The firm has the following marginal cost function: MC ( y ) = 3 +. 25...

The firm has the following marginal cost function: MC ( y ) = 3 +. 25 y what is the change in producer surplus when the price of y changes from $ 20 to $ 50. (Recall, the change in producer surplus is equal to the new producer surplus minus the old producer surplus).

Expert Solution

Rahul Sunny answered 2 years ago

The firm has the following marginal cost function: MC(y) = 3 + .25y what is the...

The firm has the following marginal cost function: MC(y) = 3 + .25y what is the change in producer surplus when the price of y changes from $ 20 to $ 50?

A firm has the following marginal cost function: MC(y) = 2y and fixed costs equal to...

A firm has the following marginal cost function: MC(y) = 2y and fixed costs equal to $ 16. If the price of y changes from $ 8 to $ 15 what is the change in the firm's profits?

7 A firm has total cost of TC(y)=y²+1 and marginal cost of MC(y)=2y. What is the...

7 A firm has total cost of TC(y)=y²+1 and marginal cost of MC(y)=2y. What is the firm's producer's surplus at price $8? Group of answer choices 16 neither one is correct 10 17 15 8 Suppose there are 10 firms in an industry. Each firm has total cost of TC(y)=y²+1 and marginal cost of MC(y)=2y. What is the industry supply at $6? Group of answer choices 3 neither one is correct 30 12 36

3. Suppose firm F has the following marginal cost: MC = 2 + 6Q a. Suppose...

3. Suppose firm F has the following marginal cost: MC = 2 + 6Q a. Suppose it is a Competitive Market and the equilibrium price p* = 26. How many units would F produce? b. Now suppose it is a Monopolist market and the marginal revenue is given by MR = 102 - 4Q? c. Theoretically, would you suppose the monopolist case would yield a higher price or lower than the competitive market?

A competitive firm has a marginal cost equal to: MC(y)=3y, where y is the output level....

A competitive firm has a marginal cost equal to: MC(y)=3y, where y is the output level. The intersection of the average cost and the marginal cost happens at output level equal to 4. How much will the firm produce in the long-run at price equal to $9?

Suppose that a price-taker firm has a marginal cost function given by: MC= 20+0.2q. The firm...

Suppose that a price-taker firm has a marginal cost function given by: MC= 20+0.2q. The firm could join a cartel in its industry and agree to a quota of 10 units. The collusion drives the price of the good from $24.55 to $50.00. Suppose that if the firm cheats on the cartel, it has no effect on the price. Calculate the producer surplus of this firm when they cheat on the cartel.

What is the profit maximizing level of output for a firm with the marginal cost function MC

What is the profit maximizing level of output for a firm with the marginal cost function MC = 1.6Q2-15Q+60 and a marginal revenue function MR = 280-20Q?

Consider a firm with the following total cost function: TC = 50 + 6Q + 4Q2 . The marginal cost associated with the given cost function is MC = 6 + 8Q.

Consider a firm with the following total cost function: TC = 50 + 6Q + 4Q2 . The marginal cost associated with the given cost function is MC = 6 + 8Q. Assume the firm is operating in the short-run.A) What are the firm’s fixed costs? What are the firm’s variable costs?B) Calculate average fixed costs, average variable costs, and average total costs.C) Suppose the firm is in a competitive market and is a price taker. Suppose the equilibrium price...

A certain agricultural firm has the immense demand function p=30-q and marginal cost of MC=Q. suppose...

A certain agricultural firm has the immense demand function p=30-q and marginal cost of MC=Q. suppose the government introduces a tax =3.5Q The efficient level of production The equilibrium after tax The tax burden The excess tax burden Where individuals are left to act on the their own, efficient solution to externalities may not be attained. Explain six ways in which the problem of externalities can be addressed

3. A firm in a perfectly competitive market has the following cost function: c(y) = 4y2...

3. A firm in a perfectly competitive market has the following cost function: c(y) = 4y2 + 450. a. If the market price of their product is $200, how many units should they produce, and what will their profits be? Should they shut down or exit the market? (2 points) b. If the market price falls to $50, how many units should they produce, and what will their profits be? Should they shut down or exit the market? (3 points)...

Question