The figure below shows cost and revenue.$(thousands)400300200100510C(q)R(q)15q (thousands) For what production levels is the profit function positive?O The profit function is positive when q> 12.5.O The profit function is positive when q < 5.5.O The profit function is always positive.O The profit fuction is positive when 5.5 12.5.eTextbook and MedialFor what production levels is the profit function negative?O The profit function is negative when q> 12.5.O The profit function is negative when q < 5.5.O The profit function is negative when q < 5.5 orq> 12.5.O The profit fuction is negative when 5.5 << 12.5.O The profit function is always neagtive.Show Transcribed TextFor what production levels is the profit maximized?Round your answer to one decimal place.q=ieTextbook and Media

Total revenue and total costs: Total revenue is the total value of the commodities produced and sold…

Answered: The figure below shows cost and…

Business

Economics

The figure below shows cost and revenue. $(thousands) 400 300 200 100 5 10 C(q) 15 R(q) q (thousands)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Bags/Participants Fixed Cost Variable Cost Total Cost 0. $1,700 $- $1,700 100 $1,700 $500 $2,200 200…

A: At breakeven point there is no profit or loss. At breakeven point, total revenue is equal to total…

Q: Oil up $1.50 a barrel as demand recovery seen tightening supply" If the diagram below represents the…

A: The continual interaction between buyers' preferences and product availability influences market…

Q: 10 20 30 40 s0 e0 70 80 0 100 110 120 Quity Refer to the figure. Suppose instead of the tax, the…

A: In a market, the incidence of tax and subsidy on buyers and sellers depends upon their relative…

Q: Suppose you are watching a news programme on television. It's reported that some European…

A: Export is the sale of goods and services to foreign countries of origin or produced in the country.…

Q: SETTINGS الله 175 MC 150 125 100 75 50 25 ATC AVC MR D 0 20 40 60 80 100 120 140 160 180 Quantity…

A: Monopoly is defined as the market structure where only a single producer or seller of a good exists…

Q: Inputs of a MP Inputs of b 25 40 20 36 3. 15 32 4. 10 24 20 16 7. The table gives marginal product…

A: We have input prices pa =5 ansd pb = 8.

Q: Calculate the profits when total cost is $2900 and the total revenue is $3300

A: # The difference between the total revenue and the total cost incurred by the firm gives the profits…

Q: Consider the inverse demand curve p = 144 - 2Q and the cost function C(Q) = 100+ 4Q. If the market…

A: Incidence of tax is an economic term used to refer the sharing of tax burden between buyers and…

Q: If profit is $360 and total cost is $800 Calculate Total revenue

A: According to the above mentioned question, the values are:- Profit = $360 Total cost = $800 We have…

Q: \table[[\table[[Output], [per], [Month]], Price, \table[[Total], [Revenue]], Total Cost,Total…

A: a. The market price refers to the current price at which a good or service is traded in the…

Q: Output Variable Total AVC AFC ATC MC (bоxes) Cost Cost $0 $10 1 $20 $15 3 $69 $3.33 $23 4 $2.50 $27…

A: According to the table given in the question, total cost at 0 units of output is $10 which means…

Q: egative externality or spillover cost occurs when Multiple Choice firms fail to achieve allocative…

A: The result of production might be characterised as an externality. Externalities come in two primary…

Q: An electrical engineer wants to deposit an amount P now such that she can withdraw an equal annual…

A: An engineer withdraws an equal annual amount of $2,000Time period: 5 yearsAnother annual withdrawal…

Q: (d) What is the variable cost? ta What is the fixed cost?

A: since the cost of renting tuxes for choral societies formal is $19 down plus $85per tax. so, The…

Q: If marginal cost is equal to average total cost then, (a) Average total costs are falling (b)…

A: Marginal cost depicts additional cost incurred in order to produce an additional unit of output.

