Question : 15.2 Output, Price, and Profit in the Short Run 1) The : 1226171

15.2 Output, Price, and Profit in the Short Run

1) The market supply in the short run for the perfectly competitive industry is

A) the same as each producer’s supply.

B) the sum of the supply schedules of all firms.

C) divided up according to each firm’s selling price.

D) set at the maximum price a buyer will pay for one unit.

E) equal to the average of each firm’s supply schedule.

2) If there are 1,000 identical rice farmers who are each willing to supply 200 bushels of rice at $2 per bushel, what price and quantity combination is a point on the market supply curve for rice?

A) $2 and 200 bushels

B) $2 and 200,000 bushels

C) $2,000 and 200,000 bushels

D) $2,000 and 1,000 bushels

E) $2 and 1,000 farmers

3) In the short run, a perfectly competitive firm ________ make an economic profit and ________ incur an economic loss.

A) might; will never

B) will never; might

C) might; might

D) will never; will never

E) will definitely; will never

4) In the short run, a perfectly competitive firm

A) can make only zero economic profit.

B) can possibly make an economic profit or possibly incur an economic loss.

C) produces the level of output that sets the average total cost equal to the market price.

D) can vary all its inputs.

E) can change only its fixed inputs.

5) In the short run, a perfectly competitive firm can experience which of the following?

i.an economic profit

ii.an economic loss but it continues to stay open

iii.an economic loss equal to its total fixed cost when it shuts down

A) only i

B) i and ii

C) i and iii

D) ii and iii

E) i, ii, and iii

6) If a perfectly competitive seller is maximizing profit and is making zero economic profit, which of the following will this seller do?

A) go to work in the next-best earning opportunity

B) shut down, with a loss equal to total fixed cost

C) continue at the current output, making zero economic profit

D) increase production in order to make an economic profit

E) remain open but decrease production in order to make an economic profit

7) If a perfectly competitive firm finds that the price exceeds its ATC, then the firm

A) will raise its price to increase its economic profit.

B) will lower its price to increase its economic profit.

C) is making an economic profit.

D) is incurring an economic loss.

E) is making zero economic profit.

8) For a perfectly competitive sugar producer in Haiti, a short-run economic profit will occur if the price of each ton of sugar sold is

A) greater than the average total cost of producing sugar.

B) equal to the average total cost of producing sugar.

C) less than the average total cost of producing sugar.

D) rising as more sugar is sold.

E) greater than the marginal revenue of each ton of sugar.

9) If Henry, a perfectly competitive lime grower in Southern California, can sell his limes at a price greater than his average total cost, Henry will

A) incur an economic loss.

B) incur an accounting loss.

C) have an incentive to shut down.

D) make an economic profit.

E) make zero economic profit.

10) If a perfectly competitive firm’s average total cost is less than the price, then the firm

A) incurs an economic loss.

B) makes an economic profit.

C) makes zero economic profit.

D) makes either zero economic profit or an economic profit depending on whether the marginal revenue is equal to or greater than the price.

E) None of the above answers is correct because the relationship between the price and average total cost has nothing to do with the firm’s profit.

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July 1, 2023

Watch video entitled “Module 6 – Discrete-Time Signals in MATLAB”
Work the lab activity below using MATLAB.
Include answers for Problems and include MATLAB coding along with any output plots that support solutions into a Word document entitled “Lab6_StudentID”. Where your student id is substituted in the file name.
Upload file “Lab6_StudentID”.

Activity 1:

A discrete-time system can be described in one of two ways. One is by the unit-pulse response of the system, and the other is by the difference equation. In the first case, if we are given an input and want to find the output, we have to convolve the system response with the input signal. In the second case, we have to solve the difference equation for the output when the input signal is substituted into the difference equation. The result should be the same no matter what approach is used.

A discrete-time system has the following unit-pulse response:

for

Correspondingly, the following difference equation describes the behavior of the system:

Use the Matlab command conv to calculate the response of the system to a unit step input, x[n]=u[n]. Consider . Show what you type into the Matlab command window. Also, submit a plot of the output. Be sure to label your axes.

Matlab Tip: Remember that you can easily get help on a command in Matlab by typing help with the command at the prompt:

EDU>>help conv

Matlab Tip: Also, don't forget that in Matlab when you do certain operations on an array element-by-element, you must precede the operator with a period. For instance, in Matlab, if you define an array n as follows:

EDU>>n=[0:20];

then the first term of the unit-pulse response is written as 0.5.^n

Matlab Tip: Sometimes it is useful to know the size of arrays you have created. This can be done in several ways. For example, you can use the command size:

EDU>> size(n)

ans =

1 21

The size of the array is returned. In this case, the array n has a size of 1 row by 21 columns.

