions ...

Topic 1 costs and economies of scaleyou have learned a good

Topic 1: Costs and Economies of Scale You have learned a good deal about production costs and profit in this unit. You have also learned that accountants and economists calculate profit differently. Moreover, many suppli ...

Discussion forumtopicsanother reason to hate the yankeesand

DISCUSSION FORUM Topics: Another reason to hate the Yankees...and the Red Sox, the Dodgers, the Cardinals, even the Pirates Yankee Stadium and the Power of Sports Monopolies ...

1 mary has two possible career paths she can become either

1. Mary has two possible career paths. She can become either a biologist or a concert pianist. Mary lives for 2 periods. In the first period she gets the appropriate education for her career. In the second period, she wo ...

Questiondescribe the sydney entrepreneur ecosystem by

Question: Describe the Sydney entrepreneur ecosystem by identifying each component and providing a list and one-sentence description of players in each component. Within the category of investors or startups there are to ...

Discussion questionthe value of teams in strategic

Discussion Question The Value of Teams in Strategic Management The value of teams is often described in the work product created by teams versus individuals. Using available research, how does team work differ from indiv ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate