Wednesday
October 1, 2014

Homework Help: Economics

Posted by Mary on Sunday, January 27, 2013 at 5:14pm.

a firm in a purely competitive industry is currently producing a 1000 unir per day at a total cost of $450. if the firm produced 800 units per day, it total cost will be $300, and it it produced 500 units per day, it total cost will be $275. Requirements: (1) what are the firm's ATC per unit at these three levels of production? (2) if every firm in this industry has the same cost structure, is the industry in long-run competitive equilibrium? (3) from what you know about these firms's cost structure, what is the highest possible price per unit that could be exist as the market price in the long run equilibrium? (4) if that price ends up being the market price and if the normal rate of profit is 10 percent , the how big will each firm's accounting profit per unit be?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Economics - The firm currently uses 70,000 workers to produce 300,000 units of ...
Economics/Math - In a perfectly competitive industry, the market price is $25. A...
Math - The firm currently uses 70,000 workers to produce 300,000 units of output...
Economics - You’ve been hired by an unprofitable firm to determine whether it ...
mirco-economics - The firm currently uses 50,000 workers to produce 200,000 ...
economics - perfectly competitive industry. Each firm having identical cost ...
managerial economics - The MorTex Company assembles garments entirely by hand ...
Economics - The firm currently uses 50,000 workers to produce 200,000 units of ...
To: Economyst - Hi there. You helped me with a couple of questions regarding ...
economics - A profit-maximizing firm in a competitive market is currently ...

Search
Members