\table [[\table[[Toul], [predued]], \table[[Averase], [fixed], [cest]], \table[[Averago], [variah b], [cont]], \table[[Awerage], [ totel], [eand]], \table [[Marginal], [cast]]], [1, 810000, $17.00, $11700, 117], [2, 50.00, 1600, 6600, is], [3, 3333, is 00, 4833, is ].[4.2500, 1425, 3925, 12], [3, 20.00, 1400, 34.00, 13], [6, 16.67, 1400, 30.67, 14], [7, 1420, 1571, 5. 0.00, 26], [s, 1250, 1750, $0.00, 30], [9.11.11, 19.44, 30.55, 35], [10, 10.00, 21.60, . 60, 41], [11, 900, 2400, 209, 48], [12, 833, 26.67, 3500, 56]] [To recelve eredie, you must ahow all calculaches asd Meps taken accordiag wo the preth - max probedure we dhcussed in clasis. a. If the market price bor the firm's output is $12 per unit, will this firm produse in the short rust if it boes prodoos, what b. Answer querions is part (a) asoming thet the prodact peice is $28 per unit. c. Answer the questions in part (a) asaming that the produet price is $32 per unit. Toni Jwerage fixed werage variable Average Marginal product cest cost cast $100.00 $17.00 $117.00 $17 2 50.00 16.00 66.00 15 33.33 15.00 48.33 13 4 25.00 1425 39.25 12 20.00 1400 34.00 13 16.67 1400 30.67 14 7 14.29 1571 30.00 26 12.50 17.50 30.00 30 9 11.11 1944 30.55 35 10 10.00 21.60 31.60 41 11 9.09 24.00 33.09 48 12 8.33 26.67 35.00 56 To receive credits, you must show all calculations and steps taken according to the profit-max procedure we discussed in class. a. If the market price for the firm's output is $12 per unit, will this firm produce in the short run? If it does produce, what will be the profit-maximizing or loss-minimizing output? What amount of economic profit or loss will it realize? b. Answer questions in part (a) assuming that the product price is $28 per unit. c. Answer the questions in part (a) assuming that the product price is $32 per unit.
\table [[\table[[Toul], [predued]], \table[[Averase], [fixed], [cest]], \table[[Averago], [variah b], [cont]], \table[[Awerage], [ totel], [eand]], \table [[Marginal], [cast]]], [1, 810000, $17.00, $11700, 117], [2, 50.00, 1600, 6600, is], [3, 3333, is 00, 4833, is ].[4.2500, 1425, 3925, 12], [3, 20.00, 1400, 34.00, 13], [6, 16.67, 1400, 30.67, 14], [7, 1420, 1571, 5. 0.00, 26], [s, 1250, 1750, $0.00, 30], [9.11.11, 19.44, 30.55, 35], [10, 10.00, 21.60, . 60, 41], [11, 900, 2400, 209, 48], [12, 833, 26.67, 3500, 56]] [To recelve eredie, you must ahow all calculaches asd Meps taken accordiag wo the preth - max probedure we dhcussed in clasis. a. If the market price bor the firm's output is $12 per unit, will this firm produse in the short rust if it boes prodoos, what b. Answer querions is part (a) asoming thet the prodact peice is $28 per unit. c. Answer the questions in part (a) asaming that the produet price is $32 per unit. Toni Jwerage fixed werage variable Average Marginal product cest cost cast $100.00 $17.00 $117.00 $17 2 50.00 16.00 66.00 15 33.33 15.00 48.33 13 4 25.00 1425 39.25 12 20.00 1400 34.00 13 16.67 1400 30.67 14 7 14.29 1571 30.00 26 12.50 17.50 30.00 30 9 11.11 1944 30.55 35 10 10.00 21.60 31.60 41 11 9.09 24.00 33.09 48 12 8.33 26.67 35.00 56 To receive credits, you must show all calculations and steps taken according to the profit-max procedure we discussed in class. a. If the market price for the firm's output is $12 per unit, will this firm produce in the short run? If it does produce, what will be the profit-maximizing or loss-minimizing output? What amount of economic profit or loss will it realize? b. Answer questions in part (a) assuming that the product price is $28 per unit. c. Answer the questions in part (a) assuming that the product price is $32 per unit.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![\table [[\table[[Toul], [predued]], \table[[Averase], [fixed], [cest]], \table[[Averago], [variah b], [cont]], \table[[Awerage], [
totel], [eand]], \table [[Marginal], [cast]]], [1, 810000, $17.00, $11700, 117], [2, 50.00, 1600, 6600, is], [3, 3333, is 00, 4833, is
].[4.2500, 1425, 3925, 12], [3, 20.00, 1400, 34.00, 13], [6, 16.67, 1400, 30.67, 14], [7, 1420, 1571, 5. 0.00, 26], [s, 1250, 1750,
$0.00, 30], [9.11.11, 19.44, 30.55, 35], [10, 10.00, 21.60, . 60, 41], [11, 900, 2400, 209, 48], [12, 833, 26.67, 3500, 56]] [To
recelve eredie, you must ahow all calculaches asd Meps taken accordiag wo the preth - max probedure we dhcussed in
clasis. a. If the market price bor the firm's output is $12 per unit, will this firm produse in the short rust if it boes prodoos,
what b. Answer querions is part (a) asoming thet the prodact peice is $28 per unit. c. Answer the questions in part (a)
asaming that the produet price is $32 per unit.
