MC Qu. 10-153 According to the accompanying diagram,... Dollars 0 Multiple Choice O K O H MC DE Quantity According to the accompanying diagram, the profit-maximizing output, the firm will realize ATC an economic profit of ABGH. an economic profit of ACFH. a loss equal to ACFH. a loss equal to BCFG. AVC MR

MC Qu. 10-153 According to the accompanying diagram,... Dollars 0 Multiple Choice O K O H MC DE Quantity According to the accompanying diagram, the profit-maximizing output, the firm will realize ATC an economic profit of ABGH. an economic profit of ACFH. a loss equal to ACFH. a loss equal to BCFG. AVC MR

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 4SCQ: Based on your answers to the WipeOut Ski Company in Exercise 7.3, now imagine a situation where the...

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Return to Figure 7.7. What is the marginal gain in output from increasing the number of batters from 4 to 5 and from 5 to 6? Does it continue the pattern of diminishing marginal returns? Figure 7.7 How output Affects Total costs
A computer company produces affordable, easy-to-use home computer systems and has fixed costs of 250. The marginal cost of producing computers is 700 for the first computer, 250 for the second, 300 for the third, 350 for the fourth, 430 for the fifth, 450 for the sixth, and 500 for the seventh. Create a table that shows the companys output, total cost, marginal cost, average cost, variable cost, and average variable cost. At what price is the zero-profit point? At what price is the shutdown point? If the company sells the computers for 500, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVG curves to illustrate your answer and show the profit or loss. If the firm sells the computers for 300, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVG curves to illustrate your answer and show the profit or loss.
Based on your answers to the WipeOut Ski Company in Exercise 7.3, now imagine a situation where the firm produces a quantity of 5 units that it sells for a price of 25 each. What will be the companys profits or losses? How can you tell at a glance whether the company is making or losing money at this price by looking at average cost? At the given quantity and price, is the marginal unit produced adding to profits?
for this graph answer the following question what is the total revenue? what is the total profit? what is the maximun point?
V See Hint Suppose that Juan sells burritos. The total cost of production, based on the number of burritos produced, is shown in the following table. Number of burritos Total cost ($) 1. 8) 2. 10 3) 13 4. 18 25 34 7. 45 Suppose that the price is $6. Assuming profit maximization, how many burritos will Juan sell? asopdne
Under which of the folowing examples is t likaly that the accounting profit is positive and the economic profit is negative? OA Using a restaurant you purchased to sell Menican food instead of talian food. OR It you use a diamond mine as a touriet atraction instead of using it for mining. Oc Opering a bank branch near a university campus. OD. Such a scenario, where accounting cost is positive and economic profit is negafive, is not possibie.
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Marginal cost is given by 20 + 10Q- 12Q2. Fixed cost is 100. What is the average cost? O A. 100 -3Q2 + 20Q + 20 + 20 O B.402 + 5Q+80 + 20 OC3Q2 + 10Q+ 80 + 100 4Q2 + 5Q +20 + Type here to search ASUS VivoBook SC 图 prt sc insert (3 ) f7 f9 home f11 Pgup f12 Pgdn fo f10 end & 7 4 %$4 5. 1/2 #3 of 3.
Please answer correct explain plz
2AAWO AC I4 17.1 REVENUE, COST, AND PROFIT APPLICATIONSITSO RSYHAHD 797 20 A firm sells each unit of a product for $50. The total cost of producing x (thousand) units is described by the function C(x) = 10 – 2.5x² + x³ where C(x) is measured in thousands of dollars. (a) Use the marginal approach to determine the profit-maximizing level of output. (6) What is total revenue at this level of output? Total cost? Total profit? 1 The profit function for a firm is -000
100 90 80 70 60 ATC 50 40 30 20 AVC МС О 10 + 0 0 5 10 15 20 30 35 40 45 50 QUANTITY (Thousands of shirts) or each price in the following table, use the graph to determine the number of shirts this firm would produce in order to maximize its profit. Assume hat when the price is exactly equal to the average variable cost, the firm is indifferent between producing zero shirts and the profit-maximizing uantity. Also, indicate whether the firm will produce, shut down, or be indifferent between the two in the short run. Lastly, determine whether it will nake a profit, suffer a loss, or break even at each price. Price Quantity (Dollars per shirt) (Shirts) Profit or Loss? Produce or Shut Down? Shut down 10 20,000 Loss Shut down 20 10,000 Loss Shut down 32 5,000 Loss Either 0 or 37,500 Shut down 40 Loss 25 COSTS (Dollars)
ollingOnelED.. App Inventor Tic Ta... Calendly-Kathryn.. eaaesID JO Ə V Diane owns a store that sells computers. Her profit, in dollars, is represented by the function P(x) = x - 22x2 - 240x, where x is the number of computers sold. Part A: Diane hopes to make a profit of at least $10,000 by the time she sells 36 computers. Explain whether or not Diane will meet her goal. Justify your reasoning. Part B: Diane states that there are three possible values of x for which she will have a profit of$0. Find the values of x that produce a zero profit to show whether Diane is correct or not. Justify your reasoning.