The following table presents the expected costs, revenue, and profit schedules for the Tucker Tomato Farm. Refer to the table to answer the questions that follow. Output 0 1 2 3 4 5 6 7 8 9 10 Total Cost ($ Per Ton) $100 $400 $500 $700 $1,000 $1,400 $1,900 $2,550 $3,200 $4,500 $5,800 Marginal Cost AAAA $300 $100 $200 $300 $400 $500 $650 $650 $1,300 $1,300 Average Variable Cost $300 $200 $200 $225 $260 $300 $350 $388 $489 $570 Average Total Cost $400 $250 $233 $250 $280 $317 $364 $400 $500 $580 Profit at $500 per ton -$100 $100 $500 $800 $1,000 $1,100 $1,100 $950 $800 $0 -$800 In order to maximize profits, when the price of tomatoes is $500, the Tuckers will produce $ In order to maximize profits, when the price of tomatoes is $400 the Tuckers will produce $ Assuming they choose produce, when the price of tomatoes is $300 the Tuckers will produce Profit at $400 per ton -$100 $0 $300 $500 $600 $600 $500 $250 $0 -$900 -$1,800 Profit at $300 per ton -$100 -$100 $100 $200 $200 $100 -$100 -$450 -$800 -$1,800 -$2,800 tons of tomatoes and make a tons of tomatoes and make a tons of tomatoes and make a of of of

The following table presents the expected costs, revenue, and profit schedules for the Tucker Tomato Farm. Refer to the table to answer the questions that follow. Output 0 1 2 3 4 5 6 7 8 9 10 Total Cost ($ Per Ton) $100 $400 $500 $700 $1,000 $1,400 $1,900 $2,550 $3,200 $4,500 $5,800 Marginal Cost AAAA $300 $100 $200 $300 $400 $500 $650 $650 $1,300 $1,300 Average Variable Cost $300 $200 $200 $225 $260 $300 $350 $388 $489 $570 Average Total Cost $400 $250 $233 $250 $280 $317 $364 $400 $500 $580 Profit at $500 per ton -$100 $100 $500 $800 $1,000 $1,100 $1,100 $950 $800 $0 -$800 In order to maximize profits, when the price of tomatoes is $500, the Tuckers will produce $ In order to maximize profits, when the price of tomatoes is $400 the Tuckers will produce $ Assuming they choose produce, when the price of tomatoes is $300 the Tuckers will produce Profit at $400 per ton -$100 $0 $300 $500 $600 $600 $500 $250 $0 -$900 -$1,800 Profit at $300 per ton -$100 -$100 $100 $200 $200 $100 -$100 -$450 -$800 -$1,800 -$2,800 tons of tomatoes and make a tons of tomatoes and make a tons of tomatoes and make a of of of

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

3
4
5
6
7
8
9
10
$
$700
$1,000
$1,400
$1,900
$2,550
$3,200
$4,500
$5,800
$300
$400
$500
$650
$650
$1,300
$1,300
True
$200
$225
False
$260
$300
$350
$388
$489
$570
In order to maximize profits, when the price of tomatoes is $500, the Tuckers will produce
$
4235
$250
$280
$317
$364
$400
$500
$580
In order to maximize profits, when the price of tomatoes is $400 the Tuckers will produce
$
φουν
$1,000
$1,100
$1,100
$950
$800
$0
-$800
Assuming they choose produce, when the price of tomatoes is $300 the Tuckers will produce
2500
$600
$600
$500
$250
$0
-$900
-$1,800
$200
$200
$100
-$100
-$450
-$800
-$1,800
-$2,800
tons of tomatoes and make a
tons of tomatoes and make a
True or False: When the price of tomatoes is $300 per ton, the Tuckers would prefer to shutdown rather than produce in the short run.
tons of tomatoes and make a
▼ of
of
of

The following table presents the expected costs, revenue, and profit schedules for the Tucker Tomato Farm.
Refer to the table to answer the questions that follow.
Output
0
1
2
3
4
56789
10
Total
Cost
($ Per
Ton)
$100
$400
$500
$700
$1,000
$1,400
$1,900
$2,550
$3,200
$4,500
$5,800
Marginal
Cost
AAAAAA
$300
$100
$200
$300
$400
$500
$650
$650
$1,300
$1,300
Average
Variable Cost
$300
$200
$200
$225
$260
$300
$350
$388
$489
$570
Average
Total Cost
$400
$250
$233
$250
$280
$317
$364
$400
$500
$580
Profit at $500
per ton
-$100
$100
$500
$800
$1,000
$1,100
$1,100
$950
$800
$0
-$800
In order to maximize profits, when the price of tomatoes is $500, the Tuckers will produce
$
In order to maximize profits, when the price of tomatoes is $400 the Tuckers will produce
$
Assuming they choose produce, when the price of tomatoes is $300 the Tuckers will produce
Profit at $400
per ton
-$100
$0
$300
$500
$600
$600
$500
$250
$0
-$900
-$1,800
Profit at $300
per ton
-$100
-$100
$100
$200
$200
$100
-$100
-$450
-$800
-$1,800
-$2,800
tons of tomatoes and make a
tons of tomatoes and make a
tons of tomatoes and make a
of
of
of

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The real question is not the ones I posted those are what you need the real question is at the profit maximizing level of production. A)Total revenue will be , and profit will be
Assume the following cost data are for a purely competitive producer Total Product AFC AVC ATC MC 0 1 $60 $45 $105 $45 2 $30 $42.50 $72.50 $40 3 $20 $40 $60 $35 4 $15 $37.50 $52.50 $30 5 $12 $37 $49 $35 6 $10 $37.50 $47.50 $40 7 $8.57 $38.57 $47.14 $45 8 $7.50 $40.63 $48.13 $55 9 $6.67 $43.33 $50 $65 10 $6.00 $46.50 $52.50 $75 In the table below, complete the short run supply schedule for the firm (columns 1 and 2) and indicate the profit or loss incurred at each output (column 3) 1 2 3 4 Price Quantity supplied, single firm Profit (+) or loss (-) Quantity supplied, 1500 firms $26 $32 $38 $41 $46 $56 $66
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please read the question as there are similar questions with this type of table