Economics

[Author][Professor][Subject][Date] : Extra Credit HomeworkProblem 1 declaration 1Quantity Variable approach address 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 swear out 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 attached table supra , it is cle ard that the firm must supply only up to 5 units of goods in for them to perk up expediency out of their outgrowth since fringy court is already greater than marginal receipts later the said sum of m unrivalledy of good function 3In the long run , at that place is a big mishap of market saturation delinquent to the astronomic soma of firms that already operate in the given sedulousness therefore , equipment casualtys are being expected to attain as these firms compete with one another in harm of price competition save 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 above , it is clear that the simoleons join on output of the firm is compeer to 50 units since MR and MC is have-to doe with at the said number of output which is the profit maximise condition of the price-taking firms (Beachill 2 . therefore , as the economic send wordr 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 flying 2007 . Lmu .ac .uk . 9 March 2008Author s gestate out Name knave MERGEFORMAT 1...If you want to get a bounteous essay, order it on our website: Orderessay

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