Wayne's Wiener Wagon Assignment 1. Complete the following table for Wayne's Wiener Wagon. Weenies 0 10 20 30 40 50 60 70 80 90 TC 10 20 40 70 110 160 TFC TVC MC O XX 220 290 370 10 10 0 -20 -50 -90 -140 -200 490 -270 640 460 -350 810 10 40 90 160 250 360 1 23456 ATC XX 2 2 3 2.33 AFC XX 3.2 2.75 -1.25 -1.8 63.66 -2.33 74.14 -2.86 8 4.63 -3.38 9 5.11 -3.88 AVC XX 0 0 2 -0.66 3 5 9 7 8 9 profit 60 120 170 130 290 260 270 270 370 2. The weenie industry is ruthlessly competitive. If the market price for dogs is $8, how many will Wayne produce?
Wayne's Wiener Wagon Assignment 1. Complete the following table for Wayne's Wiener Wagon. Weenies 0 10 20 30 40 50 60 70 80 90 TC 10 20 40 70 110 160 TFC TVC MC O XX 220 290 370 10 10 0 -20 -50 -90 -140 -200 490 -270 640 460 -350 810 10 40 90 160 250 360 1 23456 ATC XX 2 2 3 2.33 AFC XX 3.2 2.75 -1.25 -1.8 63.66 -2.33 74.14 -2.86 8 4.63 -3.38 9 5.11 -3.88 AVC XX 0 0 2 -0.66 3 5 9 7 8 9 profit 60 120 170 130 290 260 270 270 370 2. The weenie industry is ruthlessly competitive. If the market price for dogs is $8, how many will Wayne produce?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
economics
Transcribed Image Text:Wayne's Wiener Wagon Assignment
1. Complete the following table for Wayne's Wiener Wagon.
Weenies
0
10
20
30
40
50
60
70
80
90
TC
10
20
40.
70
10
40
90
220 -14.0
160
250
360
290 -200 490
370 -270 640
460 -350 810
TFC TVC MC
O
10
XX
110
160
10
0
-20
-50
-90
1 2
17
ATC
XX
2
0
-0.66
2.75 -1.25
-1.8
3.2
63.66 -2.33
74.14 -2.86
84.63 -3.38
-3.88
9 5.11
2
32.33
4
5
AFC
XX
AVC
XX
25
O
2
3
4
6
ㅋ
8
9
profit
60
120
170
130
290
260
270
270
370
2. The weenie industry is ruthlessly competitive. If the market price for dogs is $8, how
many will Wayne produce?
3. Illustrate the firm and market S and D curves. Be sure to identify each graph completely.
4. Wayne decides to increase his profits by unilaterally raising the price of his dogs to $9
each. What will be his new level of profit?
ases
>
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!
Trending now
This is a popular solution!
Step by step
Solved in 5 steps with 1 images
Knowledge Booster
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.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education