college econ

posted by .

You own four firms that produce different products. The following table summarizes the conditions in each firm. After calculating the missing numbers for each firm, make one of the following four decisions regarding operations in each firm, and explain why a particular decision is reached.
(a) continue producing the same output level
(b) shut down
(c) increase output
(d) decrease output
*hint*- if MR>MC increase; if MR<MC decrease, if MR=MC no change; if AVC>P shut down
FIRM P MR TR Q TC MC ATC AVC
A 11 8 ? 20 200 5 ? 9
B 3 1 ? 100 ? 1.5 2.5 2
C 4 2 200 ? ? 2 7 5
D 8 5 ? 10 70 5 ? 6

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Economics

    You own four firms that produce different products. The following table summarizes the conditions in each firm. After calculating the missing numbers for each firm, make one of the following four decisions regarding operations in each …
  2. CORRECTED ECONOMICS ?

    You own four firms that produce different products. The following table summarizes the conditions in each firm. After calculating the missing numbers for each firm, make one of the following four decisions regarding operations in each …
  3. Microeconomics

    What keeps oligopolies from becoming a monopoly?
  4. Microeconomics - Oligopoly

    Two firms decide to form a cartel and collude in a way that maximizes industry profits. Each firm has zero production costs and each firm is given a positive output quota by the cartel. Which of the following statement(s) are NOT true. …
  5. microeconomics

    Consider two firms X and Y produce identically tasting cold drinks. In order to increase the demand for its cold drink, firm X increases its advertisement outlay. However the advertising doesn’t increase its demand in the long run. …
  6. accounting

    Write a 3-4 page paper that summarizes your findings from the four (4) scenarios as well as how using Microsoft Excel helped you with this process, using the following outline: 2. Summarize the various accounting systems that each …
  7. econ

    P=15-Q/1000. Suppose there are two firms in this market. Compute equilibrium quantities and profits for each firm, and the equilibrium market price. Hint: Start with thinking about the number of loaves a firm will sell in a month — …
  8. Economics

    Which of the following firms caould raise prices and expect an increase in revenues?
  9. Economics

    Two firms produce the same good and compete against each other in a Cournot market. The market demand for their product is P = 204 - 4Q, and each firm has a constant marginal cost of $12 per unit. MR1 = 204 - 8q1 - 4q2. Let q1 be the …
  10. Economy

    Use the following information to answer the question. There are three firms in an economy: X,Y,Z. Firm X buys $200 worth of goods from firm Y, and $300 worth of goods from firm Z, and produces 250 units of output at $4 per unit. Firm …

More Similar Questions