Homework Answers
Ans) the correct option is c) $ 40
Fixed cost is the total cost at quantity 0 = 200
Average fixed cost = 200/5 = 40
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Use the cost data below that is provided for HQ, a computer manufacturer. The data is...
Next SIX questions are related to the following data: The following is a random sample of...
Next SIX questions are related to the following data: The following is a random sample of n = 90 undergraduate students' annual textbook expense. 610 600 300 420 520 470 430 520 400 370 730 480 450 500 650 370 540 330 690 550 450 450 750 750 660 700 300 770 760 390 680 450 590 630 530 700 580 390 330 320 350 490 310 320 780 590 370 470 760 550 630 450 640 620 520 440...
I just need help with questions 5 and 6 370 300 630 530 Next SIX questions...
I just need help with questions 5 and 6
370 300 630 530 Next SIX questions are related to the following data: The following is a random sample of n = 90 undergraduate students' annual textbook expense. 610 600 300 420 520 470 430 520 400 370 730 480 450 500 650 540 330 690 550 450 450 750 750 660 700 770 760 390 680 590 700 580 390 330 320 350 490 310 320 780 370 760 630...
Question 2 2/2 pts Assume the following cost and revenue data represent your perfectly competitive firm....
Question 2 2/2 pts Assume the following cost and revenue data represent your perfectly competitive firm. In order to maximize profits in the short run, you should: Output Price Marginal Cost 2 3 4 5 $100 $100 $100 $100 $100 $100 $100 Total Fixed Costs $20 $20 $20 $20 $20 $20 $20 Total Variable Total Cost Costs $0 $20 $50 $70 $90 $110 $150 $170 $230 $250 $350 $370 $550 $570 na $50 $40 $60 $80 $120 $200 Shut down...
Use the following to answer questions 39-40 Total cost Total $1,400 1,200 1,000 800 400 200...
Use the following to answer questions 39-40 Total cost Total $1,400 1,200 1,000 800 400 200 0 100 440 320 Output 39. Refer to the above short-run data. Total fixed cost for this firm: A) is about $67. B) Vis 5300. C) is $200. D is $100. data given E) cannot be determined from the 40. Refer to the above short-run data. The profit maximizing output for this firm is: A) above 440 units. B) 440 units. C) 320 units....
Use Data Set D, Single Engine Aircraft Performance (Airplanes), on page 535 of your textbook to...
Use Data Set D, Single Engine Aircraft Performance (Airplanes), on page 535 of your textbook to answer the following questions. The first column is X, or the independent variable and the second column is Y, or the dependent variable. Use MINITAB to obtain the simple regression equation, confidence interval, prediction interval, and required graphs. Insert tables and graphs in your report as appropriate. Use Minitab and produce the appropriate output to answer the following questions. Attach or include the Minitab...
Dohini Manufacturing Company had the following 12 months of data on purchasing cost and number of...
Dohini Manufacturing Company had the following 12 months of data on purchasing cost and number of purchase orders. Number of Purchasing Purchase Month Cost Orders January $18,860 370 February 18,040 330 March 19,250 370 April 18,050 410 May 19,345 400 June 19,500 450 July 19,670 460 August 20,920 570 September 19,430 440 October 20,020 500 November 18,800 470 December 19,340 480 Required: 1. Determine the high point and the low point. Month with high number of purchase orders Month with...
Use the following data to answer questions # 5-6 Quantity of Output Total Fixed Cost $50...
Use the following data to answer questions # 5-6 Quantity of Output Total Fixed Cost $50 50 $50 $50 $50 50 $50 $50 Total Variable Cost $40 568 590 $100 $150 $240 $315 $400 5. Using the information in the table above, the average total cost of producing five units of A] $40 (8] $50 C] $150 D] $200 ing the infomation in the table above, the marginal cost of the seventh unit of output is [A] $50 B] S75...
The table shows cost data of a purely competitive firm. Use this data to determine if...