Q: Price Quantity Total Revenue Fixed Cost Variable Cost Profit (Dollars per blender) (Blenders)…

A: Total revenue = PRice * quantity VC = AVC * Quantity (do confirm AVC when price is 100,here i…

Q: Cost/Unit $30 $23 $20 $18 $10 25 ATC₁ 30 ATC₂ X 40 ATC3 45 ATC4 Output

A: Long run average cost : The long run average cost curve is the locus of the minimum point of all…

Q: Economics A company sells apples. Annual demand is 20,000, the order cost is $150.00 and the holding…

Q: A company makes and sells toasters. To make the toasters there is a fixed monthly cost of $27,000…

A: Here we have to write the cost function, the revenue function, the profit function, the break even…

Q: 1. Zaggy Zargawhoop has an idea for a new business. In order to develop his idea, he needs to invest…

A: Savings basically refers to the process of setting aside a portion of one's current income for…

Q: Calculate the value of total revenue if total cost is $6500 and profits are $800

A: The information given in the question is:- Total cost = $6500 Profits = $800 Total revenue = ? We…

Q: Identify a minimum of 5 features/tools that are offered.

A: The State of Ohio offers a wide range of profession openings. A vocation in broad daylight…

Q: For each price in the following table, use the graph to determine the number of lamps this firm…

A: The graph given represent prices on the x-axis and quantity on the y-axis. The shape of AVC and ATC…

Q: utput (unit) Total cost (RM) Total fixed cost (RM) Total variable cost (RM) Average fixed cost…

A: The firm is operating in the short run.

Q: Consider the Hicksian Demand Function: P = 280 - X² and the Marginal Cost Function: MC (X) = X² - 2x…

A: The Hicksian demand function is given as This form of demand function is termed as inverse demand…

Q: 7. The multiplier Your anwer 8. Let's suppose the level of investment increased by $20, how much of…

A: MPC = 0.8 Multiplier = 1 / (1 - mpc) = 1 / (1 - 0.8) = 1/0.2 = 5

Q: Output and Prices for an Imaginary Economy for 2019 and 2020 Product Quantity in 2019 Price in 2019…

A: Nominal GDP = Current year quantity * Current year price. Real GDP = Current year quantity * Base…

Q: Consider the countries of Cyprus and Lithuania, both of which are part of the European Union and use…

A: The general increase in the level of prices in the economy depicts the situation of inflation. A…

Q: Some rental units have certain expenses included with the rent. Water, electricity, and heating are…

A: Utilities expense is the cost incurred by using utilities such as electricity, water, waste…

Q: Bags/Participants Fixed Cost Variable Cost Total Cost 0 $1,700 $ - $1,700 100 $1,700 $500…

A: Total cost (TC) is the overall sum of all expenses incurred by a company or a producer in the…

Q: It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake.A cupcake is sold for…

A: The fixed cost is the cist which remains the same at all the levels of output for the firm. When the…

Q: Find profit level of total revenue is $2490 and total cost is $2100

A: The information being given is:- Total revenue = $2490 Total cost = $2100 Profit= ?

Q: Kevin owns a personal training gymnasium in Orlar his profit and will DA. maximize; earn an economic…

A: In a monopolistic competitive market, there are a large number of firms producing similar but not…

Q: In 2019, Japan had a debt/GDP ratio of 256.22%. For the same year, Germany had a debt/GDP ratio of…

A: The correct option is In 2019, both Japan and Germany had a budget deficit, but Japan's deficit was…

Q: 2. Suppose the market demand and supply for pizza is given by the following: Qa- 300 - 20P Q,- 20P -…

A: Given, Qd= 300-20p Qs= 20p-100

Q: PRINT YOUR NAME (LAST) (FIRST) Aggregate Cost Data Unit Cost Data i Average Average Average IFixed…

A: The firms operating in a market incur two types of costs; fixed costs and variable costs. Fixed…

Question

The figure below shows cost and revenue.
$(thousands)
400
300
200
100
5
10
C(q)
R(q)
15
q (thousands)

For what production levels is the profit function positive?
O The profit function is positive when q> 12.5.
O The profit function is positive when q < 5.5.
O The profit function is always positive.
O The profit fuction is positive when 5.5 <q < 12.5.
O The profit function is positive when q < 5.5 orq> 12.5.
eTextbook and Medial
For what production levels is the profit function negative?
O The profit function is negative when q> 12.5.
O The profit function is negative when q < 5.5.
O The profit function is negative when q < 5.5 orq> 12.5.
O The profit fuction is negative when 5.5 << 12.5.
O The profit function is always neagtive.
Show Transcribed Text
For what production levels is the profit maximized?
Round your answer to one decimal place.
q=i
eTextbook and Media

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

Step 2

Step 3

Step 4

Step 5

Trending now

This is a popular solution!

