Check all that apply: If the market price is 110, marginal revenue is also 110 The marginal cost of the 2nd unit is 160 If the market price is 400, the firm should sell 6 units The average fixed cost of the fourth unit is 50 The average total cost of the 5th unit is 260
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Consider the firm which sells products in a
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- Compute the average total cost, average variable cost, and marginal cost of producing 50 and 72 haircuts. Draw the graph of line three curves between 60 and 72 haircuts.How does fixed cost affect marginal cost? Why is this relationship important?12 st L8 Get & Transform Data 4 6 7 1 2 Available Product 3 8 9 10 11 12 13 A 14 15 16 17 18 19 20 All :X ✓ fx B Pounds made Workbook Links Queries & Connections 3000 Flour (ounce) 1500 Egg (piece) 4500 Labor (man-hour) Unit Price Variable Cost Demand UCM Adiucted C 3.2 1.5 6 D $12.50 $6.50 960 $6.00 2.6 1.5 5 Data Types $11.00 $5.70 928 $5.30 E 1.5 1 4 <1 $9.00 $3.60 1041 $5.40 F 0 0 0 0 Banana Muffin Choc Muffin Banana Cookies Choc Cookies Milk Bread White Bread 0.7 0.3 0.5 0 2.5 1.5 $6.00 $3.00 $2.20 $1.20 1084 1055 $3.80 $1.80 AV 0 0.8 1 3 G $7.00 $2.80 977 $4.20 Sort & Filter H Advanced 0
- The graph shows the cost curves are they profit maximizing firm in a competitive market. If the market price is $30 and the firm produces at the profit maximizing quantity, what is the total variable cost A: $5400 B: $7200 C: $3960 D:Price and cost (dollars per student) $150 120 88 76 72 ATC 40 - MC MR 24,000 30,000 36,000 Quantity of students enroiled 15,000 Your college decides to offer a psychology course as a MOOC that can be taken by students anywhere in the world, whether they are actually enrolled in your college or not. The demand and cost situation for the MOOC is shown in the figure. The faculty member who designed the course argues: "I think the course should be priced so that the maximum number of students enroll." Which price should this faculty member favor? O A. $0 В. $40 C. $88 D. $150Q1 It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake.A cupcake is sold for $4.90 each. The cost of producing 20,40,60,80 and 100 cupcakes. Cost of producing cupcakes Quantity TVC ($) TFC($) TC (TFC+TVC) 20 42 (2.1 * 20) 420 462 40 84 420 504 60 126 420 546 80 168 420 588 100 210 420 630 Revenue from Selling Quantity Price TR 20 4.9 98 40 4.9 196 60 4.9 294 80 4.9 392 100 4.9 490 (i) Write an algebraic expression representing the revenue R as a function of the number of cupcakes x sold. (ii) Graph both functions on the same coordinate axes. (iii) From your graph find coordinatae at which cost equals revenue. (vi) Using your graph,determine how many cupcakes need to be made to produce revenue of at least $1,029.How much profit is made for this number of cupcakes?
- The Trouser Company has fixed costs of 2,400 per week. In addition, we have some information about its total costs of production.Output020406080100120140TC2400530067007200770091001200017400a) For each of the output levels in the table, calculate the Trouser Company’s average variable costs (AVC), average (total) cost (AC) and marginal cost (MC).b) Sketch a diagram showing the marginal cost curve, the average variable cost curve, and the firm’s short run supply curve. c) Explain how the firm would maximise its profit, assuming that it faces conditions of perfect competition, in the short run.For Problems 15-17It costs a company $500,000 to produce 1,000 treadmills. The company’s cost will be $500,350 if it produces an additional treadmill. The company is currently producing 1,000 treadmills. A) What is the firm’s average cost for 1,000 treadmills? B) What is the firm’s marginal cost for the 1,001 treadmill? C) A customer is willing to pay $200 for the 501st treadmill. Should the company produce and sell it? (Enter yes or no and briefly explain your reasoning)Find the value of A. Quantity Total Cost $5,000 Fixed Cost Variable Cost Average Total Cost Average Fixed Cost Average Variable Cost $1,000 $1,000 $4,000| $7000 10 25 8000 A 40 11300 55 15050 70 19700 $8 $200 $280 $320
- The economic profit is $3000, Total revenue is $5000, explicit cost is $800 Calculate implicit costOutput Total Fixed Cost (TFC) Total Variable Cost (TVC) Total Cost (TC) Average Fixed Cost (AFC) Average Variable Cost (AVC) Average Cost (AC) Marginal Cost (MC) 0 200 - 1 40 2 44 3 330 4 50 90 5 37Your company paid a corporate spy to find out the short-run cost of a competitor. The spy obtained the information below on your competitor's quantities, total variable cost, and total cost. An X appears in place of numbers the spy failed to get. Your boss asks you to calculate some of the information the spy was not able to obtain. Fill in the blanks below with the missing information. Output quantity Total variable cost Total cost 0 $0 $250 25 450 50 300 X 75 375 100 600 850 125 X 1125 150 1200 X 175 1875 200 2000 2250