Teacher's Helper is a small company that has a subcontract to produce instructional materials for disabled children in public school districts. The owner rents several small rooms in an office building in the suburbs for $600 a month and has leased computer equipment that costs $480 a month. Output Fixed CostVariable Cost Total Cost Marginal Cost Average Fixed Cost Average Variable CostAverage Total Cost (Instructional modules per month) (Dollars) (Dollars) (Dollars) (Dollars) 0 1,080 1 1,080 400 1480 400 2 450 3 1,350 2,430 4 1,900 (Dollars per unit) (Dollars per unit) (Dollars per unit) 5 2,500 216 6 4,280 700 7 4,100 8 5,400 135 9 7,300 10 10,880 er to Table 13-10. What is the average fixed cost for the month if 9 instructional modules are produced? 475 980 965

Teacher's Helper is a small company that has a subcontract to produce instructional materials for disabled children in public school districts. The owner rents several small rooms in an office building in the suburbs for $600 a month and has leased computer equipment that costs $480 a month. Output Fixed CostVariable Cost Total Cost Marginal Cost Average Fixed Cost Average Variable CostAverage Total Cost (Instructional modules per month) (Dollars) (Dollars) (Dollars) (Dollars) 0 1,080 1 1,080 400 1480 400 2 450 3 1,350 2,430 4 1,900 (Dollars per unit) (Dollars per unit) (Dollars per unit) 5 2,500 216 6 4,280 700 7 4,100 8 5,400 135 9 7,300 10 10,880 er to Table 13-10. What is the average fixed cost for the month if 9 instructional modules are produced? 475 980 965

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 Trouser Company has fixed costs of 2,400 per week. In addition, we have some information about its total costs of production.Output020406080100120140TC2400530067007200770091001200017400a) For each of the output levels in the table, calculate the Trouser Company’s average variable costs (AVC), average (total) cost (AC) and marginal cost (MC).b) Sketch a diagram showing the marginal cost curve, the average variable cost curve, and the firm’s short run supply curve. c) Explain how the firm would maximise its profit, assuming that it faces conditions of perfect competition, in the short run.
Average Fixed Average Average Total Total Product Cost Variable Cost Cost Marginal Cost 1 $ 150.00 $ 25.00 $ 175.00 $ 25.00 2 75.00 23.00 98.00 21.00 50.00 20.00 70.00 14.00 4 37.50 21.00 58.50 24.00 15 30.00 23.00 53.00 31.00 6. 25.00 25.00 50.00 35.00 7 21.43 28.00 49.43 46.01 8 18.75 33.00 51.76 68.07 16.67 39.00 55.67 86.95 10 15.00 48.00 63.00 128.97 The accompanying table gives cost data for a firm that is selling in a purely competitive market. If the market price for this firm's product is $68.10, it will produce
Table: Cost Data Quantity of Output 0 1 2 3 4 5 6 7 Variable Cost (VC) 0 50 70 100 140 190 250 320 Total Cost (TC) 50 100 120 none of these 190 10 240 50 150 190 240 300 370 What is the average fixed cost of producing 5 units?
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Total Average Average Average Margin Product Fixed Cost Variable Cost Total Cost Cost 1 $100.00 $17.00 $117.00 $17 50.00 16.00 66.00 15 33.33 15.00 48.33 13 25.00 14.25 39.25 12 20.00 14.00 34.00 13 16.67 14.00 30.67 14 7 14.29 15.71 30.00 26 8. 12.50 17.50 30.00 30 11.11 19.44 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 The accompanying table gives cost data for a firm that is selling in a purely competitive market. If there were 1,000 identical firms in this industry and total, or market, demand is as shown in the second table, equilibrium price will be Price Quantity Demanded $50 3,000 42 6,000 36 9,000 32 11,000 20 14,000 13 19,500 Multiple Choice • $32. • $42. • $36. • $20.
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Output AFC AVC ATC MC 1 300 100 400 100 2 150 75 225 50 3 100 70 170 60 4 75 73 148 80 5 60 80 140 110 6 50 90 140 140 7 43 103 146 180 8 38 119 156 230 9 33 138 171 290 10 30 160 190 360 Refer to the chart above. The total fixed costs are what?