Firm profit maximizing output-competitive market, Macroeconomics

+44 141 628 6080
[email protected]

Firm profit maximizing output-competitive market

Suppose a firm is operating under a competitive market conditions and the going price for its product is $260. If the firm's short run Total Variable Cost (TVC) function is

TVC = 80Q - 6Q2 + 0.2Q3
Total fixed is cost = $1000

What is the firm's profit maximizing output? How much profit will the firm make?

Request for Solution File

Ask an Expert for Answer!!

Macroeconomics: Firm profit maximizing output-competitive market

Reference No:- TGS069658

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Macroeconomics

Q : Masset break-even point in units

In 2008, Masset sold 3,000 units at $500 each. Variable expenses were $350 per unit, and fixed expenses were $200,000. The same selling price, variable expenses, and fixed expenses are expected for 2009. What is Masset's break-even point in units

Q : Implications for economic analysis

For what types of decisions do you use the Economic Decision Rule? Which types of decisions do you not use the Economic Decision Rule? What are the implications for economic analysis if most people don't follow the economic decision rule in many a

Q : Inventory of units on hand at the end of month

A company budgeted unit sales of 102,000 units for January, 2008 and 120,000 units for February, 2008. The company has a policy of having an inventory of units on hand at the end of each month equal to 30% of next month's budgeted unit sales.

Q : Budgeted sales revenue for the third quarter

Ceatric's policy is to maintain an ending inventory equal to 25% of the next quarter's sales. Each surfboard costs $100 and is sold for $150. How much is budgeted sales revenue for the third quarter of 2008?

Q : Firm profit maximizing output-competitive market

Suppose a firm is operating under a competitive market conditions and the going price for its product is $260. If the firm's short run Total Variable Cost (TVC) function is

Q : Maximum profit that firm can generate at output level

How much should the firm produce in order to maximize profit? What is the maximum profit that the firm can generate at the output level(your answer in a)?

Q : Prepare a schedule to show the balance

Prepare a schedule to show the balance Jenkins should report as its Investment in Bolivar Co. at December 31, 2011.

Q : Company balance sheet at the end of the month

Explain to Joe why some of his salary could end up on the company's balance sheet at the end of the month.

Q : Marginal revenue function for the firm

A monopoly produces widgets at a marginal cost of $10 per unit and zero fixed costs. It faces an inverse demand function given by P = 50 - Q. Which of the following is the marginal revenue function for the firm?

1960984

Questions
Asked

3,689

Active Tutors

1455536

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Macroeconomics: Firm profit maximizing output-competitive market

Reference No:- TGS069658

Have a Question? (oR Write a Review)

Recent Questions Asked Macroeconomics

Q : Masset break-even point in units

Q : Implications for economic analysis

Q : Inventory of units on hand at the end of month

Q : Budgeted sales revenue for the third quarter

Q : Firm profit maximizing output-competitive market

Q : Maximum profit that firm can generate at output level

Q : Prepare a schedule to show the balance

Q : Company balance sheet at the end of the month

Q : Marginal revenue function for the firm

What factors contributed to the division of israel

How would you define altruism

How everyones life is deemed valuable to god

Can religion offer a good answer to the question

What are your thoughts on the health message

How does the image of women in the afterlife change

Construct a response to a new religious movement

Request for Solution File

Ask an Expert for Answer!!

Macroeconomics: Firm profit maximizing output-competitive market

Reference No:- TGS069658

Recent Questions Asked Macroeconomics

Q : Masset break-even point in units

Q : Implications for economic analysis

Q : Inventory of units on hand at the end of month

Q : Budgeted sales revenue for the third quarter

Q : Firm profit maximizing output-competitive market

Q : Maximum profit that firm can generate at output level

Q : Prepare a schedule to show the balance

Q : Company balance sheet at the end of the month

Q : Marginal revenue function for the firm

Asked Questions