Homework Answers
Ans. 1. = (Option D) VC
In Short Run, Smallest Cost at which the firm will continue to Operate is VC.
Only in Short Run, At
minimum level of VC, firm will continue to operate as Firm is
atleast covering its Variable Costs ana
having
losses of Fixed
Costs.
Ans. 2. = at P = $12 , as this price is lesser than VC the firm will shut down and Stop the Production. Hence, Output would be Equal to 0 Units.
But
if firm continues the Production then
Output
would
be
Equal to 10
Units.
Ans.
3. = In Long Run,
Competition
causes
the
companies to Operate on their Minimum ATC, where the firms earn
only Normal Profits (or Zero Economic
Profits).
Ans.
4. = at P = $12, If firm Continues the Production
then
AVC
would
be Equal to
$20.
Ans.
5. = at P = 57, ATC would be Equal to $33. ATC would
be
equal
to
the Corresponding Price at the point where MR =
MC.
_______________________________________
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Thanks
_______________________________________
ATC 57 51 30 27 AVC 23 20 16 МС, 12 0 10 12 60 70...
ATC 57 51 30 27 AVC 23 20 16 МС, 12 0 10 12 60 70 P-$30 results in Qºo1 00 AATC 57 51 30 AVC 20 16 MC 12 0 10 12 60 70 P-516 results an Q with an ATC of $. 51 GE ATC 57 51 30 27 AVC 23 20 MC 12 0 10 12 60 70 P=512 results with an ATOOS WATC 67 61 33 30 27 AVC 23 20 16 MO 12 10 12...
Economics Question 1: Question 2: Q FC | VC TC AFC AVC ATC MC 920 475...
Economics
Question 1:
Question 2:
Q FC | VC TC AFC AVC ATC MC 920 475 60 10 What is the AVC at Q=2 equal to? [Type a whole number, no gaps.] FC VC TC AFC AVC ATC MC 920 475 60 What is the ATC at Q=3 equal to? [Type a whole number, no gaps.]
L K Q VC FC TC AVC AFC ATC MC 0 5 0 0 5 5...
L K Q VC FC TC AVC AFC ATC MC 0 5 0 0 5 5 1 5 2 2 5 7 1.00 2.50 3.50 1.00 2 5 6 4 5 9 0.67 0.83 1.50 0.50 3 5 12 6 5 11 0.50 0.42 0.92 0.33 4 5 19 8 5 13 0.42 0.26 0.68 0.29 5 5 25 10 5 15 0.40 0.20 0.60 0.33 6 5 28 12 5 17 0.43 0.18 0.61 0.67 7 5 29 14...
Given the below table: Q FC VC TC AFC AVC ATC MC 0 120 1 180...
Given the below table: Q FC VC TC AFC AVC ATC MC 0 120 1 180 2 220 3 270 4 360 5 470 6 600 Complete the table. Draw the diagram with the curves of TC, VC and FC. Draw the diagram of the curves of ATC, AVC and AFC.
nk spaces of this table. Note that Q, VC. TC, AFC. AVC. ATC. an o output,...
nk spaces of this table. Note that Q, VC. TC, AFC. AVC. ATC. an o output, variable cost, total cost, average fixed cost, average the blank of total cost, and marginal cost, respectively. (10 Points) AFC TAVG 50 n/a n/a n/a n/a 10 10 10 60 30 80 30 6.67 20 36.67 100 150 12.5 37.5 150 30 8.3535 43.33 60 b Please graph the ATC, FC, MC curve respectively (5 Points) c What is shape of ATC and can...
Find FC, VC, TC, AFC, AVC, ATC, and MC from the following table. Capital costs $50 per unit, and two units of capital a...
Find FC, VC, TC, AFC, AVC, ATC, and MC from the following table. Capital costs $50 per unit, and two units of capital are used in the short run. Labor costs $20 per unit. 7. Total Cost Average Average Marginal Variable Cost |(MC) Fixed Units of Units of Variable Average Fixed Labor (L) Cost (FC) Cost (VC) (TC) Total Cost Output (ATC) (Q) Cost Cost (AFC) (AVC) 0 0 1 2 2 4 3 6 4 8 10
6-9 please Use the following table to answer questions 6-9: Number of VC MC AVC Earrings FCTC AFC ATC 0 B 2 30...
