| bartlebyExercise (Structured Questions)G bought goods on credit from lab XU3MTUZMjk4/a/MJM4NDI3MTA5MJYY/details4. Rasiah's Garden of fruit is a firm selling fruits in a perfectly competitive market. Totalfixed cost is RM50, and the wage for labour is RM5 per worker. The estimated outputproduced and cost are as follows:LabourOutput (Kgof fruits)usage0.8.10122017302440335044605770a Calculate the total variable cost, average total cost, average variable cost,marginal cost, total revenue and marginal revenue.b. If Rasiah's garden of Fruits sells a kilo of fruit for RM3.50, how many Kg offruit (output) should the firm sell in order to maximise profits, and how muchprofits would the firm make?工

Firm in perfect competition is a price taker. It produces profit maximizing output where marginal…

4. Rasiah's Garden of fruit is a firm selling fruits in a perfectly competitive market. Total fixed cost is RM50, and the wage for labour is RM5 per worker. The estimated output produced and cost are as follows: Labour Output (Kg of fruits) usage 0. 0. 8. 10 12 20 17 30 24 40 33 50 44 60 57 70 Calculate the total variable cost, average total cost, average variable cost, marginal cost, total revenue and marginal revenue. b. If Rasiah's garden of Fruits sells a kilo of fruit for RM3.50, how many Kg of fruit (output) should the firm sell in order to maximise profits, and how much profits would the firm make? a.

4. Rasiah's Garden of fruit is a firm selling fruits in a perfectly competitive market. Total fixed cost is RM50, and the wage for labour is RM5 per worker. The estimated output produced and cost are as follows: Labour Output (Kg of fruits) usage 0. 0. 8. 10 12 20 17 30 24 40 33 50 44 60 57 70 Calculate the total variable cost, average total cost, average variable cost, marginal cost, total revenue and marginal revenue. b. If Rasiah's garden of Fruits sells a kilo of fruit for RM3.50, how many Kg of fruit (output) should the firm sell in order to maximise profits, and how much profits would the firm make? a.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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