PRINT YOUR NAME (LAST) (FIRST) Aggregate Cost Data Unit Cost Data i Average Average Average IFixed Cost Variable Total Cost Cost VC TC Q Marginal Quantity Fixed Variable Total Change inI Cost Cost of Output (FC) (VC) Cost Total Cost I FC (TC) (ATC) Plot MC at Output Cost ATC Q $600 $ 0 $ 600 I XX XX XX XX $3.00 $300 50 100 600 300 900 I $6.00 $3.00 $9.00 100 1.00 150 200 600 400 | 3.00 2.00 5.00 50 .50 250 300 1050 2.00 1.50 1.00 350 400 1150 1.50 1.38 2.88 200 2.00 450 500 600 750 1350 1.20 1.50 - 550 600 600 1200 1800 3.00 10.00 650 700 2200 2800 .85 3.15 PLOT THE APPROPRIATE DATA FROM THE PRECEDING TABLE ON THE GRAPHS ON P. 134 AND 135 BEFORE ANSWERING THE EIGHT QUESTIONS BELOW. QUESTIONS 5-8 ARE ON PAGE 136. 1. How is marginal cost (ATC/AQ) represented in your graph on page 134? 2. On your graph on page 135 Variable Cost per unit (VC/Q or average variable cost) is at a minimum at an output level of units. 3. On your graph on page 135 Total Cost per unit (TC/Q or average total cost) is at a minimum at an output level of units. 4. On your graph on page 135 what is the relation between marginal cost (ATCIAQ) and average total cost (TC/Q) when average total cost is at its minimum?

PRINT YOUR NAME (LAST) (FIRST) Aggregate Cost Data Unit Cost Data i Average Average Average IFixed Cost Variable Total Cost Cost VC TC Q Marginal Quantity Fixed Variable Total Change inI Cost Cost of Output (FC) (VC) Cost Total Cost I FC (TC) (ATC) Plot MC at Output Cost ATC Q $600 $ 0 $ 600 I XX XX XX XX $3.00 $300 50 100 600 300 900 I $6.00 $3.00 $9.00 100 1.00 150 200 600 400 | 3.00 2.00 5.00 50 .50 250 300 1050 2.00 1.50 1.00 350 400 1150 1.50 1.38 2.88 200 2.00 450 500 600 750 1350 1.20 1.50 - 550 600 600 1200 1800 3.00 10.00 650 700 2200 2800 .85 3.15 PLOT THE APPROPRIATE DATA FROM THE PRECEDING TABLE ON THE GRAPHS ON P. 134 AND 135 BEFORE ANSWERING THE EIGHT QUESTIONS BELOW. QUESTIONS 5-8 ARE ON PAGE 136. 1. How is marginal cost (ATC/AQ) represented in your graph on page 134? 2. On your graph on page 135 Variable Cost per unit (VC/Q or average variable cost) is at a minimum at an output level of units. 3. On your graph on page 135 Total Cost per unit (TC/Q or average total cost) is at a minimum at an output level of units. 4. On your graph on page 135 what is the relation between marginal cost (ATCIAQ) and average total cost (TC/Q) when average total cost is at its minimum?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

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
If average cost is incresing as output expands, a marginal cost equals average cost b marginal cost exceeds average cost c marginal cost is less than average cost d not enough information
Output AFC AVC ATC MC 1 300 100 400 100 2 150 75 225 50 3 100 70 170 60 4 75 73 148 80 5 60 80 140 110 6 50 90 140 140 7 43 103 146 180 8 38 119 156 230 9 33 138 171 290 10 30 160 190 360 Refer to the chart above. The total fixed costs are what?
Only typed answer
Bags/Participants Fixed Cost Variable Cost Total Cost 0 $1,700 $ - $1,700 100 $1,700 $500 $2,200 200 $1,700 $1,200 $2,900 300 $1,700 $2,700 $4,400 400 $1,700 $5,200 $6,900 500 $1,700 $9,000 $10,700 600 $1,700 $15,000 $16,700 700 $1,700 $23,800 $25,500 800 $1,700 $36,800 $38,500 900 $1,700 $55,800 $57,500 1,000 $1,700 $83,000 $84,700 Given the above information on cost, if you charge $15 per entry, what is the breakeven quantity of bags that you should order? At what quantity of bags will profits be maximized? A Use the profit maximizing rule, MR ≥ MC, buy 300 bags. B Use the profit maximizing rule, MR ≥ MC, buy 200 bags. C Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 300. D Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 200.
1,200 B TC 1,000 850 700 TVC A 500 2 3 Number of microwave ovens 6. Refer to the figure above. Based on the information shown, the average fixed costs of producing two units of output are: 500 Cost in dollars
Use the cost and revenue data to answer the questions. Quantity Price Total Revenue Total Cost 10 90 900 675 15 80 1200 825 20 70 1400 25 60 1500 30 50 1500 35 40 1400 1025 1250 1500 1850
i need the answer quickly
Calculate and plot the following: No of units Total cost 0 2 1 9 2 12 3 15 4 20 5 30 6 42 Variable cost Fixed cost Average fixed cost Average variable cost Marginal cost
variable fixed cost cost average total cost variable cost marginal total revenue marginal total cost wt price $20 revenue profit 1700 0 1700 0 0 -1700 1700 500 2200 5 5 2000 20 -200 1700 1200 2900 6 7 4000 20 1100 1700 2700 4400 9 15 6000 20 1600 1700 5200 6900 13 25 8000 20 1100 1700 9000 10700 18 38 10000 20 -700 1700 15000 16700 25 60 12000 20 -4700 1700 23800 25500 34 88 14000 20 -11500 1700 36800 38500 46 130 16000 20 -22500 1700 55800 57500 62 190 18000 20 -39500 1700 83000 84700 83 272 20000 20 -64700
For each lettered space in the following table, determine the appropriate dollar amount.
Please solve with proper explanation and calculation