**Transcription of the Educational Table and Instructions****Table Data:**| Q | TFC | TVC | TC | AC | MC | P | TR | MR | Profit ||----|-----|-----|----|----|----|---|----|----|--------|| 0 | 3 | | | | | | | | || 1 | 3 | 5 | | | | | | | || 2 | 3 | 6 | | | | | | | || 3 | 3 | 8 | | | | | | | || 4 | 3 | 11 | | | | | | | || 5 | 3 | 15 | | | | | | | || 6 | 3 | 21 | | | | | | | || 7 | 3 | 30 | | | | | | | || 8 | 3 | 42 | | | | | | | || 9 | 3 | 60 | | | | | | | || 10 | 3 | 85 | | | | | | | |**Instructions:**- Complete all the cost columns.- Assume price = $8.- Complete the rest of the table.(c) Graph TR and TC on the graph up and to the right.(d) For the market graph below on the right, label demand, supply, and the prevailing market price. Label the equilibrium market quantity with q*.(e) For the firm graph below to the left, label the axis. PLOT USING THE DATA IN THE TABLE the demand curve the firm faces, the marginal revenue curve, the average cost curve, the marginal cost curve, and the equilibrium price, quantity. Show the profit. Do all the plots give you the same answer?**Graphing Instructions:**- Graph

AVC refers to average variable cost. It is calculated by dividing the total variable cost by the…

Answered: Graph TR and TC for the firm Graph TR…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Price Per Hour (Q) (P) 0 $6.00 1 5.50 2 5.00 3 4.50 4 4.00 5 3.50 6 3.00 7 2.50 8 2.00 Total Cost (TC) $2.00 6.50 10.00 13.00 15.50 17.50 19.00 21.00 24.00 loaves of ciabatta bread per hour. (Enter your response as an integer.) a. To maximize profits, Maria should sell Maria should charge a price of $ Maria's maximum profit is $ (Enter your response rounded to two decimal places.) (Enter your response rounded to two decimal places.) (Enter your b. The marginal revenue when selling the profit-maximizing number of loaves of ciabatta bread is $ response rounded to two decimal places.) The marginal cost when selling the profit-maximizing number of loaves of ciabatta bread is $. (Enter your response rounded to two decimal places.)
ntQu102spring22 (1) - Protected View • Saved to this PC - O Search (Alt+Q) Faridatu Pafadnam References Mailings Review View Help t Defender Advanced Threat Protection and it hasn't detected any threats. If you need to edit this file, click enable editing, Enable Editing 3) Consider the following short-run cost curves for a profit-maximizing firm in a perfectly competitive industry. MC SRATC 4 SRAVC 1.5 1 100 200 300 400 Quantity FIGURE 1 a) Refer to Figure 1. If the current market price is $6, what is the profit-maximizing output for this firm? b) Refer to Figure 1. If the price is $6 and the firm is producing at its profit-maximizing output, then what are total costs for the firm? c) Refer to Figure 1. If the market price is $1, the firm will produce short run. units of output in the d) Refer to Figure 1. If the market price is $2, what the firm will do? Price $

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Graph TR and TC for the firm Graph TR and TC for the firm Q TFC TVC TC АС MC P TR MR Profit 3 1 6. 3 8 4 11 5 15 21 7 30 8 42 9. 60 10 85 Complete all the cost columns.