In the short run, the hot dog seller Doug's Dogs has a single variable input, labor (1) W = 50 The price of the labor input is: Doug is a price-taker. The price per case of hot dogs is: P = 100 The total product of labor equation is: TPL = 5L Doug's total fixed costs are: FC = 1000 a. Find the equations of variable cost, total cost, and marginal cost. VC = TC = MC = Find the profit-maximizing output, revenue, cost, and profit. Q* = R*= C* = n*= b.

In the short run, the hot dog seller Doug's Dogs has a single variable input, labor (1) W = 50 The price of the labor input is: Doug is a price-taker. The price per case of hot dogs is: P = 100 The total product of labor equation is: TPL = 5L Doug's total fixed costs are: FC = 1000 a. Find the equations of variable cost, total cost, and marginal cost. VC = TC = MC = Find the profit-maximizing output, revenue, cost, and profit. Q* = R= C = n*= b.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Output AFC AVC ATC MC 1 300 100 400 100 2 150 75 225 50 3 100 70 170 60 4 75 73 148 80 5 60 80 140 110 6 50 90 140 140 7 43 103 146 180 8 38 119 156 230 9 33 138 171 290 10 30 160 190 360 Refer to the chart above. The total fixed costs are what?
calculate and plot the following: No of Units Total Cost 0 5 1 9 2 12 3 15 4 20 5 30 6 42 a) Variable cost b) Fixed Cost c) Average Fixed Cost d) Average Variable Cost e) Maginal Cost
Billco had a total cost of $10,000 when it sold 200 units. It had a total cost of $14,000 when it sold 250 units. What was Billco's average total cost when it sold 250 units?
How do you find the average cost, AC(y)AC(y)? Select one: a. MC(y)×VC(y)MC(y)×VC(y) b. AFC(y)+AVC(y)AFC(y)+AVC(y) c. AFC(y)−AVC(y)AFC(y)−AVC(y) d. ATC(y)AFC(y)
Find average cost if Total cost is $1000 and the output is 60 units
What will be the Total revenue If the total cost is 200 and the profit is 400!
In line with the information including the production amount and total cost of the firm and the double (half) average technique, write the total cost function of the firm by making the relevant calculations and calculate the total cost for the production of 1150 units. .
i need the answer quickly
Question No. 6 A firm manufactures cars at its plant in Swindon. At a capacity of 100 cars per week it knows that it has an assembly cost of £5,000 per car. It needs to expand production and does a series of design and cost exercises. The results are summarized below. |TP(cars/week) 200 400 600 800 1,000 1,200 1,400 1,600 Ass. cost/car 3,000 2,500 2,300 2,200 2,000 2,400 2,800 4,000 (i) Plot the cost curve for the possible factory extensions. (ii) Is this a short run or long run cost curve? (iii) Explain why this curve is U shaped.
Please solve with proper explanation and calculation
Need answer ASAP no explanation needed
a If average total cost is $100, average variable cost is $30 and output is 50 units. What is the firm's total fix cost?