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- 5) If Hilltop Turf Farm's total cost of producing acres of sod is TC = 0.20-120Q - 5,000, the marginal cost of producing the fiftieth 50h acre of sod is a) $110. b) $120. C) $130. d) $140. e) $150.5) If Hilltop Turf Farm's total cost of producing acres of sod is TC = 0.202- 1200 - 5,000, the marginal cost of producing the fiftieth soth acre of sod is a) S110. b) $120. C) $130. d) $140. e) $150.Answer the 2nd bullet point only (Engineering Economics)
- Cost Analysis A company manufactures fuel tanks for cars. The total weekly cost (in dollars) of producing X fuel tanks is given by.. C(x) = 10000 +90x - 0.05x² %3D Find the exact cost of producing the 501st item. (Round to the nearest 2 decimal places, if needed) HINT: Steps to fiınd actual or exact (cost/revenue/profit) 1. Find the cost of x = 5003B 2. Then find the cost of x = 501%3; 3. Then subtract ASUS 3 近Phil's Car Wash Inc. has alternative production methods it can use. Some details of the costs of using these methods are described in the table below: Production Production Number of cars washed per hour 0 1 2 3 4 5 6 11 10 9 8 7 6 5 Method 1 Fixed cost ($) Marginal Cost ($) 0 1 2 3 NNNNNNN 4 5 6 2 2 2 2 2 2 2 1 2 3 4 5 6 Method 2 Fixed cost ($) Marginal Cost ($) 10 10 10 10 10 10 10 a) What is the ATC of washing from one to six cars per hour using production method 1 and production method 2? Draw a graph of the Long-run Average total cost of washing from one to six cars per hour. How many cars would Phil need to expect to wash per hour for it to be optimal for his business to use production method 2? 1 1 Phil's business operates in a monopolistically competitive market. Demand for car washes from his firm is: Price Quantity demanded 1 1 1 1 b) Suppose Phil is using production method 1. Assume that his business must set the same price for each car wash. What will be the…Question No. 6 A firm manufactures cars at its plant in Swindon. At a capacity of 100 cars per week it knows that it has an assembly cost of £5,000 per car. It needs to expand production and does a series of design and cost exercises. The results are summarized below. |TP(cars/week) 200 400 600 800 1,000 1,200 1,400 1,600 Ass. cost/car 3,000 2,500 2,300 2,200 2,000 2,400 2,800 4,000 (i) Plot the cost curve for the possible factory extensions. (ii) Is this a short run or long run cost curve? (iii) Explain why this curve is U shaped.
- Timothy quits his job which pays $84000 a year, to enrol in a 2-year graduate programme. His annual school expenses are $58000 for tuition, $9500 for books and 3600 for food. What core principles are considered in timothy decision making? A snowboard company currently hires 10 skilled employees who are paid a weekly wage of $1,000.00. the cost of capital is $3000 and it is fixed, which means that it does not vary with output. The company is currently producing 240 snowboards. The company’s cost will be $13,500 if it produces an additional snowboard. A customer is willing to pay $550 for the 241st snowboard. Should the company produce and sell it? What core principles are considered in the snowboard company’s decision making?ATC, AAC, AVC, MC (/uni 270.00 24000 21000 180.00 150.00 120.00 10:00 60.00 30.00 0:00 02 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 Units of Output (0) Unit Cost Curves Refer to the graph above. The curves are not labeled. To help get this question right, you must first label the curves. An output level of 18 is identified with the dark vertical line. The shaded rectangular area (height times width) is the O average sunk cost. O total sunk cost O total avoidable fed cost. O total avoidable cost. O None of the aboveThe diagram illustrates isoprofit curves and the marginal cost curve of MQ2020, a luxury car manufactured by MQ Motors. Which statement incorrectly describes the diagram? 10,000 9,000 8,000- 7,000- 6,000- 5,000- 4,000 3,000 2,000 1,000 Price, marginal cost (5) C(8,7500) *A (35,6000) (40, 3300) Profit-QP-AC) Marginal cost hoprofit curve $150,000 boprofit curve $70,000 Zenic procure (AC 0 0 10 20 30 40 50 60 70 80 90 100 110 120 Quantity of cars, Q Select one Oa if the price is equal to the average cost, MQ Motors' profits decrease until it sells 40 cars, and then start to increase. Ob Given the same quantity of cars, MQ Motors" profits increase as price increases. OC The shape of MQ Motors' cost function affects the shape of their isoprofit curves Od. MQ Motors incurs increasing marginal cost Oe It MQ Motors sells 35 cars at P-$5,000, it makes profits higher than $70,000.
- The cost, in dollars, of producing x yards of a certain fabric is C(x) = 900 + 12x - 0.1x² +0.0005x³ and the company finds that if it sells x yards, it can charge p(x) = 27-0.00021x dollars per yard for the fabric. (a) Graph the cost and revenue functions. y 8000 6000 4000 2000 y 15 000 10 000 5000 R C 100 R =² C 100 200 200 300 300 X 400 400 X Use the graph to estimate the production level for maximum profit. 283.092 x yards y 15 000 10 000 5000 y 15 000 10 000 5000 R 100 R C 100 200 200 (b) Use calculus to find the production level for maximum profit. (Round your answer to two decimal places.) 186.63 yards 300 300 400 400 XRefer to the accompanying table below. The marginal cost of the 4tn unit of activity is: Units of Activity Total Cost Total Benefit $0 $0 1 $2 $12 2 $6 $22 $12 $20 3. $30 4 $36 $30 $40 6 $42 $42 7 $56 $43At what output level is variable costs per unit at a minimum? Supporting Materials Steel Costs $ per ton MC ATC $175 AVC $115 $70 4,000 9,000 11,000 16,500 Steel Outp ut (in tons)