Please help with correcting the chart. Thanks :) The table below shows cost and revenue information for Choco Lovers, a purely competitive firm producing different quantities ofchocolate gift boxes. Fill in the blanks in the table.Instructions: Enter your answers rounded to two decimal places.X Answer is complete but not entirely correct.Choco Lovers Cost and RevenueQuantityTCATCMCof Gift Boxes($)($)($)1065.006.504.001582.505.504.020102.65.134.0025127.505.105.0030162.505.427.0035207.505.939.00Assume the profit-maximizing price is $5 per gift box, and then answer the following questions:a. Profit-maximizing quantity =25gift boxesb. Total revenue = $125c. Profit = $-2.50%Dd. Profit per unit = $-0.10per gift box

Answered: correcting the chart.

Business

Economics

correcting the chart.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Consumer Price Index SETTINGS 1960 300 280 260 240 220 200 180 160 140 120 100 80 60 40 20 Price…

A: CPI in 1980= 240Wage rate in year 1980= 10 per hour

Q: FORCASTING: using this data below using excel answer the questions please: Month Sales Jan-16…

A: INTERPRETATION The up-and-down movements in the graph indicate that sales experience periodic…

Q: * 1960 300 280 260 240 220 SETTINGS 200 180 160 140 120 100 80 60 40 20 Price Then ($) 1960 Price…

A: Consumer price index change in average price over time. The value of fixed amount of goods measured…

Q: Difference between nominal scale and ordinal scale

A: Nominal and Ordinal scale are measuring tools used to measure the tools.

Q: If the Consumer Price Index was 204 in Year 1 and 253 in Year 2, the inflation rate is:

A: The consumer price index in year 1 was 204. The consumer price index in year 2 was 253.

Q: How does one calculate the break-even point in units?

A: For producing the goods and services, costs of production has to be incurred. It involves fixed and…

Q: 13. According to Statistics Canada (base year=2002), the CPI in Canada for 1914 is 6. In 2020, the…

A: Value of the good = price/ CPI =

Q: How were the figures calculated?

A: Answer is given below

Q: If the population increases by 2.5% per year, what percentage does it change in 5 years?

A: Given,Population increases by per year.

Q: Calculate nominal interest rate in the economy when real interest rate is 7% and inflation rate is…

A: # in an economy given the nominal interest rate, and inflation rate the real interest is given to be…

Q: Compute the values of nominal GDP in 2017, 2018 and 2019. [Kirakan nilai-nilai KDNK nominal pada…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Assume that prices for the items below increaned at the average annual rtes showninthe lable. Use te…

A: The Consumer Price Index (CPI) tends to measure the change in prices which is being paid by…

Q: The South Korean Government in the 1970s decided to follow a strategy of increased investment in…

A: Scarcity refers to the limited availability of resources, that are used to produce goods and…

Q: please answer in text form and in proper format answer with must explanation , calculation for each…

A: Based on the information given in the image, here's how we can solve for Johnny's capital gain/loss…

Q: If you were to do a research on the topic of determining the satisfaction of university students on…

A: The utility is a metric for assessing a person's satisfaction after consuming items. In other words,…

Q: The accompanying table lists the foreign exchange rate between U.S. dollars and British pounds (GBP)…

A: Here as we are provided exchange rate as (dollars / pounds), it implies that: at the date where…

Q: Create line chart for quarterly data for 2019 to 2021 of inflation of qatar In 2019 inflation rate…

A: 2019 Qatar

Q: Question 7 (Hint: fill in the graph.) D: 5000-1.5Q S: 200+ 2.5Q In the world market for scooters,…

A: A country becomes an exporter when world price is greater than domestic equilibrium price.

Q: Determine the Paasche’s quantity index for 2021. (ii) Determine the Laspeyre’s price index for…

A: Year 2011 2021 Item P Q P Q Red Chilli 7.7 500 11.7 600 Green Chilli 4 800 9 1000 Dry Chilli…

Q: Use the following table to find percentage changes in the cost of living (COL) from 2020 to 2021:…

A: The cost of incorporating housing, food and transportation for the year between 2020 to 2022 is…

Q: A B 1 Car Sales Report Month 2 3 Jan. - April 4 May-Aug. 5 Sept. - Dec. 6 TOTAL 7 MINIMUM C 214 355…

A: The data gives the sale figures for cars from 2016 to 2018. Each year is subdivided into three…

Q: GIVE ME AN NUMBERS ( CALCULATE ) !!!!!!!!

A: To calculate the required economic aggregates like Consumption, Government, Investment, Exports,…

Q: an index decreases from 110 to 105. the percentage change in the index is?

