Price and Cost (dollars) B 2 ம 54 3 2 1 T MC ATC 0 10 20 30 40 50 60 70 80 Quantity d Refer to Exhibit 8-7. What is the profit maximizing quantity of this product? O70 units 30 units 50 units. 60 units
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- i need this in woords not hamdwritten please rewrite it as it isq 0 1 2 3 4 5 6 TFC $5 5 5 5 5 5 5 TVC $0 3 Marginal revenue is 5 9 16 25 36 MC $3 2 4 7 9 11 P= MR $5 5 5 5 5 5 5 TR $0 5 10 15 20 25 30 TC $5 8 10 14 21 30 41 Profit $-5 - 3 0 1 - 1 -5 - 11 A profit-maximizing firm should produce a quantity of 3 units. (Enter your response as a whole number.) marginal cost for the first units of output. If the company decides to produce more than units, the marginal cost would exceed marginal revenue and profit wouldQUESTION 10 PRODUCT product X product Y product Z Ob) 153 O c) 1.2 O d) 150 O e) 200 QUESTION 11 O (c) 30% O (d) 25% Ⓒ (e) 20% price: $2.00 quantity: 2,000 price: $1.00 1,000 quantity: price: quantity: PRODUCT product X QUESTION 12 1988 product Y product Z QUESTION 13 $5.00 1,000 $4.00 2,500 $1.00 1,500 10. Given the data in the above table, what is the price index for 1988, using 1988 as the base year and using the 1988 consumption pattern (market basket)? O a) 100 $4.00 1,000 quantity: 1989 price: $2.00 quantity: 2,000 1988 price: $1.00 1,000 price: $5.00 quantity: 1,000 YEAR 1990 $6.00 2,000 $1.00 2,500 $2.00 1,000 1989 $4.00 2,500 $1.00 1,500 $4.00 1,000 1991 $8.00 1,500 $1.00 3,000 11. What is the rate of inflation between 1988 and 1989? (Use 1988 based price indices and 1988 market basket) O (a) 50% O (b) 33% $3.00 1,000 YEAR 1990 $6.00 2,000 $1.00 2,500 $2.00 1,000 1991 $8.00 1,500 $1.00 3,000 $3.00 1,000 12. Which of the following is NOT a problem in using economic statistics?…
- This profit-maximizing/ loss minimizing firm is ? Note:- Please refrain from offering handwritten solutions. Please ensure that your response maintains accuracy and quality to avoid receiving a downvote. Take care of plagiarism. Answer completely. You will get up vote for sure.6AVC, ATC,MC 110 80 76 " 50 40 30 29 18 MC ATC 1234567H0 11 12 13 14 Output per period O a Loss of $90 O b. Profit of $180 O c. 50 Od. Profit of $6300 The Competitive Industry and Firm Refer to the figure above to answer this question for a representative firm in a perfectly competitive market. Suppose that the market price is $70. What is the firm's maximum profit (or minimum loss)?
- 2. Cost-Volume-Profit Chart The cost-volume-profit chart shows the relationship between sales volume, costs, and profit. To cre this chart, we need to calculate the following values: - Contribution Margin per Unit: Selling Price - Variable Cost per Unit - Contribution Margin Ratio: Contribution Margin per Unit / Selling Price - Break-Even Point: Fixed Costs / Contribution Margin per Unit - Profit: (Unit Sales * Selling Price) - (Unit Sales * Variable Cost per Unit) - Fixed Costs For the first 100 units of clever wearable devices, we can calculate these values as follows: - Contribution Margin per Unit: $150 $50 = $100 - Contribution Margin Ratio: $100/$150 = 0.67 or 67% - Break-Even Point: $10,000/$100 = 100 units - Profit: (Unit Sales $150) - (Unit Sales * $50) - $10,000 We can plot these values on a graph with unit sales on the x-axis and revenue, costs, and profit on the y-axis.Based on the table, what price does John's Tricycle Company charge for a tricycle?1. A certain computer company produces three kinds of computers, labelled A, B and C. This computer company has three factories, labelled 1, 2 and 3. The profit for each computer, the in-process space needed to produce each computer, and the market demand per day is indicated below: A B C 350 550 300 Product: Profit ($): In-process space (ft2): 20 Market demand/ day: 900 1200 750 15 10 As long as the number of computers produced are not more than the market demand, they will be sold. The three factories have the following production space: 2 3 Factory: Production space (ft2): 13000 12000 5000 1 (a) Identify variables for the optimization problem (b) Write down the objective function (c) Write down the constraints for production space (d) Write down the constraints for market demand. (e) Write down any other constraints needed to complete the optimization problem
- no handwritten notesD Question 3 Which of the following statements is correct. (select all that apply) The margin refers to the additional percentage of the original price that the retailer charges for the product The markup refers to the percentage of the retail price that is pocketed by the retailer as profit. None of the answers are correct The markup refers to the additional percentage of the original price that the retailer charges for the product The margin refers to the percentage of the retail price that is pocketed by the retailer as profit.|Price Demanded Revenue Revenue Marginal Cost Cost $24 1000 $24,000 ** $15,000 ** ** ** $22 1250 $27,500 $14 $17,000 $8 $20 1500 $10 $19,500 $10 $18 1750 $31,500 Y $23,000 $14 $16 2000 $32,000 $2 $27,000 Z (a) Calculate total revenue at X. (b) Calculate marginal revenue at Y. (c) Calculate marginal cost at Z. (d) Find the profit maximizing price. (e) Find the profit maximizing quantity. (f) Find the profit the firm will earn.
