+1-415-315-9853

info@mywordsolution.com

## Economics

 Basic Economics Macroeconomics Microeconomics Business Economics Econometrics International Economics Managerial Economics Game Theory Public Economics

Compute product equilibrium price, output and profit.

Suppose a single company in a purely competitive company has variable costs as indicated in the subsequent table in column 2. Complete the table and answer the problems.

 (1) Total product (2) Total var. cost (3) Total  cost (4)AFC (5) AVC (6) ATC (7) MC 0 \$    0 \$   40 \$_____ \$_____ \$_____ 1 55 _____ _____ _____ _____ \$_____ 2 75 _____ _____ _____ _____ _____ 3 90 _____ _____ _____ _____ _____ 4 110 _____ _____ _____ _____ _____ 5 135 _____ _____ _____ _____ _____ 6 170 _____ _____ _____ _____ _____ 7 220 _____ _____ _____ _____ _____ 8 290 _____ _____ _____ _____ _____

a) At a product price of \$52, will this company capable to produce in the short run?  describe.  Illustrate what will its profit or loss is?

b) At a product price of \$28, will this company capable to produce in the short run?  describe.  Illustrate what will its profit or loss is?

c) At a product price of \$22, will this company capable to produce in the short run?  describe.  Illustrate what will its profit or loss is?

d) Complete the subsequent short-run supply schedule for this company.

 Product Quantity Profit (+) price supplied or loss (-) \$72 _____ _____ 52 _____ _____ 45 _____ _____ 28 _____ _____ 22 _____ _____ 15 _____ _____

Suppose there are 500 identical companies in this company, which they have identical cost data as the company above, and which the company demand schedule is as follows:

 Price Quantity demanded \$72 2500 52 3500 45 4000 28 5200 22 5900 15 6700

e)Illustrate what will the equilibrium price be?

f)Illustrate what will the equilibrium output for each company be?

g)Illustrate what will profit or loss be per unit?

h)Illustrate what will profit or loss be per company?

• Reference No.:- M917226

Have any Question?

## Related Questions in Business Economics

### 1what is the production possibilities curve and how is it

1. What is the production possibilities curve and how is it useful? 2. What 4 factors contribute to determining any point in this model? 3. How would we apply this framework to the real world? 4. You are planning to expa ...

### Question 1 for the following situations calculate

Question 1 . For the following situations, calculate elasticity of demand and comment on the answer.                             When the price of commodity X was Rs. 12/-, 40 units it were demanded. When the price decre ...

### What is the relationship between economy business and

What is the relationship between economy, business, and society? -6 page essay (includes only ONE page for references,but the cover page is not included in the 6 page requirement) -Double spaced -APA format

Free Trade and Restricted Trade - Benefits and Cost 1-2 paragraphs APA format/ no plagarism Using your own words, define both free and restricted trade. What do you feel are the benefits and the cost to having free trade ...

### Assignmentarticle reportplease select a marketing topic you

Assignment Article Report Please select a marketing topic you learned and then search in the Wall Street Journal (either online or hardcopy *) and select an article about that topic within the last 12 months. To do this, ...

### Assessment task in this assessment students are required to

ASSESSMENT TASK: In this assessment, students are required to demonstrate their ability to apply economic principles learnt in this subject to analysing real-world business operations and evaluate how their long-run busi ...

### Cite the sources used to answer this question provide the

Cite the source(s) used to answer this question. Provide the source(s) below your response and apply APA guidelines for references. 1) Class, is it possible for a business to show an accounting profit, but actually earn ...

### Assignmentpart idirections please write a paper that is at

Assignment PART I Directions: Please write a paper that is at least two to three pages in length in which you address the questions below. Write your paper in APA format with at least one cited scholarly reference. Revie ...

### Assignmentyou must submit 2 files to this link once done as

Assignment You must submit 2 files to this link once done as follows: Part 1) An MS Excel spreadsheet (.xls or .xlsx no other file formats will be accepted) use the dataset spreadsheet provided for the assignment and inc ...

### Allocation and allotments please respond to the following1

"Allocation and Allotments" Please respond to the following: 1. From the first e-Activity, examine and evaluate the disparity of Georgia budget allocation for education and property tax to the various localities. Based o ...

• 13,132 Experts

## 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.

### WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

### Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

### Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

### Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

### Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro