Question

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

Answer #1

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10. Suppose a perfectly competitive firm has the following total
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B) 250.
C) 260.
D) -10 because the firm will shut down.

A perfectly competitive firm has the following total cost and
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MC =
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a) For quantities
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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
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b. Firms will exit the industry.
c. Firms will neither enter nor exit the
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d. The firm will shut down.
e. None of the above.
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Suppose that each firm in a perfectly competitive market has a
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consider a firm operating a perfectly competitive industry and
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MR = 15 + 5q
P>15
AR > 350/q + 15 + 5q
Both A and B are true.
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All of the above...

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