c) Assuming that the cost of employing each worker is $220 per day (including wages and materials), and Custom Made Pot has daily fixed costs of $400, fill in Table B given below: Round your AVC and MC answers to one decimal place. Number of Workers Output TP = 1 10 2 3 A 5 88 180 240 280 294 TVC($) 220 440 660 880 100 1320 TFC Table B TC 400 620 400 840 400 1060 400 1280 400 1500 400 1720 AVC($) ATC 22 5.5 3.67 3.67 3.9 4.5 62 10.5 5.89 5.33 5.3 5.8 MC($) 0 220 220 220 220 220 dy On the graph given below, plot the following points showing the quantity and dollar amounts. point of diminishing returns (D) most productive point (P) economic capacity (E)

c) Assuming that the cost of employing each worker is $220 per day (including wages and materials), and Custom Made Pot has daily fixed costs of $400, fill in Table B given below: Round your AVC and MC answers to one decimal place. Number of Workers Output TP = 1 10 2 3 A 5 88 180 240 280 294 TVC($) 220 440 660 880 100 1320 TFC Table B TC 400 620 400 840 400 1060 400 1280 400 1500 400 1720 AVC($) ATC 22 5.5 3.67 3.67 3.9 4.5 62 10.5 5.89 5.33 5.3 5.8 MC($) 0 220 220 220 220 220 dy On the graph given below, plot the following points showing the quantity and dollar amounts. point of diminishing returns (D) most productive point (P) economic capacity (E)

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

Suppose that the firm Smith Co sells 400 blouses per month for $80 per blouse. Roberto, the owner of the business and does not take salary from her business yet. Roberto is a textile engineer by trade and could be earning $ 4800 per month working for a similar firm. The monthly costs of production are as follow: materials: $ 8000 labor: $12800 other: $1600 What is are Smith Co's total explicit costs? $ What is are Smith Co's total implicit costs? $ What is Smith Co's accounting profit? $ What is Smith Co's economic profit? $ ID - -> -
The hiring of labour with fixed factor of production under short run aftersometimes leads to increase in cost only. What’s your opinion at what stage ofproduction producer should make addition in labour, identify which concept in economics explains the whole situation, justify your answer why it happens withthe help of table and diagrams
Marginal Variable Fixed Labor Output Product Cost Cost $0 $5 -- 1 100 100 $5 $5 250 $10 $5 3 350 $15 $5 4 50 $20 $5 5 25 $25 $5 6 430 $30 $5 What is the average variable cost of producing 400 units of output?
Typed plz ASAP
Output (Concession Stand Items) Number of Workers Employed Per Day Price of Labor Per Worker Per Day Total Variable Cost of Labor Total Fixed Costs Per Day Total Cost Per Day Average Price of Concession Stand Items Total Revenue Profit Average Variable Cost Average Fixed Cost Average Total Cost Marginal Cost Marginal Revenue 0 0 $120 0 $2,000 2000 $8.00 0 -2000 0 0 0 0 8 100 2 $120 240 $2,000 2240 $8.00 800 -1640 2.40 20 22.40 2.40 8 400 4 $120 480 $2,000 2480 $8.00 3200 720 1.20 5 6.20 0.80 8 750 6 $120 720 $2,000 2720 $8.00 6000 3280 0.96 2.66 3.62 0.67 8 900 8 $120 960 $2,000 2960 $8.00 7200 4240 1.07 2.22 3.29 1.60 8 1,025 10 $120 1200 $2,000 3200 $8.00 8200 5000 1.17 1.95 3.12 1.92 8 1,125 12 $120 1440 $2,000 3440 $8.00 9000 5560 1.28 1.77 3.06 2.40…
workers ouput marginal product total cost average total cost marginal cost 0 0 0 200 0 $0 1 20 20 300 $15 $5 2 50 30 400 $8 $3.33 3 90 40 500 $5.56 $2.50 4 120 30 600 $5 $3.33 5 140 20 700 $5 $5 6 150 10 800 $5.33 $10 7 155 5 900 $5.8 $20 can you explain diminishing marginal product based on these numbers?
Which of the following is most likely to be a variable cost for a firm? B. O an annual payment for insurance on the firm's plant O the interest payments made on equipment loans O the monthly rent on office space that it leased for 5 years O the wages paid to workers. - Previous Next 21 étv A MacBook Pro
(2 ex Production function is flu, X2)=min (x,, 2-x) Dwhat are the conditional factor demand of y = 10 OVA the firm faces w, and w₂ as input prices, what is the cost function?
Fill in the space (a) in the table below associated with the firm William Perry, Inc., that delivers refrigerators in the Chicago area, using the two inputs of labor and trucks. + O Number of Amount of Trucks Labor O Undetermined O 0 2 2 2 2 2 2 2 2 0 1 2 3 4 5 6 Total Output 0 75 (c) 380 (f) Average Product of Labor (a) (b) 100 (d) (e) 75 Marginal Product of Labor 100 50 (g) 0
Question 1A. Jamaica Biscuit Company produces 8000 cases of water crackers weekly. Based onthe company’s production costs throughout the years, they figure that it will cost them$40.00 to make a case of water cracker. There will also be a cost for running theequipment for an entire week that they figure to be $5400, regardless of how many casesof water crackers they make.i. Derive the cost function for the company for a week. ii. What is the company’s total cost for a week? iii. If the company decides to sell its 8000 cases of water crackers for $70 each. Derivethe company’s revenue function and then calculate its total revenue for the week?iv. Derive the company’s profit function. v. What is the company’s profit or loss for a week? vi. How many cases of crackers must be sold for the company to make a profit of $747, 600? vii. At what point does the company break-even?
I need help solving this problem:
Question 10 TTT Quantity of Output Fixed Costs Variable Costs 15 2 15 12 4 15 23 15 38 8 15 46 10 15 70 Based on the above table, what is the marginal cost of producing the 6th unit? 8. 7.5 10.5 5.5