Using the data in the following table, show what happens to the firm's output choice and profit if the fixed cost of production increases from $100 to $120 to $140, where q is quantity and C is total cost. Assume that the price of output is $64. q 0 1 2 3 4 5 6 7 8 9 10 11 If the fixed cost of production is $100, then output will be MC - 50 28 20 14 18 20 22 38 45 55 65 C (FC = $100) 100 150 178 198 212 230 250 272 310 355 410 475 C (FC = $120) 120 170 198 218 232 250 270 292 330 375 430 495 units (enter your response using an integer) C (FC = $140) 140 190 218 238 252 270 290 312 350 395 450 515

Using the data in the following table, show what happens to the firm's output choice and profit if the fixed cost of production increases from $100 to $120 to $140, where q is quantity and C is total cost. Assume that the price of output is $64. q 0 1 2 3 4 5 6 7 8 9 10 11 If the fixed cost of production is $100, then output will be MC - 50 28 20 14 18 20 22 38 45 55 65 C (FC = $100) 100 150 178 198 212 230 250 272 310 355 410 475 C (FC = $120) 120 170 198 218 232 250 270 292 330 375 430 495 units (enter your response using an integer) C (FC = $140) 140 190 218 238 252 270 290 312 350 395 450 515

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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