Text Problem 2.5cA firm's cost curves are given in the following table.TFCTVCAVC50050150501805050509012345678910TC502002302502602803103504005050505050460530Suppose market price is $40.The firm will produce200210230260-ATC-150.00200.0090.00 115.0066.6783.3352.5065.0046.00 56.0043.3351.67300 42.86350 43.75410 45.56480 48.00 53.0050.0050.0051.11MC-150302010203040506070units of output in the short run. (Enter your response as a whole number.)

In perfect competition, There exists a large number of buyers and sellers. The firm will produce…

A firm's cost curves are given in the following table. TFC TVC AVC 50 0 50 150 150.00 200.00 50 180 90.00 115.00 50 200 66.67 83.33 210 52.50 65.00 230 46.00 56.00 260 43.33 300 42.86 350 43.75 50.00 410 45.56 51.11 480 48.00 53.00 TC 50 200 230 250 260 280 310 350 400 460 530 Suppose market price is $40. The firm will produce units of output in the short run. (Enter your response as a whole number.) 9 0 1 2 3 4 5 6 7 8 9 10 50 50 50 50 50 50 50 ATC - - 51.67 50.00 MC 150 30 20 10 20 30 40 50 60 70

A firm's cost curves are given in the following table. TFC TVC AVC 50 0 50 150 150.00 200.00 50 180 90.00 115.00 50 200 66.67 83.33 210 52.50 65.00 230 46.00 56.00 260 43.33 300 42.86 350 43.75 50.00 410 45.56 51.11 480 48.00 53.00 TC 50 200 230 250 260 280 310 350 400 460 530 Suppose market price is $40. The firm will produce units of output in the short run. (Enter your response as a whole number.) 9 0 1 2 3 4 5 6 7 8 9 10 50 50 50 50 50 50 50 ATC - - 51.67 50.00 MC 150 30 20 10 20 30 40 50 60 70

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Consider the following table Output Total Cost 105 125 140 3. 180 4 240 320 The fixed cost is given by 50 O 105 208 100 2.
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Assume the following cost data are for a purely competitive producer Total Product AFC AVC ATC MC 0 1 $60 $45 $105 $45 2 $30 $42.50 $72.50 $40 3 $20 $40 $60 $35 4 $15 $37.50 $52.50 $30 5 $12 $37 $49 $35 6 $10 $37.50 $47.50 $40 7 $8.57 $38.57 $47.14 $45 8 $7.50 $40.63 $48.13 $55 9 $6.67 $43.33 $50 $65 10 $6.00 $46.50 $52.50 $75 In the table below, complete the short run supply schedule for the firm (columns 1 and 2) and indicate the profit or loss incurred at each output (column 3) 1 2 3 4 Price Quantity supplied, single firm Profit (+) or loss (-) Quantity supplied, 1500 firms $26 $32 $38 $41 $46 $56 $66
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Dylan's house-cleaning enterprise is a competitive firm. Dylan cleans houses for 39 € cach. His total cost ach day is 380€, of which 30€ is a fixed cost. He cleans 10 houses a day. What can you say about Dvlan's short-run decision regarding shut down and his long-run decision regarding exit.
the figure below, $/Q 174 125 118 80 m 59 MC AVC ATC n 48 40 28 u Q₂ Q3 Q4 Q5 O total variable cost at Q₂ units of output is represented by the area absv (i.e., TVC(Q)area absv) and total fixed cost at Q₂ units of output is represented by the area vsQ₂0 (i.e., TFC(Qs) - area vsQ₂0). total variable cost at Q3 units of output is represented by the area ruQ,0 (i.e., TVC(Q)- area ruQ,0) and total fixed cost at Qs units of output is represented by the area zfnk (i.e., TFC(Qs) - area zfnk). O total cost at Q4 units of output is represented by the area adQ40 (.e., TC(Q) - area adQ40) and total fixed cost at Q4 units of output is represented by the area adgi (i.e.. TFC(Q4) - area adgi). O total variable cost at Q₂ units of output is represented by the area absv (i.e., TVC(Q)- area absv) and total fixed cost at Q₂ units of output is represented by the area vsQ₂0 (ie.. TFC(Qs) - area vsQ,0). total variable cost at Q3 units of output is represented by the area zhQ₂0 (i.e., TVC(Q)area zhQ,0) and…