Given the data provided in the table below, the total revenue (TR) for production at quantity (Q) level 4 equalsTCTRMRMCProfit$6$8$6$9$6$11$6$14S6$1815$6$2316S6$2917S6S36$20.006S24.00*56.00zero

Total Revenue (TR) refers to the revenue of a firm through their total sale of goods, which can be…

Answered: Given the data provided in the table…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1: 2 (N 2: 4 > 3: sa 4: 5: 6 8 10 ✓ 6: Question 16 Listen Figure 12-2 $60 $45 $40 $30 $10 200 Marginal Cost Average Total Cost 450 800 650 Refer to Figure 12-2. If the market price equals $45, the maximum profit that the firm can earn is: approximately $29,250. approximately $19,500. approximately $9,750. zero dollars. Average Variable Cost
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Using the graph below, calculate the firm's profits at the profit maximizing output Price 408 384 360 336 312 288 264 240 216 192 168 144 120 96 72 48 24 0 0 56 112 168 224 280 336 392 448 504 560 616 672 728 784 840 896 Quantity -PMRMC-AC
At the marketplace $8 per bushel.....please answer
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①The total cost for producing x items is given by 12x + 3735. Each item is sold for $21. Find the formula for the total items must be sold to break even? revenue. How Many ②Solve the equation x² - 10x = -2x-15 3 A department store will buy 8 items if the price is $40 per item, and 14 items if the price is $28 per item. The Supplier is willing to sell 5 items if the price is $70 per item and 12 items if the price is $140 per item. If the supply and demand functions are linear, find the equilibrium point. invest $10,000 in an account that pays 10% compounded you continuously, how much money will you have in 15 years? (4) If ⑤ het f(x) = 300 √x + 2. Find the average rate of change when x increases from 25 to 100. Calculate derivatives of the following functions. a) 2 2x-3 4x+5 b) (2x5 +1) 9 ⑦Calculate derivatives of the following functions 8 の 2 6x в) че 6) 1) In (3x² + 5x) Calculate the following integral S (8x7 - 12x 5 + 3x² + 4) dx
2. For the following total revenue and total cost functions of a firm: TR = 800Q – 10Q2 TC = (2/3)Q3 -30Q2 + 672Q +4000 (a) Determine the level of output at which the firm maximizes total profit (b) Calculate the profit (need step by step, please)
QUESTION 17 The table provided below represents the market demand for pens. There are no fixed costs associated with procurement of pens and the marginal cost of each pan is $2.50. 0 0 0 Calculate the total revenue for a price of $4.00 O a. $17.50 Ob $28.00 O $2.50 Od $10.00
Please answer F and show steps for the graph
lawn-mowing services. Table Q2(a) sets out Lisa's costs and revenue at the market price of RM30 a lawn: Quantity (lawn per hour) Table Q2(a): Costs and Revenues of Lisa’s Lawn Company Marginal Revenue Total Total Cost (RM) Marginal Cost Revenue (RM) (RM) (RM) 30 1 30 30 40 10 60 90 30 30 55 15 3 75 20 4 120 30 100 25 5 150 30 130 30 6. 180 30 165 35 (i) Identify the quantity of lawn per hour that maximised the profit earned by the firm. (ii) Calculate the amount of Lisa's maximum profit in the short run. (iii) In the long run a firm in perfect competition makes normal profit which is equal to zero. Explain graphically how free entry and exit brings the economic profit back to normal profit.
Use the figure below to answer the following questions. Price and cost (dollars per unit) 100 90 85 80 70 55 40 0 MR₂ MC ATC La MR₁ 100 140 200 220 250 Quantity (units per week) Figure 13.2.3 Refer to Figure 13.2.3. Assume this firm faces demand curve D2. If the firm produces the efficient quantity, it makes zero economic profit. makes an economic profit. will face competition from new firms entering the industry. is in a long-run equilibrium. incurs an economic loss.
Problem #1: Assume that the following marginal costs exist in catfish production: 17 Quantity Produced (units per day) Marginal Cost (per unit) 10 11 12 13 14 15 16 $4 6 8 10 12 14 16 18 (a) Graph the MC curve. (b) Use the data on market demand below and graph the demand and MR curves on the same graph. Quantity demanded (units per day) 10 Price (per unit) 11 12 13 14 15 16 17 $25 24 23 22 21 20 19 18 (c) At what rate of output is MR = MC?

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Given the data provided in the table below, the total revenue (TR) for production at quantity (Q) level 4 equals TC TR MR MC Profit $6 $8 $6 $9 $6 $11 $6 $14 S6 $18 15 $6 $23 16 S6 $29 17 S6 S36 $20.00 6S24.00 *56.00 zero