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slavikrds [6]
3 years ago
12

Suppose that Andy sells basketballs in the perfectly competitive basketball market. His output per day and his costs are as​ fol

lows: Output Per Day Total Cost Variable Cost Average Total Cost Average Variable Cost Marginal Cost 0 ​$10.00 ​$0 ​-- ​-- ​-- 1 15.00 5 ​$15.00 ​$5.00 ​$5.00 2 17.50 7.50 8.75 3.75 2.50 3 22.50 12.50 7.50 4.17 5.00 4 30.00 20.00 7.50 5.00 7.50 5 40.00 30.00 8.00 6.00 10.00 6 52.50 42.50 8.75 7.08 12.50 7 67.50 57.50 9.64 8.21 15.00 8 85.00 75.00 10.63 9.38 17.50 9 105.00 95.00 11.67 10.56 20.00 Suppose the equilibrium price of basketballs is​ $2.50. In the short​ run, how many basketballs will Andy​ produce? nothing ​(enter a whole​ number). How much profit​ (or loss) will he​ make? ​$nothing per day ​(round your answer to the nearest​ penny, and express a loss as a negative​ number).

Business
1 answer:
Gwar [14]3 years ago
5 0

Answer:

No single unit will be produced.

Profit will be -$10 per day

Explanation:

Find the attachment

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The present value of a cash flow will always be <u>less</u> than the future dollar amount of the cash flow.

<h3>What is the present value?</h3>

The present value is the value of future cash flows discounted by the discount rate to today's value.

Discounting converts a future value to an equivalent value received today. Discounting measures the relative value of a series of future cash flows to a present value.

For example, if $500 is to be received in ten years, with a discount rate of 5%, its present value will be $307 ($500 x 0.614).

Thus, the present value of a cash flow will always be <u>less</u> than the future dollar amount of the cash flow.

Learn more about the present and future values at brainly.com/question/15904086

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c. $14,000 increase

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3 years ago
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