Step by step

Solved in 5 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Renewable And Exhaustible Natural Resources

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

100 90 80 70 60 ATC 50 40 30 AVC 20 MC 10 10 20 30 40 50 60 70 80 90 100 QUANTITY (Thousands of lamps) COSTS (Dollars)
100 90 80 ATC AVC 20 10 MC 10 15 20 25 30 35 40 45 50 QUANTITY (Thousands of blenders) ch a Desktop PRICE (Dollars per blender) 8 & 8 8 8
100 90 80 ATC 70 50 30 AVC 20 MC 10 + 0 0 5 10 15 20 25 30 35 40 45 50 QUANTITY (Thousands of pans) PRICE (Dollars per pan) 40
Only typed answer
Fill the Table Total Total Fixed Variable Total Costs Costs Total Average Total Costs Costs $100 $140 $165 $210 $295 $425 $625 Product (TFC) (TVC) $50 $50 $50 $90 $50 $115 $50 $160 $50 $245 $50 $375 $50 $575 1 4 9. Total Total Fixed Variable Total Marginal Total Costs Costs Costs Costs Product (TFC) $50 (TVC) $0 |(TC) $50 (MC) na 1 $50 $50 $50 $50 $50 $100 2 $90 $140 $115 $165 4 $160 $210 $50 $50 $50 $295 $425 $245 6. $375 7 $575 $62 LolcolN 567
Please correct Solution with Explanation and do not give image format
Subject: Engineering Economics Please write handwritten Answer And Explain Briefly Please don't use ChatGPT
Your Industry Your Company WHOLESALE SEGMENT Company Average vs. Ind. Avg. Wholesale Price ($ per pair) $43.50 $53.83 -19.2% S/Q Rating (1 to 10 stars) 4.3 6.3 -31.7% Model Availability 400 300 +33.3% Brand Advertising ($000s) 12,000 14,350 -16.4% Rebate Offer ($ per pair) 0 3.40 -100.0% Delivery Time (weeks) 3 wks 2.8 wks +7.1% Retailer Support ($ per outlet) 4,500 4,675 -3.7% Retail Outlets 770 1,538 -49.9% Celebrity Appeal 0 111 -100.0% Brand Reputation (prior-year average) 80 76 +5.3% Pairs Demanded 2,365 2,413 -2.0% Gained/Lost (due to stockouts) -7 0 Pairs Sold (000s) 2,358 2,413 Market Share (%) 9.8% 10.0% -2.3% -0.2 pts Based on the above data for your company, which of the following statements is false? Your company's two biggest competitive advantages in the Wholesale Segment related to wholesale price and model availability. Your company's branded sales volume and market share in the Wholesale segment was negatively impacted by your company's S/Q rating, brand advertising,…
Use the values in the table below to answer the following questions. Q TC ATC 1 35.91 9 101.1 10 -(C)- 33 1070 34 -(D)- 35.91 -(A)- -(B)- 35320 -(E)- MC 16.88 107.6 127.4 1102 1167 Cell (A) stands for the total cost of 9 units. Its value should be A. 323.52 B. 909.8 C. 151.65 O D. 252.75
Typed plz and Asap Please give me a quality solution thanks
Whole number answer needed
Mc Graw Hill c) Assuming that the cost of employing each worker is $220 per day (including wages and materials), and Custom Made Pot has daily fixed costs of $400, fill in Table B given below: Round your AVC and MC answers to one decimal place. Number of TP WorkersOutput 1 2 3 A 5 6 10 80 TVC($) 220 440 180 240 830 280 1100 294 1320 660 6 TFC Table B TC 400 620 620 400 840 400 1060 400 1280 1280 400 1500 1720 400 AVC($) ATC 22 62 5.5 10.5 3.67 5.89 3.67 5.33 3.9 4.5 5.3 5.8 MC($) dy On the graph given below, plot the following points showing the quantity and dollar amounts. point of diminishing returns (D) most productive point (P) economic capacity (E) Tools O 220 220 220 Once a point is plotted, a tool icon will pop up. You can use this to enter exact co-ordinates for your points as needed. n D 220 220 ? P Prev 1 of 8 SAMSUNG Next >