Toni
Jwerage
fixed
werage
variable
Average
Marginal
product
cest
cost
cast
$100.00
$17.00
$117.00
$17
2
50.00
16.00
66.00
15
33.33
15.00
48.33
13
4
25.00
1425
39.25
12
20.00
1400
34.00
13
16.67
1400
30.67
14
7
14.29
1571
30.00
26
12.50
17.50
30.00
30
9
11.11
1944
30.55
35
10
10.00
21.60
31.60
41
11
9.09
24.00
33.09
48
12
8.33
26.67
35.00
56
To receive credits, you must show all calculations and steps taken according to the profit-max procedure we
discussed in class.
a. If the market price for the firm's output is $12 per unit, will this firm produce in the short run? If it does produce, what
will be the profit-maximizing or loss-minimizing output? What amount of economic profit or loss will it realize?
b. Answer questions in part (a) assuming that the product price is $28 per unit.
c. Answer the questions in part (a) assuming that the product price is $32 per unit.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6a15ad64-80b6-40b1-9ce2-f4b4a800c4fe%2F46be67fb-01df-4a14-98c3-e2fdc7823100%2Fc03863_processed.jpeg&w=3840&q=75)
Transcribed Image Text:\table [[\table[[Toul], [predued]], \table[[Averase], [fixed], [cest]], \table[[Averago], [variah b], [cont]], \table[[Awerage], [
totel], [eand]], \table [[Marginal], [cast]]], [1, 810000, $17.00, $11700, 117], [2, 50.00, 1600, 6600, is], [3, 3333, is 00, 4833, is
].[4.2500, 1425, 3925, 12], [3, 20.00, 1400, 34.00, 13], [6, 16.67, 1400, 30.67, 14], [7, 1420, 1571, 5. 0.00, 26], [s, 1250, 1750,
$0.00, 30], [9.11.11, 19.44, 30.55, 35], [10, 10.00, 21.60, . 60, 41], [11, 900, 2400, 209, 48], [12, 833, 26.67, 3500, 56]] [To
recelve eredie, you must ahow all calculaches asd Meps taken accordiag wo the preth - max probedure we dhcussed in
clasis. a. If the market price bor the firm's output is $12 per unit, will this firm produse in the short rust if it boes prodoos,
what b. Answer querions is part (a) asoming thet the prodact peice is $28 per unit. c. Answer the questions in part (a)
asaming that the produet price is $32 per unit.
Toni
Jwerage
fixed
werage
variable
Average
Marginal
product
cest
cost
cast
$100.00
$17.00
$117.00
$17
2
50.00
16.00
66.00
15
33.33
15.00
48.33
13
4
25.00
1425
39.25
12
20.00
1400
34.00
13
16.67
1400
30.67
14
7
14.29
1571
30.00
26
12.50
17.50
30.00
30
9
11.11
1944
30.55
35
10
10.00
21.60
31.60
41
11
9.09
24.00
33.09
48
12
8.33
26.67
35.00
56
To receive credits, you must show all calculations and steps taken according to the profit-max procedure we
discussed in class.
a. If the market price for the firm's output is $12 per unit, will this firm produce in the short run? If it does produce, what
will be the profit-maximizing or loss-minimizing output? What amount of economic profit or loss will it realize?
b. Answer questions in part (a) assuming that the product price is $28 per unit.
c. Answer the questions in part (a) assuming that the product price is $32 per unit.
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