Answered: Jane's Juice Bar has the following cost…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Jane's Juice Bar has the following cost schedules:

In the following table, complete the marginal cost, average variable cost, and average total cost columns. (SEE ATTACHMENTS FOR THE REST OF QUESTIONS)

Which of the following statements are true according to the previous graph? Check all that apply.

The marginal-cost curve is below the average-total-cost curve when output is greater than four and average total cost is rising.

The marginal-cost curve lies above the average-variable-cost curve.

The marginal-cost curve is below the average-total-cost curve when output is less than four and average total cost is declining.

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B 5-1 Quiz - ECO-201-X6482 Mi x
* MindTap - Cengage Learning X
b Answered: The market for fert x
Econ Chap 14 Firms in Compe x
G Suppose the book-printing in x
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Module Five Quiz
On the following graph, use the orange points (square symbol) to plot the marginal-cost curve for Jane's Juice Bar. (Note: Be sure to plot from left to
Courses
right and to plot between integers. For example, if the marginal cost of increasing production from 1 vat of juice to 2 vats of juice is $5, then you
would plot a point at (1.5, 5).) Then use the purple points (diamond symbol) to plot the average-variable cost curve starting at 1 vat of juice, and use
Catalog and Study Tools
the green points (triangle symbol) to plot the average-total-cost curve also starting at 1 vat of juice.
A-Z
EE Rental Options
* CENGAGE MINDTAP
Q Search this c
College Success Tips
Module Five Quiz
9. Firm's Cost Schedule
Career Success Tips
40
Jane's Juice Bar has the following cost schedules:
Help
35
Marginal Cost
Give Feedback
In the following table, complete the marginal cost, average variable cost, and average total cost columns.
30
Average Total Cost
Quantity
(Vats of juice) (Dollars)
Variable Cost Total Cost
Marginal Cost
Average Variable Cost
(Dollars)
(Dollars)
(Dollars)
(Dollars)
30
25
Average Variable Cost
35
15
45
60
20
bongo
80
105
Average Total Cost
105
135
15
On the following graph, use the orange points (square symbol) to plot the marginal-cost curve for Jane's Juice Bar. (Note: Be sure to plot from left to
right and to plot between integers. For example, if the marpinal cost of increasing production from 1 vat of juice to 2 vats of juice is $s, then you
would plot a point at (1.5. 5).) Then use the purple points (diamond symbol) to plot the average-variable cost curve starting at 1 vat of juice, and use
10
the green points (triangle symbol) to piot the average-total-cost curve also starting at i vat of juice.
5
(?
A
2
5
Quantity (Vats of juice)
Which of the following statements are true according to the previous graph? Check all that apply.
the ver 0e totalcost.curvA when eutout is orente
than four and averago total cost is ricina
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Costs

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