MarginalPriceQuantity SoldRevenueCostMarginal Average TotalCost$1014$1015(A)$8$14$1016(B)$7$9.19$1017(C)$9$8.76$1018(D)$12$8.94Use the table above to answer the following question. If the firm decides to produce 15 units,what is the firm's profit? (note: we always are assuming economic profit).

If the firm decides to produce 15 units ,the total revenue will be 15x10=150 the total cost of…

Answered: Marginal Price Quantity Sold Revenue…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2. Calculate the values of A, B, C, and D in the following table. Show your calculations. Price Marginal cost Markup on cost Markup on price (%) (%) 6,250 A 5.3 B C 10,000 D 0.0
Suppose for a single firm thatP = 15TC = 3Q + 2Q2 (a) What is the profit-maximizing quantity? (b) What is the profit at the profit-maximizing quantity? Only typed Answer
5. El Sol Inc. produces beach towels. The cost of each towel is $ 4.00 and it sells for $ 10.00 after the markup on its cost. Similar towels sell for $ 8.00. How much should each towel cost you to be able to adjust to the market price and keep your profit margin?
in the month of Janaury a car dealership bought its vehicles for $100.000 and sold them for $145,000 It pays its employees $20,000 for the month. What is the gross profit for January? Ⓒ$45.000 Ⓒ$25.000 $100.000 $145.000
Question 4 Barrels of Average Oil Marginal Marginal Total Produced Revenue Cost Costs $ 30.00 $ 4.00 $ 34.00 1 $ 50.00 $ 50.00 $ $ 50.00 $ 77.00 $ 50.00 $ 17.00 $ 17.00 $ 50.00 $ 23.00 $ 18.20 2 6.00 $ 40.00 $ 17.00 $ 50.00 $ 29.00 $ 20.00 $ 50.00 $ 36.00 $ 22.29 $ 50.00 $ 50.00 $ 25.75 $ 50.00 $ 90.00 $ 32.89 $ 50.00 7 8. 10 $ 124.00 $ 42.00 Consider the table above. What are the fixed costs of production for this firm? $4 $30 $50 $34
ork (5.3) Part 1 of 3 A manufacturing company makes two types of water skis, a trick ski and a slalom ski. The relevant manufacturing data are given in the table. Labor Hours per Ski Maximum Labor-Hours Available per Day 120 25 Department Fabricating Finishing Answer parts (A), (B), and (C) below Trick Ski 5 1 Slalom Ski 4 1 CITT (A) If the profit on a trick ski is $50 and the profit on a slalom ski is $60, how many of each type of ski should be manufactured each day to realize a maximum profit? Wh is the maximum profit? The maximum profit is $ The maximum occurs when trick skis and slalom skis are produced. 4
Assume the following unit cost data are for a purely competitive producer. Required A. How much would be the total revenue? B. What will be the profit-maximizing or loss-minimizing output? C. how much would be the total cost?
(A) The Marginal cost of a firm is $230 and the marginal revenue is $255 What would be the value of Marginal profit (B) is the firm maximizing its profit?
8.1 The fixed costs at Harley Motors are $1M annually. The main product has revenue of $9.90 per unit and $4.50 variable cost. This question is in three parts. Part 2: What is the annual profit (or loss) if 150,000 units are sold? (if a profit, use a positive number and if a loss, use a negative number; do not use commas or $ signs in your answer)
Subj: ec
Output (unit) Total Cost (RM) Price (RM) 1 550 660 2 670 585 3 720 510 4 740 435 800 360 960 285 1190 210 135 60 8 1520 2160 Table 3 Table 3 shows data for a firm's production and costs in the long run. a. Based on Table 3, compute the marginal cost, average cost, marginal revenue, and average revenue as the output increases from 0 to 9 units. C. Based on your calculation from question (a), show the quantity and price where the equilibrium condition is found.
Refer to the scenario below to answer the questions. Upon graduating with an accounting degree, you open your own accounting firm of which you are the sole employee. To start the firm you passed on a job offer with a large accounting fim that offered you a salary of RM60,000 annually. Last year you carned a total revenue of RM100,000. Rent and supplies last year were RM50,000. 2.1) Your annual economic costs are (IM) 2.2) Your annual economic profit is (IM) 2.3) Your annual accounting profit is (IM) 2.4) Based on the above information, describe the condition of your firm. (2M) (5 Marks) Question 3 Choose one brand for every market structure below. Explain the characteristics of the brand to conform with the structure. 3.1) Monopoly: (2M) 3.2) Oligopoly with heterogenous products: (2M) 3.3) Oligopoly with homogeneous products: (2M) 3.4) Perfect Competition: (2M) Monopolistic Competition: 3.5) (2M) (10 Marks)

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