The table shows the demand schedule for Meg's Nails.Meg's Nails operates in a market called perfect...

Question

The table shows the demand schedule for Meg's Nails.
Meg's Nails operates in a market called perfect competition OE monopolistic competition C a monopoly Ori a perfect oligopoly ADE an oligopoly original revenue for each box of nails demanded is

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Robert · Accepted Answer

Question 190192_1 
The point at which demand curve intersect the MC curve is the efficient point  
Draw a triangle from price 10 to 3 to quantity 700 
Consumer surplus $2450 
Question 190192_2
 

Rotate inward and shift outward 
Question 190192_3 
The firm can vary the quantity it sells without affecting the price it receives for the good it 
produces 
Question 190192_4 
2.5 lattes per paperback book 
Question 324500_1 
Perfect Competition, Marginal Revenue is $55 
Question 324500_2 
Marginal product of hiring third worker is 36 tacos and Value of marginal product is $144 
Question 324500_3 
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4
6
8
10
12
0 1 2 3 4 5
Hanna’s profit maximising output is 2 haircuts per hour 
Profit maximising price is $2 
Economic profit is $2 
Question 324500_4 
Firm produces close to 1000 toys per week  
The firm earn per unit profit of $4 (total profit =1000*$4 =$4000) 
In the long run, number of firms in the market will increase 
Question 324500_5 
Maharaja’s will hire 5 workers to maximise profit 
Maharaja’s produces 114 samosas a day to maximise profit

The table shows the demand schedule for Meg's Nails. Meg's Nails operates in a market called perfect competition OE monopolistic competition C a monopoly Ori a perfect oligopoly ADE an oligopoly...

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