18. The WipeOut Ski Rental Manufacturing company makes skis for beginners.The fixed costs are $30. Fill in the following table for total cost, average variablecost, average total cost and marginal cost and answer the corresponding threerelated questions.Quantity Variable FixedCostCost01234560$10$25$45$70$100$135$30$30$30$30$30$30$30TotalCosta. Q*=2; profit = $16b. Q = 0; Profit=- $30c. Q = 4; Profit = 0d. Q=2; profit=-$25e. None of the aboveAverage Average MarginalVariable Total CostCostCostIf the price in the perfectly competitive market is $25, what is the profitmaximizing output and profits?

In the perfectly competitive market, firm produces where the P=MC. Firm can makes supernormal profit…

18. The WipeOut Ski Rental Manufacturing company makes skis for beginners. The fixed costs are $30. Fill in the following table for total cost, average variable cost, average total cost and marginal cost and answer the corresponding three related questions. Quantity Variable Fixed Total Cost Cost Cost 0 1 2 3 0 $10 $25 $45 $30 $30 $30 $30 Average Variable Cost Average Marginal Total Cost Cost

18. The WipeOut Ski Rental Manufacturing company makes skis for beginners. The fixed costs are $30. Fill in the following table for total cost, average variable cost, average total cost and marginal cost and answer the corresponding three related questions. Quantity Variable Fixed Total Cost Cost Cost 0 1 2 3 0 $10 $25 $45 $30 $30 $30 $30 Average Variable Cost Average Marginal Total Cost Cost

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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