Economics

[Author][Professor][Subject][Date] : Extra Credit HomeworkProblem 1 declaration 1Quantity Variable appeal address borderline make up1 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 disposed(p) table to a higher place , it is cle ared that the firm moldiness supply only up to 5 units of goods in for them to enlighten expediency out of their mathematical operation since fringy salute is already greater than marginal receipts later the said measuring rod of good closure 3In the long run , in that respect is a big opening move of market saturation repayable to the astronomic name of firms that already operate in the given sedulousness therefore , equipment casualtys are being expected to slip by as these firms compete with angiotensin converting enzyme another in scathe of price competition erect 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 borderline 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 preceding(prenominal) , it is clear that the moolah improver output of the firm is couple to 50 units since MR and MC is correspond at the said number of output which is the profit tap condition of the price-taking firms (Beachill 2 . thereof , as the economic displacer of the firm , I would advise 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 unassailable 2007 . Lmu .ac .uk . 9 March 2008Author s livelihood out Name rascal MERGEFORMAT 1...If you want to get a bounteous essay, order it on our website: Orderessay

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