Question: 54 - Refer to the graph below, what is the profit maximizing output when the price is $30 for a perfectly competitive firm? *

54 - Refer to the graph below, what is the profit maximizing output when the price is $30 for a perfectly competitive firm? * Revenue and cost (dollars per unit) 50 40 30 20 10 o a) 10 units b) 38 units c) 25 units 10 20 30 ATC A vc 40 50 Output (units per day) d) Need more information

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Thank you for your help! This will help me study for my exam. Question 31 (1 point) _II Which of the following is not an economic cost? 0 interest 0 economic profit 0 rent 0 normal profit Question 32...

In need os explained answrrs 110) Suppose that marginal revenue for a perfectly competitive firm is $20 . When the firm produces 110) 10 units, its marginal cost is $20, its average total cost is...

refer to the files below (20 points) The market inverse demand curve is P(y) = 10 - 2y, and a monopolist's cost curve is y2 + 2. (a) What output level y maximizes the monopolist's revenue? What...

... Multiple choice questions. Answers and explanations needed. Answer all questions up to number 55 UNITS OF MANUFACTURED GOODS AND 33. If a severe drought destroys a significant portion SERVICE...

Use the table given below to answer the following questions: Table: Production and Pricing Quantity Produced Total Cost ($) Total Revenue ($) 0 10 0 1 12 8 2 16 15 3 22 21 4 30 24 5 40 25 Calculate...

In order to answer these questions, you will need to read Chapter 9: " Market Equilibrium & Product Price - Imperfect Competition Question #1: Explain the 3 types of "Imperfect" market structures...

To answer these questions, you will need to read Chapter 9, Market Equilibrium & Product Price - Imperfect Competition and please good Good format. #. Explain the 3 types of "Imperfect" market...

9) The demand curve faced by the individual perfectly competitive firm is: A) perfectly elastic. B) perfectly inelastic. C) unit elastic. D) elastic or inelastic depending on price. Answer: 3...

1) Wendy spends all of her weekly allowance ($12) on candy bars and hotdogs. Each candy bar costs $1 and each hotdog costs $2. The marginal utility of candy bars is 8 and the marginal utility of...

Answer this questions by providing the corect answers. (a) Using the numbers in the graph, identify each of the following. (i) The profit-maximizing output quantity (ii) The profit-maximizing price...

The jack AB is used to straighten the bent beam DE using the arrangement shown. If the axial compressive force in the jack is P, determine the internal moment developed at point C of the top beam....

Jane owns 1000 shares of ABC that she purchased 93 days ago for $51.23/share. It has fallen slightly and is currently trading at $44.69/share. The current risk-free rate is 2.1%. Jane purchased 1000...

Consider the following differential equation. x 2 y ' ' - 3 x y ' - 9 y = 0 Find all the roots o f the auxiliary equation. ( E n t e r your answers a s a comma - separated list. ) Solve the given...

Mayer Company signed a lease for an office building for a period of 12 years. Under the lease agreement, a security deposit of $9,200 is made. The deposit will be returned at the expiration of the...

For each of the following cases, indicate(a) To what interest rate columns and(b) To what number of periods you would refer in looking up the future value factor.(1) In Table 1 (future value of 1):...

On January 1, 2014, Kessler Inc. had these stockholders equity balances. Common Stock , $1 par (2,000,000 shares authorized, 600,000 shares issued and outstanding).................$ 600,000 Paid-in...

Jerry Rees invested $8,000 at 5% annual interest, and left the money invested without withdrawing any of the interest for 12 years. At the end of the 12 years, Jerry with-drew the accumulated amount...

On January 1, 2014, Ferris Inc. had these stockholders equity balances. Common Stock , $5 par (2,000,000 shares authorized600, 000 shares issued and outstanding) ...................$3,000,000 Paid-in...

Question 20 (6 points) Saved The maker of "Crocs" shoes uses a patented rubber material which is melted and formed into a shoe with an injection molding machine. The rubber is injected into molds in...

3. Give three examples from your own everyday life where a piece of communi-cation is structured into a linear sequence, i.e. B is the cause of A.

2. What information is conveyed through a particular type of metaphor? The answer to the question gives us insight into what code the person using the metaphor uses, and thus an insight into how...

2. Give six examples that silence (not saying anything) or not responding can be very informative to the other party.