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1. How does the demand curve faced by a perfectly competitive firm differ from the market demand curve in a perfectly competitive market? Explain. 2. A perfectly competitive firm has the following fixed and variable costs in the short run. The market price for the firm’s product is $140. Output FC VC TC TR Profit/Loss 0 $90 $ 0 ___ ___ ___ 1 90 90 ___ ___ ___ 2 90 170 ___ ___ ___ 3 90 290 ___ ___ ___ 4 90 430 ___ ___ ___ 5 90 590 ___ ___ ___ 6 90 770 ___ ___ ___ a. Complete the table. b. What level of output should the firm produce to maximize profits? 3. How does the demand curve faced by a monopoly differ from the demand curve faced by a perfectly competitive firm? Explain. 4. The following table provides market share information about the soft-drink industry. Company Market Share Coca-Cola 37% Pepsi-Co 35 Cadbury Schweppers 17 Other 11 Do you think the Department of Justice and the Federal Trade Commission would approve a merger between any two of the first three companies listed? Explain. Directions for Submitting your Assignment Complete your assignment in this Microsoft Word® document and save it as Username-MT445Assignment-Unit#.doc (Example:TAllen-MT445Assignment-Unit4.doc). Submit your file by selecting the Unit 4: Assignment Dropbox by the end of Unit 4.

1. How does the demand curve faced by a perfectly competitive firm differ from the market demand curve in a perfectly competitive market? Explain.

2. A perfectly competitive firm has the following fixed and variable costs in the short run. The market price for the firm’s product is $140.

Output FC VC TC TR Profit/Loss

0 $90 $ 0 ___ ___ ___

1 90 90 ___ ___ ___

2 90 170 ___ ___ ___

3 90 290 ___ ___ ___

4 90 430 ___ ___ ___

5 90 590 ___ ___ ___

6 90 770 ___ ___ ___

a. Complete the table.

b. What level of output should the firm produce to maximize profits?

3. How does the demand curve faced by a monopoly differ from the demand curve faced by a perfectly competitive firm? Explain.

4. The following table provides market share information about the soft-drink industry.

Company Market Share
Coca-Cola 37%
Pepsi-Co 35
Cadbury Schweppers 17
Other 11

Do you think the Department of Justice and the Federal Trade Commission would approve a merger between any two of the first three companies listed? Explain.

 

 

Directions for Submitting your Assignment

Complete your assignment in this Microsoft Word® document and save it as Username-MT445Assignment-Unit#.doc (Example:TAllen-MT445Assignment-Unit4.doc). Submit your file by selecting the Unit 4: Assignment Dropbox by the end of Unit 4.

Interested in a PLAGIARISM-FREE paper based on these particular instructions?...with 100% confidentiality?

Order Now