FREE Trial

The bolt-making industry currently consists of 20 producers, all of whom operate with the identical short-run total cost curve STC(Q) = 16 + Q2, where Q is the annual output of a firm. The corresponding short-run marginal cost curve is

The bolt-making industry currently consists of 20 producers, all of whom operate with the identical short-run total cost curve STC(Q) = 16 + Q2, where Q is the annual output of a firm. The corresponding short-run marginal cost curve is SMC(Q) = 2Q. The market demand curve for bolts is D(P) = 110 − P, where P is the market price.
a) Assuming that all of each firm's $16 fixed cost is sunk, what is a firm's short-run supply curve?
b) What is the short-run market supply curve?
c) Determine the short-run equilibrium price and quantity in this industry.

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!
  • Tutor Answer

a First find the minimum of by setting The minimum level of is thus 0 When the price is 0 the f…View the full answer


answer-question
Related Book For  answer-question
Social Media Marketing A Strategic Approach

Social Media Marketing A Strategic Approach

ISBN: 978-0538480871

1st edition

Authors: Melissa Barker, Donald I. Barker, Nicholas F. Bormann, Krista E. Neher

See More Books
Posted Date: March 17, 2016 04:12:25
See More Questions

Students also viewed these Marketing questions

Q:
Matsumoto Limited (ML), a large conglomerate firm, has a capital structure that currently consists of 20 percent long-term debt, 10 percent preferred stock, and 70 percent common equity. ML has...
A:
w d 40 w p 10 w e 50 After tax debt cost 0 50 million 18 1 4 10 8 50 million 20 1 4 12 After tax pre......
Q:
The cheese-making industry in Castoria is competitive, with an upward-sloping supply curve and a downward-sloping demand curve. The government gives cheese producers a subsidy of $T for each kilogram...
A:
To conclude we can say that there is a difference between......
Q:
Which of Smiths points effectively support the conclusion that consumers have strong bargaining power over the industry? Mary Smith, a Level II CFA candidate, was recently hired for an analyst...
A:
Determinants of buyer power include buyer concentration buyer volume buyer information available s......
Q:
The kinetic energy of an electron in a particular Bohr orbit of hydrogen is 1.35 10-19 J. (a) Which Bohr orbit does the electron occupy? (b) Suppose the electron moves away from the nucleus to the...
A:
Write the kinetic energy in terms of the electron m......
Q:
If all the paths of data communications were visible to the human eye, we might be over- whelmed. Why? Give some examples.
A:
Wireless data communication technology is all around u......
Q:
Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation base is DLH and its standard amount per allocation base is 0.5 DLH per unit. The company reports the...
A:
1 2 3 Standard Overhead Rate Budgeted Standard Overhead D......
Q:
What should be the role of a project sponsor with regard to trade-offs?
A:
For internal projects the sponsor may be authorized to di......
Q:
Forty-five kilograms of a solution containing 30 wt% ethylene glycol in water is to be extracted with furfural. Using Figures 4.14a and 4.14c, calculate:(a) The minimum quantity of solvent.(b) The...
A:
For a single stage all mixtures of feed F and solvent S lie on a straight line between these two points as shown in the following ternary diagram of F......
Q:
1. Consider a Chord system with identifiers in the range [0, 31]. Suppose there are ten nodes with identifiers 0, 6, 8, 14, 16, 17, 22, 23, 26, and 30. (1) Assume there are 12 keys: 1, 2, 7, 9, 11,...
A:
ANSWER Question 1 Chord System 1 For each node in the network identify the keys that each node is responsible for Node 0 Responsible for keys 1 2 7 9......
Q:
The accompanying data file contains daily sales (in $) at Caf Venetian for 100 days. For cross-validation, let the training and the validation sets comprise the first 80 days and the last 20 days,...
A:
a The estimated trend models are Linear y t 154 422......
Q:
The annual accounting statement of revenues and costs for a local flower shop shows the following: Revenues ..........................................$250,000 Supplies...
A:
The accounting costs are Supplies 25 000 Employee Salaries 170 000 Total Accounting Cost 195 000......
Q:
Newsprint (the paper used for newspapers) is produced in a perfectly competitive market. Each identical firm has a total variable cost TVC(Q) = 40Q + 0.5Q2, with an associated marginal cost curve...
A:
a The firm will not produce any output when the price falls below the poi......
Q:
Landmark at Plaza Park, Ltd., filed a plan of reorganization under Chapter 11 of the Bankruptcy Code. Landmark is a limited partnership whose only substantial asset is a two-hundred-unit garden...
A:
Decision for City Federal For Landmark s plan to be accepted over City Federal s objection it must b......
Q:
To what extent do extralegal considerations come into play with regard to the above issues? Are there moral (or religious) dimensions to be considered when determining whether AI should be given...
A:
Extralegal considerations including moral ethical and religious dimensions can play a significant role in shaping discussions and decisions related to the legal and societal status of AI as well as it......
Q:
Adopting policies that maximize the value of AI encourages future development of these technologies. Such a course, however, is not without drawbacks. For instance, determining that a robot tax is...
A:
Cost Benefit Analysis Perform a thorough cost benefit analysis to quantify the potential gains and losses associated with different policy choices Con......
Q:
Enter google.com/scholar and search for articles that talk about Big Data versus data warehousing. Find at least five articles. Read and summarize your findings.
A:
The Role of Predictive Analytics in Supply Chain Optimization Summary This article explores how pred......
Q:
In 2011, to test its cognitive abilities, Watson competed on the quiz show Jeopardy! in the first-ever human-versus-machine matchup for the show. In a two-game, combined-point match (broadcast in...
A:
1 One of the most unique features of Watson is its ability to process and analyze vast amounts of structured and unstructured data quickly It had acce......
Q:
Refer to the information about Clausius Ltd. in BE13-11. Assume instead that the tax return indicated 2017 income tax of $10,200. (a) Prepare the adjusting year-end entry to recognize the 2017 income...
A:
a In this scenario we assume that the tax return indicated 2017 income tax of 10 200 To recognize th......
Q:
First Corp Bank advertises interest paid at 2% every 6 months. What is the APR?
A:
A......
Q:
Wholesalers Ltd. deals in the sale of foodstuffs to retailers. Owing to economic depression, the firm intends to relax its credit policy to boost productivity and sales. The firms current credit...
A:
A The costs and benefits under the existing terms of credit and under the proposed ter......
Q:
Marketers need to be extra sure their product works as promised when they first introduce it. How does this statement relate to what we know about consumers evoked sets?
A:
People are more likely to add a new brand to the evoked set than one tha......
Q:
Describe the difference between a super-ordinate category, a basic level category, and a subordinate category.
A:
Categories exist in a taxonomy from most concrete to most abstract The middle level kno......
Q:
List three products attributes that consumers can use as product quality signals and provide an example of each.
A:
1 Price Consumers commonly associate a higher price as an indicator of a......
Q:
Orange & Blue, Inc., incurred the following expenditures when purchasing land: $47,000 purchase price; $4,500 in taxes; $2,000 of sales commissions; and $13,000 for clearing and grading, of which...
A:
Cost 47 000 purchase pr......
Q:
During the current year, Black Corporation incurred the following expenditures which should be recorded either as operating expenses or as intangible assets : a. Expenditures were made for the...
A:
a Operating expense Although the training of employees probably has some benefit extending beyond th......
Q:
During the current year, Omega Products Corporation incurred the following expenditures which should be recorded either as operating expenses or as intangible assets : a. Expenditures were made for...
A:
a Operating expense Although the training of employees probably has some benefit extending beyond th......
Q:
A vessel is in the form of an inverted cone. Its height is 8 cm and the radius of its top, which is open, is 5 cm. It is filled with water up to the brim. When lead shots, each of which is a sphere...
A:
The detailed......
Q:
Active Management of Labor (AML) was introduced in the 1960s to reduce the amount of time a woman spends in labor during the birth process. R. Rogers et al. conducted a study to determine whether AML...
A:
The range of a data set is defined to be the difference between the......
Q:
Illustrate the effects on the accounts and financial statements of recording the following selected transactions: a. Sold $11,250 of merchandise on account, subject to a sales tax of 6%. The cost of...
A:
