Homework Answers
Table
| Q | TC | ATC= TC/Q | MC |
| 0 | 5000 | - | - |
| 50 | 5750 | 115 | 15 |
| 100 | 6475 | 64.75 | 14.5 |
| 150 | 7140 | 47.6 | 13.3 |
| 200 | 7650 | 38.25 | 10.2 |
| 250 | 8290 | 33.16 | 12.8 |
| 300 | 9000 | 30 | 14.2 |
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QUESTION 13 The Dusty Company has the following cost schedule. Fill the blanks in the table...
Fill in the blanks in the table below, which lists output quantity and total cost, and...
Fill in the blanks in the table below, which lists output quantity and total cost, and then plot the values on the graph that follow. Quantity 0,1,2,3,4,5,6,7,8 Total 4,6,8,10,12,14,16,18,20 what is the average and marginal?
Teresa's daily production schedule is presented in the following table. Fill in the blanks to complete...
Teresa's daily production schedule is presented in the following table. Fill in the blanks to complete the Marginal Product of Labor column for each worker. Labor Output Marginal Product of Labor (Number of workers) (Pizzas) (Pizzas) 0 0 1 70 2 120 3 160 4 190 5 200 On the following graph, plot Teresa's production function using the green points (triangle symbol). Note: Plot your points in the order in which you would like them connected. Line segments will connect...
Production Costs Fill out the following table and graph the average variable cost, average total cost,...
Production Costs Fill out the following table and graph the average variable cost, average total cost, and marginal costs Output tables/day Total cost Variable cost Average Total Cost Average variable cost Marginal Cost 0 $50 1 60 2 80 3 115 4 170 5 250 6 350 1) What is the dollar amount of the fixed costs of production? $50 2) For 5 tables, what is the average fixed cost and the average variable cost?
Homework (Ch 10) Assume that a firm in a perfectly competitive industry has the following total cost schedule: Calc...
Homework (Ch 10) Assume that a firm in a perfectly competitive industry has the following total cost schedule: Calculate a marginal cost and an average cost schedule for the firm to complete the following table. Marginal Cost Average Cost ($) (S) Output Total Cost (units) ($) 220 300 600 770 960 If the prevailing market price is $34 per unit, units will be produced. Profits per unit will be and total profits will be Is the industry in long-run equilibrium...
cept Question 2.14 Question Help following table shows the total cost schedule for a perfectly competitive firm. T...
cept Question 2.14 Question Help following table shows the total cost schedule for a perfectly competitive firm. The current price in this industry is $8. Fill in the marginal revenue and marginal cost mns of the table. (Enter your response as an integer) Output (units) (Q) Marginal Revenue (MR) Total Cost Marginal Cost (MC) (TC) 20 1 22 2 26 3 32 4 40 5 50
Question 1 Fill in the blank to make the following statements correct. 1.1 The technological relationship...
Question 1 Fill in the blank to make the following statements correct. 1.1 The technological relationship between the inputs of factor services and outputs is called the 1.2 A firm's planning decisions made when some inputs are variable but others are fixed are made in the time period known as the _. The time period over which all factors are variable but technology is fixed is known as the 1.3 The change in total output resulting from the use of...
Assume that a purely competitive firm has the following schedule of average and marginal costs: Output...
Assume that a purely competitive firm has the following schedule of average and marginal costs: Output 1 AFC $300 150 100 No от во 60 50 43 38 33 30 AVC $100 75 70 73 80 90 103 119 138 160 ATC $400 225 170 148 140 140 146 156 171 190 MC $100 50 60 80 110 140 180 230 290 360 9 10 e. At a price of $55, the firm would produce units of output. At a...
Assume that the cost data in the following table are for a purely competitive producer:
Assume that the cost data in the following table are for a purely competitive producer: TotalProductAverageFixed CostAverageVariable CostAverageTotal CostMarginal Cost01$60.00$45.00$105.00$45.00230.00 42.50 72.5040.00320.00 40.00 60.0035.00415.00 37.50 52.5030.00512.00 37.00 49.0035.00610.00 37.50 47.5040.0078.57 38.57 47.1445.008 7.50 40.63 48.1355.009 6.67 43.33 50.0065.0010 6.00 46.50 52.5075.00 Instructions: If you are entering any negative numbers be sure to include a negative sign (−) in front of those numbers. Select "Not applicable" and enter a value of "0" for output if the firm does not produce. a. At a product price of $66.00 (i) Will this firm produce in the short run? (Click to select) No Yes (ii) If it is preferable to produce, what...