Alternatively, you can switch the display from the Current Directory to the Workspace. Then all current variables and arrays and their sizes are displayed. Just click on Workspace in the upper left corner as indicated below.

Use the Matlab function recur to calculate the response of the system to a unit step input, x[n]=u[n]. Again consider . Show all that you type into the Matlab command window. Submit a plot of the output with the axes labeled.

The Matlab function recur is not a function which comes with Matlab or any of the toolboxes you have installed. Instead, it is a that must be added to your Matlab directory.

The Matlab function recur can be found in a zip file at the Mathworks site at the following location:

http://www.mathworks.com/matlabcentral/fileexchange/loadFile.do?objectId=2148

Extract the file recur.m to the current directory shown at the top of the Matlab window.

On the other hand, you can copy and paste the script below into a text file like Notepad and save it as recur.m in the current directory shown at the top of the Matlab window.

function y = recur(a,b,n,x,x0,y0);

% y = recur(a,b,n,x,x0,y0)

% solves for y[n] from:

% y[n] + a1*y[n-1] + a2*y[n-2]... + an*y[n-N]

% = b0*x[n] + b1*x[n-1] + ... + bm*x[n-M]

% a, b, n, x, x0 and y0 are vectors

% a = [a1 a2 ... aN]

% b = [b0 b1 ... bM]

% n contains the time values for which the solution will be computed

% y0 contains the initial conditions for y, in order,

% i.e., y0 = [y[n0-N], y[n0-N+1], ...,y[n0-1]]

% where n0 represents the first element of n

% x0 contains the initial conditions on x, in order

% i.e., x0 = [x[n0-M],...,x[n0-1]]

% the output, y, has length(n)

N = length(a);

M = length(b)-1;

if length(y0) ~= N,

error('Lengths of a and y0 must match')

end

if length(x0) ~= M,

error('Length of x0 must match length of b-1')

end

y = [y0 zeros(1,length(n))];

x = [x0 x];

a1 = a(length(a):-1:1); % reverses the elements in a

b1 = b(length(b):-1:1);

for i=N+1:N+length(n),

y(i) = -a1*y(i-N:i-1)' + b1*x(i-N:i-N+M)';

end

y = y(N+1:N+length(n));

To get information on how to use the function, at the Matlab prompt, type:

EDU>>help recur

It might be helpful to change the index of the difference equation such that the highest index is n rather than n+2.

Are your plots the same? If not, why not?

**PLEASE SEE ATTACHMENT**

July 1, 2023

Watch video entitled “Module 6 – Discrete-Time Signals in MATLAB”
Work the lab activity below using MATLAB.
Include answers for Problems and include MATLAB coding along with any output plots that support solutions into a Word document entitled “Lab6_StudentID”. Where your student id is substituted in the file name.
Upload file “Lab6_StudentID”.

Activity 1:

A discrete-time system has the following unit-pulse response:

for

Correspondingly, the following difference equation describes the behavior of the system:

Use the Matlab command conv to calculate the response of the system to a unit step input, x[n]=u[n]. Consider . Show what you type into the Matlab command window. Also, submit a plot of the output. Be sure to label your axes.

Matlab Tip: Remember that you can easily get help on a command in Matlab by typing help with the command at the prompt:

EDU>>help conv

EDU>>n=[0:20];

then the first term of the unit-pulse response is written as 0.5.^n

Matlab Tip: Sometimes it is useful to know the size of arrays you have created. This can be done in several ways. For example, you can use the command size:

EDU>> size(n)

ans =

1 21

The size of the array is returned. In this case, the array n has a size of 1 row by 21 columns.

Use the Matlab function recur to calculate the response of the system to a unit step input, x[n]=u[n]. Again consider . Show all that you type into the Matlab command window. Submit a plot of the output with the axes labeled.

The Matlab function recur is not a function which comes with Matlab or any of the toolboxes you have installed. Instead, it is a that must be added to your Matlab directory.

The Matlab function recur can be found in a zip file at the Mathworks site at the following location:

http://www.mathworks.com/matlabcentral/fileexchange/loadFile.do?objectId=2148

Extract the file recur.m to the current directory shown at the top of the Matlab window.

