Saved Suppose that the monthly market demand schedule for Frisbees is listed below: Price $8 $7 $6 $5 $4 $3 $2 Quantity demanded 1,000 2,000 4,000 8,000 16,000 32,000 64,000 Suppose further that the...


How many (identical)firms are initially producing Frisbees?


Saved<br>Suppose that the monthly market demand schedule for Frisbees is listed below:<br>Price<br>$8<br>$7<br>$6<br>$5<br>$4<br>$3<br>$2<br>Quantity demanded<br>1,000<br>2,000<br>4,000<br>8,000 16,000 32,000 64,000<br>Suppose further that the marginal and average costs of Frisbee production for every compet<br>Rate of output<br>600<br>$7.00<br>100<br>200<br>300<br>400<br>500<br>Marginal cost<br>Average total cost<br>242.00 $3.00<br>$2.00 $2.50 $3.00 $3.50<br>$6.00<br>$4.00 $4.5O<br>$4.00 $5.00<br>Finally, assume that the equilibrium market price is $6 per Frisbee.<br>(a) Identify this firm's profit-maximizing rate of output.<br>Instructions: Enter your response as a whole number.<br>500 units of output<br>(b) Draw the market demand curve.<br>< Prev<br>8 of 9<br>Next ><br>DELL<br>%24<br>%24<br>%24<br>%24<br>

Extracted text: Saved Suppose that the monthly market demand schedule for Frisbees is listed below: Price $8 $7 $6 $5 $4 $3 $2 Quantity demanded 1,000 2,000 4,000 8,000 16,000 32,000 64,000 Suppose further that the marginal and average costs of Frisbee production for every compet Rate of output 600 $7.00 100 200 300 400 500 Marginal cost Average total cost 242.00 $3.00 $2.00 $2.50 $3.00 $3.50 $6.00 $4.00 $4.5O $4.00 $5.00 Finally, assume that the equilibrium market price is $6 per Frisbee. (a) Identify this firm's profit-maximizing rate of output. Instructions: Enter your response as a whole number. 500 units of output (b) Draw the market demand curve. < prev="" 8="" of="" 9="" next=""> DELL %24 %24 %24 %24

Jun 10, 2022
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