TC 1 $27 $10 2 24 17 32 4 18 47 5 15 67 long-run equilibrium and price equals average total cost. long-run equilibrium and price is less than average total cost. short-run equilibrium and price is greater than average total cost. short-run equilibrium and incurs an economic loss. short-run equilibrium and there is zero economic profit. 21 P. LO

TC 1 $27 $10 2 24 17 32 4 18 47 5 15 67 long-run equilibrium and price equals average total cost. long-run equilibrium and price is less than average total cost. short-run equilibrium and price is greater than average total cost. short-run equilibrium and incurs an economic loss. short-run equilibrium and there is zero economic profit. 21 P. LO

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If Soltani factory produces 1000 pieces of products, its total cost is equal to 50,000 monetary units, and if it produces 2,000 pieces of the same product, its total cost is equal to 80,000 monetary units. If each product is sold at a price of 40 monetary units, it is desirable: a. By drawing a diagram, specify the breaking point for it. B. If we want to make a profit equal to 20,000 units by selling 2500 pieces of product, what should be the variable cost? Use equations below: F Profit(P) = pQ - (F + vQ) TR=pQ TC=F+vQ Q=F/(p-v)
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60 MC 40 АТС AVC 20 50 100 150 Quantity efer to the graph shown above. Assume the price is $30. - What is this firm's profit maximizing output level? - What is the firm's profit-maximizing price?
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2. The following table depicted a computer manufacturer's total cost of producing computer: Quantity Price 500,000 1 540,000 2 560,000 3 570,000 590,000 620,000 6 660,000 7 720,000 8 800,000 920,000 10 1,100,000 d)On one diagram, draw the manufacturer's AVC, ATC, and MC curves.
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(a) What is the profit-maximizing level of output and how much daily profit will the producer below earn if the price of pizza is $ 2.50 per slice? MC S/lice ATC AVe 2.50 1.40 slices/day S70
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