le production schedule for Great Balls of Fire, a food truck that sells alls of Fire has a lease on the truck itself that costs $1200 per week that ot the food truck produces and sells any meatballs. They may hire up to and sell the meatballs, workers cost $600 per week. The production any meatballs would be produced with the varying levels of employees. Fixed Costs Variable Cost Total Cost Average Variable Cost 20 1200 0 30 1800 3000 3000 30 3000 4200 2100 30 3600 4800 1600 le, please round all answers to the nearest cent. Do not enter any its (Ex. If your calculator says 12.376, just enter 12.38.) If your answer is I don't need to include the cents (Ex. you may enter 10 instead of 10.00) tting to the outer columns to enter your answer. First, make sure you try extending your browser window, pull the corner out so the window is TAB button on your keyboard to move between cells to get to the column that works, you can email me your answers to this question. Average Total Cost

le production schedule for Great Balls of Fire, a food truck that sells alls of Fire has a lease on the truck itself that costs $1200 per week that ot the food truck produces and sells any meatballs. They may hire up to and sell the meatballs, workers cost $600 per week. The production any meatballs would be produced with the varying levels of employees. Fixed Costs Variable Cost Total Cost Average Variable Cost 20 1200 0 30 1800 3000 3000 30 3000 4200 2100 30 3600 4800 1600 le, please round all answers to the nearest cent. Do not enter any its (Ex. If your calculator says 12.376, just enter 12.38.) If your answer is I don't need to include the cents (Ex. you may enter 10 instead of 10.00) tting to the outer columns to enter your answer. First, make sure you try extending your browser window, pull the corner out so the window is TAB button on your keyboard to move between cells to get to the column that works, you can email me your answers to this question. Average Total 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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Nina is a farmer that grows and sells tomatoes. Her total explicit and implicit costs are 950000 per year, and her explicit fixed cost are 340000 per year. Nina could otherwise earn 60000 in her next best alternative lone of business or employment. Each bushel of tomatoes sells for $40. This year, nina sold 25000 bushels of tomatoes. What are ninas average fixed costs, average variable costs, and average total costs of production? Interpret what each of these costs mean for nina. What is ninas economic profit? What is her accounting profit?
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$22 00 20.00 18.00 Which size bookstore is more likely to experience diseconomies of scale? Long-run Average cost OA Abookstore selling 1,000 books per month B. Abookstore seling 20,000 books per month C. Abookstore selling 40,000 books per month 1,000 20.000 Quantity of books sokd per month 40,00D,000 D. Abookstore seling 80,000 books per month Average cost
Output TFC TVC TC MC АТС A 25 25 ---- -- ---- -- B 1 25 25 50 25 50 C 2 25 40 65 32.5 3 25 70 95 E 4 25 110 33.75 F 5 25 160 50 What is the total cost at point E? 135 125 185 Cannot be determined
mework 6 i 1 Saved nics Game Obituary Project Help Save & Exit Submit a. Complete the following cost schedule by computing marginal cost, average fixed cost, average variable cost, and average total cost. Instructions: Round your responses to the nearest whole number. Rate of nts Total Cost Output Marginal Cost Average Average Average Fixed Cost Variable Cost Total Cost 0 $600 Print 1 800 2 1,050 3 1,400 4 5 1,800 2,300 Mc Graw Hill b. Use the cost data to plot the average total cost (ATC) and marginal cost (MC) curves on a graph. Instructions: Use the tools provided 'ATC' and 'MC' to draw each curve point by point (plot 5 points total for each curve). Round your points for ATC up to the nearest $25. Q Search Prev 1 of 4 Next > 3/
2. Understanding the role of fixed cost in the short run Consider an airline's decision about whether to cancel a particular flight that hasn't sold out. The following table provides data on the total cost of operating a 100-seat plane for various numbers of passengers. Total Cost Number of Passengers (Dollars per flight) 30,000 10 45,000 20 50,000 30 53,000 40 55,000 50 57,000 58 000 60 00D'Rs 70 58,500 80 59,000 90 59,300 100 59,500 Given the information presented in the previous table, the fixed cost to operate this flight is S At each ticket price, a different number of consumers will be willing to purchase tickets for this flight. Assume that the price of a flight is fixed for the duration of ticket sales. Use the previous table as well as the following demand schedule to complete the questions that follow. Price Quantity Demanded (Dollars per ticket) (Tickets per flight) 900 700 50 300 70 100 100 Complete the following table by computing total revenue, total cost, variable cost,…
At what level of output is average cost a minimum? What is the average cost (AC) at that output? What is the Marginal Cost (MC) at that output?
Vinnie’s Painting Company specializes in painting houses. Their cost schedule is as follows: 1. Show to calculate for the table below Output TFC TVC TC AFC AVC ATC MC 0 1000 1 100 2 100 3 400 4 450 5 1600 6 3200 7 6400 a) Given the partial data available, finish the table and calculate all the costs. b) What is the minimum efficient scale of Vinnie’s company? c) What is the marginal cost of 6 houses? d) If Vinnie charges $825 per house, how many houses he should paint to maximize profits?
es Output 6 1 2 3 4 5 S 6 17 8 9 Total Cost $ 2,500 3,416 4,040 4.480 4,900 5,220 5,540 6,310 7,328 9,718 2500 Total Variable Cost b. What is the value of total fixed cost? 6 units $ 0 units 910 1540 1980 2400 2720 3040 3810 4820 7210 Marginal Cost c. What is the most productive level of output? $ 910 630 440 420 320 320 770 1010 2390 Average Total Cost $ d. At what output is economic capacity? Output: e. If TFC doubled, what is the marginal cost of the 7th unit? 3410 2020 1493.33 1225 1044 923.33 901.42 915 1078.89 Average Variable Cost $ 910 770 660 600 544 506.67 544 29 6025 801.11 Average Fixed Cost 2500 1250 833.33 625 500 416.67 35713 312.5 27778
ips Under decreasing returns to scale, average cost cost curve. as the quantity produced increases. Over this range of output, the marginal cost curve is Grade It Now the average Save & Continue
If short run total costs are 2q2 + 50q + 50, and output is 15, average variable costs will be a. 80 b. 50 C. 450 d. 105 e. 52.50