Question

Suppose a firm in competitive market has the following total cost of production: TC=〖2q〗^2+100. If the...

Suppose a firm in competitive market has the following total cost of production:

TC=〖2q〗^2+100. If the price P=100, the maximum profit will be:

A)1050

B) 1150

C)1250

D) 1350

E) None of above

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Please give ratings it will be appreciable thank you

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
10. Suppose a perfectly competitive firm has the following total cost function: TC = 10 +...
10. Suppose a perfectly competitive firm has the following total cost function: TC = 10 + (0.1 ∗ q^2). The market demand is given by Q = 100 – 10p. If p = 10, the firm's profits will be A) 240. B) 250. C) 260. D) -10 because the firm will shut down.
A perfectly competitive firm has the following total cost and marginal cost functions:      TC =...
A perfectly competitive firm has the following total cost and marginal cost functions:      TC = 100 + 10q – q2 + (1/3)q3      MC = q2 – 2q +10      a)    For quantities from 0 to 10 determine: TC, TFC, TVC, and MC. b)    For quantities from 0 to 10 determine: ATC, AFC, and AVC. c)    Assume P (MR) equals 45. For quantities from 0 to 10 determine: TR and profit. d)    At what quantity is profit maximized?...
A perfectly competitive firm’s total cost is TC = 25 + 0.5Q2. The firm can sell...
A perfectly competitive firm’s total cost is TC = 25 + 0.5Q2. The firm can sell as much as it wants at a market determined price of $50. What will happen if there are no barriers to entry? a. Firms will enter the industry. b. Firms will exit the industry. c. Firms will neither enter nor exit the industry. d. The firm will shut down. e. None of the above. Which of the following is true for a monopoly? a....
Suppose that each firm in a competitive industry has the following cost curves: Total cost: TC...
Suppose that each firm in a competitive industry has the following cost curves: Total cost: TC = 32 + 1⁄2 Q2; where Q is the individual firm’s quantity produced. MC=Q. Assume the market price is $14 per unit. If the market price falls, how much will each firm produce in the long run? a. 32 b. 8 c. 11 d. 64
A firm in a perfectly competitive constant cost industry has total costs in the short run...
A firm in a perfectly competitive constant cost industry has total costs in the short run given by: TC = 2q2 + 2q + 72 q ≥ 2 where q is output per day and TC is the total cost per day in dollars. The firm has fixed costs of $54 (already included in the TC equation above). The TC equation generates minimum average costs of $26 (per unit) at q = 6. You are also told that this size...
Suppose that each firm in a perfectly competitive market has a short-run total cost of TC...
Suppose that each firm in a perfectly competitive market has a short-run total cost of TC = 99 + 100Q – 6Q2 + 4Q3 . What is the firm's shutdown price?
Suppose that your total cost of production is TC = 400 + 2Q + .5Q2. You...
Suppose that your total cost of production is TC = 400 + 2Q + .5Q2. You can sell all the output you like at a price of 30 per unit. a) What is your average total cost? b) At the current price, what is your optimal level of output? c) What is your profit at this optimal production level?
consider a firm operating a perfectly competitive industry and suppose that this firm's total cost function...
consider a firm operating a perfectly competitive industry and suppose that this firm's total cost function is: TC=10+2q+5q^2. if p=12, which of the following statements is correct: a) The firm is making profits b) total revenue of this firm is 2 c) total cost of this firm is 17 d) none of the other answers
The total cost function for a firm in a perfectly competitive market is TC = 350...
The total cost function for a firm in a perfectly competitive market is TC = 350 + 15q + 5q2. At its profit maximizing quantity in the short-run, each firm is making a loss but chooses to stay open. Which of the following is/are necessarily true at the profit maximizing quantity? MR = 15 + 5q P>15 AR > 350/q + 15 + 5q Both A and B are true. Both B and C are true. All of the above...
Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost...
Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost of production is given by C = 100 + q2, where q is the level of output and C is total cost. (The marginal cost of production is 2q; the fixed cost is $100.) a. If the price of watches is $70, how many watches should you produce to maximize profit? b. What will the profit level be? c. At what minimum price will...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT