Question: Given the information in the table below for a firm in a perefctly competitive market a. What is the profit for the if price=$20? make

Given the information in the table below for a firm in a perefctly competitive market

a. What is the profit for the if price=$20? make sure to give me a dollar amount rather than an output level

b. What is the short-run shut down price?

c. What is the break even price?

Q. MC($). AVC($). ATC($)

0

40 12.50 12.50 12.50

100 8.33 10.00 19.00

130 16.66 11.53 18.46

150 25.00 13.33 19.33

160 50.00 15.62 21.25

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!

Q:

Given the information in the table below for a firm in a perfectly competitive market: a. (2 pts) What is profit for this firm if price = $227 (You will need the optimal production quan calculate...

Q:

This assignment asks you to derive and plot cost curves for a firm. It then asks you to look at the production decisions of that firm in various settings. Everybody's firm will be a little different....

Q:

\begin{tabular}{|r|r|r|r|r|c|} \hline \hline & \multicolumn{3}{|c|}{A} & \multicolumn{1}{|c|}{C} \\ \hline 42 & 2509 & 0.B & 0.91 & 1 & 0 \\ \hline 43 & 2.184 & 0.89 & 0.59 & 1 & 0 \\ \hline 44 &...

Q:

Scenario 13-8 Figure 7-4 Wanda owns a lemonade stand. She produces lemonade using five inputs: water, sugar, lemons, paper cups, and labor. Her costs per glass are as follows: $0.01 for water, $0.02...

Q:

Scenario 13-8 Figure 7-4 Wanda owns a lemonade stand. She produces lemonade using five inputs: water, sugar, lemons, paper cups, and labor. Her costs per glass are as follows: $0.01 for water, $0.02...

Q:

Scenario 13-8 Figure 7-4 Wanda owns a lemonade stand. She produces lemonade using five inputs: water, sugar, lemons, paper cups, and labor. Her costs per glass are as follows: $0.01 for water, $0.02...

Q:

O (PC - PP) x QE Zoom out (PC - PP) x (QE - Q") x Question 3(Multiple Choice Worth 1 points) (03.02 MC) Use the graph to answer the question that follows. Price MC ATC ATC, Quantity (units) The shift...

Q:

Question 3 (Chapter 3) A labor market has, like any other market, has both a demand side and a supply side. More specifically, the employer is the buyer of labor; the job seeker is the seller of...

Q:

4 Files 12:47 PM Mon May 16 Insert Draw Layout Review View Unit 3Microec0nomics Name: ELASTICITY Use the space below to take notes during class. Elastic: Unit Elastic: Inelastic: Perfect...

Q:

Unit Information PEN593 Energy Economics Teaching Period: S2 2022 This guide should be used in conjunction with the Handbook as the official source of information about this unit. Refer to myMurdoch...

Q:

Compare and contrast the ideals of Romanticism and the Enlightenment. Reading preparation: An Age of Revolutions in Europe and the Americas and Lyric Poetry in the Long Nineteenth Century Puchner,...

Q:

Refer to the example of Tradewinds Company illustrated by the timeline in Exhibit 3-2 and the facts given at the beginning of Section B, "Accrual versus Cash Accounting." In addition, assume that the...

Q:

Suppose a plane has x , y , and z - intercepts of 2 , 4 , and 3 respectively. a ) Find the derivative in the x - direction. b ) Find D ( 0 , 1 ) f ( x , y ) . c ) What is the direction ( as a two -...

Q:

In auditing Train Company, you obtain directly from the bank Train s bank statement, canceled checks, and other memoranda which relate to the company s bank account for December 2 0 1 6 . In...

Q:

Food scientists have created a new oil. At room temperature, the oil is a liquid. As the oil gets colder however, it stiffens (thickens) into a sticky gel. To explore the properties of the oil, the...

Q:

Handy Appliances Ltd. (HANDY) is a Canadian controlled private corporation which imports and sells kitchen appliances. The following is the trial balance of HANDY for the year ended December 31,...

Q:

Assessment Section 1 1 Queries with Restrictions Assessment This database contains data about crimes reported in the city of Chicago during 2 0 1 8 . 1 . 1 What are the details of the community area...

Q:

QUESTION (20 Marks) Muggic Pvt has an opportunity to develop new technology in its area of interest. It is forecasted that within four (4) years of introduction, other innovations will render the...

Q:

Write a program to wish happy birthday to a student. Firstly, take today month and day as an input and secondly take birthday as an input in the form of month and day. If the input day and month...

Q:

2. Ask questions, listen rather than attempt to persuade.

Q:

9. How much of the information collected will be used in decision-making?

Q:

1. Background knowledge of the subject and