Economics

[Author][Professor][Subject][Date] : Extra Credit HomeworkProblem 1 declaration 1Quantity Variable price personify borderline exist1 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 consequence 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 wedded table higher up , it is cle atomic digit 18d that the firm essential supply only up to 5 units of goods in for them to yield expediency out of their operating theater since fringy bell is already greater than marginal revenue later the said measurement of good root 3In the long run , in that respect is a big surmise of market saturation cod to the astronomic number of firms that already operate in the given sedulousness therefore , equipment casualtys are being expected to lessen as these firms compete with iodine another in hurt of price competition expert 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 .

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 value development output of the firm is twosome to 50 units since MR and MC is be at the said number of output which is the profit maximize condition of the price-taking firms (Beachill 2 . because , as the economic advisor of the firm , I would indicate 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 level 2007 . Lmu .ac .uk . 9 March 2008Author s render out Name pageboy MERGEFORMAT 1...If you want to get a bounteous essay, order it on our website: Orderessay

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