Microeconomics
10th Edition
ISBN: 9781259655500
Author: David C Colander
Publisher: McGraw-Hill Education
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Question
Chapter 11, Problem 3IP
(a)
To determine
Graphically illustrate the marginal cost.
(b)
To determine
Determine the
(c)
To determine
Determine it is possible to figure MC, when an individual did not keep a track of usage.
(d)
To determine
Determine why the firms offer such confusing plans.
(e)
To determine
Identify whether the firms are in favor or against the portability of phone numbers.
(f)
To determine
Determine why these offers are no longer prevalent.
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The accompanying table shows the total daily output for a firm producing specialty cakes and operating with a fixed amount of capital. The cost of labour is $100 per unit per day and the fixed cost
of the capital is $2000 per day.
Click the icon to view the table.
a. Using the information provided, compute all of the short-run costs for this firm and complete the table. Remember to record the marginal costs between the rows indicating total cost.
Complete the third, fourth, and fifth columns of the table.
Units of Labour Total Output
(per day)
(per day)
100
20
40
60
80
100
120
140
40
60
300
80
800
1370
1570
1630
1670
300
800
TFC
$2000
1370
$ 2000
$ 2000
TVC
$2000
Complete the last four columns of the table.
Units of Labour
(per day)
Total Output
(per day)
20
100
$ 4000
$ 6000
$ 2000 $ 8000
$2000 $10000
TFC
TC
$ 4000
$6000
TVC
$ 8000
2000 $12000 $14000
$10000
$2000 $14000 $16000
$12000
TC
MC
MC
$10
4
$3.50
$10
4
AFC
AFC
$20
$2.5
AVC
$6.67 $ 13.33
$ 1.46
AVC
$20
$7.5
$5.84
ATC
ATC
$40…
Vintage Camera T Temple MIS G is
You have the following data for product X: sales
revenue $14,000, allocated fixed costs $12,000,
variable costs $20,000. You cannot increase the price
of product X or improve the production process to
increase profitability. What should you do about
product X?
O do nothing - unprofitable products are just one of the
costs of doing business
O keep the product both in the short term and in the long
term
O keep the product in the short term and drop it in the long
term
O drop the product both in the short term and in the long
term
O drop the product in the short term and keep it in the long
term
Give typing answer with explanation and conclusion
Chapter 11 Solutions
Microeconomics
Ch. 11.1 - Prob. 1QCh. 11.1 - Prob. 2QCh. 11.1 - Prob. 3QCh. 11.1 - Prob. 4QCh. 11.1 - Prob. 5QCh. 11.1 - Prob. 6QCh. 11.1 - Prob. 7QCh. 11.1 - Prob. 8QCh. 11.1 - Prob. 9QCh. 11.1 - Prob. 10Q
Ch. 11 - Prob. 1QECh. 11 - Prob. 2QECh. 11 - Prob. 3QECh. 11 - Prob. 4QECh. 11 - Prob. 5QECh. 11 - Prob. 6QECh. 11 - Prob. 7QECh. 11 - Prob. 8QECh. 11 - Prob. 9QECh. 11 - Prob. 10QECh. 11 - Prob. 11QECh. 11 - Prob. 12QECh. 11 - Prob. 13QECh. 11 - Prob. 14QECh. 11 - Prob. 15QECh. 11 - Prob. 16QECh. 11 - Prob. 17QECh. 11 - Prob. 18QECh. 11 - Prob. 19QECh. 11 - Prob. 1QAPCh. 11 - Prob. 2QAPCh. 11 - Prob. 3QAPCh. 11 - Prob. 4QAPCh. 11 - Prob. 5QAPCh. 11 - Prob. 1IPCh. 11 - Prob. 2IPCh. 11 - Prob. 3IPCh. 11 - Prob. 4IPCh. 11 - Prob. 5IP
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