Question: Hi please help! The following table shows information for Hayek's Maps, a perfectly competitive firm. a. Complete the MC column in the table: Output TC
Hi please help!



The following table shows information for Hayek's Maps, a perfectly competitive firm. a. Complete the MC column in the table: Output TC MC 9 $ 96 l 1 192 96 2 286 88 3 358 78 4 4-58 100 5 SEE 110 6 698 130 7 878 180 8 1 ,163 225 b. Given the prices in table below, fill in columns 2, 3, 4 and 5 oftable. (Assume that partial units cannot be produced.) If you are entering any negative numbers be sure to include a negative sign {-) in front of those numbers. b. Given the prices in table below, fill in columns 2, 3, 4 and 5 of table. (Assume that partial units cannot be produced.) If you are entering any negative numbers be sure to include a negative sign {-) in front of those numbers. (3) (7) Total (4) (5) (6) Total (1) Price (2) Output Revenue Total Cost Profit/Loss Total Supply Demand 35 89 3 267 758 98 3 294 558 187 4 428 358 115 5 580 258 125 5 625 288 134 6 804 158 c. Suppose there are 90 firms identical to this one. Show the total supply in column 6 of table above. d. Ifthe market demand is as shown in column 7 oftable ,what will be the equilibrium price? What quantity will be traded in the market? Equilibrium price: $ Quantity traded: e. At equilibrium, what quantity will this firm produce? What will be its profit or loss? Quantity: ; (Click to select) v : $ f. As a result of your answer in (e), will firms enter or leave this industry? {Click to select} V
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