(Answered) Q1 the market for apples is perfectly competitive say a

Engineering

Q1. The market for apples is perfectly competitive. Say a typical firm has a marginal cost function of MC(q) = 2q.

(1) The optimal quantity of apples to produce is 10 for the typical firm. How much revenue does the firm earn?

(2) In the short run, what condition causes a perfectly competitive firm to shut down? Will a firm remain in the apple business if they are incurring a loss?

Q2. Imagine there is a market for buying monopolies which is perfectly competitive and is at its long run equilibrium. Assume all firms in this market have only two options: run the monopoly themselves or sell it. What is the profit the monopolies will make after they are purchased?

View complete question

Computer Engineering, Engineering

Category:- Computer Engineering
Reference No.:- M93132971
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Computer Engineering

Question two paragraphs eachseparate responds1 uml and omg

Question: TWO PARAGRAPHS EACH SEPARATE RESPONDS 1. "UML and OMG" Please respond to the following: Identify the benefits that UML brings to the software development industry. Speculate UML's development and its future inf ...

The correlation between the height of fathers in the

The correlation between the height of fathers in the heights of their sons is r=0.52. Which kind of the following would not change r? a) measuring their height in centimeters rather than inches. b) removing two outliers ...

Aaninformationretrievalsystemhasacertainpairofaverageprecisi

(a) An information retrieval system has a certain pair of average precision and recall values when the system returns 10 documents in response queries. Would the precision and recall rate remain unchanged if the system w ...

Calculate the standard gibbs free energy change and the

Calculate the standard Gibbs free energy change and the equilibrium constant for the oxidation of a formate ion to carbon dioxide at pH=7 and room temperature.

Simple coding help needed for java programhere is the

SIMPLE CODING HELP NEEDED FOR JAVA PROGRAM Here is the program description: Write a program that supports the following operations: int add(string login, string time, int priority, int size, int handle): add a new reques ...

The scenario is to create a program for a windows company

The scenario is to create a program for a windows company. The program should display the total amount a customer owes, given the number of windows ordered and the price per window. Total owed is calculated by multiplyin ...

Question an agile-focused mind-set in project

Question: "An Agile-focused Mind-set in Project Management" • Read the following two (2) articles: "The Scrum Guide," located here and "Core Scrum," located here. Contrast the role of a Scrum Master and the role of a pro ...

Need help with a java program that takes two arrays a and b

Need help with a Java program that takes two arrays a and b of length 5 storing int values, and returns the dot product of a and b. That is, it returns an array c of length n such that c[i]=a[i]*b[i].

Wanda is placing dog biscuits in her bed to save them for

Wanda is placing dog biscuits in her bed (to save them for later). How many patterns can she create if she has 6 beef biscuits, 8 chicken biscuits, and 3 bacon biscuits, assuming she must place all 10 biscuits?

Subject computer algorithmsbook introduction to algorithms

Subject : Computer Algorithms Book: Introduction to Algorithms 3rd edition 1) a) Using Figure 10.1 as a model, illustrate the result of each operation in the sequence PUSH(S,6), PUSH(S,2), PUSH(S,8), POP(S), PUSH(S,5), P ...

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 Computer Engineering Expert