Problem1 suppose that the profit-maximizing quantity of, Ask an Expert

Economics

Problem

1. Suppose that the profit-maximizing quantity of output for a firm in the competitive textile industry is 1 million yards of cloth. If this firm is representative of others in the industry, how can you describe total supply in the market, with respect to the number of firms?

2. What would you expect to happen to market supply if variable costs decreased for individual firms in the market?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92758091

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question a risk-averse economic agent with a yearly income

Question: A risk-averse economic agent with a yearly income off $100,000 inherits a vineyard. In dry years, the vineyard's harvest is worth $100,000; in wet years, the vineyard's harvest is worth $20,000. Each year there ...

Question in no-fault insurance anyone involved in an

Question: In no-fault insurance, anyone involved in an accident is compensated for losses, regardless of who actually caused it. What do you expect will happen to the volume of auto accidents if no-fault insurance replac ...

Question 1 discuss what is meant by the term risk

Question: 1) Discuss what is meant by the term risk assessment and describe the steps that constitute risk assessment. In your answer, please also discuss human exposure assessment and how it is similar and different fro ...

Question you could write on any one of the following topics

Question: You could write on any one of the following topics or more than one topics. Please be reminded that while research could help for this essay, however, the most important thing is original idea. 1. Money is said ...

Question in the late 1990s dr chris sarra became the first

Question: In the late 1990s, Dr Chris Sarra became the first Aboriginal principal of Cherbourg State School where he made significant changes to the way that Indigenous students experienced education. Dr Sarra challenged ...

Question suppose you are the manager of a chain of computer

Question: Suppose you are the manager of a chain of computer stores. For obvious reasons you have been closely following developments in the computer industry, you have just learned that the government has passed a two-p ...

Question 1 what is the presumed purpose of all legislation

Question: 1. What is the presumed purpose of all legislation according to the economic theory of legislation? 2. How do the concepts of "concentrated" and "diffuse" interests determine whether a group represents its inte ...

Question the demand for boobles can be written as q 11000

Question: The demand for boobles can be written as: Q = 11,000 - 8P. 1. Calculate the price, quantity, total revenue and marginal revenue when the elasticity of demand = -2.2. 2. Calculate the price, quantity, total reve ...

Question select an organization with which you are familiar

Question: Select an organization with which you are familiar or an organization where you work. Develop a 15- to 20-slide Microsoft® PowerPoint® presentation to be presented to the CEO's executive committee that addresse ...

Question if workers contribute to their groups investments

Question: If workers contribute to their group's investments and decide on these investments, workers at different stages of their careers may want different types of capital, for example a durable building versus a temp ...

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

Recent Questions

Ask Microeconomics Expert