Total Revenue Total Cost $25 $49 $69 $91 $117 $147 $180 Output $0 $30 $60 $90 $120 $150 $180 In the above table, the price of the product is A) $30. B) $150. C) $147. D) $180 5 6. а. $30. b. $160 C. $150 d. $170 HN34

Total Revenue Total Cost $25 $49 $69 $91 $117 $147 $180 Output $0 $30 $60 $90 $120 $150 $180 In the above table, the price of the product is A) $30. B) $150. C) $147. D) $180 5 6. а. $30. b. $160 C. $150 d. $170 HN34

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Quantity Fixed Costs Variable Costs Total Cost Marginal Cost 10 200 50 250 *********** 20 200 100 300 5 30 200 300 500 20 40 200 800 1000 X (A) If the equilibrium price is $20, find the profit-maximizing quantity. (B) How much profit will the firm earn? (C) Find the marginal cost as X.
Price and Cost (dollars) B 2 ம 54 3 2 1 T MC ATC 0 10 20 30 40 50 60 70 80 Quantity d Refer to Exhibit 8-7. What is the profit maximizing quantity of this product? O70 units 30 units 50 units. 60 units
Problems 4 to 7 require presenting the procedure used, beginning by including the formula, the mathematical procedure in order, correctly, and the interpretation of the result (why, the criteria applied). The interpretation must be consistent with the procedure used and calculation, otherwise it will be counted as an incorrect answer. 4. Company XYZ sells an average of 300 gallons of paint per week at a price of $5 per gallon. Previously selling a quantity of 500 gallons per week at a price of $4 per gallon, determine the following: price elasticity formula Calculate the coefficient of price elasticity Determine whether demand is elastic, inelastic, or unitary with respect to price and why. 5. If the average family income increases from $20,000 to $30,000 per year, the price of laptops of a particular brand is $1,000, and its sales increase from 500 units to 525 units, determine the following: Income Elasticity Formula Calculate the income elasticity coefficient Determine whether…
Please help in fillin out this table and kkindly provide the caluclations used Picture is attatched thank you
3. Show in a diagram the initial market for 5 stages reverse osmosis filter systems. Then, show the effect of a decline on the price of replacement filters in this market. Be sure to present all labels related to initial and new market outcomes.
(a) Complete the table.(b) Identify the equilibrium output and price.(c) How much profits does the firm earn at equilibrium output?(d) Is the firm operating in a perfect or imperfect market and is the? firm earning supernormal profit, subnormal profit or normal profit
When there is increase in demand and decrease in supply, equilibrium price: (a) Falls (c) Constant (d) None of these ention ng fo (b) Rises
in the month of Janaury a car dealership bought its vehicles for $100.000 and sold them for $145,000 It pays its employees $20,000 for the month. What is the gross profit for January? Ⓒ$45.000 Ⓒ$25.000 $100.000 $145.000
7 8 9 10 $4100 $5400 $7300 O a. $120 and $730 O b. $120 and $931.11 O c. $120 and $811.11 O d. $120 and $109.89 $10880 $135 $980 What is the average fixed cost and average variable cost if nine instructional modules are produced?
Output (unit) Total cost (RM) Total fixed cost (RM) Total variable cost (RM) Average fixed cost (RM) Average variable cost (RM) Average total cost (RM) Marginal cost (RM) 0 600 600 - - - - - 10 1050 600 450 60 45 105 45 20 1450 600 850 30 42.5 72.5 40 30 1800 600 1200 20 40 60 35 40 2100 600 1500 15 37.5 52.5 30 50 2450 600 1850 12 37 49 350 60 2850 600 2250 10 37.5 47.5 40 70 3300 600 2700 8.57 38.57 47.14 45 80 3850 600 3250 7.5 40.625 48.125 55 90 4500 600 3900 6.67 43.34 50 65 100 5250 600 4650 6 46.5 52.5 75 Which time period is the firm operating? Why?
B) $11,250,000 150 Ⓒ$15,750,000 (D) $11,000,000 130 110 90 70 50 Ford Field Capacity is 65,000 10000 30000 MC 50000 70000 MRL DL DH MRL and DL are for low-demand games. MRH and DH are for high-demand games. Based on the graph above, what is the total revenue for both games (high and low demand games) if the price is set at the high- demand price level? A $12,500,000 MRH
The owner of a skating rink rents the rink for parties at $1200 if 60 or fewer skaters attend, so that the cost per person is $20 if 60 attend. For each 5 skaters above 60, she reduces the price per skater by $0.50. (a) Construct a table that gives the revenue generated if 60, 70, and 80 skaters attend. No. of skaters Total Revenue 60 70 80 Price per Skater $ $ $ (b) Does the owner's revenue from the rental of the rink increase or decrease as the number of skaters increases from 60 to 80? O The revenue increases. O The revenue decreases. (c) Write the equation that describes the revenue for parties with x groups of five skaters more than 60 skaters. R(x) = (d) Find the number of skaters that will maximize the revenue. skaters (e) Find the maximum revenue. $ (f) When the revenue is at the maximum possible, what price is paid per skater? $