Suppose a firm sells in a competitive market at a fixed price of $12 per unit. The

Question:

Suppose a firm sells in a competitive market at a fixed price of $12 per unit. The firm's cost function is C = 200 + 4Q. Determine the minimum quantity at which the firm can break even. Are there multiple break even points? Explain

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Managerial economics

ISBN: 978-1118041581

7th edition

Authors: william f. samuelson stephen g. marks

See More Books

Question Posted: Aug 05, 2013 03:41 AM

See More Questions

Suppose a firm sells in a highly competitive market where the going price is $15 per unit. Its cost equation is C = $25 + .25Q2. A. Find the profit maximizing level of output for the firm. Determine...
Suppose the same firms cost function is C (q) = 4q2 + 16. a) Find variable cost, fixed cost, average cost, average variable cost, and average fixed cost. (Marginal cost is given by MC = 8q.) b) Show...
A manufacturing concern's total cost function is C = X/5 and its revenue function is R = 39 log(8X + 1). Find the optimum output where the profit is maximized and the maximum profit.
Debbie Walker earns a salary of $4,000 per month during the year.Employment Insurance taxes (EI) are 1.88% of the first $49,500 in earnings. The Canadian Pension Plan (CPP) rate is 4.95% of the first...
The discharge in a rectangular channel 4 m wide is constant. A depth of 2.3 m is maintained by a 1.7-m-high contracted (both ends) horizontal weir (C = 1.86) with a 1-m-long horizontal crest. This...
Model a set of typical family relationshipsspouse, father, and motherin a single 3NF relation. Also include nonkey attributes name and birth date. Assume that each person has only one spouse, one...
Table 3.4 on page 208 shows the number of points scored and penalty minutes for 24 ice hockey players on the Ottawa Senators NHL team for the 2014-2015 season. The data are also stored in...
Suppose a study reports that the average price for a gallon of self-serve regular unleaded gasoline is $3.76.You believe that the figure is higher in your area of the country. You decide to test this...
Taxpayer and spouse, both under 65, file a joint return. They provided more than 50% of the support for two unmarried children, ages 15 and 16. Both children live with the taxpayer. One child earned...
A single contribution may affect all three types of funds. The following events and transactions relate to a single contribution. 1. A high-tech firm pledged to contribute $1 million in the company's...
The demand for good x is given by Qdx= 1200- 1/2Px+1/4Py-8Pz+1/10M Py = $5900 Pz = 90 M = 50550 a. Indicate whether goods Y and z are substitutes or complements for good x b. Is x an inferior or...
Max is a home builder in the Midwest. Although sales have slowed because of the recession, it looks like the recession is about to end. He wants to be ready with material, labor, and foremen to meet...
Normal butane and isobutane have boiling temperatures of 0.5 and 12.3C (31.1 and 9.9F), respectively. Briefly explain this behavior on the basis of their molecular structures, as presented in Section...
a. If there are 10 voters and 5 candidates, how many total points would there be in a Borda count? b. If there are 20 voters and 4 candidates, how many total points would there be in a Borda count?...
Chemistry is taught at five high schools in the Santa Rosa Unified School District. The district has just received a grant of 100 microscopes which are to be apportioned to the five high schools...
Find the standard divisor (to two decimal places) for the given populations and number of representative seats in Problems 15-22. Population 62,300,000 # Seats 225
Consider a vote for four candidates with the following results: Use this information for Problems 9-11. If there is a tie, break the tie by having a runoff of the tied candidates. If B pulls out...
The seniors at Weseltown High School are voting for where to go for their senior trip. They are deciding on Angel Falls (A), Bend Canyon (B), Cedar Lake (C), or Danger Gap (D). The results of the...
Which of the following statements about ODL is correct? a. ODL is only optimized for Java objects. b. The extent of a class is the set of all current instances. c. Many-to-many relationships cannot...
Why are stocks usually more risky than bonds?
Access the file PRODUCTION FUNCTION in which output is expressed as a function of the number of labor hours used in the production process. Graph the relationship with output on the vertical axis....
Transaction data for Hanshew Real Estate Agency are presented in E2-4. Instructions Journalize the transactions. (You may omit explanations.)
Konerko Industries had the following transactions. 1. Borrowed $5,000 from the bank by signing a note. 2. Paid $2,500 cash for a computer. 3. Purchased $700 of supplies on account. Instructions (a)...
Rowand Enterprises had the following selected transactions. 1. Aaron Rowand invested $4,000 cash in the business. 2. Paid office rent of $1,100. 3. Performed consulting services and billed a client...
Textile Crafts Company (TCC) sells craft kits and supplies to retail outlets and through online sites such as Etsy.com. Some of the items are manufactured by TCC, while others are purchased for...
Find the missing value in the following table. The following financial statement information is from five separate companies. Company Company Company Company Company A B C D E December 31, 2016...
Sunshine Sushi, a Japanese restaurant, has the following adjusted trial balance with accounts listed in alphabetical order. For the bank loan, $60,550 is due in 2024. For Notes receivable, $41,500...

Suppose a firm sells in a competitive market at a fixed price of $12 per unit. The

Question:

Step by Step Answer:

The firm can breakeven when the total revenue equals the total cost T...View the full answer

Managerial economics

Students also viewed these Economics questions