Same question/divided into two parts Assume that the following cost data are for a purely competitive...
Same question/divided into two parts
Assume that the following cost data are for a purely competitive producer: as Total Product Average Fixed Total Product Cost 0 na 1 $ 60.00 2 $ 30.00 $ 20.00 $ 15.00 12.00 $ 10.00 $ 8.57 $ 7.50 $ 6.67 10 6 .00 Average Average Total eost Average Total Marginal Cost Variable Cost Cost 0 .00 5 0 .00 na $ 45.00 $ 105.00 $ 45.00 $ 42.50 $ 72.50 $ 40.00 $ 40.00...
Assume that the following cost data are for a purely competitive producer: Average Fixed Average Average Total...
Assume that the following cost data are for a purely competitive producer: Average Fixed Average Average Total Variable Cost Marginal Cost Total Product Cost Cost 000 S 0.00 na na 45.00 S 105.00 72.50 $ 45.00 60,00 S 42.50 S 40.00 30.00 S 6000 S 35.00 2000 S 40.00 S 52.50 S 30.00 15.00 $ 3760 S 3500 49.00 $ 12.00 S 37.00 S 1000$ 37.50 S 47.50 S 47.14 S 40.00 3857 S 45.00 857 $ 48.13 S 55.00 4063...
Homework (Ch 10) Assume that a firm in a perfectly competitive industry has the following total cost schedule: Calculate a marginal cost and an average cost schedule for the firm to complete the following table. Marginal Cost Average Cost ($) (S) Output Total Cost (units) ($) 220 300 600 770 960 If the prevailing market price is $34 per unit, units will be produced. Profits per unit will be and total profits will be Is the industry in long-run equilibrium...
cept Question 2.14 Question Help following table shows the total cost schedule for a perfectly competitive firm. The current price in this industry is $8. Fill in the marginal revenue and marginal cost mns of the table. (Enter your response as an integer) Output (units) (Q) Marginal Revenue (MR) Total Cost Marginal Cost (MC) (TC) 20 1 22 2 26 3 32 4 40 5 50
Question 1 Fill in the blank to make the following statements correct. 1.1 The technological relationship between the inputs of factor services and outputs is called the 1.2 A firm's planning decisions made when some inputs are variable but others are fixed are made in the time period known as the _. The time period over which all factors are variable but technology is fixed is known as the 1.3 The change in total output resulting from the use of...
Assume that a purely competitive firm has the following schedule of average and marginal costs: Output 1 AFC $300 150 100 No от во 60 50 43 38 33 30 AVC $100 75 70 73 80 90 103 119 138 160 ATC $400 225 170 148 140 140 146 156 171 190 MC $100 50 60 80 110 140 180 230 290 360 9 10 e. At a price of $55, the firm would produce units of output. At a...
Same question/divided into two parts
Assume that the following cost data are for a purely competitive producer: as Total Product Average Fixed Total Product Cost 0 na 1 $ 60.00 2 $ 30.00 $ 20.00 $ 15.00 12.00 $ 10.00 $ 8.57 $ 7.50 $ 6.67 10 6 .00 Average Average Total eost Average Total Marginal Cost Variable Cost Cost 0 .00 5 0 .00 na $ 45.00 $ 105.00 $ 45.00 $ 42.50 $ 72.50 $ 40.00 $ 40.00...
Assume that the following cost data are for a purely competitive producer: Average Fixed Average Average Total Variable Cost Marginal Cost Total Product Cost Cost 000 S 0.00 na na 45.00 S 105.00 72.50 $ 45.00 60,00 S 42.50 S 40.00 30.00 S 6000 S 35.00 2000 S 40.00 S 52.50 S 30.00 15.00 $ 3760 S 3500 49.00 $ 12.00 S 37.00 S 1000$ 37.50 S 47.50 S 47.14 S 40.00 3857 S 45.00 857 $ 48.13 S 55.00 4063...
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