Micro Economics For Today
10th Edition
ISBN: 9781337613064
Author: Tucker, Irvin B.
Publisher: Cengage,
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Question
Chapter 8, Problem 13SQ
To determine
The economic profit for the firm at output of 200 units per week.
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Students have asked these similar questions
True or False
(a) Calculate this firm’s marginal cost for output level 5.
(b) Calculate this firm’s marginal cost for output level 6.
(c) What is the average total cost at which, this firm reaches its break even-point?
(d) What is the average variable cost at which, this firm reaches its shut-down point?
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Problem 1. Fill out the missing data.
Quantity
Total Cost
Marginal Cost
Fixed Cost
Variable Cost
Average Total Cost
-
Average Variable Cost
7
10
37
22.5
10.50
15
The market price for the firm's output is $14.50.
a) What quantity will the firm produce?
Q =
b) What is the firm's profit?
Profit=
P =
P =
c) What is the breakeven price?
d) What is the shutdown price?
f) Are consumers or producers affected by the tax more? Explain.
Chapter 8 Solutions
Micro Economics For Today
Ch. 8.5 - Prob. 1YTECh. 8.5 - Prob. 2YTECh. 8 - Prob. 1SQPCh. 8 - Prob. 2SQPCh. 8 - Prob. 3SQPCh. 8 - Prob. 4SQPCh. 8 - Prob. 5SQPCh. 8 - Prob. 6SQPCh. 8 - Prob. 7SQPCh. 8 - Prob. 8SQP
Ch. 8 - Prob. 9SQPCh. 8 - Prob. 10SQPCh. 8 - Prob. 11SQPCh. 8 - Prob. 12SQPCh. 8 - Prob. 1SQCh. 8 - Prob. 2SQCh. 8 - Prob. 3SQCh. 8 - Prob. 4SQCh. 8 - Prob. 5SQCh. 8 - Prob. 6SQCh. 8 - Prob. 7SQCh. 8 - Prob. 8SQCh. 8 - Prob. 9SQCh. 8 - Prob. 10SQCh. 8 - Prob. 11SQCh. 8 - Prob. 12SQCh. 8 - Prob. 13SQCh. 8 - Prob. 14SQCh. 8 - Prob. 15SQCh. 8 - Prob. 16SQCh. 8 - Prob. 17SQCh. 8 - Prob. 18SQCh. 8 - Prob. 19SQCh. 8 - Prob. 20SQ
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- fastarrow_forwardPlease show make the work. I do not understand how the answer is C. However, someone said the answer is B. A company is producing 15,000 units. At this output level, marginal revenue is $22, and the marginal cost is $18. The firm sells each unit for $48 and average total cost is $40. What can we conclude from this information? a. The company is making a loss. b. The company needs to cut production. c. The company needs to increase production. d. Not enough information is provided. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.arrow_forwardWhen total fixed costs increase, a - the profit - maximizing level of output falls. b the firm may be forced to shut down if total fixed costs get too high. c economic profit decreases. d all of the above occurs.arrow_forward
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