A: % Change=x2-x1x1x100 =105-110110x100 =-0.045x100 =-4.5%…

Q: rite interpretation

A: Given table is:

Q: Table 1 data for household consumption and income Consumption per week (US $) (Y) 55, 60, 65, 70, 75…

A: Given Data Given random sample data

Q: 13 Suppose that GDP in Newland is $700 billion and the government increases spending by $30 billion.…

A: Money demanded at different interest rate is represented money demand curve .The supply of money at…

Q: Year Cost of basket (R) of consumer goods / services Base Year 2018 1850 2019 2190 2020 2380 2021…

A: The Consumer Price Index is an important economic metric. It measures the average change in prices…

Q: Please no written by hand and no emage Fruit prices and the amounts consumed for 2010 and 2018…

A: To calculate the price indexes, we need to use the formula for the price index:Price Index = (Price…

Q: What is the use of inflation-adjusted figures?

A: Inflation is the cost of goods and services rising across the economy. Because inflation is not a…

Q: FORCASTING using the data below can you answer the question: Month Sales Jan-16 747…

A: To forecast monthly sales for 2022 using a time series forecasting method, we can utilize a…

Q: The basic tution fee for studetns living in the district in 2003 was $32 per credit hour. In $2016…

A: a. According to BLS, the overall inflation between 2003 and 2016 is 30.91% b. The percentage change…

Q: ↑ Real-Time Data Analysis Exercise What Are Dollars from the Past Worth Today? Compare how many…

A: The Consumer Price Index (CPI) measures the overall change in consumer prices based on a…

Q: Year Peaches Pecans 2016 $14 per bushel $9 per bushel 2017 $12 per bushel $14 per bushel Suppose…

A: Consumer Price Index (CPI) is a measure that calculates the weighted average of prices of a basket…

Q: Government financial statistics do not use definitions and concepts of SNA Question 2Answer…

A: The System of National Accounts (SNA) is a statistical framework that provides a comprehensive,…

Q: 2009 $4.00 100 $2.00 180 2010 $5.00 120 $2.50 200 2011 $6.00 150 $3.50 200 Table 10-4. In 2008, this…

A: Nominal GDP refers to the total value of final goods and service produced during a given period in…

Q: FORCASTING using the data below can you answer the question: Month Sales Jan-16 747 Feb-16…

A: Detailed explanation: Let's dive into a more detailed explanation of the trends and seasonality…

Q: Commodity Quantity (units) Value- 1995 2000 1995 2000 -6. (a) Compute price inclex and quantity…

A: SOLUTION

Q: Which expression best describes the ordinary least squares estimate for B₁? (a) b₁ = -11.111 (b) b₁…

A: We have been given the following data,ixiyi11-2.523-0.75351.347-1.55591.25Here x is the independent…

Q: -6000 -8000 The ACF and PACF shown above were calculated using data you have been asked to forecast.…

A: An economic time series' link between its past and present values is measured by the autocorrelation…

Q: YEAR 1980 1981 1982 1983 CPI 75 78 86 Inflation Rate 3% 4%

A: Inflation is defined as the increase in the general price level in an economy. Rise in general price…

Question

Please help with correcting the chart. Thanks :)

The table below shows cost and revenue information for Choco Lovers, a purely competitive firm producing different quantities of
chocolate gift boxes. Fill in the blanks in the table.
Instructions: Enter your answers rounded to two decimal places.
X Answer is complete but not entirely correct.
Choco Lovers Cost and Revenue
Quantity
TC
ATC
MC
of Gift Boxes
($)
($)
($)
10
65.00
6.50
4.00
15
82.50
5.50
4.0
20
102.6
5.13
4.00
25
127.50
5.10
5.00
30
162.50
5.42
7.00
35
207.50
5.93
9.00
Assume the profit-maximizing price is $5 per gift box, and then answer the following questions:
a. Profit-maximizing quantity =
25
gift boxes
b. Total revenue = $
125
c. Profit = $-2.50
%D
d. Profit per unit = $
-0.10
per gift box

