Business, 05.07.2020 14:01 sidallen05

Suppose that each firm in a competitive industry has the following costs:Total Cost: TC=50+12q2TC=50+12q2Marginal Cost: MC=qMC=qwhere q is an individual firm's quantity produced. The market demand curve for this product is:Demand QD=140?2PQD=140?2Pwhere P is the price and Q is the total quantity of the good. Each firm's fixed cost is $ ??? .What is each firm's variable cost?50+1/2q1/2q2q1/2qWhich of the following represents the equation for each firm's average total cost???50 + 1/2q50/q50q + 1/2q1/2qComplete the following table by computing the marginal cost and average total cost for qq from 5 to 15.q (UNITS) MARGINAL COST (DOLLARS) AVERAGE TOTAL COST(DOLLARS)5 ??? 15/10/12.50/2.506 ??? 8.33/11.33/10/37 ??? 10.64/7.14/10/3.508 ??? 6.25/10.25/4/109 ??? 5.56/10.06/4.50/1110 ??? 4/10/5/911 ??? 4.55/10.05/5.50/9.5512 ??? 11.26/4.17/10.17/613 ??? 6.50/10.35/3.85/11.3314 ??? 10.57/3.57/11.33/715 ??? 7.50/10.83/3.33/12.50The average total cost is at its minimum when the quantity each firm produces (q) equals ???.Which of the following represents the equation for each firm's supply curve in the short run? 1/2q250-q120-1/2q2qIn the long run, the firm will remain in the market and produce if q <15/ q >10/ 55 .Currently, there are 8 firms in the market. In the short run, in which the number of firms is fixed, the equilibrium price is $??? and the total quantity produced in the market is ???units. Each firm produces ???units. (Hint: Total supply in the market equals the number of firms times the quantity supplied by each firm.)In this equilibrium, each firm makes a profit of $???. (Note: Enter a negative number if the firm is incurring a loss.)Firms have an incentive to ENTER OR EXIT the market. In the long run, with free entry and exit, the equilibrium price is $??? and the total quantity produced in the market is ??? units. There are ???firms in the market, with each firm producing ??? units.

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Answer from: Quest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

Answer from: Quest

My first question is what benefits do you expect to achieve from career exploration? the benefits that i expect to achieve from career exploration. for me i think the benefits of exploring many different careers are that you get exposed to more, so it's easier for you to pick which one you like best. another benefit is that you get a more first hand view of what jobs are more likely to be needed in the future and that can be factored into your consideration. my second question is what do you expect to be the most challenging parts of your career planning process? why? the most challenging parts of my career planning process is trying to get things in order and trying to write this paragraph it is confusing and, hard work. and last but not least my third question is i think the most challenging part is taking the first step and really deciding on a career you want to pursue; there are so many options and it can be hard to choose.which jobs will allow me to make a living? ; what skills does emergency medical technician emergency medical services medical » physiology require?

Answer from: Quest

the answerr would be 1

Answer from: Quest

Areceive reimbursement for your college visit costs b schedule a tour of the college campus c attend a college class to see what it’s like d both b & c e all of the above

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Suppose that each firm in a competitive industry has the following costs:Total Cost: TC=50+12q2TC=50...