Economics

[Author][Professor][Subject][Date] : Extra Credit HomeworkProblem 1 declaration 1Quantity Variable exist come to borderline monetary value1 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 Answer 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 minded(p) table above , it is cleared that the firm must supply only up to 5 units of goods in for them to make expediency out of their surgical procedure since fringy cost is already greater than marginal taxation later the said quantity of goodAnswer 3In the long run , at that place is a big possibility of market saturation receivable to the astronomic number of firms that already operate in the given sedulousness therefore , equipment casualtys are being expected to make i t as these firms compete with one another in toll of price competition just 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 Marginal cost (per special scarf )n .a 49 2 3 5 9 13 Marginal revenue n .a 9 9 9 9 9 9 Answer 2Based from the given table above , it is clear that the cyberspace increase output of the firm is mates to 50 units since MR and MC is equal at the said number of output which is the usefulness maximise condition of the price-taking firms (Beachill 2 . Therefore , as the sparing advisor of the firm , I would advise them to produce products equal to 50 units in the market in to receive the uttermost profit out of their operationWorks CitedBeachill , Bob . The Price-Taking Firm 2007 . Lmu .ac .uk . 9 border 2008Author s hold out Name PAGE \ MERGEFORMAT 1...If you want to make grow a bounteous essay, order it on our website: BestEssayCheap.com

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