3002505720015010050-05. Average Fixed Cost at Q=10 isO (a) $900Q0 2 4 6 8 10 12 14 16 18 20O (b) $10O (c) $40O (d) $9O (e) $14TCType here to searchTVCBTFC30225201510569Click Save and Submit to save and submit. Click Save All Answers to save all answers.0-0 2 4 6 8 10 12 14 16 18 20Save All AnswersMCACAVCHAFCSave and SubmitQDELL

The cost curve in economics is a function of the total quantity produced in an economy. The firm…

300 $ 250 200 150 100 50 05. Average Fixed Cost at Q-10 is TC O (a) $90 O (b) $10 O (c) $40 O (d) $9 O (0) $14 TVC 0 Q 0 2 4 6 8 10 12 14 16 18 20 TFC 30 25 20 15 10 5 $ 0 0 2 4 6 8 10 12 14 16 18 20 MC AC AVC AFC Q

300 $ 250 200 150 100 50 05. Average Fixed Cost at Q-10 is TC O (a) $90 O (b) $10 O (c) $40 O (d) $9 O (0) $14 TVC 0 Q 0 2 4 6 8 10 12 14 16 18 20 TFC 30 25 20 15 10 5 $ 0 0 2 4 6 8 10 12 14 16 18 20 MC AC AVC AFC Q

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Cost of Production

In economic theory, production costs are the costs incurred by an industrial organization when it engineers a project or provides a service that generates revenue and benefits. Labor costs, raw materials, consumable manufacturing costs, and general overhead sum up, accounting for production costs. Total cost data is calculated by combining total direct costs of materials, labor costs, and total production costs.

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05. Average Fixed Cost at Q=10 is
O (a) $90
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O (b) $10
O (c) $40
O (d) $9
O (e) $14
TC
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B
TFC
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5
69
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Q Total Cost ATC AFC MC 0 10 - - - 10 12 12/10=1.2 10/10=1 12-10/10-0=0.2 20 16 16/20=0.8 10/20=0.5 16-12/20-10=0.4 30 26 26/30=0.867 10/30=0.333 26-16/30-20=1 40 38 38/40=0.95 10/40=0.25 38-26/40-30=1.2 50 75 75/50=1.2 10/50=0.2 75-38/50-40=3.7 60 120 120/60=2 10/60=0.167 120-75/60-50=4.5 If the market price is $1.00 then what output or q (in the units of 10) is the most profitable production level?
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15 x+1160 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 16 Suppose a company has fixed costs of $4000 and variable costs per unit of 1. 1300 x dollars per unit. 16 (a) Find the break-even points. (Enter your answers as a comma-separated list.) (b) Find the maximum revenue. $. (c) Form the profit function P(x) from the cost and revenue functions. P(x) = %3D Find the maximum profit. $4 (d) What price will maximize the profit? (Round your answer to the nearest cent.) %$4 Need Help? Read It Watch It