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

A2 As per the above chart, please explain the below question: Do you observe any seasonality, cyclicity and trend?
Econometrics and forecasting What is unit root problem? How does one solve the problem of unit root?
Tract 1 123 2 3 4 Group A Group B 25 50 75 100 25 25 25 25 Calculate the dissimilarly index for this county.
Q6The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2008. Prices and Quantities Year 2008 2009 2010 2011 Price of Cereal Quantity of Price of Milk Cereal $4.00 $4.00 Refer to Table 10-4. In 2008, this country's $6.00 a. d. 90 120 150 $1.50 $2.00 $2.50 $3.50 b. nominal GDP was equal to real GDP and the GDP deflator was equal to 1 nominal GDP was less than real GDP, and the GDP deflator was less than 100 4. nomunal GDP was equal to real GDP, and the GDP deflator was equal to 100 Q7. Refer to Table 10-4. In 2009, this country's real GDP was $660, and the GDP deflator was 113.4 b. real GDP was S670, and the GDP deflator was 115.2 real GDP was $660, and the GDP deflator was 115.2. real GDP was $670, and the GDP deflator was 113.4. Quantity of Milk 150 a nominal GDP was greater than real GDP and the GDP deflator was greater than 100. 180 200 200
Sav Blundell Biotech. Blundell Biotech is a U.S.-based biotechnology company with operations and earnings in a number of foreign countries. The company's profits by subsidiary, in local currency (in millions) along with the average exchange rate for each year, by currency pairs, are shown in the table for 2013 and 2014. Use these data to answer the following questions. a. What was Blundell Biotech's consolidated profits in U.S. dollars in 2013 and 2014? b. If the same exchange rates were used for both years-which is often called a "constant currency basis-what was the change in corporate earnings on a constant currency basis? c. Using the results of the constant currency analysis in part (b), is it possible to separate Blundell's growth in earnings between local currency earnings and foreign exchange rate impacts on a consolidated basis?
300 word sammary of minorio report reading.
The table below is extracted from Happyland Republic, Bureau of Statistics records for 2019- 2020. Use the information in this table to answer the questions that follow. Base year 2019 Productio Items 2020 Productio Price Price n n Used cloth (units) 4,000 50.00 5,000 60.00 Components used tractor factory production (units) Cloth (units) 1,200.0 8,000 500.00 11,000 8,000 25.00 12,000 30.00 Beef gifts during cultural festival (Kg) Milk (litres) Computers (Units) Printers (Units) Raw materials for car assembling plant (Units) 1,500 2.00 1,700 3.00 5,000 2,000 500.00 500 300.00 4,500 250.00 1.30 7,000 2.50 2,500 600.00 400 355.00 4,450 300.00 i. Calculate Happyland Republic's nominal GDP, real GDP in 2020. Also, calculate the GDP deflator if 2019 is used as the base year. Show your work.
FORCASTING using the data below can you answer the question: Month Sales Jan-16 747 Feb-16 697 Mar-16 1014 Apr-16 1126 May-16 1105 Jun-16 1450 Jul-16 1639 Aug-16 1711 Sep-16 1307 Oct-16 1223 Nov-16 975 Dec-16 953 Jan-17 1024 Feb-17 928 Mar-17 1442 Apr-17 1371 May-17 1536 Jun-17 2004 Jul-17 1854 Aug-17 1951 Sep-17 1516 Oct-17 1642 Nov-17 1166 Dec-17 1106 Jan-18 1189 Feb-18 1209 Mar-18 1754 Apr-18 1843 May-18 1769 Jun-18 2207 Jul-18 2471 Aug-18 2288 Sep-18 1867 Oct-18 1980 Nov-18 1418 Dec-18 1333 Jan-19 1333 Feb-19 1370 Mar-19 2142 Apr-19 2138 May-19 2078 Jun-19 2960 Jul-19 2616 Aug-19 2861 Sep-19 2237 Oct-19 2225 Nov-19 1590 Dec-19 1659 Jan-20 1613 Feb-20 1605 Mar-20 2349 Apr-20 2468 May-20 2532 Jun-20 3127 Jul-20 3288 Aug-20 3285 Sep-20 2485 Oct-20 2723 Nov-20 1835 Dec-20 1894 Consider five years of monthly profit for a company Forecast monthly sales for 2022…
Inflation rate between each year what kind of measurement is this?
8
24
Turnover (EUR) 2015 2016 2017 2018 2019 2020 prices 179 408 186 287 180 802 181 825 174 922 178 632 203 206 210 744 204 841 205 529 188 995 184 830 174 203 180 682 176 062 176 973 190 562 189 118 207 017 214 936 208 476 209 527 205 449 196 190 2015 2016 2017 2018 210 672 202 746 207 919 212 905 215 358 212 925 217 367 207 480 219 291 224 067 220 738 227 471 2019 2020 The 2nd element of the base quantity-index series standard weighted is Give their value with 4 decimals. Pay attention for the sequencing: in case of a base index series the '1', in case of a chain index series the is considered the 0th element of the relevant index series!!!