An industry currently has 100 firms, each of which has a fix…

An industry currently has 100 firms, each of which has a fixed cost of $16 and total cost as follows: Quantity Total Cost 1 17 2 20 3 25 4 32 5 41 6 52 a. Compute a firm’s average total cost and marginal cost for each quantity from 1 to 6. (8 points) b. The equilibrium price is currently $10. How much does each firm produce? What is the total quantity supplied in the market? (6 points) c. In the long run, firms can enter and exit the market, and all entrants have the same costs as above. As this market makes the transition to its long-run equilibrium, will the price rise or fall? Explain. (4 points) d. What is the long-run equilibrium price? Graph the long-run supply curve for this market, with specific numbers on axes as relevant. (6 points)

A certain quantity of oxygen occupies a volume of 1.5 m3 at…

A certain quantity of oxygen occupies a volume of 1.5 m3 at 10 ºC and ordinary atmospheric pressure (105 N/m2). If the pressure is doubled, but the volume is held constant, the new temperature is ___A___.   For the same initial quantity of oxygen that occupies a volume of 1.5 m3 at 10 ºC and ordinary atmospheric pressure (105 N/m2). If the temperature is decreasing to 5 ºC, but the pressure is constant, the volume will be ___B___.   Hint: When using the Ideal Gas Law temperature must be converted to Kelvin.

Match the letters below with the correct choice on the right…

Match the letters below with the correct choice on the right. Selections on the right may be used once, more than once, or not at all. Write the two Principles of Thermodynamics. Give an example with efficiency connection. 1. ___A___ cannot be created or destroyed, but it can be converted from one form to another. In terms of efficiency this law can be expressed as ___B___. 2. It is impossible to take ___C___ from a source and change all of it to mechanical energy or work; some heat must be wasted. In terms of efficiency this law can be expressed as ___D___.

Match the letters below with the correct choice on the right…

Match the letters below with the correct choice on the right. Selections on the right may be used once, more than once, or not at all.  The proportionality between the galactic speed and distance was discovered in 1929 by the astronomer Edwin Hubble and is known as Hubble’s law. This law states that the ___A___ the distance of galaxies from earth, the faster the galaxies are traveling. The universe, in other words, is ___B___ with the result that its component galaxies are moving further apart. The ___C___ shift in the light from a galaxy is determined by how much the universe has expanded since the galaxy emitted the light.