Refer to the table below. The table shows Long-Run Total Costs Quantity 1 2 4 6 7 Firm 1 $180 $280 $470 $680 $890 $1,200 $1,510 Firm 2 $120 $250 $390 $540 $700 $870 $1,050 Firm 3 $150 $300 $450 $600 $750 $900 $1,050 Firm 4 $210 $340 $490 $620 $850 $1,060 $1,290 Firm 4's efficient scale occurs at what quantity? 2 4 O O

Refer to the table below. The table shows Long-Run Total Costs Quantity 1 2 4 6 7 Firm 1 $180 $280 $470 $680 $890 $1,200 $1,510 Firm 2 $120 $250 $390 $540 $700 $870 $1,050 Firm 3 $150 $300 $450 $600 $750 $900 $1,050 Firm 4 $210 $340 $490 $620 $850 $1,060 $1,290 Firm 4's efficient scale occurs at what quantity? 2 4 O O

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The explicit cost of the firm is $800, implicit cost is $550 and the total revenue is $3000 Calculate the economic profit
Total Output 1 2 3 4 5 6 7 80 9 10 A B 8 D $20; $27.33 $10; $10.40 $24; $27.33 Price $30; $20.50 $100 90 80 70 60 50 40 30 20 Marginal Revenue 10 $100 80 60 40 20 -20 -40 -60 Average Total Cost -80 $100.00 63.00 52.67 49.50 49.60 50.00 52.29 55.75 60.67 67.60 130 Refer to the data for a nondiscriminating monopolist. At its profit-maximizing output, this firm's price will exceed its marginal cost and its average total cost by_ by $30 26 32 Marginal Cost 40 50 52 66 80 100
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Total Revenue Total C ost Proit/Loss/ Price( P) Quantity (TR) (TC) Break Even $3 5. 2 9. 3 8. 4 11 5. 15 6. 21 30 8. 42 6. 60 10 85 Yummy Cupcakes is a purely competitive firm. The firm's costs are shown in the table above. The market price is $5 (USE THIS TO FILL IN THE PRICE COLUMN) When Yummy Cupcakes produces 1 cupcakel Q-1).the firm : O breaks even incurs a loss O earns profits will shutdown
Please see the attached7
Assume the following cost data are for a purely competitive producer Total Product AFC AVC ATC MC 0 1 $60 $45 $105 $45 2 $30 $42.50 $72.50 $40 3 $20 $40 $60 $35 4 $15 $37.50 $52.50 $30 5 $12 $37 $49 $35 6 $10 $37.50 $47.50 $40 7 $8.57 $38.57 $47.14 $45 8 $7.50 $40.63 $48.13 $55 9 $6.67 $43.33 $50 $65 10 $6.00 $46.50 $52.50 $75 In the table below, complete the short run supply schedule for the firm (columns 1 and 2) and indicate the profit or loss incurred at each output (column 3) 1 2 3 4 Price Quantity supplied, single firm Profit (+) or loss (-) Quantity supplied, 1500 firms $26 $32 $38 $41 $46 $56 $66
Question 12 of 20 $20 MC $18 $16 $14 ATC $12 AVC $10 $8 $6 $4 $2 $0 20 40 60 80 100 Output (Q) In the diagram above, when the firm's Output (Q) is 60, Average Total Cost (ATC) is: $14.00 $18.00 $11.00 O $12.50
Q3 need in 10 minutes
Quantity of Radios Total Variable Cost Total Cost 0 $25 1 $13 $38 2 $28 3 $70 4 $64 5 $110 6 $108 7 $133 8 $185 The fixed costs of production for this firm are: Group of answer choices $0 $25 $13 can’t be determined with information provided 2) Quantity of Radios Total Variable Cost Total Cost 0 $25 1 $13 $38 2 $28 3 $70 4 $64 5 $110 6 $108 7 $133 8 $185 The total variable cost of producing 5 radios is: Group of answer choices $190 $110 $90 $85 3) Quantity of Radios Total Variable Cost Total Cost 0 $25 1 $13 $38 2 $28 3 $70 4 $64 5 $110 6 $108 7 $133 8 $185 The total cost of producing 7 radios is: Group of answer choices $140 $153 $158 none of these is correct…