Price taker and a quantity adjuster

When the world price for this year’s wheat crop is $10 per bushel, and Del, a profit maximizer one who owns the biggest wheat farm within North Dakota: (i) is a quantity taker and a price adjuster. (ii) cannot generate an economic profit into the short run. (iii) is a price taker and a quantity adjuster. (iv) produces at point c, here average total cost is minimized. (v) realizes $4 per bushel into excess profits.

1006_Price Taking and the Price Elasticity.png

Hello guys I want your advice. Please recommend some views for above Economics problems.

View Complete Question

Related Questions in Microeconomics

Q : Problem regarding to Subsidy Wedges The

The demand for an undergraduate college education would rise from the perspective of college administrators when: (w) the federal government started paying half of the interest charged upon student loans. (x) grade inflation was reversed and the average grade earned b

Q : Monopsonistic exploitation- contracts

The labor union contracts, a comparable worth rule, or minimum salary laws might boost up equilibrium employment when a firm has been practicing: (v) Price discrimination. (w) Monopolistic exploitation. (x) Feather-bedding. (y) Blacklisting. (z) Monopsonistic exploita

Q : Meaning of price taker To be a price

To be a price taker implies: (w) the larger firm in the industry will set the price for all other firms. (x) the entire market (industry) sets the price for all firms to take. (y) each firm takes the price as specified by the government. (z) firms tak

Q : Buying something when expect a price to

Buying since you expect a price to increase, at that point you will sell, which is termed as: (w) arbitration. (x) speculation. (y) profiteering. (z) arbitrage. Hey friends please give your opinion for the problem

Q : Power monopsonist I have a problem in

I have a problem in economics on Power of monopsonist. Please help me in the given question. The firm which is the sole buyer of a specific good or resource is a: (m) Monopsonist. (n) Plutocracy. (o) Bilateral monopolist. (p) Price discriminator. (q) Conglomerate.

Q : Stable negatively-sloped demand curve

Assume that a monopolist face a stable negatively-sloped demand curve. Making more sales needs the monopolist to: (1) advertise its product. (2) decrease the price of the product. (3) lower its marginal revenue. (4) improve its technology. (5) increas

Q : Consumer goods-Durable and nondurable I

I have a problem in economics on Consumer goods-Durable and nondurable. Please help me in the following question. Consumer goods comprise durable and nondurable goods, and: (i) Capital equipment. (ii) House-hold goods. (iii) Services. (iv) Electronic goods.

Q : Problem on competitive equilibrium

The economy consists of an equal number of smokers (S-types) and asthma sufferers (A-types). Good 1 is cigarettes, good 2 is “other stuff.” S-types have the utility function: xS1 + xS

Q : Profit Maximization-total revenue and

All profit-maximizing firms will hire much labor up to the point where: (i) Average physical product of the labor equals nominal wage. (ii) Last unit of the labor adds equally to net revenue and net cost. (iii) Marginal product of the labor is at its maximum value. (i

Q : Maximum possible total revenue by sales

Maximum possible total revenue by sales of the especially popular St. Valentine’s Day software is about: (i) $140 million. (ii) $250 million. (iii) $350 million. (iv) $420 million. (v) $1 billion.

Discover Q & A

Leading Solution Library

Avail More Than 1458161 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1923632
Asked

3,689

Active Tutors

1458161

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment