dbanks701

02.12.2019 • 

Business

Assume the following cost data for a purely competitive producer:
a. at a product price of $56: will this firm produce in the short run? if it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? what economic profit or loss will the firm realize per unit of output?
b. at a product price of $41: will this firm produce in the short run? if it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? what economic profit or loss will the firm realize per unit of output?
c. at a product price of $32: will this firm produce in the short run? if it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? what economic profit or loss will the firm realize per unit of output?
d. in the table below, complete the short-run supply schedule for the firm and indicate the profit or loss incurred at each output.
e. now assume that there are 1500 identical firms in this competitive industry; that is, there are 1500 firms, each of which has the cost data shown in the table. complete the industry supply schedule (column 4 in table above).
f. suppose the market demand data for the product is as follows:
what will be the equilibrium price?
what will be the equilibrium output for the industry? for each firm?
what will profit or loss be per unit? per firm?
will this industry expand or contract in the long run?

Ответ:

chaseashley24

02.05.2021

Business

---

I would just like to point out that this is not my personal answer. This same question was asked on a different page. I do not take credit for this

Both personal and government budgeting involve an ongoing process of balancing multiple needs and wants. Both have two types of spending to consider: a personal budget’s fixed expenses correspond to the government’s mandatory spending; the flexible spending in a personal budget corresponds to the government’s discretionary spending. In both types of budgets, overspending can mean taking on debt. An important way that personal budget and government budgets differ is that personal budgets are meant to meet the needs of those in a particular individual or household and rarely involve the income of others. In the case of government budgets, Congress is making decisions about millions of taxpayers’ money and must work to make a budget that takes care of both individual citizens and the national interest.

---

0,0(0 оценок)