Average Average Variable Cost Average Total Cost Fixed Total Product Marginal Cost Cost $60.00 $105.00 $45.00 40.00 35.00 30.00 35.00 40.00 45.00 55.00 65.00 75.00 $45.00 42.50 1 2 30.00 72.50 20.00 15.00 12.00 10.00 8.57 60.00 52.50 49.00 47.50 3 40.00 37.50 37.00 37.50 4 5 6 38.57 40.63 43.33 46.50 47.14 48.13 50.00 7.50 9 6.67 10 6.00 52.50 Instructions: If you are entering any negative numbers be sure to include a negative sign (–) in front of those numbers. Select "Not applicable" and enter a value of "0" for output if the firm does not produce. a. At a product price of $67.00 (i) Will this firm produce in the short run? (Click to select) v (ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? (Click to select V output = units per firm (iii) What economic profit or loss will the firm realize per unit of output? (Click to select v per unit = $

Average Average Variable Cost Average Total Cost Fixed Total Product Marginal Cost Cost $60.00 $105.00 $45.00 40.00 35.00 30.00 35.00 40.00 45.00 55.00 65.00 75.00 $45.00 42.50 1 2 30.00 72.50 20.00 15.00 12.00 10.00 8.57 60.00 52.50 49.00 47.50 3 40.00 37.50 37.00 37.50 4 5 6 38.57 40.63 43.33 46.50 47.14 48.13 50.00 7.50 9 6.67 10 6.00 52.50 Instructions: If you are entering any negative numbers be sure to include a negative sign (–) in front of those numbers. Select "Not applicable" and enter a value of "0" for output if the firm does not produce. a. At a product price of $67.00 (i) Will this firm produce in the short run? (Click to select) v (ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? (Click to select V output = units per firm (iii) What economic profit or loss will the firm realize per unit of output? (Click to select v per unit = $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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what is the average fixed cost of producing 16 units?
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