Table 13-3
Number of |
Output |
Fixed |
Variable |
Total |
0 |
0 |
$50 |
$0 |
$50 |
1 |
90 |
$50 |
$20 |
$70 |
2 |
170 |
$50 |
$40 |
$90 |
3 |
230 |
$50 |
$60 |
$110 |
4 |
240 |
$50 |
$80 |
$130 |
Refer to Table 13-3. If the firm can sell its
output for $1 per unit, what is the profit-maximizing level of
output?
a. |
170 units |
|
b. |
190 units |
|
c. |
240 units |
|
d. |
230 units |
TR = P * Q
Profit = TR - TC
Workers | Output | FC | VC | TC | TR | Profit |
0 | 0.00 | 50 | 0 | 50 | 0 | -50 |
1 | 90.00 | 50 | 20 | 70 | 90 | 20 |
2 | 170.00 | 50 | 40 | 90 | 170 | 80 |
3 | 230.00 | 50 | 60 | 110 | 230 | 120 |
4 | 240.00 | 50 | 80 | 130 | 240 | 110 |
From the table we see, profit is maximum when 230 units are produced
option D is correct answer
Table 13-3 Number of Workers Output Fixed Cost Variable Cost Total Cost 0 0 $50 $0...
Table B Number of Workers 0 1 2 Output Fixed Cost O $50 90 $50 170 $50 230 $50 240 $50 Variable Cost $0 $20 $40 $60 $80 Total Cost $50 $70 $90 $110 $130 Refer to Table B. At which number of workers does diminishing marginal product begin? 1 O2 03 04
Economies of scale occur when Select one: a. long-run average total costs rise as output increases. b. long-run average total costs fall as output increases. c. long-run average total costs are constant. NumberofWorkers Output FixedCost VariableCost TotalCost 0 0 $50 $0 1 90 $50 $20 $70 2 170 $50 $40 3 230 $50 $60 $110 4 240 $80 $130 Refer to Table 13-3. If the firm produces an output of 170 units, what is the total cost? Select one: a....
Cost schedule Total variable Total cost Labor Output (units per day) cost (dollars) (workers) (dollars) 0 30 1 3 20 50 2 40 70 3 12 60 90 4 14 80 110 5 15 100 130 In the above table, the total fixed cost is O $20 O $30. O $0. O $50. Question 13 1 pts In the above table, when output increases from 12 to 14 units, the marginal cost of one of those 2 units is O...
Total Product Total Variable Cost Total Fixed Cost $150 150 0 $ OL 1 50 2 150 75 3 150 105 4 150 145 5 150 200 6 150 270 7 150l 360 8 150 475 9 150 620 10 150 800 Refer to the accompanying cost table. If a competitive firm faced with these costs finds that it can sell its product at $60 per unit, it will o produce 6 units and incur a loss of $30. o...
Total Output Total fixed cost Total Variable cost Total cost 0 50 0 50 1 50 70 120 2 50 120 170 3 50 150 200 4 50 220 270 5 50 300 350 6 50 390 440 Answer the next question on the basis of the above cost data for a purely competitive seller: Refer to the above data. Given the $75 product price, at its optimal price the firm will: a. Realize a $25 Economic Profit b. Realize...
Table 13-9 Output Total Cost 니c 0 40 10 60 20 90 30 130 40 180 50 240 5. Refer to Table 13-9. What is average variable cost when output is 50 units? $3.60 b. $4.00 $4.40 d. $4.80 a. с.
3. Given the following information: Quantity Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost 1 300 100 400 100 2 150 75 225 50 3 100 70 170 60 4 75 73 148 80 5 60 80 140 110 6 50 90 140 140 7 43 103 146 180 8 38 119 157 230 9 33 138 290 10 30 160 360 a) If market price is $140, then… 1. the firm will produce quantity ___________ 2....
Table 13-9 4o Output 0 10 20 30 40 Total Cost 40 60 90 130 180 240 50 6. Refer to Table 13-9. What is variable cost when output equals 30 units? -- :a. $4.00 - --b. $4:33. ------- c. $40.00 - d. $90.00 . .
Number of Workers Total Output (units) Variable Costs ($) Fixed Costs ($) 150 25 150 150 W 110 130 145 155 160 000 80 150 Refer to the table above. What is the firm's marginal cost when it produces 55 units of the good? 50.33 $0.50 $0.66 $0.75 • Previous
Table 13-1 Number of Workers Total Output Marginal Product 140 6. Refer to Table 13-1. What is total output when 2 workers are hired? a. 15 b. 45 c. 75 d. 120 et de 7. Refer to Figure 13-2. If the figure represented production at a cookie factory, the factory would be experiencing a. diminishing marginal product of workers b. diminishing marginal cost of cookie production c. decreasing cost of cookie production d. decreasing output of cookies. Wose Jan started...