boots is $95, so you should start your MC curve by placing an orange square at (0.5, 95).) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. ?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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boots is $95, so you should start your MC curve by placing an orange square at (0.5, 95).)
Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
COSTS (Dollars per pair)
78°F
Sunny
200
175
150
125
100
75
50
25
0
1
2
3
4
QUANTITY (Pairs of boots)
5
6
ATC
AVC
HO
MC
I'
Transcribed Image Text:boots is $95, so you should start your MC curve by placing an orange square at (0.5, 95).) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. COSTS (Dollars per pair) 78°F Sunny 200 175 150 125 100 75 50 25 0 1 2 3 4 QUANTITY (Pairs of boots) 5 6 ATC AVC HO MC I'
Homework (Ch 13)
Douglas Fur is a small manufacturer of fake-fur boots in Houston. The following table shows the company's total cost of production at various
production quantities.
Fill in the remaining cells of the following table.
Quantity Total Cost Marginal Cost Fixed Cost
(Pairs) (Dollars) (Dollars)
(Dollars)
0
78°F
Sunny
1
2
3
4
5
6
60
155
220
255
300
350
450
2
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 $155, so you should start your ATC curve by
placing a green point at (1, 155). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of
boots is $95, so you should start your MC curve by placing an orange square at (0.5, 95).)
Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
O M
F3
3
F4
$
4
Variable Cost Average Variable Cost
(Dollars) (Dollars per pair)
F5
%
5
F6
F7
A
6
F8
Average Total Cost
(Dollars per pair)
&
7
F9
*
8
F10
O
F11
0
F12
2
Fn
Lock
4
10:24 AM
6/25/2022
Insert
Transcribed Image Text:Homework (Ch 13) Douglas Fur is a small manufacturer of fake-fur boots in Houston. The following table shows the company's total cost of production at various production quantities. Fill in the remaining cells of the following table. Quantity Total Cost Marginal Cost Fixed Cost (Pairs) (Dollars) (Dollars) (Dollars) 0 78°F Sunny 1 2 3 4 5 6 60 155 220 255 300 350 450 2 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 $155, so you should start your ATC curve by placing a green point at (1, 155). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of boots is $95, so you should start your MC curve by placing an orange square at (0.5, 95).) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. O M F3 3 F4 $ 4 Variable Cost Average Variable Cost (Dollars) (Dollars per pair) F5 % 5 F6 F7 A 6 F8 Average Total Cost (Dollars per pair) & 7 F9 * 8 F10 O F11 0 F12 2 Fn Lock 4 10:24 AM 6/25/2022 Insert
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