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Farmer parker’s fixed costs are $
Suppose that fixed cost increase by ……
Farmer parker’s new profit-maximizing level of production after
the increase in fixed cost is ….
The amount of profit that farmer parker will earn after increase
in fixed cost is …..?
22.
Sophia grows Christmas tree. Her cost of production is
shown in the table below
Suppose the market for Christmas tree is perfectly competitive
and that market price for Christmas tree is $152 per tree
How many Christmas tree should Sophia grow?
What is Sophia’s profit?
23.
Frances sells earnings in the perfectly competitive earning
market. Her output per day and costs are seen in the table to the
right.
a. Of the current equilibrium price in the earing market is $1.80, what
price will Frances charge?
b. Find the correct quantities for the missing values in the table
c. What quantity of earings will maximize France’s Profit?
24.
The fig to be illustrates the average total cost (ATC) and
marginal cost (MC) curves for an orange farmer in California.
Assume market for oranges is perfectly competitive
Suppose the market price of orange is $28.00 per crate
25.
Which of the following is an expression of profit for a
perfectly competitive firm?