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

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

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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Bags/Participants Fixed Cost Variable Cost Total Cost $1,700 $- $1,700 100 $1,700 $500 $2,200 200 $1,700 इ1,200 $2,900 $1,700 $2,700 $4,400 300 $1,700 $5,200 $6,900 400 $1,700 $9,000 $10,700 500 $16,700 $1,700 $15,000 600 $1,700 $23,800 $25,500 700 $36,800 $38,500 $1,700 800 $55,800 $57,500 $1,700 900 $84,700 $83,000 $1,700 1,000 Given the above information on cost, if you charge $15 per entry, what is the breakeven quantity of bags that you should order? At what quantity of bags will profits be maximized? Please select any/all correct answers: Using Qb = F/(MR - AVC) where Qb is the break even quantity, the event would break even at 283 bags. %3D O Using the profit-maximizing rule, MR 2 MC, the quantity of bags that will maximize profits is 200 bags. O Using the profit-maximizing rule, MR > MC, the quantity of bags that will maximize profits is 300 bags. O The break even quantity cannot be determined in this case. «< Question 2 of 9 A Moving to another question will save this…
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