Economics unit 4

can access the textbook online

This assignment covers chapters 21 & 22 of the online textbook.

Don't use plagiarized sources. Get Your Custom Essay on
Economics unit 4
Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT!
Order Essay



For the Unit 4 Complete assignment, write a narrative essay which addresses the questions and statements below. When finished, the essay should demonstrate a thorough understanding of the READ and ATTEND sections. A minimum of five scholarly sources are required, and all sources should be cited and referenced in APA 7th edition format.

For each lettered space in the following table, determine the appropriate dollar amount

Assume that the above cost data is for a perfectly competitive firm. Using this data answer the following:

(a) If the market equilibrium price that this firm charges is $50, what level of output must this firm produce to maximize its profit?

(b) What would be the amount of profit that this firm would earn if it produced at the profit-maximizing level of output?



3. Explain why a perfectly competitive firm will shut down in the short run if price is lower than average variable cost but will continue to produce if price is below average total cost but above average variable cost.


You read in a business magazine that farmers are reaping high profits. With the theory of perfect competition in mind, what do you expect to happen over time (in the long run) to each of the following?

a. The prices of agricultural products

b. The profits of farmers

c. The equilibrium output in agricultural markets

d. The number of farms

Homework Paper
Order NOW For A 10% Discount!
Pages (550 words)
Approximate price: -

Our Advantages

Plagiarism Free Papers

All our papers are original and written from scratch. We will email you a plagiarism report alongside your completed paper once done.

Free Revisions

All papers are submitted ahead of time. We do this to allow you time to point out any area you would need revision on, and help you for free.

Free Title-page

A title page preceeds all your paper content. Here, you put all your personal information and this we give out for free.

Free Bibliography

Without a reference/bibliography page, any academic paper is incomplete and doesnt qualify for grading. We also offer this for free.

Originality & Security

At, we take confidentiality seriously and all your personal information is stored safely and do not share it with third parties for any reasons whatsoever. Our work is original and we send plagiarism reports alongside every paper.

24/7 Customer Support

Our agents are online 24/7. Feel free to contact us through email or talk to our live agents.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

We work around the clock to see best customer experience.


Flexible Pricing

Our prices are pocket friendly and you can do partial payments. When that is not enough, we have a free enquiry service.


Admission help & Client-Writer Contact

When you need to elaborate something further to your writer, we provide that button.


Paper Submission

We take deadlines seriously and our papers are submitted ahead of time. We are happy to assist you in case of any adjustments needed.


Customer Feedback

Your feedback, good or bad is of great concern to us and we take it very seriously. We are, therefore, constantly adjusting our policies to ensure best customer/writer experience.