Answered: Coffee Bean Production Total Cost (in…

Coffee Bean Production Total Cost (in pounds) (in $) 0 1000 100 1150 200 1500 300 2050 400 2800 500 3750 600 4900 700 6250 800 7800 900 9550 1000 11500

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter5: Buying The Necessities

Section: Chapter Questions

Problem 20AA

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Question

A. Using Excell find cost function. Obtain formula for MC, MC=c'(y)

B. What is the shutdown price?

c. What is the shut down price?

d. ssume that the sales price of coffee beans is $10 per pound. and optimal amount of coffee beans for the farm to produce and sell at the price of $10.

for the excel part can I see a graph to verify that I'm doing it correctly.

Coffee Bean Production
Total Cost
(in pounds)
(in $)
0
1000
100
1150
200
1500
300
2050
400
2800
500
3750
600
4900
700
6250
800
7800
900
9550
1000
11500

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