4 Assume that a purely competitive firm has the schedule of costs given in the table below.Output TFCTVCS500 $0 s 500TC150015065025002007003.50026076045003408405004509506.50059010907.50077012708.50010001500500129017901050016502150(a) Complete the table below to show the total revenue and total profit of the firm at each levelof output the firm might produce. Assume market prices of $50, SIS50, and $250.Market price = $50Market price - $150Market price - $250TotalProfit () orProfit () orTotal Profit (*) orloss (-)TotalOutput revenueloss (-)loss (-)revenuerevenue(b) Indicate what output the firm would produce and its profits in the following table.Quantity Profit (+)supplied or loss (-)$ 50Price150250

(a) When p=$50, TR=50*Q TC=Given Profit=TR-TC

Assume that a purely competitive firm has the schedule of costs given in the table below. Output TFC TVC TC $500 S 500 500 150 650 500 200 700 500 260 760 4 500 340 840 500 450 950 500 500 1090 500 770 1270 500 1000 1500 500 1290 1790 10 500 1650 2150 (a) Complete the table below to show the total revenue and total profit of the firm at each le of output the firm might produce. Assume market prices of $50, S150, and $250. Market price - 550 Market price - $150 Market price $250 Total Profit () or Output revenue loss (-) Total Profit (*) or Total loss (-) Profit (+) or loss (-) revenue revenue (b) Indicate what output the firm would produce and its profits in the following table. Quantity Profit (+) supplied or loss (-) Price $ 50 150 250

Assume that a purely competitive firm has the schedule of costs given in the table below. Output TFC TVC TC $500 S 500 500 150 650 500 200 700 500 260 760 4 500 340 840 500 450 950 500 500 1090 500 770 1270 500 1000 1500 500 1290 1790 10 500 1650 2150 (a) Complete the table below to show the total revenue and total profit of the firm at each le of output the firm might produce. Assume market prices of $50, S150, and $250. Market price - 550 Market price - $150 Market price $250 Total Profit () or Output revenue loss (-) Total Profit (*) or Total loss (-) Profit (+) or loss (-) revenue revenue (b) Indicate what output the firm would produce and its profits in the following table. Quantity Profit (+) supplied or loss (-) Price $ 50 150 250

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

A device that cost 50000 at the start of the year lose 10% of its value each year. find out how much a book is worth when is 10 years old
1.A property costs $1,000 today. If it is apreciating at a rate of 5%, calculate its price in 5 years.
7. Identify and describe the stages in the adoption process.
Shane teaches guitar lessons. The graph below shows the comparison of his expenses and revenue for one month. r ($) L -1000 000 -600 200 Number of Lessons Expenses Revenue How many lessons must he teach to break even?
1. Solve the following equations: 2. A firm charges a fixed price of £80 for each shirt sold. The firm has a total cost functi (a) x²-25=0 (b)x² + 20x=0 (c) x² - 40x + 14 = 0 Q³-1360. (a) Write down the equation of the total revenue function. (b) Determine the break-even point. . (a) Simplify to a single term (i) 2 log(x) -log(2x) (ii) e³e-¹5-1
E2
1. A steel bar manufacturer business can make 15000 bar a week. It is determined that to achieve this production, the company need to spend 90000 pesos weekly for materials, utilities and transportation. The manager also pays a fixed cost of 10000 pesos per week. HOW MUCH per steel bar should they sell to gain a profit of 40% of the total cost?
ONLY NEED QUESTIONS 5,6,8,10 and 13
AFCATC $120150 6085 4060 3048 2145 2042 17.444 1548 MC 30 20 10 12 28 38 50 72 Quantity 2 3 4 7 Refer to the above information to answer this question. What is the value of the breakeven price? O a) $42 Ob) $40 Od $18 Od) $30
Based on the data, answer the questions. Earner Sally Pat What is Sally's tax rate? 38% 33% O 28% 24% Annual income amount $94551.00 $304557.00 What is Pat's tax rate? 0000 O 22% 31% 33% 24% Income tax amount $31201.83 $73093.68
8
WHAT ARE THE Regulation and enforcement (Accounting Profession) in UAE?