A firm faces the following table of costs for various levels of production, if they can sell theirproduct forAverage Fixed Cost Average Variable Cost Average Total Cost Marginal CostQ01092.0011.002.00303.001.004.000.50452.001.113.111.33551.641.292.932.10If the firm can sell their product for $1.33 they will [Select]short-run and [Select]Vin the long run.in the

1- Continue the production At price of 1.33 , the output produced will be 45 units because at this…

Answered: A firm faces the following table of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose a firm's total cost and marginal cost are given by TC= 200 + 100+90 and MC = 10 + 180. The output level that minimizes average total cost is 18 22.22 10 20 0000
Douglas Fur is a small manufacturer of fake-fur boots in San Diego. The following table shows the company’s total cost of production at various production quantities. On the following graph, plot Douglas Fur’s average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $210, so you should start your ATC curve by placing a green point at (1, 210). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of boots is $90, so you should start your MC curve by placing an orange square at (0.5, 90).) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
Given the following table: OUTPUT TOTAL COST 0 1 2 3 4 5 6 SAENASS 59 67 74 80 87 95 Part 1: The TVC of producing 4 units of output is Number Part 2: The AFC of producing 6 units of output is: Number Part 3: The marginal cost of producing the fifth unit of output is: Number Part 4: The ATC of producing 5 units of output is: Number
define total fixed costs
A cookie company can produce 500 cases of chocolate chip cookies a week at a total cost of $3,000 and 750 cases of chocolate chip cookies at $4250. Find the manufacturer's weekly fixed costs and marginal cost per case of chocolate chip cookies. Assume the marginal cost is constant.
4 parts pls
The company AffordableStuff sells cell phones. The marginal cost for each cell phone is given by the equation C(x) = 0.01x² – 3x + 229. a is the number of cell phones manufactured and sold. The marginal revenue function is R(x) = 429 – 2.x. Both C(x) and R(x) are given in dollars. a) Where do these curves intersect? What do those intersection points mean? b) Find the area between the curves, using end points that make sense. Round to the nearest cent. c) What does the area under the curve mean in this case?
Consider an airline's decision about whether to cancel a particular flight that hasn't sold out. The following table provides data on the total cost of operating a 100-seat plane for various numbers of passengers. Total Cost Number of Passengers (Dollars per flight) 40,000 10 60,000 20 65,000 30 68,000 40 70,000 50 71,000 60 72,500 70 73,500 80 74,000 90 74,300 100 74,500 Given the information presented in the previous table, the fixed cost to operate this flight is s At each ticket price, a different number of consumers will be willing to purchase tickets for this flight. Assume that the price of a flight is fixed for the duration of ticket sales. Use the previous table as well as the following demand schedule to complete the questions that follow. Price Quantity Demanded (Dollars per ticket) (Tickets per flight) 1,000 700 30 400 90 200 100
Suppose you own an acre of land. You could grow crops on that land. The cost of seeds is $100. The crops you grow from those seeds will sell for $350. You could also rent the land to another farmer. The rent you could eam is $300. Calculate your economic profit. (Do not include a $ sign in your answer.) Answer: Suppose the total cost function for a firm is given by: TC= 100 + 2q +0.5q2. Find the marginal cost function and then use that to determine the marginal cost of the 10th unit. (Do not include a $ sign in your response.) # Answer:
Handwriting solution Not required...
The table shows three short-run cost schedules for three plants of different sizes that a firm might build in the long run. Plant 1 Plant 2 Plant 3 Output ATC Output ATC Output ATC 10 $ 10 10 $ 15 10 $ 20 20 9 20 10 20 15 30 8 30 7 30 10 40 9 40 10 40 8 50 10 50 14 50 9 What is the long-run average cost of producing 10 units of output? Multiple Choice $10 $15 $20 $45
Question 1 Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to "Calculate," you must show how you arrived at your final answer. Quantity of Output Total Cost $12 1 $14 2 $18 $24 4 $32 5 $42 6 $54 7 $68 The table above shows the total cost function for a typical firm producing hats in a perfectly competitive market. The market price for hats is $9 per hat. (a) Calculate the average variable cost of the fifth unit. Show your work. (b) What is the firm's profit-maximizing quantity of hats? Explain using marginal analysis. (c) Draw a correctly labeled graph showing the firm's demand and marginal cost curves, and show the profit-maximizing quantity of hats determined in part (b). (d) If the rent of the building the firm occupies increases, what will happen to the firm's profit-maximizing quantity of output in the short…

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