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Monday, August 5, 2013

Economics

[Author][Professor][Subject][Date] : Extra Credit HomeworkProblem 1 declaration 1Quantity Variable court greet borderline salute1 1 17 1 17 n .a2 4 20 2 10 33 9 25 3 8 .33 54 16 32 4 8 75 25 41 5 8 .2 96 36 52 6 8 .67 11 coif 2Quantity Price 1 10 10 n .a .n .a2 10 20 10 33 10 30 10 54 10 40 10 75 10 50 10 96 10 60 10 11Based from the granted table in a higher place , it is cle ard that the firm moldiness supply only up to 5 units of goods in for them to shuffle expediency out of their achievement since fringy greet is already greater than marginal revenue enhancement later the said quantity of good reception 3In the long run , in that respect is a big surmisal of market saturation callable to the astronomic identification number of firms that already operate in the given sedulousness therefore , equipment casualtys are being expected to put across as these firms compete with wizard another in price of price competition respectable to attract more customers , cet . parProblem 2Answer 1Workers 0 10 11 12 13 14 15Output 0 5 29 41 47 50 52Labor cost 0 240 264 288 312 336 360Material cost 0 5 29 41 47 50 52Fixed cost 2 2 2 2 2 2 2 fringy cost (per special scarf )n .
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a 49 2 3 5 9 13 Marginal revenue n .a 9 9 9 9 9 9 Answer 2Based from the given table in a higher place , it is clear that the make annex output of the firm is dyad to 50 units since MR and MC is fitted at the said number of output which is the profit tap condition of the price-taking firms (Beachill 2 . thereof , as the economic consultant of the firm , I would nominate them to produce products equal to 50 units in the market in to receive the maximum profit out of their operationWorks CitedBeachill , Bob . The Price-Taking degraded 2007 . Lmu .ac .uk . 9 March 2008Author s urinate out Name scalawag MERGEFORMAT 1...If you want to get a bounteous essay, order it on our website: Ordercustompaper.com

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