a b Statement of Cash Flows Accts Rec 11 925 Balan......
Q:
Maintaining a uniform load on the facility by synchronizing the demand and supply is an important JIT concept, especially for service operations. How might this be applied to the tendering operations...
A:
One example is how CII uses the onboard facilities on days......
Q:
(Multiple Choice) 1. Which of the following statements is correct? a. TCP/IP is the basic protocol that permits communication between Internet sites. b. TCP/IP controls Web browsers that access the...
A:
1 a LAN 2 e intranet 3 b used by network administrators to a......
Q:
Do recent technological advances (e.g., the World Wide Web, electronic databases) assure that future scientific research will be of higher quality, or of greater utility, than past research?
A:
Recent technological advances including the World Wide Web and electronic databases have indeed transformed the landscape of scientific research While they offer many advantages such as improved acces......
Q:
The comparative balance sheet of Cromme Inc. for December 31, 2016 and 2015, is shown as follows: Additional data obtained from an examination of the accounts in the ledger for 2016 are as follows:...
A:
Preparation of statement of cash flows under indirect method C In......
Q:
Pate paid $ 50,000 and gave a plot of undeveloped land with a carrying amount of $ 320,000 and a fair value of $ 450,000 to Bizzell Co. in exchange for a plot of undeveloped land with a fair value of...
A:
Choice d is correct On this transaction because the exchange has comm......
Q:
Using the data from BE11- 9, compute the depreciation expense for the first two years and determine the net book value at the end of the second year ( assume Hermit Associates uses the units- of-...
A:
Rate of Depreciation per unit 250 000 50 000 100......
Q:
Remex (RMX) currently has no debt in its capital structure. The beta of its equity is 1.50. For each year into the indefinite future, Remexs free cash flow is expected to equal $25 million. Remex is...
A:
a Before Change From the SML r E 5 1 50 6 14 Since the fir......
Q:
You read a study involving a new screen for rheumatoid arthritis, and the report indicates that those with the disease had the antibody levels shown in Table 3.3. What antibody level was the mode?...
A:
Antibody level Frequency Cumulative Frequency 20 3 3 30 5 8......
Q:
Illustrate the execution of the Edmonds-Karp algorithm in the flow network of Figure 16.8a. Figure 16.8a 0/1 beta alpha 0/1 0/2 0/1 0/2 gamma delta sink 0/2 0/4 0/1 0/4 source 0/2 0/1 0/4 theta omega...
A:
To execute the Edmonds Karp algorithm in the flow network of Figure 16 8a we follow these steps Initialize the flow We start by initializing the flow......
Q:
Consider a planar irrotational region of flow in the r-plane. Show that stream function satisfies the Laplace equation in cylindrical coordinates.
A:
To show that the stream function satisfies the Laplace equation in cylindrical coordinates for a pla......
Q:
Reconsider Prob. 9107. Using EES (or other) software, plot the forced motion velocity above which natural convection heat transfer is negligible as a function of the plate temperature as the...
A:
To determine the forced motion velocity above which natural convection heat transfer is negligible w......
Q:
Repeat Prob. 5134 for the case of implicit formulation. Data from problem 134 Consider one-dimensional transient heat conduction in a plane wall with variable heat generation and variable thermal...
A:
In the case of implicit formulation for transient heat conduction with variable heat generation and......
Q:
Explain the kinds of fraud that could be expected in sales, cash receipts, and sales adjustment transactions in the absence of adequate internal control procedures. Consider the importance of the...
A:
The possibility of fraud will depend to a large extent on the inh......
Q:
The tetrahedron cut form the first octant by the plane 3/2x + 2y + z = 6. Check by vector methods.
A:
For z 0 we have 3x 4y 12 thus y 3x this is the upper limit of the y integration We then......
Q:
Evaluate the integral using the indicated trigonometric substitution. Sketch and label the associated right triangle. a. dx/(x2 4 - x2) ................... x = 2sin b. (x2 - 4)/x...
A:
a Let x 2 sin where 2 2 Then dx 2 cos d and 4 x 2 4 4sin 2 4cos 2 2 cos 2cos......
Q:
Sketch the region R bounded by y = 1/x3, x = 1, x = 3, and y = 0. Set up (but do not evaluate) integrals for each of the following (a) Area of R (b) Volume of the solid obtained when R is revolved...
A:
a......
Q:
