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 a. b. с.

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
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Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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answers for question 10,11,12 and 13

Marginal Cost
Total Revenue
Marginal
Revenue
Quantity
Total Cost
Price
$5.00
$3.25
1
$5.50
$3.25
$6.50
$3.25
$8.00
$3.25
4
$10.00
$3.25
5
$12.50
$3.25
6.
$15.50
$3.25
7
$19.00
$3.25
$23.00
$3.25
7.
Refer to Table 14-14. What is Bob's total fixed cost?
$0
$3
$5
$9
a.
b.
с.
d.
8.
Refer to Table 14-14. What is the total revenue from selling 5 units?
$2.50
$3.25
$12.50
$16.25
a.
b.
с.
d.
Refer to Table 14-14. What is the marginal revenue of the 4th unit?
$2.00
$3.25
9.
a.
b.
с.
$10.00
d.
$13.00
10.
Refer to Table 14-14. At what quantity will Bob maximize his profit?
5 units
a.
b.
6 units
7 units
8 units
с.
d.
11.
Refer to Table 14-14. When Bob produces and sells the profit-maximizing quantity, how much profit
does he earn?
a.
$0.25
b.
$2.75
$4.00
$5.25
с.
d.
12.
Refer to Table 14-14. Suppose that due to a decrease in the market demand for bread the market
price of bread drops to $2.75 per loaf. At this new price, what is Bob's profit-maximizing quantity?
5 units
6 units
7 units
a.
b.
с.
d.
8 units
Transcribed Image Text:Marginal Cost Total Revenue Marginal Revenue Quantity Total Cost Price $5.00 $3.25 1 $5.50 $3.25 $6.50 $3.25 $8.00 $3.25 4 $10.00 $3.25 5 $12.50 $3.25 6. $15.50 $3.25 7 $19.00 $3.25 $23.00 $3.25 7. Refer to Table 14-14. What is Bob's total fixed cost? $0 $3 $5 $9 a. b. с. d. 8. Refer to Table 14-14. What is the total revenue from selling 5 units? $2.50 $3.25 $12.50 $16.25 a. b. с. d. Refer to Table 14-14. What is the marginal revenue of the 4th unit? $2.00 $3.25 9. a. b. с. $10.00 d. $13.00 10. Refer to Table 14-14. At what quantity will Bob maximize his profit? 5 units a. b. 6 units 7 units 8 units с. d. 11. Refer to Table 14-14. When Bob produces and sells the profit-maximizing quantity, how much profit does he earn? a. $0.25 b. $2.75 $4.00 $5.25 с. d. 12. Refer to Table 14-14. Suppose that due to a decrease in the market demand for bread the market price of bread drops to $2.75 per loaf. At this new price, what is Bob's profit-maximizing quantity? 5 units 6 units 7 units a. 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, how
much profit will he earn?
Refer to Table 14-14. Suppose that due to a decrease in the market demand for bread the market price
a.
$0.25
b.
$1.25
с.
$2.25
d.
The firm will lose $6.25.
Transcribed Image Text:13. of bread drops to $2.75. At this new price, if Bob produces and sells the profit-maximizing quantity, how much profit will he earn? Refer to Table 14-14. Suppose that due to a decrease in the market demand for bread the market price a. $0.25 b. $1.25 с. $2.25 d. The firm will lose $6.25.
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