Homework Answers
Answer: $10
Breakeven point is a point where marginal cost curve cuts the average total cost. It is a point where there is no profit or loss. Here, the marginal cost cuts the minimum of average total cost at $10.
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Question 5 Refer to the information provided in Figure 9.1 below to answer the question that...
Question of 20 Question 6 2.5 points Save A Refer to the information provided in Figura...
Question of 20 Question 6 2.5 points Save A Refer to the information provided in Figura 9.1 below to answer the question that follows. Cost and demand conditions MC AMC Id-MR 3 6 9 12 16 17 9 Bushels of what If this farmer is maximizing profits, his total costs not average total cost will be (Some hints: This is a producer in a Perfectly Competitive market. What condition mac h is profit 506 $90 $132
1)for this farmer to maximize profits, he should produce___bushels of wheat. explain 2) farmer fixed costs...
1)for this farmer to maximize profits, he should
produce___bushels of wheat. explain
2) farmer fixed costs are___. how could you find these?
3) if this farmer maximizing profit, his profit will be__.
explain
4) this farmer would earn a zero economicc profit price was___
explain
Cost and demand conditions M MC ATC AVC d = MR ū7 Price per bushel + 1 i II | | | | | | | | 3 9 6 9 12 16 17 Bushels...
Question 9 Refer to the information for Armstrong Cable provided in Figure 13.7 below to answer...
Question 9 Refer to the information for Armstrong Cable provided in Figure 13.7 below to answer the question that follows. 16 15 Dollars 13.00 12.50 + 12 = MC ATC MR 800 1,000 2,000 2,500 Q Number of cable subscribers If the government regulates Armstrong Cable so they can earn only a normal return, the price would be set $4 lower $1 higher than if the company was not regulated. $3 lower $0.50 lower Question 10 Refer to the information...
Refer to the information provided in Figure 3.7 below to answer the questions that follow $4...
Refer to the information provided in Figure 3.7 below to answer the questions that follow $4 Price of pizza B C Dz 0 •D, D₂ Number of plazas per month Figure 3.7 Refer to Figure 3.7. An increase in demand is represented by the movement along D2 from Point B to Point C. from D2 to Di. along D2 from Point B to Point A. from D2 to Dz. Refer to the information provided in Figure 13.3 below to answer...
Refer to the information provided in Figure 8.6 below to answer the questions that follow. Cost...
Refer to the information provided in Figure 8.6 below to answer the questions that follow. Cost curves for Outdoor Equipment 1 B 3 Cost per unit 2 A Number of sleeping bags 9 Figure 8.6 Refer to Figure 8.6. Curve 1 is Outdoor Equipment's cost curve. average variable marginal average fixed average total Refer to the information provided in Figure 13.9 below to answer the questions that follow. $A A G B Dollars E C MC = AC D MR...
QUESTION 11 Refer to the information provided in Figure 10.2 below to answer the question(s) that...
QUESTION 11 Refer to the information provided in Figure 10.2 below to answer the question(s) that follow. MC, MC Dollars Units of labor Figure 10.2 __the amount of Refer to Figure 10.2. This firm's marginal cost curve has shifted from MC 1 to MCO A profit-maximizing firm should output produced and —_ its demand for labor. o keep constant, increase decrease; decrease increase; increase increase; decrease
Question 32 (1 point) Refer to the information provided in Figure 8.9 below to answer the...
Question 32 (1 point) Refer to the information provided in Figure 8.9 below to answer the questions that follow. MC 24 ATC P = MR Price 4 0 100 700 350 500 Bales of hay Figure 8.9 Refer to Figure 8.9. if the price jay falls to 18, to maximize profits, the firm should. O produce 700 to minimize fixed costs O produce 350 and break even- reduce production to 500 shut down to avoid losses
Refer to the information provided in Figure 8.9 below to answer the questions that follow. SA...
Refer to the information provided in Figure 8.9 below to answer the questions that follow. SA MC ATC P = MR 24 20 18 Price 0 100 350 500 700 4 Bales of hay Figure 8.9 Refer to Figure 8.9. if the price jay falls to 18, to maximize profits, the firm should. produce 700 to minimize fixed costs O produce 350 and break even- reduce production to 500 shut down to avoid losses If P = MC and MC...
Refer to the figure above. In the $6-$7 price range, the firm will Group of answer choices a)shut down. b)earn a profit...
