In perfect competition, a firm maximizes its economic profit when producing an output which ___. Explain how the profit-maximizing price and quantity of resources in factor markets under perfect competition are determined by marginal analysis. Does a ...
a.Draw a diagram describing a monopoly firm, including a downward-sloping demand curve and a cost curve. (For simplicity, assume that marginal cost is constant, so the cost curve is a horizontal line.) Show the profit-maximizing price and quantity. Show the areas that represent profit and ...
At the profit-maximizing quantity, what is the value of Profit? a. $108 b. $162 c. $180 d. 0 What is the relationship between marginal revenue and marginal cost for any firm that is profit-maximizing? Explain. Marginal revenue...
If a firm in a monopolistic market faces the below demand and cost curves, calculate the following. A. What are the profit-maximizing price and quantity the monopolist will choose? B. What will the monopolist's profit be at its profit-maximizing price and ...
At the profit maximizing price and quantity, what is the level of total profit? Question2 Now say there are two firms, demand rises toP=110-2Q.andTC=20+20Qfor both firms. What is the Cournot outcome?(q1,q2,Q,P and variable...
题目 A firm can determine its profit-maximizing quantity of output by producing up to the quantity at which: A. total revenue equals total cost. B. marginal revenue equals marginal cost. C. average revenue equals average total cost. 相关知识点: 试题来源: 解析 B 略 反馈 收藏 ...
The quantity of labor that a profit maximizing firm will employ, holding other input factors constant, is the level at which: A)one more unit of labor would cost less than the value of its additional output. B)the marginal revenue product of labor is equal to the wage rate. C)the margi...
结果1 题目 A firm can determine its profit-maximizing quantity of output by producing up to the quantity at which: A:A:total revenue equals total cost B:B:marginal revenue equals marginal cost C:C:average revenue equals average total cost 相关知识点: 试题来源: 解析 B 反馈 收藏 ...
For any productive input, including labor, a profit maximizing firm will employ additional units of the input until its marginal revenue product is equal to its price (the wage rate is the price of labor). If one more unit of labor would cost less than the value of its additional output,...
4.If the price of a competitive firm’s output increased, marginal revenueand the profit-maximizing level of output would both increase.() 5.Payroll taxes cause wages received by workers tofall and wages paid by firms to rise.() 6.The relative price of two goods equalsthe marginal rate of...