TokyopunK

09-30-2007, 10:21 AM

Hey guys it's your favorite Tennis Warehouse poster TokyopunK!!!

I am in quite a tough fix here as I have to turn in my answer for a final Economy homework question tomorrow but after reviewing the material a bajillion times I still am not confident with my answer.

Here is the problem.

http://i89.photobucket.com/albums/k225/Shoryuken89/FirmA.jpg

http://i89.photobucket.com/albums/k225/Shoryuken89/FirmB.jpg

a) What is the lowest price at which firm A will produce?

b) How many units of output will it produce at that price?

c) What is the lowest price at which firm B will produce?

d) How many units of output will it produce at that price?

e) How many units will firm A produce if the market price is $20?

f) How many units will firm B produce if the market price is $20?

g) If each firm's total fixed costs are $20 and the price of output is $20, which firm would earn a higher net profit or incur a smaller loss?

h) How much would that net profit or loss be?

My answers were:

a) 82

b) 5

c) 36

d) 3

e) 6

f) 6

g) ?

h) ?

If anyone is particularly strong in the field of Economics and could help me I would greatly appreciate it.

I will also send $10 via Paypal for verification or alterations to my answers. Thanks!

P.S. Please don't flame me because I am very sensitive and will cry.

I am in quite a tough fix here as I have to turn in my answer for a final Economy homework question tomorrow but after reviewing the material a bajillion times I still am not confident with my answer.

Here is the problem.

http://i89.photobucket.com/albums/k225/Shoryuken89/FirmA.jpg

http://i89.photobucket.com/albums/k225/Shoryuken89/FirmB.jpg

a) What is the lowest price at which firm A will produce?

b) How many units of output will it produce at that price?

c) What is the lowest price at which firm B will produce?

d) How many units of output will it produce at that price?

e) How many units will firm A produce if the market price is $20?

f) How many units will firm B produce if the market price is $20?

g) If each firm's total fixed costs are $20 and the price of output is $20, which firm would earn a higher net profit or incur a smaller loss?

h) How much would that net profit or loss be?

My answers were:

a) 82

b) 5

c) 36

d) 3

e) 6

f) 6

g) ?

h) ?

If anyone is particularly strong in the field of Economics and could help me I would greatly appreciate it.

I will also send $10 via Paypal for verification or alterations to my answers. Thanks!

P.S. Please don't flame me because I am very sensitive and will cry.