AVC when Q is 3=125
TC of producing 5 units is 1000
MC TVC AFC AVC ATC TC Output TFC $500 $200 1 2 $800 $75 $875 $925...
Complete the following table Q TFC TVC TC AFC AVC ATC MC 0 800 ------ ----- ----- ----- 1 40 2 35 3 296 4 14 5 918
Labor TVC TC MC AFC AVC ATC 25 50 75 100 25 125 (a) Complete the blank columns (5 points). Please create a table like mine and fill it. (b) Assume the price of this product equals $10. What's the profit-maximizing output (q)? (3 points). Note: managers maximize profits by setting MR=MC and under perfectly competitive markets, MR=Price. Thus, maximize profit by producing a where P=MC.(2 points) (c) What is the profit? (3 points) TOTAL COST (TC) - the...
Consider the following table: uantity TC TFC TVC ATC AFC AVC MC 20 25 29 4 53 63 8 6.5 15 10 20 At what level of output does the firm going from economies of scale to diseconomies of scale? 6 or 7 1 or 2 8 or 9
solve for what is missing: 2. Solve for what is missing: AFC TVC AVC TC ATC X MC X 0 0 5600 I 350 100 TFC 5600 5600 5600 5600 5600 5600 150 550 750 850 200 250 1050
Complete the following short-run cost table using the information provided. Total product TFC AFC TVC AVC TC MC 0 0.0 1 3.0 2 5.0 5.0 3 9.0 7. (10 points) Answer the questions below on the basis of the above graph. (a) (3 points-1 point for short run; 1 point for long run; 1 point for how you can tell) How can you tell if these cost curves are for the short run or the long run? (b) (7 points)...
3. Given the data below, compute TR, TC, TFC, TVC, ATC, AVC, AFC, MR, MC, AR, and Profit 1 2 3 6 7 8 9 10 11 0 TC = 10 +570 - 80+ TR = 452 - 0 50. Find the profit maximizing level of output and graph all the curves. Note: for both problems. Graph all the total curves together on one graph Graph all the average and marginal curves together on one graph Graph the profit curve...
q TFC TVC TC MC AVC ATC 0 $100 $0 $100 -- -- -- 1 100 40 140 40 40 140 2 100 60 160 20 30 80 3 100 90 190 30 30 63.33 4 100 124 224 34 31 56 5 100 180 280 56 36 56 6 100 264 364 84 44 60.67 7 100 372 472 108 53.14 67.42 Refer to Table 9.2. If the market price is $34 and the firm produces 4 units of...
Find TC, MC, AFC, AVC, and ATC from the following table. Instructions: Enter your responses rounded to two decimal places. Units (Q) VC($) TC($) MC($) | AFC($) AVC($) ATC($) FC($) 100 100 100 100 100 100 40 60 TDTT 70 85 130 (Note: Marginal costs should be interpreted as between levels of output.)
Variable Resources Output MP TFC TVC TC MC ATC AFC AVC TR MR Profit 0 0 50 0 50 0 -50 1 60 60 50 120 170 2 2.83 0.83 2 141 2.35 -29 2 130 70 50 240 290 1.71 2.23 0.38 1.85 305.5 2.35 15.5 3 200 70 50 360 410 1.71 2.05 0.25 1.80 470 2.35 60 4 260 60 50 480 530 2.00 2.04 0.19 1.85 611 2.35 81 5 310 50 50 600 650 2.40...
Question 2A: Quantity TC TVC TFC ATC AVC MC 0 30 1 40 2 50 3 30 4 30 5 40 6 260 7 300 The respective cost values when the firm's output is 7, are: 360; 300; 30; 57.1; 42.9; 100. 330; 300; 30; 33; 30; 70. 330; 300; 30; 47.1; 42.9; 70. 260; 300; 30; 43.3; 42.9; 0.