MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
expand_more
expand_more
format_list_bulleted
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.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
As you review the Facebook site, you note that packagingfor your company’s bread uses the words “heart-healthy.”Would you bring this to the attention of the marketing groupresponsible for product packaging? Or would you look fora way to obscure the package design online? Defend youranswer.
<
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…
I got the graph correct, but what am I doing wrong to get the two equ
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
Knowledge Booster
Similar questions
- The following graph shows the firm-specific demand, Marginal Revenue, and Marginal Cost for Sarah's Sandwich Shed, which operates in a Monopolistically Competitive market. Price $18 $16 MC $14 $12 $10 $8 $6 Demand $4 $2 MR 50 100 150 200 250 300 350 400 450 500 Quantity of Sandwiches per Day MacBook Airarrow_forwardHelp mearrow_forwardTyped .. asaparrow_forward
- What occurs when the cost of producing a range of products is lower than the cost of producing each product individuallyarrow_forwardHomework: Chapter 06 On the following graph, use the green point (triangle symbol) to plot the annual total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per bippitybop. TOTAL REVENUE (Dollars) 2560 2400 2240 2080 1920 1760 1600 1440 1280 A 1120 0 15 30 45 60 75 90 105 120 135 150 165 180 PRICE (Dollars per bippitybop) Total Revenue According to the midpoint method, the price elasticity of demand between points A and B on the initial graph is approximately ▾ Suppose the price of bippitybops is currently $15 per bippitybop, shown as point B on the initial graph. Because the price elasticity of demand between points A and B is , a $15-per-bippitybop increase in price will lead to in total revenue per day. In general, in order for a price decrease to cause a decrease in total revenue, demand must be #3 C G Search or type URL $ 4 % 45 E R T & * ( 6 7 8 9 0 Y U 0 Parrow_forwardShakti Inc. has been granted a patent for its arnica toothache balm. The table to the right shows the demand and the total cost schedule for the firm. What is Shakti's profit minus maximizingoutput? A. 4 units B. 6 units C. 7 units D. 5 units Price per dose (Dollars) Quantity Demanded (Dose) Total Cost of Production (Dollars) $80 0 $80 72 1 82 64 2 88 56 3 100 48 4 124 40 5 164 32 6 208 24 7 268 16 8 340arrow_forward
- Give some specific examples of Product Costs?arrow_forwardnot use ai pleasearrow_forwardThe total revenue of a fimm decreased after an increase of the price of the goods it sells. Explain why this can happen. Include a graph in your explanation. Indicate price effect and output effect in your graph.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, Inc
Essentials of Economics (MindTap Course List)EconomicsISBN:9781337091992Author:N. Gregory MankiwPublisher:Cengage Learning
Managerial Economics: Applications, Strategies an...EconomicsISBN:9781305506381Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. HarrisPublisher:Cengage Learning
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc
Essentials of Economics (MindTap Course List)
Economics
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: Applications, Strategies an...
Economics
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning