Answers for question 7,8,9,10,11,12 and 13 Marginal CostTotal RevenueMarginalRevenueQuantityTotal CostPrice$5.00$3.251$5.50$3.25$6.50$3.25$8.00$3.254$10.00$3.255$12.50$3.256.$15.50$3.257$19.00$3.25$23.00$3.257.Refer to Table 14-14. What is Bob's total fixed cost?$0$3$5$9a.b.с.d.8.Refer to Table 14-14. What is the total revenue from selling 5 units?$2.50$3.25$12.50$16.25a.b.с.d.Refer to Table 14-14. What is the marginal revenue of the 4th unit?$2.00$3.259.a.b.с.$10.00d.$13.0010.Refer to Table 14-14. At what quantity will Bob maximize his profit?5 unitsa.b.6 units7 units8 unitsс.d.11.Refer to Table 14-14. When Bob produces and sells the profit-maximizing quantity, how much profitdoes he earn?a.$0.25b.$2.75$4.00$5.25с.d.12.Refer to Table 14-14. Suppose that due to a decrease in the market demand for bread the marketprice of bread drops to $2.75 per loaf. At this new price, what is Bob's profit-maximizing quantity?5 units6 units7 unitsa.b.с.d.8 units 13.of bread drops to $2.75. At this new price, if Bob produces and sells the profit-maximizing quantity, howmuch profit will he earn?Refer to Table 14-14. Suppose that due to a decrease in the market demand for bread the market pricea.$0.25b.$1.25с.$2.25d.The firm will lose $6.25.

The total cost of production is composed of two components namely total fixed cost and total…

7. Refer to Table 14-14., What is Bob's total fixed cost? $0 $3 $5 $9 a. b. с. d. Refer to Table 14-14., What is the total revenue from selling 5 units? $2.50 $3.25 $12.50 $16.25 8. a. b. с. d. 9. Refer to Table 14-14. What is the marginal revenue of the 4th unit? $2.00 $3.25 $10.00 $13.00 a. b. с. d.

7. Refer to Table 14-14., What is Bob's total fixed cost? $0 $3 $5 $9 a. b. с. d. Refer to Table 14-14., What is the total revenue from selling 5 units? $2.50 $3.25 $12.50 $16.25 8. a. b. с. d. 9. Refer to Table 14-14. What is the marginal revenue of the 4th unit? $2.00 $3.25 $10.00 $13.00 a. b. с. d.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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