12 Precast Pools, Inc. sells their product for $3,000 each. At a volume of 20 units, their labor, materials, overhead, and other costs total $60,000, and at a volume of 40 units, the total is $80,000. (a) What is your best estimate of the variable cost per unit? (b) Estimate the fixed costs. (c) At what volume does the firm break even? (d) Estimate the profit at a volume of 60 units.

12 Precast Pools, Inc. sells their product for $3,000 each. At a volume of 20 units, their labor, materials, overhead, and other costs total $60,000, and at a volume of 40 units, the total is $80,000. (a) What is your best estimate of the variable cost per unit? (b) Estimate the fixed costs. (c) At what volume does the firm break even? (d) Estimate the profit at a volume of 60 units.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Question 56 Q TFC ($) TVC ($) MC($) MR($) TR($) TC(S) Profit ($) A 1 15 30 2 25 D 55 75 4 B 45 160 F 6 260 The table above represents a perfectly competitive, profit maximizing firm. Use the table above to answer the question below. What is the value of cell D? Please only type a number for your answer.
b. Calculate Theo's accounting profit
5
Solve within 1 hour to upvote
Explain using diagrams, the law of diminishing returns What is the difference between Economic Profit and Accounting Profit? Which is better to use in business analysis? At what point would a firm shut down its operations Define using diagrams Economies of Scale, Diseconomies of Scale, Constant Returns to scale
I DO NOT NEED THE TABLE INSTEAD I NEED THE ANSWERS TO THE QUESTIONS BELOW Quantity of Output Total Variable Cost Total Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 1 $20 2 $35 3 $45 4 $60 5 $80 6 $105 7 $140 8 $185 9 $250 10 $340 Imagine yourself running a pizza restaurant over a short term horizon. Think about the following potential changes in your costs. For each, try to discern which would affect your fixed costs from those that are variable costs. Specifically, how would each scenario shift your Average Variable Cost, Marginal Cost, and Average Total Cost curves? Explain your answers. The wages of hourly workers increase The cost of cheese increases The rent on the building housing your restaurant increases The price of gasoline (for pizza delivery) decreases
Don't post chat gpt answers
People usually interchange "brand" and "product" in their daily conversation. As a marketing professional, discuss the difference between a brand and a product. Use appropriate examples from both service and non-service sector.
Q. 1 because of lack of global competition, Halyard health is currently operating at 100% capacity. This suggests that…
Costs and Profit Maximization: Work It Out 1 Suppose Margie decides to lease a photocopier and open up a black-and-white photocopying service in her dorm room for use by faculty and students. Her total cost, as a function of the number of copies she produces per month, is given in the table. Number of Photocopies Per Month Total Cost Fixed Cost Variable Cost Total Revenue Profit 0 $100 1,000 $110 2,000 $125 3,000 $145 4,000 $175 5,000 $215 6,000 $285 a. Fill in the missing numbers in the table, assuming that Margie can charge 6 cents per black-and-white copy. Margie's fixed cost is: $ Variable cost, 0 photocopies/month: $ Variable cost, 1,000 photocopies/month: $ Variable cost, 2,000 photocopies/month: $ Variable cost, 3,000 photocopies/month: $ Variable cost, 4,000 photocopies/month: $…
how does "Economic Profit" differs from the measurement of profit in other fields such as Accounting. How are costs measured in Economics?
Using the following table construct the cost schedule for a firm operating in the short run Graph the average variable cost, average total cost and marginal cost curves. Quantity- Production (thousands) Total Fixed cost Total Variable cost Total Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 0 $400 0 $400 --- --- ---- ---- 1 $640 2 $720 3 $780 4 $820 5 $850 6 $890 7 $980 8 $1200…