On the other hand, you can copy and paste the script below into a text file like Notepad and save it as recur.m in the current directory shown at the top of the Matlab window.

function y = recur(a,b,n,x,x0,y0);

% y = recur(a,b,n,x,x0,y0)

% solves for y[n] from:

% y[n] + a1*y[n-1] + a2*y[n-2]... + an*y[n-N]

% = b0*x[n] + b1*x[n-1] + ... + bm*x[n-M]

% a, b, n, x, x0 and y0 are vectors

% a = [a1 a2 ... aN]

% b = [b0 b1 ... bM]

% n contains the time values for which the solution will be computed

% y0 contains the initial conditions for y, in order,

% i.e., y0 = [y[n0-N], y[n0-N+1], ...,y[n0-1]]

% where n0 represents the first element of n

% x0 contains the initial conditions on x, in order

% i.e., x0 = [x[n0-M],...,x[n0-1]]

% the output, y, has length(n)

N = length(a);

M = length(b)-1;

if length(y0) ~= N,

error('Lengths of a and y0 must match')

end

if length(x0) ~= M,

error('Length of x0 must match length of b-1')

end

y = [y0 zeros(1,length(n))];

x = [x0 x];

a1 = a(length(a):-1:1); % reverses the elements in a

b1 = b(length(b):-1:1);

for i=N+1:N+length(n),

y(i) = -a1*y(i-N:i-1)' + b1*x(i-N:i-N+M)';

end

y = y(N+1:N+length(n));

To get information on how to use the function, at the Matlab prompt, type:

EDU>>help recur

It might be helpful to change the index of the difference equation such that the highest index is n rather than n+2.

Are your plots the same? If not, why not?

**PLEASE SEE ATTACHMENT**

July 1, 2023

Watch video entitled “Module 6 – Discrete-Time Signals in MATLAB”
Work the lab activity below using MATLAB.
Include answers for Problems and include MATLAB coding along with any output plots that support solutions into a Word document entitled “Lab6_StudentID”. Where your student id is substituted in the file name.
Upload file “Lab6_StudentID”.

Activity 1:

A discrete-time system has the following unit-pulse response:

for

Correspondingly, the following difference equation describes the behavior of the system:

Use the Matlab command conv to calculate the response of the system to a unit step input, x[n]=u[n]. Consider . Show what you type into the Matlab command window. Also, submit a plot of the output. Be sure to label your axes.

Matlab Tip: Remember that you can easily get help on a command in Matlab by typing help with the command at the prompt:

EDU>>help conv

EDU>>n=[0:20];

then the first term of the unit-pulse response is written as 0.5.^n

Matlab Tip: Sometimes it is useful to know the size of arrays you have created. This can be done in several ways. For example, you can use the command size:

EDU>> size(n)

ans =

1 21

The size of the array is returned. In this case, the array n has a size of 1 row by 21 columns.

Use the Matlab function recur to calculate the response of the system to a unit step input, x[n]=u[n]. Again consider . Show all that you type into the Matlab command window. Submit a plot of the output with the axes labeled.

The Matlab function recur is not a function which comes with Matlab or any of the toolboxes you have installed. Instead, it is a that must be added to your Matlab directory.

The Matlab function recur can be found in a zip file at the Mathworks site at the following location:

http://www.mathworks.com/matlabcentral/fileexchange/loadFile.do?objectId=2148

Extract the file recur.m to the current directory shown at the top of the Matlab window.

On the other hand, you can copy and paste the script below into a text file like Notepad and save it as recur.m in the current directory shown at the top of the Matlab window.

function y = recur(a,b,n,x,x0,y0);

% y = recur(a,b,n,x,x0,y0)

% solves for y[n] from:

% y[n] + a1*y[n-1] + a2*y[n-2]... + an*y[n-N]

% = b0*x[n] + b1*x[n-1] + ... + bm*x[n-M]

% a, b, n, x, x0 and y0 are vectors

% a = [a1 a2 ... aN]

% b = [b0 b1 ... bM]

% n contains the time values for which the solution will be computed

% y0 contains the initial conditions for y, in order,

% i.e., y0 = [y[n0-N], y[n0-N+1], ...,y[n0-1]]

% where n0 represents the first element of n

% x0 contains the initial conditions on x, in order

% i.e., x0 = [x[n0-M],...,x[n0-1]]

% the output, y, has length(n)

N = length(a);

M = length(b)-1;

if length(y0) ~= N,

error('Lengths of a and y0 must match')

end

if length(x0) ~= M,

error('Length of x0 must match length of b-1')

end

y = [y0 zeros(1,length(n))];

x = [x0 x];

a1 = a(length(a):-1:1); % reverses the elements in a

b1 = b(length(b):-1:1);

for i=N+1:N+length(n),

y(i) = -a1*y(i-N:i-1)' + b1*x(i-N:i-N+M)';

end

y = y(N+1:N+length(n));

To get information on how to use the function, at the Matlab prompt, type:

EDU>>help recur

It might be helpful to change the index of the difference equation such that the highest index is n rather than n+2.

Are your plots the same? If not, why not?

**PLEASE SEE ATTACHMENT**

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Question : 15.2 Output, Price, and Profit in the Short Run 1) The : 1226171

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