6-9
please
Use the following table to answer questions 6-9: Number of VC MC AVC Earrings FCTC AFC ATC 0 B 2 30 А 20 D 180 6) What should the value for "A" be? a) 15 b) 20 c) 25 d) 30 e) 35 7) What should the value for "B" be? a) 50 b) 60 c) 70 d) 80 e) None of the above. 8) What should the value for "C" be? a) 36.67 b) 40 c) 43.33...
Quantity FC VC AFC AVC ATC MC [1] [2] [3] [4] [5] [6] [7] [8] [9]...
Quantity FC VC AFC AVC ATC MC [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] 30
Output (Cases) Fixed Cost Variable Cost Total cost ATC AVC MC () 0 20 - 20...
Output (Cases)
Fixed Cost
Variable Cost
Total cost
ATC
AVC
MC ()
0
20
-
20
1
20
12
32
32.00
12.00
12
2
20
20
40
20.00
10.00
8
3
20
28
48
16.00
9.33
8
4
20
37
57
14.25
9.25
9
5
20
47
67
13.40
9.40
10
6
20
61
81
13.50
10.17
14
7
20
81
101
14.43
11.57
20
8
20
116
136
17.00
14.50
35
9
20
171
191
21.22
19.00
55
Output(Cases)...
Q FC VC TC AFC AVC ATC MC 0 15 000 0 15 000 - -...
Q FC VC TC AFC AVC ATC MC 0 15 000 0 15 000 - - - - 100 15 000 15 000 30 000 150 150 300 15 000 200 15 000 25 000 40 000 75 125 200 10 000 300 15 000 37 500 52 500 50 125 175 12 500 400 15 000 75 000 90 000 375 187.5 225 37 500 500 15 000 147 500 162 500 30 295 325 72500 600 15 000...
ATC 57 51 30 27 AVC 23 20 16 МС, 12 0 10 12 60 70 P-$30 results in Qºo1 00 AATC 57 51 30 AVC 20 16 MC 12 0 10 12 60 70 P-516 results an Q with an ATC of $. 51 GE ATC 57 51 30 27 AVC 23 20 MC 12 0 10 12 60 70 P=512 results with an ATOOS WATC 67 61 33 30 27 AVC 23 20 16 MO 12 10 12...
Economics
Question 1:
Question 2:
Q FC | VC TC AFC AVC ATC MC 920 475 60 10 What is the AVC at Q=2 equal to? [Type a whole number, no gaps.] FC VC TC AFC AVC ATC MC 920 475 60 What is the ATC at Q=3 equal to? [Type a whole number, no gaps.]
nk spaces of this table. Note that Q, VC. TC, AFC. AVC. ATC. an o output, variable cost, total cost, average fixed cost, average the blank of total cost, and marginal cost, respectively. (10 Points) AFC TAVG 50 n/a n/a n/a n/a 10 10 10 60 30 80 30 6.67 20 36.67 100 150 12.5 37.5 150 30 8.3535 43.33 60 b Please graph the ATC, FC, MC curve respectively (5 Points) c What is shape of ATC and can...
Find FC, VC, TC, AFC, AVC, ATC, and MC from the following table. Capital costs $50 per unit, and two units of capital are used in the short run. Labor costs $20 per unit. 7. Total Cost Average Average Marginal Variable Cost |(MC) Fixed Units of Units of Variable Average Fixed Labor (L) Cost (FC) Cost (VC) (TC) Total Cost Output (ATC) (Q) Cost Cost (AFC) (AVC) 0 0 1 2 2 4 3 6 4 8 10
6-9
please
Use the following table to answer questions 6-9: Number of VC MC AVC Earrings FCTC AFC ATC 0 B 2 30 А 20 D 180 6) What should the value for "A" be? a) 15 b) 20 c) 25 d) 30 e) 35 7) What should the value for "B" be? a) 50 b) 60 c) 70 d) 80 e) None of the above. 8) What should the value for "C" be? a) 36.67 b) 40 c) 43.33...
Quantity FC VC AFC AVC ATC MC [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] 30
Output (Cases)
Fixed Cost
Variable Cost
Total cost
ATC
AVC
MC ()
0
20
-
20
1
20
12
32
32.00
12.00
12
2
20
20
40
20.00
10.00
8
3
20
28
48
16.00
9.33
8
4
20
37
57
14.25
9.25
9
5
20
47
67
13.40
9.40
10
6
20
61
81
13.50
10.17
14
7
20
81
101
14.43
11.57
20
8
20
116
136
17.00
14.50
35
9
20
171
191
21.22
19.00
55
Output(Cases)...
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