Visit www.guidestar.org and obtain the Form 990 for a local not-for-profit organization. a. Examine Part VIII of the 990 to determine gross receipts of the organization. b. Examine Part IX of the...
A:
a In Part VIII of the Form 990 the gross receipts of the organization......
Q:
Aulman Inc. has a number of divisions, including a Furniture Division and a Motel Division. The Motel Division owns and operates a line of budget motels located along major highways. Each year, the...
A:
1 The maximum transfer price is set by the buying division in this case the Motel Division The mi......
Q:
The Harvard Co-op orders sweatshirts with the Harvard University emblem on them and sells them for $50 each. During a typical month, 900 sweatshirts are sold (this includes all styles and sizes...
A:
a EOQ 2 25 10 800 25 50 207 85 208 note demand 10 800 per year b Lot size of 10 80......
Q:
[(S L) M] (C N) Identify the main operator in the following propositions.
A:
Click to View...
Q:
A closed-end investment company is currently selling for $10 and its net asset value is $10.63. You decide to purchase 100 shares. During the year, the company distributes $0.75 in dividends. At end...
A:
The net asset value does not affect the return which de......
Q:
Please pick a side. Do you see the era of womens protective labor legislation as a positive or negative when it comes to advancing womens position in paid employment? Whichever position you took in...
A:
Position The Era of Women s Protective Labor Legislation as a Positive for Advancing Women s Position in Paid Employment 1 Persuasive Arguments Early......
Q:
(Liberatore and Miller, 1985) A manufacturing facility uses two production lines to produce three products over the next 6 months. Backlogged demand is not allowed. However, a product may be...
A:
I it end inventory of product I in period t I i0 initial inventory of prod......
Q:
a) Show that the sample covariance sy of a paired sample can be computed by 1 Sev 2n(n - 1) El jal b) Show for the sample coefficient of correlation ray of a paired sample: if a, beR, with a >0, and...
A:
Click to View...
Q:
A drug for treating high blood pressure is suspected to have the side effect of reducing the reaction time. In order to study this side effect in a clinical trial the reaction times of ten patients...
A:
Click to View...
Q:
Does doubling the drop height also double the elapsed time until the ball hits the floor? Explain why or why not.
A:
Doubling the drop height does not double the elapsed time until the ball h......
Q:
Mr. has contributed $161.00 at the end of each 6 months into an RRSP paying 6% per annum compounded quarterly. Question content area bottom Part 1 How much will Mr. have in the RRSP after 18 years?...
A:
Part 1 To calculate the amount Mr will have in the RRSP after 18 years we can use the formula for th......
Q:
You have a new student in your classroom named Isabella. Her parents are Marcus and Maria. The family has recently moved to the area and are first-generation immigrants from Mexico. Marcus is...
A:
In order to communicate effectively with Isabella s family you need to follow a few strategies with......
Q:
You are being asked to provide a written and oral report to persuade me and your classmates to adopt your opinion on a controversial topic: Vegan lifestyle or not? A. A vegan diet is the healthiest...
A:
MEMO To Classmates From Your Name Date Date Subject Controversial Topic Vegan Lifestyle vs Non Vegan Lifestyle Opening Paragraph The purpose of this memo is to present a comprehensive overview of the......
Q:
Singapore firm bought imported turbine from United States. The payment will be made for next three months. The amount of imports was $ 750,000. The chief financial officer of that company bought the...
A:
Given Situation A Singapore firm has imported a turbine from the United States for 750 000 The payme......
Q:
Write a function that checks if a word is in a list. If the word is in the list, then return the position of the word in the list. If the word is not in the list then print an error message.
A:
1 check it a word is in a list of Not def find word posi......
Q:
An all-equity firmi is considering the following projects: Project W X Y Z Beta 0.75 0.90 1.20 1.50 IRR 10% 10.2 12.0 15.0 The T-bill rate is 5 percent, and the expected return on the market is 11...
A:
a To determine which projects have a higher expected return than the firm s 11 percent cost of capit......
Q:
Suppose you need to answer any four of seven essay questions on a history test and you can answer them in any order. a. How many different question combinations are possible? b. What is the...
A:
a 7 C 4 35 b 20 35 571 Th......
Toad For Oracle Unleashed 1st Edition - ISBN: 0134131851 - Free Book