9. Firm's Cost ScheduleJane's Juice Bar has the following cost schedules:In the following table, complete the marginal cost, average variable cost, and average total cost columns.Average Total Cost(Dollars)QuantityVariable CostTotal CostMarginal CostAverage Variable Cost(Vats of juice)(Dollars)(Dollars)(Dollars)(Dollars)301352154533060450805751056105135 On the following graph, use the orange points (square symbol) to plot the marginal-cost curve for Jane's Juice Bar. (Note: Be sure to plot from left toright and to plot between integers. For example, if the marginal cost of increasing production from 1 vat of juice to 2 vats of juice is $5, then youwould plot a point at (1.5, 5).) Then use the purple points (diamond symbol) to plot the average-variable cost curve starting at 1 vat of juice, and usethe green points (triangle symbol) to plot the average-total-cost curve also starting at 1 vat of juice.4035Marginal Cost3025Average Variable Cost2015Average Total Cost1012346Quantity (Vats of juice)Which of the following statements are true according to the previous graph? Check all that apply.O The marginal-cost curve lies below the average-variable-cost curve.O The marginal-cost curve is above the average-total-cost curve when output is greater than four and average total cost is rising.O The marginal-cost curve is below the average-total-cost curve when output is greater than four and average total cost is rising.Costs

1. Marginal cost = Change in costs / Change in quantity 2. Average Variable Cost = Variable…

9. Firm's Cost Schedule Jane's Juice Bar has the following cost schedules: In the following table, complete the marginal cost, average variable cost, and average total cost columns. Quantity Variable Cost Total Cost Average Variable Cost Average Total Cost (Dollars) Marginal Cost (Vats of juice) (Dollars) (Dollars) (Dollars) (Dollars) 30 1 5 35 2 15 45 3 30 60 4 50 80 5 75 105 105 135

9. Firm's Cost Schedule Jane's Juice Bar has the following cost schedules: In the following table, complete the marginal cost, average variable cost, and average total cost columns. Quantity Variable Cost Total Cost Average Variable Cost Average Total Cost (Dollars) Marginal Cost (Vats of juice) (Dollars) (Dollars) (Dollars) (Dollars) 30 1 5 35 2 15 45 3 30 60 4 50 80 5 75 105 105 135

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

4. Use the information in the following graph to find the values for the following at an output level of 1000: Cost (per unit) $30 20 15 3. b. C. d. Marginal cost Total cost 1000 Variable cost Fixed cost MC ATC AVC Quantity of output
Moonbucks has the following cost schedules: Quantity (bottle) Variable Cost (RM) Total Cost (RM) 0 0 100 1 90 190 2 170 270 3 240 340 4 300 400 5 370 470 6 450 550 7 540 640 8 650 750 9 780 880 10 930 1030 Calculate average variable cost, average total cost, and marginal cost for each quantity.
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?
The table below shows cost data for producing different amounts of cleaning products. Use the given information to find the Average Variable Cost. Quantity Total Cost Average Variable Cost 11 1 2 فيا 4 5 28 46 60 65 68 4. 4. 1.
15 3. Jane's Juice Bar has the following cost schedules: Quantity 0 vats of juice $0 1 10 12 25 3 45 4 70 100 135 10 1 12 13 14 15 Variable cost Total cost $30 40 55 75 100 130 165 Calculate average variable cost, average total cost, and marginal cost for each quantity. Put these numbers in the table below. Quantity Average variable cost Average total cost Marginal cost a. b. Graph all three curves (average variable cost, average total cost and marginal cost) using Excel or a piece of grid paper. Attach the graph to this assignment. What is the relationship between the marginal-cost curve and the average total cost curve? Between the marginal cost curve and the average variable cost curve? Explain
m 2 - Chapters 7-10 OPEN The table below shows cost data for producing different amounts of sofas. Use the given information to find the missing cost data. Quantity O 1 2 3 4 10 Total Cost in $ 60 75 104 281 DE G Average Fixed Cost in $ Average Variable Cost in $ a hp 30 IC 12 A 15 11.5 14.0000000000007 24 Marginal Cost in $ 52 125 15 I am finished 4:00 PM 74°F ^ ® # 10₁ 10/30/2022 A
1:27 Ces A firm's output, variable costs, and total costs are given in the table below. Instructions: Enter your answers as a whole number. a. Calculate marginal cost using the formula given in the chapter: ATotal cost/AQuantity. Quantity 10 20 30 50 Quantity 0 10 20 30 40 Variable cost ($) b. Calculate AVariable cost/AQuantity. 50 50 120 200 300 420 Variable cost 50 120 200 300 Total cost ($) 420 100 150 220 300 400 520 Total cost ($) 100 150 220 300 400 520 Marginal cost ($) AVariable cost ($)/ AQuantity
Pick the proper graph illustrating the cost curves for a typical firm. 01 02 1 cost 2 cost None of the Above Mont Sai MC ATC AFC -AVC quantity MC ATC AFC -AVC quantity 3 cost 4 cost MC ATC MC AVC AFC quantity ATC AVC AFC quantity
Calculate the marginal cost, marginal revenue and profit for each unit of production? How many units should the firm produce to maximise profit? Describe the relationship between the marginal product and the total product of a firm? Marginal Cost Total Revenue Marginal Revenue Profit 0 100 190 300 450 500 505 308 Quantity Total Cost Marginal Cost 0 15 1 30 2 48 3 59 4 68 5 74 6 79 7 81
Costs and Profit Maximization: Work It Out 1 Suppose Margie decides to lease a photocopier and open up a black-and-white photocopying service in her dorm room for use by faculty and students. Her total cost, as a function of the number of copies she produces per month, is given in the table. Number of Photocopies Per Month Total Cost Fixed Cost Variable Cost Total Revenue Profit 0 $100 1,000 $110 2,000 $125 3,000 $145 4,000 $175 5,000 $215 6,000 $285 a. Fill in the missing numbers in the table, assuming that Margie can charge 6 cents per black-and-white copy. Margie's fixed cost is: $ Variable cost, 0 photocopies/month: $ Variable cost, 1,000 photocopies/month: $ Variable cost, 2,000 photocopies/month: $ Variable cost, 3,000 photocopies/month: $ Variable cost, 4,000 photocopies/month: $…
9. The table below shows cost data for producing different amounts of desks. Use the given information to find the Variable Cost for each quantity. Quantity Total Cost in $ Variable Cost in $ 0 1 2 3 4 5 70 88 106 159 262 524 94
Using the following table construct the cost schedule for a firm operating in the short run Graph the average variable cost, average total cost and marginal cost curves. Quantity- Production (thousands) Total Fixed cost Total Variable cost Total Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 0 $400 0 $400 --- --- ---- ---- 1 $640 2 $720 3 $780 4 $820 5 $850 6 $890 7 $980 8 $1200…