Under profit-maximizing equilibrium, which of the following will not be equal to the other three?
a) the marginal revenue product of input X.
b) The price of input X.
c) the marginal cost of input X.
d) the marginal product of input X.
e) all will be equal.
... Solutions to given problems explain the steps to find out equilibrium price and quantity. It also explains the steps to find out profit maximizing output and ...
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...maximizing level of output. 3. What is the firm's profit or loss? Recall the formula for profit. Profit = TR - TC Profit = P*Q - TC(Q) We know equilibrium...
... in the market, the supply will increase, pulling down the price and the new equilibrium will be at ... What is the profit-maximizing level of output for this firm? ...
... C. If the competition price is 100, calculate the profit maximizing output and the amount of ... A. Explain why the industry is in long run competition equilibrium. ...
... a) The short-run profit-maximizing condition in the Perfectly Competitive Market, P = SMC = SMR So ... q 4) = 0 or q = 4. So, at P=10, in equilibrium, the firm ...
