a)Is this firm facing profit or loss or breaking cven? B) How much is the proif c) Calculate the total costQ263023201512109OPrice9 1215a)Is this firm facing profit or loss or breaking even?b) How much is the profitc) Calculate the total cost✔MRMCATCDQuantity

The demand curve represents the quantity demanded by consumers at different price levels.The average…

Answered: Q26 30 23 20 15 229 12 10 O Price 9 12…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Similar questions

1- iro % What quantity of output will this profit-maximizing firm choose to sell? units) (Round your response to the nearest whole number) Dellars per Unit 1927 176- 160- 120 112 00 BO 04 10 32 Output MR MC ATC 80 od
Q Price TR AR MR TC MC Profit 0 30 70 5 27 135 10 24 197 15 21 252 20 18 300 25 15 345 30 12 383 35 9 428 40 6 478 45 3 533 50 0 593 Requirements:1. Complete the table above 2. Graph the table completed and graph3. Provide a brief explanation of the firm's behavior to set production at 20 units at the price of P18 per unit.
The graph shows the short-run cost curves of a toy producer. The market has 1,000 identical toy producers. The market price of a toy is $21. In the short run, the firm produces toys a week. 24- 21- 18- 15- 12- 9- 0 500 1000 1500 2000 MC ATC AVC 2500
100 90 80 70 60 ATC 50 40 30 20 AVC МС О 10 + 0 0 5 10 15 20 30 35 40 45 50 QUANTITY (Thousands of shirts) or each price in the following table, use the graph to determine the number of shirts this firm would produce in order to maximize its profit. Assume hat when the price is exactly equal to the average variable cost, the firm is indifferent between producing zero shirts and the profit-maximizing uantity. Also, indicate whether the firm will produce, shut down, or be indifferent between the two in the short run. Lastly, determine whether it will nake a profit, suffer a loss, or break even at each price. Price Quantity (Dollars per shirt) (Shirts) Profit or Loss? Produce or Shut Down? Shut down 10 20,000 Loss Shut down 20 10,000 Loss Shut down 32 5,000 Loss Either 0 or 37,500 Shut down 40 Loss 25 COSTS (Dollars)
Consider the graph of demand (D), marginal revenue (MR), marginal cost (MC), average total cost (ATC), and average variable cost (AVC) for a monopolistically competitive firm. Please point E to label the profit-maximizing price and quantity for the firm. Price ($) 10 9 8 7 6 4 3 2 1 0 0 K MR 10 20 MC 30 ATC AVC E D 40 50 60 70 80 90 100 Quantity
AVC, 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)?
What would the price per unit be if the firm in the figure below is producing the number of outputs that will maximize its profit? MC cost per unit £20 K £15 £10 Demand MR 50 100 150 Price and O £10 O £25 OO £15 £25 O £20 ATC Quantity
Price 2000 Multiple Choice MC P₂ ATC AVC g.opp. 9₂ Quantity Refer to the accompanying diagram. The firm will realize an economic profit if price is MP₂ MP₂ MP,
Consider the following graph: Price and cost (per necklace) 200.00 240.00 220.00- 200.00 180.00 160.00- 140.00 120.00- 100.00 80.00 60.00 40.00- 20.00- 0.00+ -N 2 14 MC What is the maximum profit for the firm? D ATC MR 8 10 12 14 16 18 20 22 24 26 Quantity (diamond necklaces)
The number of chairs that Cooper's Millworks can sell per day is given by the table below. Tables Sold Daily. Price Total Revenue Marginal Revenue Average Revenue 1 2 3 300 280 260 What is the missing value A? Answer: 300 560 A 300 260 B 110 280 C
O O Price (dollars) 160 120 8 40 0 2 4 Quantity According to the figure above, the total cost of producing 5 units is $24 $80 $8 $120 $40
QUESTION 6 Table of a perfectly comptetitive firm COSTS Quantity Total Produced Cost SO 1 2 3 4 5 7 8 $50 $102 $157 $217 $285 $365 $462 $582 O b.S0 O c. $80 O d. $68 Marginal Cost REVENUES Quantity Demanded Price $80 $80 0 1 2 3 4 5 7 8 $80 $80 $80 $80 $80 $80 $80 Total Revenue Refer to Table. What will be the average revenue for this firm when they sell 4 units? O a. $400 Marginal Revenue QUESTION 7 A perfectly competitive firm produces where O a marginal cost equals price, while a monopolist produces where price exceeds marginal cost. O b. price exceeds marginal cost, while a monopolist produces where marginal cost equals price. O c. marginal cost exceeds price, while a monopolist produces where marginal cost equals price. d. marginal cost equals price, while a monopolist produces where marginal cost exceeds price.

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Q26 30 23 20 15 229 12 10 O Price 9 12 15 a)Is this firm facing profit or loss or breaking even? b) How much is the profit c) Calculate the total cost MR MC ATC D Quantity