The table below reports production and cost data for a local bakery. Workers 1 2 3 4 5 6 7 8 9 10 Output 12 28 48 72 92 108 120 128 132 134 MPL 12 16 20 24 20 16 12 8 4 2 APL 12.00 14.00 16.00 18.00 18.40 18.00 17.14 16.00 14.67 13.40 VC $100.00 $200.00 $300.00 $400.00 $500.00 $600.00 $700.00 $800.00 $900.00 $1,000.00 AVC $8.33 $7.14 $6.25 $5.56 $5.43 $5.56 $5.83 $6.25 $6.82 $7.46 TC $300.00 $400,00 $500.00 $600.00 $700.00 $800.00 $900.00 $1,000.00 $1,100.00 $1,200,00 ATC $25.00 $14.29 $10.42 $8.33 $7.61 $7.41 $7.50 $7.81 $8.33 $8.96 MC $8.33 $6.25 $5.00 $4.17 $5.00 $6.25 $8.33 $12.50 $25.00 $50.00 Suppose the price of bread is $15 per loaf and the bakery bakes 132 loaves. How much profit are they losing (round your answer to two decimal places)?

The table below reports production and cost data for a local bakery. Workers 1 2 3 4 5 6 7 8 9 10 Output 12 28 48 72 92 108 120 128 132 134 MPL 12 16 20 24 20 16 12 8 4 2 APL 12.00 14.00 16.00 18.00 18.40 18.00 17.14 16.00 14.67 13.40 VC $100.00 $200.00 $300.00 $400.00 $500.00 $600.00 $700.00 $800.00 $900.00 $1,000.00 AVC $8.33 $7.14 $6.25 $5.56 $5.43 $5.56 $5.83 $6.25 $6.82 $7.46 TC $300.00 $400,00 $500.00 $600.00 $700.00 $800.00 $900.00 $1,000.00 $1,100.00 $1,200,00 ATC $25.00 $14.29 $10.42 $8.33 $7.61 $7.41 $7.50 $7.81 $8.33 $8.96 MC $8.33 $6.25 $5.00 $4.17 $5.00 $6.25 $8.33 $12.50 $25.00 $50.00 Suppose the price of bread is $15 per loaf and the bakery bakes 132 loaves. How much profit are they losing (round your answer to two decimal places)?

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

The table below reports production and cost data for a local bakery.
Workers
1
2
3
4
5
6
7
8
9
10
Output
12
28
48
72
92
108
120
128
132
134
MPL
12
16
20
24
20
16
12
8
4
2
APL
12.00
14.00
16.00
18.00
18.40
18.00
17.14
16.00
14.67
13.40
VC
$100.00
$200.00
$300.00
$400.00
$500.00
$600.00
$700.00
$800.00
$900.00
$1,000.00
AVC
$8.33
$7.14
$6.25
$5.56
$5.43
$5.56
$5.83
$6.25
$6.82
$7.46
TC
$300.00
$400,00
$500.00
$600.00
$700.00
$800.00
$900.00
$1,000.00
$1,100.00
$1,200,00
ATC
$25.00
$14.29
$10.42
$8.33
$7.61
$7.41
$7.50
$7.81
$8.33
$8.96
MC
$8.33
$6.25
$5.00
$4.17
$5.00
$6.25
$8.33
$12.50
$25.00
$50.00
Suppose the price of bread is $15 per loaf and the bakery bakes 132 loaves. How much profit are they losing (round your answer
to two decimal places)?

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