Fixed cost is $100 per day. Suppose that the price at which Katie can sell catered meals is $21 per meal. In the short run, will Katie earn a profit? If yes, what is the amount of economic profit? (c) What is the break-even price and the shut-down price in the short run? (d) Suppose that the price at which Katie can sell catered meals is $13 per meal. In the short run, will Katie earn a profit? In the short run, should she produce or shut down?

Fixed cost is $100 per day. Suppose that the price at which Katie can sell catered meals is $21 per meal. In the short run, will Katie earn a profit? If yes, what is the amount of economic profit? (c) What is the break-even price and the shut-down price in the short run? (d) Suppose that the price at which Katie can sell catered meals is $13 per meal. In the short run, will Katie earn a profit? In the short run, should she produce or shut down?

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter5: Buying The Necessities

Section: Chapter Questions

Problem 19AA

See similar textbooks

Similar questions

What Is Local or National or International Suppliers?
describe fertilizer/ what it is used for, etc
Price ($ per gallon) $2.20 $2.00 $1.80 $1.60- $1.40- $1.20- $1.00- D i. 300 400 500 600 700 800 Quantity of Gasoline (millions of gallons) ii. iii. iv. V. vi. vii. viii. ix. ($2.20 per gallon, 420 million gallons) ($2.00 per gallon, 460 million gallons) ($1.80 per gallon, 500 million gallons) ($1.60 per gallon, 550 million gallons) ($1.40 per gallon, 600 million gallons) ($1.20 per gallon, 700 million gallons) X. ($1.00 per gallon, 800 million gallons) 900 Price ($ per gallon) $2.20 $2.00 $1.80 $1.60- $1.40- $1.20- $1.00- ($2.20 per gallon, 720 million gallons) ($2.00 per gallon, 700 million gallons) ($1.80 per gallon, 680 million gallons) ($1.60 per gallon, 640 million gallons) ($1.40 per gallon, 600 million gallons) ($1.20 per gallon, 550 million gallons) ($1.00 per gallon, 500 million gallons) 300 400 500 600 700 800 900 Quantity of Gasoline (millions of gallons) Graph both the demand and supply curve together and identify the equilibrium price and quantity. Define what an…
Solve it correctly please.
Individual factor and situational factor for samsung sustainability
The table shows a private open economy. All figures are in billions of dollars. Real GDP C+ lg Net Exports $420 460 500 540 580 620 660 $400 450 500 550 600 650 700 Refer to the above table. If net exports increased by $10 billion at each level of GDP, the equilibrium real GDP would be: Multiple Choice O $650 O $20 20 20 20 20 20 20 Not determinate in the table $610
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
Shane teaches guitar lessons. The graph below shows the comparison of his expenses and revenue for one month. r ($) L -1000 000 -600 200 Number of Lessons Expenses Revenue How many lessons must he teach to break even?
(A) (B © PRICE E $4 In the market shown in the graph above, at a price of $5, there will be 0 Supply Demand 10 QUANTITY (units) a surplus and the price will eventually fall a surplus generating a decrease in demand a shortage and the price will eventually rise a shortage generating an increase in supply an increase in supply and a decrease in demand
Price (dollars per gallon) $5.50 3.50 2.50 0 30 40 45 D S2 S₁ Quantity (millions of gallons per month)
e The following Markups are received at various steps along the chain of distribution for a jar of pasta sauce that sells at a retail price of $5.00. What does it cost the manufacturer to produce a jar of pasta sauce? Format: $X.XX Distribution Stage Manufacturer Distributor Wholesaler Retailer Markups 50% 50% 33% 40%
What are some of the environmental factors that may influence buying decisions? Identify organizational factors thatmay influence buying decisions. Describe the role of theprofessional buyer.