Suppose that the U.S. textile industry is competitive and there is no international trade in textiles. In long-run equilibrium, the price per unit of cloth is $30.

What is the short-run effect on profits? Illustrate your answer with a graph

Suppose that the profit-maximizing quantity of output for a firm in the competitive textile industry is 1 million yards of cloth. If this firm is representative of others in the industry, how can you describe total supply in the market, with respect to the number of firms?

A good example of a monopolistic competitive industry is

A) the U.S. auto industry.

B) the public utility industry.

C) the computer game industry.

D) mining.

The market for fertilizer is perfectly competitive. Firms in the market are producing output, but are currently making economic losses.

Draw two graphs, side by side, illustrating the present situation for the typical firm and in the market..

The market for fertilizer is perfectly competitive. Firms in the market are producing output, but are currently making economic losses.

How does the price of fertilizer compare to the average total cost, the average variable cost, and the marginal cost of producing fertilizer?

A market with a large number of sellers:
A) can only be a monopolistically competitive market.
B) might be a monopolistically competitive or a perfectly competitive market.
C) can only be a perfectly competitive market.
D) might be a perfectly competitive, monopolistically competitive, oligopoly or monopoly market.
E) might be an oligopoly or a perfectly competitive market.

An industry currently has 100$firms, all of which have fixed costs of$$16$ and average variable cost as follows:

$$\begin{array}{cc} \text{ Quantity } & \text{ Average Variable Cost } \\ \hline 1 & \$ 1 \\ 2 & 2 \\ 3 & 3 \\ 4 & 4 \\ 5 & 5 \\ 6 & 6 \end{array}$$

Compute marginal cost and average total cost.

An industry currently has 100 firms, all of which have fixed costs of $16 and average variable cost as follows:

$$\begin{array}{cc} \text { Quantity } & \text { Average Variable Cost } \\ \hline 1 & \$ 1 \\ 2 & 2 \\ 3 & 3 \\ 4 & 4 \\ 5 & 5 \\ 6 & 6 \end{array}$$

Graph the long-run supply curve for this market.

An industry currently has $100$ firms, all of which have fixed costs of $\$ 16$ and average variable cost as follows:

$$\begin{array}{cc} \text{ Quantity } & \text{ Average Variable Cost} \\ \hline 1 & \$ 1 \\ 2 & 2 \\ 3 & 3 \\ 4 & 4 \\ 5 & 5 \\ 6 & 6 \end{array}$$

The price is currently $\$ 10$. What is the total quantity supplied in the market?

An industry currently has 100 firms, all of which have fixed costs of $16 and average variable cost as follows:

$$\begin{array}{cc} \text { Quantity } & \text { Average Variable Cost } \\ \hline 1 & \$ 1 \\ 2 & 2 \\ 3 & 3 \\ 4 & 4 \\ 5 & 5 \\ 6 & 6 \end{array}$$

The price is currently $10. What is the total quantity supplied in the market?

A company determines that its marginal-cost function is given by

$C^{\prime}(x)=4 x \sqrt{x+3}$.

Find the total cost given that C(13) = 1126.40 dollars.

The total cost (in dollars) for MCD, Inc. Manufacturing Company to produce $x$ blank CDs per week is given by the polynomial function $C(x)=0.2 x+5000$. Find the total cost of producing 20,000 CDs per week.

How may analyzing sales and receivables provide information about a firm’s profitability?