3. The following information relates to a manufacturing company. Total fixed cost $10 000 Total cost $50 000 Output 100 units Determine the average variable cost 4. The table below shows production costs of three units of a product. Total Cost Units Total Fixed Marginal Cost Cost 100 25 125 130 60 .complete the table

3. The following information relates to a manufacturing company. Total fixed cost $10 000 Total cost $50 000 Output 100 units Determine the average variable cost 4. The table below shows production costs of three units of a product. Total Cost Units Total Fixed Marginal Cost Cost 100 25 125 130 60 .complete the table

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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he table below shows the cost of production for Coca-cola 200 ml. please answer the table and explain and graph Output Variable Cost Fixed cost Total Cost Marginal Cost Average Variable Cost Average Fixed Cost Average Total Cost 0 0 9 1 694 9 2 833 9 3 1018 9 4 1157 9
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mework 6 i 1 Saved nics Game Obituary Project Help Save & Exit Submit a. Complete the following cost schedule by computing marginal cost, average fixed cost, average variable cost, and average total cost. Instructions: Round your responses to the nearest whole number. Rate of nts Total Cost Output Marginal Cost Average Average Average Fixed Cost Variable Cost Total Cost 0 $600 Print 1 800 2 1,050 3 1,400 4 5 1,800 2,300 Mc Graw Hill b. Use the cost data to plot the average total cost (ATC) and marginal cost (MC) curves on a graph. Instructions: Use the tools provided 'ATC' and 'MC' to draw each curve point by point (plot 5 points total for each curve). Round your points for ATC up to the nearest $25. Q Search Prev 1 of 4 Next > 3/
2. Mr. Jack is in the process of expanding his manufacturing business. He decided to open a plant in the coming year. He has four locations in mind. The costs information for these locations is in the following table. Locations A B C D Fixed Cost 60,000 80,000 100,000 130,000 Variable Costs/units 30 20 15 10 a. i. Write an equation to represent the total costs for each location.ii. Draw the total costs lines for each location on the same axes. (Use output ranges of 2000, 4000, 6000, 8000 etc. and intervals of $50,000 on the Y axis. iii. Over what range of output is location A the most preferred location?iv. Over what range of output is location B the most preferred location?v. Over what range of output is location C the most preferred location?
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 Cost Cost 0 1 2 3 4 5 6 0 $10 $25 $45 $70 $100 $135 $30 $30 $30 $30 $30 $30 $30 Total Cost a. Q*=2; profit = $16 b. Q = 0; Profit=- $30 c. Q = 4; Profit = 0 d. Q=2; profit=-$25 e. None of the above Average Average Marginal Variable Total Cost Cost Cost If the price in the perfectly competitive market is $25, what is the profit maximizing output and profits?
Figure: Short-Run Costs Cost curves (dollars) $200 150 100 50 total cost F: 0 1 2 3 D average total cost average variable cost marginal cost A 4 C Please, look at the above figure, which represents short run costs curves. Curve A represents the curve. B 5 6 7 8 9 10 11 Quantity of output (per day)
es Output 6 1 2 3 4 5 S 6 17 8 9 Total Cost $ 2,500 3,416 4,040 4.480 4,900 5,220 5,540 6,310 7,328 9,718 2500 Total Variable Cost b. What is the value of total fixed cost? 6 units $ 0 units 910 1540 1980 2400 2720 3040 3810 4820 7210 Marginal Cost c. What is the most productive level of output? $ 910 630 440 420 320 320 770 1010 2390 Average Total Cost $ d. At what output is economic capacity? Output: e. If TFC doubled, what is the marginal cost of the 7th unit? 3410 2020 1493.33 1225 1044 923.33 901.42 915 1078.89 Average Variable Cost $ 910 770 660 600 544 506.67 544 29 6025 801.11 Average Fixed Cost 2500 1250 833.33 625 500 416.67 35713 312.5 27778