MT445 unit 4 assignment - MT 445 unit 4 assignment (Graded A+) - 18657

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_KULogo.jpgUnit 4 Assignment

Student Name:

 

Please answer the following questions.  Submit as a Microsoft Word® document to the Dropbox when completed.

 

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.

 

 

Solution Description

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