In the short run, if a firm operates, it earns a profit of $500. The fixed costs of the firm are $100. This firm has a producer surplus of

Assume that in the short run a firm is producing 100 units of output, has average total costs of $200, and has average variable costs of $150. The firm's total fixed costs areMultiple Choice$5,000.$500.$0.50.$50.

Refer to Scenario 15.5. Suppose there are 100 firms each with a short run total cost of TC = q2 + q + 4, so that marginal cost is MC = 2q +1. If market demand is given by QD = 1050 − 50P, how much will be produced in the market ( Call this Q)?  and what profit will each firm make?Group of answer choicesQ=300, Profit = $25Q=400, Profit = $15Q=500, Profit = $21Q=600, Profit = $50

Suppose there are 100 firms each with a short run total cost of STC = q2 + q + 10, so that marginal cost is MC = 2q +1. If market demand is given by QD = 1050 - 50P, profit to the firm will beQuestion 3Select one:a.5.b.6.c.15.d.9.

A firm has received an additional order for 50,000 units of product X at $20. The firm is currently operating at practical capacity of 600,000 units. To meet this order, new equipment at a cost of $200,000 would have to be purchased, and this equipment would have to be scrapped after the order had been filled. The firm currently sells product X for $50 per unit, has variable costs of $15.80, and fixed costs of $600,000. What is the additional profit (loss) for the firm if it accepts the order?

Consider a firm operating in a competitive market in the short run. The table below shows the firm’s total cost of production at various output levels.  Assume the firm cannot supply more than 7 units in the short run. At a market price of $10, how many units of output should the firm supply?Output (q) FC ($) VC ($)0 10 01 10 22 10 63 10 104 10 155 10 216 10 307 10 40