2. The relationship between marginal and average costsSuppose Antonio is a professional basketball player, and his game log for free throws can be summarized in the following table.Complete the following table by calculating Antonio's free throw percentage for each game and his overall free throw average.Game Free Throw Percentage Average Free Throw Percentage(Percent)(Percent)8080Game Game Result Total14/526/107/148/1612/20N M34In4/52/51/41/24/4 Plot the results for each game and Antonio's overall average free throw percentage after each game on the following graph. Use the orange points(square symbol) to plot his result for each game. Use the green points (triangle symbol) to plot Antonio's overall average.Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.FREE THROW PERCENTAGE1009080706050403020100012GAMEOAntonio's result for each gameAntonio's overall averageYou can think of the result in any one game as being Antonio's "marginal free throw percentage." Based on your previous answer, you can deduce thatwhen Antonio's marginal free throw percentage is above the average, the average must be

Average costs refer to the per unit cost.Marginal costs refer to the additional cost incurred in…

2. The relationship between marginal and average costs Suppose Antonio is a professional basketball player, and his game log for free throws can be summarized in the following table. Complete the following table by calculating Antonio's free throw percentage for each game and his overall free throw average. Game Free Throw Percentage Average Free Throw Percentage (Percent) (Percent) 80 80 Game Game Result Total 1 4/5 6/10 7/14 8/16 12/20 2 3 4 in 4/5 2/5 1/4 1/2 4/4

2. The relationship between marginal and average costs Suppose Antonio is a professional basketball player, and his game log for free throws can be summarized in the following table. Complete the following table by calculating Antonio's free throw percentage for each game and his overall free throw average. Game Free Throw Percentage Average Free Throw Percentage (Percent) (Percent) 80 80 Game Game Result Total 1 4/5 6/10 7/14 8/16 12/20 2 3 4 in 4/5 2/5 1/4 1/2 4/4

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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[Appendix material: calculus required) Suppose total benefits and total costs are given by B(Y)-220Y-15Y2 and C(Y) - 10Y. What level of Y will yield the maximum net benefits? Multiple Choice 10/9 5
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8. Questions and Problems 16 People often argue that large firms in an industry have cost advantages over small firms in the same industry. For example, they might assert that a big oil company must have a cost advantage over a small oil company. For this to be true, what condition must exist? O There are no economies of scale. There is no necessary condition for large firms to have a cost advantage over small firms. There are economies of scale, and the small firm is operating at an output level at which economies of scale exist. O There are economies of scale, and the large firm is operating at an output level at which economies of scale exist.
What will be the average cost per ton for the 30 tons? Instructions: Round your answer to 2 decimal places. $ c. Suppose that Eric and Kyle can both sell whatever amount of fish they catch for $3,000 per ton. Also suppose that Eric is initially given ITQS (individual transferable quotas) for 30 tons of fish, while Kyle is given ITQS for zero tons of fish. Suppose that Kyle is willing to pay Eric $550 per ton for as many tons of ITQS as Eric is willing to sell to Kyle. How much profit would Eric make if he used all the ITQS himself? What is the profit situation if Eric sold 25 tons' worth of his ITQS to Kyle while using the other 5 tons of ITQS to fish for himself? d. What price per ton can Kyle offer to pay Eric for his 25 tons of ITQS such that Eric will make exactly as much money from that deal (in which he sells 25 tons' worth of ITQS to Kyle while using the rest to fish for himself) as he would by using all 30 tons of ITQS for himself? per ton of ITQS
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3. Consider the delivery of mail. In general, what is the shape of the average total cost curve? How might the shape differ between isolated rural areas and densely populated urban areas? How might the shape have changed over time? Explain.
22.21 Explain the economic impact of the trend shown in Fig. 22.6.
Cindy Jo's Hair Salon is concerned about its rising costs of supplies, energy, and labor, so it is considering investing in better equipment, which hopefully will reduce the time required to perform most hairstyles as well as result in better perceived quality by its customers. It predicts that the added investment will increase output levels as well as reduce energy costs, since some of the new equipment (hair dryers) use less electricity. Inputs and Outputs Hairstyles per week Labor costs per week Energy costs per week Material costs per week Capital investment Using the given information, determine the current and expected single-factor and total productivity measures. Do not round intermediate calculations. Round your answers to three decimal places. Productivity Current (this year) % haircuts/dollar haircuts/dollar haircuts/dollar * haircuts/dollar Expected (next year) X Labor Energy Material Total What is the percentage change in total productivity? Do not round intermediate…
1. Graphically depict how the number of wins a team will have depends on whether it decides to maximize wins or maximize profits. You should have two curves on your graph, Total Revenue (TR), and Total Costs (TC). Make sure to label the axes and explain your graph.
7. Advertising and Corporate Clusters Consider corporations that use advertising firms to develop marketing campaigns. Each corporation buys one campaign per year, and the cost per campaign is $120?n, where n ? the number of corporations in the cluster (and campaigns per year). The cost of labor per firm is $30 ? n. A corporation’s profit equals its total revenue of $200 minus the sum of its marketing and labor costs. There are two location options: an isolated site (n ? 1) or a cluster with up to five corporations. Use a graph like Figure 3–2 to show the profit gap (profit in cluster − profit in isolation) for one through five corporations. If initially all corporations are isolated and then one joins another to form a two-corporation cluster, other firms [will, won’t] have an incentive to join the cluster because.... In the long-run equilibrium, there will be a cluster of corporations, each of which will earn a profit of , differing from the profit of an isolated site by
Please provide a correct answer the problem. Attached is the image of the question. Thank you!