Table #1: The following table presents cost and revenue information for Soper's Port Vineyard.OutputProducedMarginalRevenueTotal Cost Marginal CostQuantityDemandedPriceTotal Revenue100XXXXXXXXXXX$80$0XXXXXXX1150$501$80$80$80202$52$80$160$80257$553$80$240$803$80$320$4004317$604$80$80$80385$685$80$80$4806.465$80$560$80$80$807562$977$640$80682$1208.8.Refer to Table#1. Consumers are willing to pay $80 per unit of port wine. What is the output level of Soper's Port Vineyard to maximize its economic profit?O 6 unitsO 7 unitsO 8 unitsO 5 units

The profit maximizing output condition is:P=MR=MC

Table #1: The following table presents cost and revenue information for Soper's Port Vineyard. Output Produced Quantity Demanded Marginal Revenue Total Cost Marginal Cost Price Total Revenue 100 XXXXXXXXXXX $80 $0 XXXXXXX 1 150 $50 1 $80 $80 $80 202 $52 $80 $160 $80 257 $55 3 $80 $240 $80 3 $60 4 $80 $320 $80 4. 317 $400 $480 $68 $80 $80 385 $80 $80 6. 465 $80 7 $80 $560 $80 7. 562 $97 S80 $640 $80 8. 682 $120 8. Refer to Table#1. Consumers are willing to pay $80 per unit of port wine. What is the output level of Soper's Port Vineyard to maximize its economic profit? O 6 units O 7 units O 8 units O 5 units

Table #1: The following table presents cost and revenue information for Soper's Port Vineyard. Output Produced Quantity Demanded Marginal Revenue Total Cost Marginal Cost Price Total Revenue 100 XXXXXXXXXXX $80 $0 XXXXXXX 1 150 $50 1 $80 $80 $80 202 $52 $80 $160 $80 257 $55 3 $80 $240 $80 3 $60 4 $80 $320 $80 4. 317 $400 $480 $68 $80 $80 385 $80 $80 6. 465 $80 7 $80 $560 $80 7. 562 $97 S80 $640 $80 8. 682 $120 8. Refer to Table#1. Consumers are willing to pay $80 per unit of port wine. What is the output level of Soper's Port Vineyard to maximize its economic profit? O 6 units O 7 units O 8 units O 5 units

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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$150 $145 $140 MC $135 $130 $125 $120 $115 ATC $110 $105 $100 $95 $90 $85 $80 AVC $75 $70 $65 $60 $55 $50 $45 $40 $35 $30 $25 0 1 2 3 5 6 Quantity Produced 7 8 9 10 11 The graph above shows the cost functions for a perfectly competitive profit maximizing firm. If the market price of the product is $70 per unit, the firm will produce units, will cover make an economic profit of dollars. dollars of its fixed cost, and will
please read the question as i have uploauded a question with the same table but different question thank you
The following data describe the firm's monthly demand and monthly costs for a manufacturer of electronic components. 1. Complete the following cost and revenue schedules for this company. Total Average Marginal Marginal Cost per Variable Variable Average Price per Cost per Total Cost Revenue per Cost for Quantity of boxes of per box of box of 1000 units Total box of 1000 box of units Fixed Total box of Revenue units 1000 units 1000 units produced Cost Cost 1000 units 1000 units $0 $800 $800 $1,700 $1,575 $1,450 $1,325 1 $1,028 $1,074 $1,117 $1,184 $1,303 2 3 4 5 $1,200 6. $1,075 $950 $1,498 7 $1,753 8 $825 $2,103 (a) What is the profit maximizing (or loss minimizing) quantity of boxesthat this company should supply? Why? (b) What price will the company charge? How is this price determined? Will this result in economic profits? (c) If the company charged a higher price than what you found in (b) above, what would happen? (d) What market structure do you think this company participates…
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pz answer both are asap fast
|Price Demanded Revenue Revenue Marginal Cost Cost $24 1000 $24,000 ** $15,000 ** ** ** $22 1250 $27,500 $14 $17,000 $8 $20 1500 $10 $19,500 $10 $18 1750 $31,500 Y $23,000 $14 $16 2000 $32,000 $2 $27,000 Z (a) Calculate total revenue at X. (b) Calculate marginal revenue at Y. (c) Calculate marginal cost at Z. (d) Find the profit maximizing price. (e) Find the profit maximizing quantity. (f) Find the profit the firm will earn.
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demand curve, marginal revenue curve and total cost curve for a product are as shown respectively Qd = 400 -2P MR = 200 -Q TC = 10Q . What is the profit-maximising level of output? [1] 0 [2] 10 [3] 190 [4] 200 [5] 400
Price £/unit Figure 9 Cost curves for a price-taker firm Figure 9 shows a price-taker firm, with average cost AC, average variable cost AVC, and marginal cost MC curves. Select the demand curve shown on Figure 9 to represent a firm making only normal profit. Select one: O D1 D3 D₂ D4 MC AC AVC D4 D3 D₂ D₁ Quantity/ week
Table 2- The following table presents cost and revenue information for John's Vineyard.- COSTS- REVENUES Marginal Cost Quantity Total Quantity Total Marginal Produced- Cost Demanded Price Revenne Revenne- 0. 0. 0. 80. 1. 50 1. 80. 2. 102- 2. 80- 3. 157. 3. 80 4- 217. 4. 80- 5. 285 5. 80. 6. 365. 6. 80. 7. 462 7. 80- 8. 582. 8. 80. Refer to Table 2. At what quantity does John's Viney ard maximize profits? A 3 B C 7 D 8. CO
Need help with numbers 7 through 10. Thank you!!