suppose in the short run the amount of machines she has is fixed at 27. How many mixers should she use? How many baklavas will she produce? How much profit will she make? b) using an isoprofit line, as well as the production function, draw a diagram of your solution from a). Carefully label all the slopes and intercepts. c) In the long run, how many mixers should she use? How many machines? How many baklavas will she make?

Q: Suppose that the fixed cost for a product is $200 and the break-even quantity is 50. find the…

A: The marginal profit will be computed as the selling price per unit, minus the variable cost per…

Q: Suppose a shoes factory makes 100 pairs of shoes. At this level of production, they have $25 in…

A: Output(Q)=100 units AVC(Q=100)=$25 ATC(Q=100)=$32 TFC(Q=100)=? We know that: Average Fixed Cost is…

Q: Douglas Fur is a small manufacturer of fake-fur boots in Chicago. The following table shows the…

A: Average total cost (ATC) is calculated by dividing total cost by the total quantity produced.…

Q: The curves in this figure reflect information about the average total cost, average fixed cost,…

A: Answer to the question is as follows:

Q: The above cost curves are for a firm producing flour, which is measured in pounds.  1. What is the…

A: A cost curve is a graph that shows the costs of production as a function of the overall quantity…

Q: This is a graph of our firm’s costs. Label the lines on the graph using the following labels:…

A: Cost of production is those costs which are incurred by the manufacturer for manufacturing the…

Q: A firm’s cost function is C(q) = 100q − q^2+1/5q^3+450 (a) Derive the marginal cost, the average…

A: Cost is the expenditure incurred on the production of goods and services.

Q: The table gives some of the costs of the Delicious Pie Company. The marginal cost per pie of…

A: Here, the given table provides information about total variable cost and total cost at different…

Q: In a furniture market, if a furniture company is analyzing the short run total costs, one of the…

A: Here, it is given that a firm in the furniture market is analyzing its short-run total cost.…

Q: What is the marginal cost of producing the third unit of output? (Correct answer is $24)

A: Marginal cost is the additional cost that is incurred on production of an additional unit of output.…

Q: Noah and Naomi want to produce 300 garden benches per week in two production plants. The cost…

A: The cumulative production across various production units is 300 units.The cost function in firm 1…

Q: A price-taking firm makes air conditioners. The market price of one of its new air conditioners is…

A: Airconditioner per day to maximize profit= 2 per day Marginal costs are follow as presented in the…

Q: Suppose the cost function for a firm is given by C(q) = 200 + 5q. Then: 1. Find fixed cost 2. find…

A: Cost of production occurs while producing goods and services in the economy. The production of these…

Q: TOTAL COST AND REVENUE (Dollars) Suppose Lorenzo runs a small business that manufactures teddy…

A: According to the question, there is Perfect Competition market condition because firm is a price…

Q: Gooey Bites sells snack packs for $3 per pack. Variable expenses involved in producing snack packs…

A: The total cost function is the aggregate of all fixed and variable costs incurred in the process of…

Q: Suppose that the market for microwave ovens is a competitive market. The following graph shows the…

A: Industrial economics is the study and appraisal of business financial issues utilizing abstract…

Q: The figure illustrates the short-run cost curves for a company that produces cell phones Identify…

A: The total cost curve represents the relationship between total cost and the level of output. The…

Q: Sergio Lopez is a publisher of Latin American poetry.  His fixed cost is $525, and the cost to…

A: Fixed cost is $525, and the cost to produce each individual copy of his book is $3.50.   A linear…

Q: Which of the costs discussed in the chapter is the most important when a firm is deciding how much…

A: The analysis of all costs is necessary for a firm. But analyzing marginal cost is most important.…

Q: e) In the following diagram of cost curves, how many short runs have been created? State and explain…

A: Average short run curve: It refers to the curve which is a U shaped curve. It decreases the average…

Q: Suppose Honda's total cost of producing 4cars is $225000and its total cost of producing 5cars is…

