Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Microeconomics Expert

A new production technology for making vitamins is invented by a college professor who decides not to patent it. Thus, it is available for anybody to copy and put into use. The TC per bottle for production up to 100,000 bottles per day is given in the following table.

a. What is ATC for each level of output listed in the table?

output TC ATC
25,000 50,000 ?
50,000 70,000 ?
75,000 75,000 ?
100,000 80,000 ?

b. Suppose that the price of a bottle of vitamins is $1.33 and that at that price the total quantity demanded by consumers is 75,000,000 bottles. How many firms will there be in this industry?

c. Suppose that, instead, the market quantity demanded at a price of $1.33 is only 75,000. How many firms do you expect there to be in this industry?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M947943

Have any Question? 


Related Questions in Microeconomics

Discussion 1long-term investment and cost-benefit analysis

Discussion 1 "Long-Term Investment and Cost-Benefit Analysis" Please respond to the following: · From the scenario for Katrina's Candies, suggest one method in which Herb could use a cost-benefit analysis to argue for or ...

Organisation theory multiple perspectivesconcepts you

Organisation Theory: Multiple Perspectives Concepts you should know: a. Communities of Practice b. Social Learning c. Institutionalisation Discussion questions: a. Are the concepts of communities of practice and social l ...

Q1 show a short run situation where a perfectly competitive

Q1. Show a short run situation where a perfectly competitive firm is earning negative profit but deciding that it would be profitable to continue production for the short run. Include in your graph, ATC, AVC, MC, AR, P, ...

Assignmentdoes your organization have a project portfolio

Assignment Does your organization have a project portfolio management process in place? Write 1100 words in APA format in response Think of a project that you have worked on. Suppose your team and any contractors associa ...

Read the case target from expect more to pay less on pages

Read the case "Target: From 'Expect More' to 'Pay Less'" on pages 103 to 105 of the textbook and prepare answers to the questions below. Question 1 Identify four actors in the microenvironment that haveaffected Target's ...

Human relations amp workforce planningpharmanetixfor your

Human Relations & Workforce Planning PHARMANETIX For your final project, you need to write a 10-15 page proposal to me, the Chairman of the Board for Pharmanetix. Here are some helpful hints when writing this proposal: 1 ...

Clarkson v orkin exterminating co incwrite a brief in the

Clarkson v. Orkin Exterminating Co., Inc. Write a brief in the prescribed format. Fact,Issue,Holding,rationale Case Questions 1. Why did the trial court grant the plaintiff's summary judgment motion and order reformation ...

1what is the connection between economic and environmental

1. What is the connection between economic and environmental shocks (e.g. global events, wars, commodity price fluctuations) and changes in money and banking strategy? Highlight specific examples. THESE ARE THE INSTRUCTI ...

Assignment external financinggenesis energys newly

Assignment: External Financing Genesis Energy's newly established operations management team decided to seek outside assistance in developing a long-term operating plan that also addresses the financial issues identified ...

Assignmentplease make sure all graphs are clearly labeled

Assignment Please make sure all graphs are clearly labeled. Each of these questions should be answered with complete sentences. Due at the start of class Sept 27th; no late homework is accepted. All questions are taken f ...

  • 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