I need cIts not 1,000 OutputTCATC25,000$55,000.002.20 V50,00075,000.00$1.5075,00080,000.001.07100,00085,000.00$0.85Instructions: In part a, round your answers to 2 decimal places. In parts c and d, enter your answers as a whole number.a. What is ATC for each level of output listed in the table? Enter your answers in the table above.b. Suppose that for each 25,000-bottle-per-day increase in production above 100,000 bottles per day, TC increases by $5,000 (sthat, for instance, 125,000 bottles per day would generate total costs of $90,000 and 150,000 bottles per day would generate toTcosts of $95,000). Are there economies of scale at all levels of output?Yesc. Suppose that the price of a bottle of vitamins is $1.43. At that price, the total quantity demanded by consumers is 75,000,000bottles. How many firms will be in this industry?1000 firm(s)d. Suppose that, instead, the market quantity demanded at a price of $1.43 is only 75,000. How many firms will be in this industry?1 firm(s)e. Review your answers to parts b, c, and d. Does the level of demand determine this industry's market structure?No

Total Cost (TC): Depending on the context, the meaning of this phrase varies slightly. It measures…

Answered: c. Suppose that the price of a bottle…

c. Suppose that the price of a bottle of vitamins is $1.43. At that price, the total quantity demanded by consumers is 75,000,000 bottles. How many firms will be in this industry? 1000 firm(s)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

I need c Its not 1,000

Output
TC
ATC
25,000
$55,000.00
2.20 V
50,000
75,000.00
$
1.50
75,000
80,000.00
1.07
100,000
85,000.00
$
0.85
Instructions: In part a, round your answers to 2 decimal places. In parts c and d, enter your answers as a whole number.
a. What is ATC for each level of output listed in the table? Enter your answers in the table above.
b. Suppose that for each 25,000-bottle-per-day increase in production above 100,000 bottles per day, TC increases by $5,000 (s
that, for instance, 125,000 bottles per day would generate total costs of $90,000 and 150,000 bottles per day would generate toT
costs of $95,000). Are there economies of scale at all levels of output?
Yes
c. Suppose that the price of a bottle of vitamins is $1.43. At that price, the total quantity demanded by consumers is 75,000,000
bottles. How many firms will be in this industry?
1000 firm(s)
d. Suppose that, instead, the market quantity demanded at a price of $1.43 is only 75,000. How many firms will be in this industry?
1 firm(s)
e. Review your answers to parts b, c, and d. Does the level of demand determine this industry's market structure?
No

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