A: Given, Total cost of producing 4 cars = $225000 Total cost of producing 5 cars = $ 250000

Q: We expect the marginal cost to increase as this firm produces more computers. But when the firm…

A: The rise or fall in the cost of producing/providing one more product is referred to as marginal…

Q: Fill in the remaining cells of the following table. Quantity Total Cost Marginal Cost Fixed Cost…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: Evaluate the view that the main goal of firms will always be cost minimization.  You are interested…

A: 1) The main goal of the firm is cost minimization. This is because if the firm minimises the cost,…

Q: A watch manufacturer finds that at 1,000 units of output, its marginal costs are below average total…

A: In business, the average total cost, or ATC, is the sum of all product costs divided by the volume…

Q: Short-run average total cost      shows the minimum average total cost for each level of output…

A: Answer: Correct option: option 4 (might have a flat portion that indicates a constant average cost…

Q: Ebba Kantzen says the following: "I am currently producing 10,000 pizzas per month at a total cost…

A: Cost can be defined as a concept that shows the amount of expenditure and any other sacrifice such…

Q: The table below shows the weekly cost of producing cowboy hats. Complete the table by filling in the…

A: Total Cost = Total Variable cost + Total Fixed CostAverage Fixed cost = Total Fixed Cost / Quantity…

Q: Pretty Designs, Inc. makes flower pots. Suppose that their average total cost of production is $60…

A: Suppose the average total cost of 5 flower pots is $60. The marginal cost of the sixth flower pot is…

Q: The table below shows the short-run cost data of a perfectly competitive firm that produces plastic…

A: The profit maximizing output level arises at quantity level where the marginal revenue equals the…

Q: The WipeOut Ski Company manufactures skis for beginners. Fixed costs are $30. Fill in Table 7.16 for…

A: Total Cost is the sum of fixed and variable cost.  Average total cost(ATC) is per unit of total…

Q: Month (m): 4 Day (d): 1 Use the two numbers…

A: Fixed cost is that cost which are not depend on the quantity. It's remains same at any output level.…

Q: he Information in the graph to the right to find the values for the following at an ut level of 50.…

A: Fixed cost is independent of output produced whereas variable cost varies with the level of…

Q: 3. A firm's total cost is TC = Q³ - 60Q² +910Q + 150, and its marginal cost is 3Q² - 1200 + 910 a.…

A: Total Cost = Q³ - 60Q² +910Q + 150,Marginal Cost = 3Q² - 1200 + 910

Q: What is the firm’s total variable cost at this level of output?   $    e. What is the firm’s…

A: A shutdown stage is a level of functions at which a company experiences no profit for continuing…

Q: Bob the Builder is currently producing 20 bookshelves at à total cost of $2,000. His average…

A: The fixed cost is constant regardless of price and quantity e.g. rent. It is also known as indirect…

Q: A firm has a fixed production cost of $4000. For the first 100 units of production, the firm has a…

A: Given Information: Fixed cost = $4000 For the first 100 units, the marginal cost = $50 per unit…

Q: In the short run, a firm's total costs of producing 100 units of output equal $10,000. If it…

A: The firms, and businesses are the entities who are involved in the production activities, and the…

Q: depict a ATC curve, one where the firm has negative profits (π < 0) at the profit maximizing output…

A:

Q: Suppose that the Acme Gumball Company has a fixed proportions production function that requires it…

A: Part 1: Answera. The cost per hour of producing 1,000 gumballs is represented by the equation 2v +…

Q: Given that the variable cost is $25 per customer, with a fixed cost of $200, he needs to fnd which…

A: Fixed cost are the cost that does not change with the change in output.  Variable cost are the cost…

Q: 2. Suppose that you have been hired as a consultant to a firm that has estimated its demand curve to…

A: Demand: P = 600-3QTotal Cost: TC = 3200+50Q+2Q2

Q: 7) What is the relationship between AFC, AVC & ATC? How are these calculated? 8) A firms produces an…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: The

A: This table shows three short - run cost schedules for three plants of different sizes and find long…