Skip to main content

Equilibrium point: price and quantity of equilibrium

 Microeconomics Task brief & rubrics

· Individual task.

· Format:

Document with answers: PDF

Formalities:

· Answers must be typed out. Images of handwritten documents will not be accepted.

· Font: Arial 12,5 pts.

· Text alignment: Justified.Submission:

· Due 10:30

· Weight:This task is a 30% of your total grade for this subject.

Description and information of the task:

You have to answer the questions of the exam. All the information is contained in the text;thus,you do not need to make any hypothesis.

1) In ourmarket we have made the following observations:

Price

Q demand

Q supply

85

3,045

2,662.20

80

3,360

2,537.20

Calculate:

a) Equilibrium point: price and quantity of equilibrium

b) Price Elasticity of the Demand and Price Elasticity of the Supplyin the given interval. Use the midpoint method.

c) Consumer Surplus

2) Complete the following table with the right figures.

Q

Variable cost

Fix cost

Total cost

Average Variable cost

Average fix cost

Average total cost

Marginal cost

0

0

--

--

--

1

15

2

48

37.5

3

9

51

4

168

42

48.75

5

87

6

360

60

3) Our company has a fix cost of 20,and we are in a perfectly competitive market where we have observed the following points of the demand:

Price

Quantity

30

8750

60

5000

a) The actual market price is 32,

a. How many units are going to be sold in the market?

b. Complete the following table:

Q

Marginal cost

Total cost

Average total cost

Total revenue

Total profit

0

1

8

2

16

3

24

4

32

5

40

6

48

7

56

c. Considering that all the producers in this market have the same costs, how many units does each producer make?

d. How many producers are in this market?

e. How much profit does each producer earnper unit?

f. Can we expect any new supplier entering in the market? (Y/N); Why?

b) According to the information given:

a. How many firms there will be in this market in the long run?

b. How much Economic Profit will each company earn in the long run?

GET THE COMPLETED ASSIGNMENT

ASSIGNMENT COMPLETED AT CapitalEssayWriting.com

MAKE YOUR ORDER AND GET THE COMPLETED ORDER

CLICK HERE TO ORDER THIS PAPER AT CapitalEssayWriting.com ON Managing Projects and Technologies module

NO PLAGIARISM, Get impressive Grades in Your Academic Work

Comments

Post a Comment

Popular posts from this blog

Should pit bull terriers be banned in my community

 Discussion Forum: Counterarguments (Should pit bull terriers be banned in my community) You created a question about the topic for your W6 Rough Draft. For this discussion, you will give an answer to that question in the form of a thesis statement. "Dieting Makes People Fat" Main Post: Share your thesis statement with your classmates. Please note: As with last week’s discussion, nothing here is set in stone. Be open to changing everything about your topic, including your position and audience, as you research it and get feedback from your classmates. Topic + Position/Purpose + Supporting Points =Thesis Statement Example: Suppose the question you posed in the Week 5 discussion was something like, “Should pit bull terriers be banned in my community?” After doing some preliminary research, you have concluded that pit bulls, if raised properly, are no more dangerous than other breeds of dogs. Your thesis statement can be something like, “Pitbulls should not be banned
Post a Comment
Read more

Controversy Associated With Dissociative Disorders

 Assignment: Controversy Associated With Dissociative Disorders The  DSM-5-TR  is a diagnostic tool. It has evolved over the decades, as have the classifications and criteria within its pages. It is used not just for diagnosis, however, but also for billing, access to services, and legal cases. Not all practitioners are in agreement with the content and structure of the  DSM-5-TR , and dissociative disorders are one such area. These disorders can be difficult to distinguish and diagnose. There is also controversy in the field over the legitimacy of certain dissociative disorders, such as dissociative identity disorder, which was formerly called multiple personality disorder. In this Assignment, you will examine the controversy surrounding dissociative disorders. You will also explore clinical, ethical, and legal considerations pertinent to working with patients with these disorders. Photo Credit: Getty Images/Wavebreak Media To Prepare · Review this week’s Learning
Post a Comment
Read more

CYBER SECURITY and how it can impact today's healthcare system and the future

 Start by reading and following these instructions: Create your Assignment submission and be sure to cite your sources, use APA style as required, and check your spelling. Assignment: Recommendations Document Due Week 6 (100 pts) Main Assignment Recommendations Document The 1250 to 1500-word deliverable for this week is an initial draft of your recommendations. Note that this is a working document and may be modified based on insights gained in module eight and your professor's feedback. This document should contain the following elements: Summary of your problem or opportunity definition A list of possible recommendation alternatives. In this section, you are not yet at the point of suggesting the best set of recommendations but you are trying to be creative and explore all the different ways that the problem or opportunity might best be addressed. The end result here will be a list of alternatives among which you will choose your final recom
Post a Comment
Read more