1). Complete the table. For the Percent contribution margin use (P-MC)/P. (FOR MR, MC,AVC, MR-MC & PERCENT CONTRIBUTION MARGIN, ROUND TO 2 DECIMALPLACES. FOR TOTAL REVENUE, TOTAL COST AND PROFIT ROUND TONEAREST WHOLE DOLLAR)AverageQuantityTotalMarginal FixedVariable TotalPriceDemandedRevenue Revenue CostCostCostCostVariable MarginalCostPercentContributionMR - MCProfitMargin186005005210177005005640168005006135159005006700232141000500733513110050080601212005008900

Step 1 Fin total revenue MR,TC, AVC P Quantity Total revenue MR Fixed cost. VC Tc Mc AVC 'MR-MC 18…

Answered: 1). Complete the table. For the Percent…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Refer to the figure and table to answer three questions. Price or Cost (dollars per bushel) 18 16 14 Price Marginal revenue 12 10 8 23450 6 4 N 0 Number of Bushels per Day 0 1 1 2 Price $13 13 13 13 13 13 3 4 5 Quantity (bushels of fish per day) Total Revenue c. Total profit or loss. $ SO 13 26 39 52 65 bushel(s) b. Profit or loss per bushel. per bushel Marginal cost 6 $10 15 22 31 44 61 Total Total Cost Profit $-10 -2 4 7 8 8 4 o Marginal Marginal Revenue Cost $13 13 13 13 13 $5 7 9 13 17 If the price of catfish changed from $13 to $12 per bushel, determine the Instructions: In parts a and c. enter your responses as a whole number. In part b, round your response to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) In front of those numbers. a. Profit-maximizing output. O
please read the question carefully as there are multiple questions with the same graphs that is shown on the image
Only answer 7, 8 and 10
11. Refer to the table below Output Total Variable Cost Total Cost 012345678 $0 $100 $100. $200 $140 $240 $190 $290 $250 $350 $320 $420 $400 $500 $490 $590 $590 $690 Suppose the firm has maximized profit based on the market price at the output of 8 units. What is the marginal revenue earned from the eighth unit? A) $100 B) $90 C) $590 D) $110 E) $690
The table below lists Bruno's Custom Bike Shop's costs and revenue for the month of May: Bike Parts: $5,000 Shop Rent: $1,000 Large Print Sign Advertisements: $ 50 Electric Bill: $150 Total Bike Sales: $9,000 Based on this information, determine Bruno's Custom Bike Shop's accounting profit for the month of May.
5
11. Profit maximization using total cost and total revenue curves Suppose Edison runs a small business that manufactures shirts. Assume that the market for shirts is a competitive market, and the market price is $25 per shirt. The following graph shows Edison's total cost curve. Use the blue points (circle symbol) to plot total revenue and the green points (triangle symbol) to plot profit for shirts quantities zero through seven (inclusive) that Edison produces. TOTAL COST AND REVENUE (Dollars) 200 175 150 125 100 0 -25 Ho 0 ☐ 1 ☐ 2 ☐ ▬▬▬ 3 4 5 QUANTITY (Shirts) ■ 6 Total Cost 7 8 O Total Revenue Profit ?
2. Cost-Volume-Profit Chart The cost-volume-profit chart shows the relationship between sales volume, costs, and profit. To cre this chart, we need to calculate the following values: - Contribution Margin per Unit: Selling Price - Variable Cost per Unit - Contribution Margin Ratio: Contribution Margin per Unit / Selling Price - Break-Even Point: Fixed Costs / Contribution Margin per Unit - Profit: (Unit Sales * Selling Price) - (Unit Sales * Variable Cost per Unit) - Fixed Costs For the first 100 units of clever wearable devices, we can calculate these values as follows: - Contribution Margin per Unit: $150 $50 = $100 - Contribution Margin Ratio: $100/$150 = 0.67 or 67% - Break-Even Point: $10,000/$100 = 100 units - Profit: (Unit Sales $150) - (Unit Sales * $50) - $10,000 We can plot these values on a graph with unit sales on the x-axis and revenue, costs, and profit on the y-axis.
4. Complete the following schedule: Quantity 0 1 2 3 4 5 6 7 Total Cost $9 $12 $16 $21 $30 $40 $52 $6 ATC MC Assuming the price of this product is $12, at what output is (a) Total profit maximized (b) Total revenue maximized (c) Profit per unit maximized
Based on the table, what price does John's Tricycle Company charge for a tricycle?
Table 1 Change in profit (£) Profit Marginal Output (Units) (오) Total Marginal cost (£) Total Revenue cost (£) (오) revenue (오) 3 1 6 2 12 8 3 18 12 4 24 17 30 23 36 30 7 42 38 8 48 47
Table 2- The following table presents cost and revenue information for John's Vineyard.- COSTS- REVENUES Marginal Cost Quantity Total Quantity Total Marginal Produced- Cost Demanded Price Revenne Revenne- 0. 0. 0. 80. 1. 50 1. 80. 2. 102- 2. 80- 3. 157. 3. 80 4- 217. 4. 80- 5. 285 5. 80. 6. 365. 6. 80. 7. 462 7. 80- 8. 582. 8. 80. Refer to Table 2. At what quantity does John's Viney ard maximize profits? A 3 B C 7 D 8. CO

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