Hi, I could not solve questions d, e, and f. Could you please help me with this? Thank you! Question 8Refer to the information provided in Table 8.2 below to answer the question(s) that follow.Number ofEarrings TVC MC AVC TFC TC AFC ATC010012345270Table 8.25046.6730095a) Refer to Table 8.2. If Sherry produces zero earrings, what are her total fixed costs? Showyour work.b) Refer to Table 8.2. If Sherry produces one pair of earrings, what are her total variable costs?Show your work.c) Refer to Table 8.2. If Sherry produces two pairs of earrings, what is her marginal cost? Showyour work.d) Refer to Table 8.2. If Sherry produces five pairs of earrings, what are her total costs? Showyour work.e) Refer to Table 8.2. If Sherry produces four pairs of earrings, what are her average fixed costs?Show your work.f) Refer to Table 8.2. Assume that Sherry's Earrings is producing in a perfectly competitivemarket and the market price for earrings is $60. To maximize profits Sherry should producepairs of earrings. How did you decide on this quantity choice, i.e. what is the conditionfor profit maximization? Show your work.

Total cost is the sum of fixed cost and variable cost. Fixed cost is the cost that incurs even at…

d) Refer to Table 8.2. If Sherry produces five pairs of earrings, what are her total costs? Show your work. e) Refer to Table 8.2. If Sherry produces four pairs of earrings, what are her average fixed costs? Show your work. f) Refer to Table 8.2. Assume that Sherry's Earrings is producing in a perfectly competitive market and the market price for earrings is $60. To maximize profits Sherry should produce pairs of earrings. How did you decide on this quantity choice, i.e. what is the condition for profit maximization? Show your work.

d) Refer to Table 8.2. If Sherry produces five pairs of earrings, what are her total costs? Show your work. e) Refer to Table 8.2. If Sherry produces four pairs of earrings, what are her average fixed costs? Show your work. f) Refer to Table 8.2. Assume that Sherry's Earrings is producing in a perfectly competitive market and the market price for earrings is $60. To maximize profits Sherry should produce pairs of earrings. How did you decide on this quantity choice, i.e. what is the condition for profit maximization? Show your work.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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