Refer to the figure above. In the $6-$7 price range, the firm
will
Group of answer choices
a)shut down.
b)earn a profit
c)break even
d)continue to operate, but at a loss
b. A representative firm a. The industry МС ATC S AVC 9 7 6 5 D2 DI 10 12 13 15 0 0 Bushels of wheat Bushels of wheat Price per bushel ($) We were unable to transcribe this image
Refer to Figure K. For this farmer to maximize profits he should produce _______ bushels of wheat
22. Refer to Figure K. For this farmer to maximize profits he should produce _______ bushels of wheat. A) 6 B) 9 C) 12 D) 16 23. Refer to Figure K. If this farmer is maximizing profits, his profit will be A) $45 B) $48. C) $72. D)-$24. 24. Refer to Figure K. This farmer would earn a zero economic profit if price was A) $7 B) $9 C) $10. D) $13. 25. Refer to Figure K. This farmer's shutdown point is at a price of _______ ;this...
Question of 20 Question 6 2.5 points Save A Refer to the information provided in Figura 9.1 below to answer the question that follows. Cost and demand conditions MC AMC Id-MR 3 6 9 12 16 17 9 Bushels of what If this farmer is maximizing profits, his total costs not average total cost will be (Some hints: This is a producer in a Perfectly Competitive market. What condition mac h is profit 506 $90 $132
1)for this farmer to maximize profits, he should
produce___bushels of wheat. explain
2) farmer fixed costs are___. how could you find these?
3) if this farmer maximizing profit, his profit will be__.
explain
4) this farmer would earn a zero economicc profit price was___
explain
Cost and demand conditions M MC ATC AVC d = MR ū7 Price per bushel + 1 i II | | | | | | | | 3 9 6 9 12 16 17 Bushels...
Question 9 Refer to the information for Armstrong Cable provided in Figure 13.7 below to answer the question that follows. 16 15 Dollars 13.00 12.50 + 12 = MC ATC MR 800 1,000 2,000 2,500 Q Number of cable subscribers If the government regulates Armstrong Cable so they can earn only a normal return, the price would be set $4 lower $1 higher than if the company was not regulated. $3 lower $0.50 lower Question 10 Refer to the information...
Refer to the information provided in Figure 3.7 below to answer the questions that follow $4 Price of pizza B C Dz 0 •D, D₂ Number of plazas per month Figure 3.7 Refer to Figure 3.7. An increase in demand is represented by the movement along D2 from Point B to Point C. from D2 to Di. along D2 from Point B to Point A. from D2 to Dz. Refer to the information provided in Figure 13.3 below to answer...
Refer to the information provided in Figure 8.6 below to answer the questions that follow. Cost curves for Outdoor Equipment 1 B 3 Cost per unit 2 A Number of sleeping bags 9 Figure 8.6 Refer to Figure 8.6. Curve 1 is Outdoor Equipment's cost curve. average variable marginal average fixed average total Refer to the information provided in Figure 13.9 below to answer the questions that follow. $A A G B Dollars E C MC = AC D MR...
QUESTION 11 Refer to the information provided in Figure 10.2 below to answer the question(s) that follow. MC, MC Dollars Units of labor Figure 10.2 __the amount of Refer to Figure 10.2. This firm's marginal cost curve has shifted from MC 1 to MCO A profit-maximizing firm should output produced and —_ its demand for labor. o keep constant, increase decrease; decrease increase; increase increase; decrease
Question 32 (1 point) Refer to the information provided in Figure 8.9 below to answer the questions that follow. MC 24 ATC P = MR Price 4 0 100 700 350 500 Bales of hay Figure 8.9 Refer to Figure 8.9. if the price jay falls to 18, to maximize profits, the firm should. O produce 700 to minimize fixed costs O produce 350 and break even- reduce production to 500 shut down to avoid losses
Refer to the information provided in Figure 8.9 below to answer the questions that follow. SA MC ATC P = MR 24 20 18 Price 0 100 350 500 700 4 Bales of hay Figure 8.9 Refer to Figure 8.9. if the price jay falls to 18, to maximize profits, the firm should. produce 700 to minimize fixed costs O produce 350 and break even- reduce production to 500 shut down to avoid losses If P = MC and MC...
Refer to the figure above. In the $6-$7 price range, the firm
will
Group of answer choices
a)shut down.
b)earn a profit
c)break even
d)continue to operate, but at a loss
b. A representative firm a. The industry МС ATC S AVC 9 7 6 5 D2 DI 10 12 13 15 0 0 Bushels of wheat Bushels of wheat Price per bushel ($) We were unable to transcribe this image
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