1) Given the following cost and revenue schedule, find the profit-maximizing quantity. Calculate total profits, average cost and average revenue.. Quantity 0 10 20 30 40 50 60 70 Total Cost 400 500 625 775 950 1150 1375 1625 Total Revenue 0 600 900 1150 1350 1500 1600 1650 2) Plot the total revenue curve, total cost curve. 3) Given the cost and revenue schedule above, find the profit-maximizing quantity. Calculate the marginal cost and marginal revenue.'* 4) Plot the marginal cost curve and marginal cost curve. Apply the profit maximizing rule in the short-run. (

1) Given the following cost and revenue schedule, find the profit-maximizing quantity. Calculate total profits, average cost and average revenue.. Quantity 0 10 20 30 40 50 60 70 Total Cost 400 500 625 775 950 1150 1375 1625 Total Revenue 0 600 900 1150 1350 1500 1600 1650 2) Plot the total revenue curve, total cost curve. 3) Given the cost and revenue schedule above, find the profit-maximizing quantity. Calculate the marginal cost and marginal revenue.'* 4) Plot the marginal cost curve and marginal cost curve. Apply the profit maximizing rule in the short-run. (

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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4. Various measures of cost Douglas Fur is a small manufacturer of fake-fur boots in Denver. The following table shows the company’s total cost of production at various production quantities.
Please check if CDE are right, thanks
Explain the concept of total revenue and total cost
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Mariam has a small bakery. She spends 200KD a month to rent a building for his company, 600KD a month for renting the machines, and 10KD for one hour of employees work. Mariam produced 300 cakes this month and sold at a price of 5KD. She has used 40 working hours. Calculate: 1. Mariam's fixed cost 2. Mariam's total cost of producing 300 cakes 3. Mariam's revenue when she sold 300 cakes 4. Mariam's profit when she sold 300 cakes
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