The table shows cost data of a purely competitive firm. Use this data to determine if each statement is true or false. Assume that any losses that the firm may earn are temporary, Output 100 200 Total fixed cost $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 Total variable cost SO $18,000 $30,000 $46,000 $66,000 $92,000 300 400 500 If the market price is $160, then the firm will shut down. If the market price is $200, then the breakeven point is...
In the table below, What is the average fixed cost (AFC) associated with 2 units of...
In the table below, What is the average fixed cost (AFC) associated with 2 units of output? Table: Cost Data Quantity Variable Cost Total Cost of Output (VC) (TC) 50 100 50 100 140 190 250 320 120 150 190 240 300 370 $35 Oo $0 $60 $25
CHAPTER 8 HW - MICRO Use the table below to answer the next 3 questions Units...
CHAPTER 8 HW - MICRO Use the table below to answer the next 3 questions Units of Output Total Fixed Cost Total Variable Cost 1 $1000 $200 2 450 3 800 4 1350 5 1950 5. Given the cost schedule above, the ATC of producing 4 units is (a) $550 (c) $1000 (b) $588 (d) $2350 7. Given the cost schedule above, the TC of producing 3 units of output is (a) $800 (c) $1800 (b) $1000 (d) $2800...
I just need help with questions 5 and 6
370 300 630 530 Next SIX questions are related to the following data: The following is a random sample of n = 90 undergraduate students' annual textbook expense. 610 600 300 420 520 470 430 520 400 370 730 480 450 500 650 540 330 690 550 450 450 750 750 660 700 770 760 390 680 590 700 580 390 330 320 350 490 310 320 780 370 760 630...
Question 2 2/2 pts Assume the following cost and revenue data represent your perfectly competitive firm. In order to maximize profits in the short run, you should: Output Price Marginal Cost 2 3 4 5 $100 $100 $100 $100 $100 $100 $100 Total Fixed Costs $20 $20 $20 $20 $20 $20 $20 Total Variable Total Cost Costs $0 $20 $50 $70 $90 $110 $150 $170 $230 $250 $350 $370 $550 $570 na $50 $40 $60 $80 $120 $200 Shut down...
Use the following to answer questions 39-40 Total cost Total $1,400 1,200 1,000 800 400 200 0 100 440 320 Output 39. Refer to the above short-run data. Total fixed cost for this firm: A) is about $67. B) Vis 5300. C) is $200. D is $100. data given E) cannot be determined from the 40. Refer to the above short-run data. The profit maximizing output for this firm is: A) above 440 units. B) 440 units. C) 320 units....
Dohini Manufacturing Company had the following 12 months of data on purchasing cost and number of purchase orders. Number of Purchasing Purchase Month Cost Orders January $18,860 370 February 18,040 330 March 19,250 370 April 18,050 410 May 19,345 400 June 19,500 450 July 19,670 460 August 20,920 570 September 19,430 440 October 20,020 500 November 18,800 470 December 19,340 480 Required: 1. Determine the high point and the low point. Month with high number of purchase orders Month with...
Use the following data to answer questions # 5-6 Quantity of Output Total Fixed Cost $50 50 $50 $50 $50 50 $50 $50 Total Variable Cost $40 568 590 $100 $150 $240 $315 $400 5. Using the information in the table above, the average total cost of producing five units of A] $40 (8] $50 C] $150 D] $200 ing the infomation in the table above, the marginal cost of the seventh unit of output is [A] $50 B] S75...
The table shows cost data of a purely competitive firm. Use this data to determine if each statement is true or false. Assume that any losses that the firm may earn are temporary, Output 100 200 Total fixed cost $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 Total variable cost SO $18,000 $30,000 $46,000 $66,000 $92,000 300 400 500 If the market price is $160, then the firm will shut down. If the market price is $200, then the breakeven point is...
In the table below, What is the average fixed cost (AFC) associated with 2 units of output? Table: Cost Data Quantity Variable Cost Total Cost of Output (VC) (TC) 50 100 50 100 140 190 250 320 120 150 190 240 300 370 $35 Oo $0 $60 $25
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