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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Marginal Cost (dollars) Units of Variable Total Cost Output Cost (dollars) (dollars) 0. 60 1 45 105 45 75 135 90 150 15 120 180 30 158 218 38 6. 225 285 67 Refer to Table 7-5. How much are average fixed costs at three units of output? $0 $15 $20 $60 30 2. 4. 5.
The table below represents the costs of producing sneakers. Quantity 10 17 24 31 38 Fixed Cost $112 $112 $112 $112 $112 Variable Cost $15 $40 $65 $90 $115 Total Cost $127 $152 $177 $202 $227 Provide your answer below: Average Fixed Cost ? ? ? ? ? Average Variable Cost ? ? ? ? ? Find the average fixed cost for producing 31 sneakers. Round your answer to the nearest cent. Average Total Cost ? ? ? ? ?
what is the average fixed cost of producing 16 units?
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Average Fixed Average Average Total Total Product Cost Variable Cost Cost Marginal Cost 1 $ 150.00 $ 25.00 $ 175.00 $ 25.00 2 75.00 23.00 98.00 21.00 50.00 20.00 70.00 14.00 4 37.50 21.00 58.50 24.00 15 30.00 23.00 53.00 31.00 6. 25.00 25.00 50.00 35.00 7 21.43 28.00 49.43 46.01 8 18.75 33.00 51.76 68.07 16.67 39.00 55.67 86.95 10 15.00 48.00 63.00 128.97 The accompanying table gives cost data for a firm that is selling in a purely competitive market. If the market price for this firm's product is $68.10, it will produce
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Question 5 Please calculate the cost table below: Output Total Fixed Costs Variable Costs Total Costs Average Fixed Costs Average Variable Costs Average Total Costs Marginal Costs $500 $200 $500 $500 $500 $500 $500 1 2 3 4 5 6 $500 $450 $800 $875 $925
Willie Wheat decides to produce 150 bushels of wheat. Based on the revenue and cost information below, they will earn profit of Quantity Total 0 50 100 150 200 250 300 140 170 190 150 Revenue 10 250 500 750 1,000 1,240 1,500 Fixed Cost 300 300 300 300 300 300 300 Variable Cost 0 100 190 310 510 820 1111 Total Cost 300 400 490 610 810 1,120 1,200 1.500 Profit
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At what level of output is average cost a minimum? What is the average cost (AC) at that output? What is the Marginal Cost (MC) at that output?
Refer to the table below. Note that the first column shows variable costs. Quantity Cost 0 1 2 3 5 6 (in dollars) Costs 0 15 35 60 90 Fixed Total Average Costs Total Costs (in (in (in dollars dollars) per unit) dollars) 160 40 40 40 55 55 : 40 75 37.5 40 100 125 40 33.3 40 130 32.5 165 33 40 200 33.3 Average Variable Costs (in dollars per unit) 15 17.5 20 22.5 25 26.6 Marginal Costs (in dollars per unit) 15 20 25 30 35 40 If the firm produces 5 units that it sells at a price of $30.00 each, what will its profits or losses equal? losses equal $15 profts equal $15 profts equal $25 losses equal $25
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