Pts 3 points the maximum profit for this firm is

This preview shows page 10 - 13 out of 64 pages.

Question 143 / 3 pts(3 points) The maximum profit for this firm is __________.
Question 152 / 2 pts(2 points) Using Scenario C/Table C, go to Graph 1. Label the profit maximizing Q and L combination as point C.This work is to be done on your Homework 03 Graphing templatePreview the document. You will upload this work, along with other work to be done on the template, to question #31 at the end of this HW. Enter the word "Finished" into the text-box below when ready to move on.
HW3Q15.pngQuestion 162 / 3 pts(3 points) Using Scenario C/Table C, go to Graph 4 and draw in this firm’s new wage line. The MRP curve is unchanged since MRP = P* MPL, and neither P nor MPL has changed. Shade in the new area for profit. Also label the profit maximizing point as letter C.This work is to be done on your Homework 03 Graphing templatePreview the document. You will upload this work, along with other work to be done on the template, to question #31 at the end of this HW. Enter the word "Finished" into the text-box below when ready to move on.
Question 173 / 3 pts(3 points) Using Scenario C/Table C, go to graph 3 and add this firm’s new supply curve. Label as point C the price and output combination occurring after the change in economic conditions in Scenario C (P= $20, and the profit maximizing Q you found in your answer for #12 above). You only have one point on this supply curve, but you can sketch it as an upward sloping supply curve that is parallel to the supply curve you drew earlier.This work is to be done on your Homework 03 Graphing templatePreview the document. You will upload this work, along with other work to be done on the template, to question #31 at the end of this HW. Enter the word "Finished" into the text-box below when ready to move on.
Question 182 / 2 pts(2 points) When comparing Scenario A to Scenario C, the firm now hires _______fewer Correct!more Question 192 / 2 pts(2 points) When comparing Scenario A to Scenario C, the firm now produces _____Correct!
Question 202 / 2 pts(2 points) When comparing Scenario A to Scenario C, the firm now earns _______ profit.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture