Question options: 8,000 units 10,000 units 12,000 units 16,000 units 0 units, th
ID: 1222564 • Letter: Q
Question
Question options:
8,000 units
10,000 units
12,000 units
16,000 units
0 units, the firm shuts down
Question options:
Total revenue will increase $13.50.
Total revenue will increase $11.00.
Total revenue will increase $9.00.
Total revenue will increase $6.00.
none of the above.
Question 8A firm with market power faces the following estimated demand and average variable cost functions:
where Qd is quantity demanded, P is price, M is income, and PR is the price of a related good. The firm expects income to be $40,000 and PR to be $2. Total fixed cost is $100,000.
What is the profit-maximizing choice of output?
Question options:
8,000 units
10,000 units
12,000 units
16,000 units
0 units, the firm shuts down
Question 10Refer to the following figure:
The above graph shows the demand and cost conditions facing a price-setting firm.
When output is 50 units, what will happen to total revenue if the firm sells another unit of output?
Question options:
Total revenue will increase $13.50.
Total revenue will increase $11.00.
Total revenue will increase $9.00.
Total revenue will increase $6.00.
none of the above.
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