Undergraduate students:£9,000Total Cost Functions for UndergraduateStudents£8,000£7,000£120,000,000£6,000f100,000,000£5,000MC£80,000,000£4,000FAC£60,000,000£3,000£40,000,000£2,000£20,000,000£1,000£0£02,7505,5008,25011,00013,75016,5005,00010,00015,00020,000TCGraduate students:Total Cost Functions for Graduate Students£14,000£30,000,000£12,000£25,000,000£10,000£20,000,000£8,000£15,000,000MC£6,000FAC£10,000,000£5,000,000£4,000£0£2,0005501,1001,6502,2002,7503,300-- TC£0500100015002000250030003500 Q 4: Answer the questions below using the following Table (you can also take help from the Figures ifneeded):MC ($)7,2596,5485,8385,1254,4173,706MC ($)6,5416,8217,102Total cost ($)105,311,250202,070,000StudentsAC ($)Undergraduate13,75027,50041,25055,00068,75082,500Students7,6597,3487,0386,7276,4176,106369,985,000441,168,750503,745,000Total cost ($)AC ($)Graduate2,7505,5008,25011,00013,75016,50012,14033,385,0009,3998,6728,3658,2498,22851,697,0007,3837,6647,94592,015,000113,423,750135,762,000(a)IDENTIFY and EXPLAIN differences between the universities' cost structures forundergraduate and graduates?(b)The new Vice Chancellor has asked you for advice on whether she should consolidate orexpand the programs. Provide your advice using the information in the table.(c)What is the effect of the introduction of a license fee of 9 million dollars by the governmentfor undergraduate programs being offered by universities on the zero-profit curve for theseprograms? Use relevant plots in your answer.

The MC of graduate students rises rapidly which means MC falls at a diminishing rate. As MC rises…

Q 4: Answer the questions below using the following Table (you can also take help from the Figures if needed): М ($) 7,259 6,548 5,838 5,125 AC ($) 7,659 7,348 7,038 6,727 6,417 6,106 Total cost ($) 105,311,250 202,070,000 Students 13,750 27,500 41,250 55,000 68,750 82,500 Students Undergraduate 4,417 3,706 MC ($) 6,541 6,821 7,102 7,383 7,664 7,945 369,985,000 441,168,750 503,745,000 Total cost ($) 33,385,000 51,697,000 AC ($) 2,750 5,500 8,250 11,000 Graduate 12,140 9,399 8,672 8,365 92,015,000 13,750 16,500 8,249 8,228 113,423,750 135,762,000 (а) IDENTIFY and EXPLAIN differences between the universities' cost structures for undergraduate and graduates? (b) The new Vice Chancellor has asked you for advice on whether she should consolidate or expand the programs. Provide your advice using the information in the table. (c) What is the effect of the introduction of a license fee of 9 million dollars by the government for undergraduate programs being offered by universities on the zero-profit curve for these programs? Use relevant plots in your answer.

Q 4: Answer the questions below using the following Table (you can also take help from the Figures if needed): М ($) 7,259 6,548 5,838 5,125 AC ($) 7,659 7,348 7,038 6,727 6,417 6,106 Total cost ($) 105,311,250 202,070,000 Students 13,750 27,500 41,250 55,000 68,750 82,500 Students Undergraduate 4,417 3,706 MC ($) 6,541 6,821 7,102 7,383 7,664 7,945 369,985,000 441,168,750 503,745,000 Total cost ($) 33,385,000 51,697,000 AC ($) 2,750 5,500 8,250 11,000 Graduate 12,140 9,399 8,672 8,365 92,015,000 13,750 16,500 8,249 8,228 113,423,750 135,762,000 (а) IDENTIFY and EXPLAIN differences between the universities' cost structures for undergraduate and graduates? (b) The new Vice Chancellor has asked you for advice on whether she should consolidate or expand the programs. Provide your advice using the information in the table. (c) What is the effect of the introduction of a license fee of 9 million dollars by the government for undergraduate programs being offered by universities on the zero-profit curve for these programs? Use relevant plots in your answer.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question 22
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Explicit cost = $100 Implicit cost = $163 Total cost = ?
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