Answer the next question based on the following data. Output Total Cost 0 $24 1 33...
Answer the next question based on the following data.
| Output | Total Cost |
| 0 | $24 |
| 1 | 33 |
| 2 | 41 |
| 3 | 48 |
| 4 | 54 |
| 5 | 61 |
| 6 | 69 |
The fixed cost of production is
Multiple Choice
-
$9.
-
$33.
-
$12.
-
$24.
Homework Answers
Add Answer to:
Answer the next question based on the following data.
Output
Total Cost
0
$24
1
33...
Consider the cost data below: 3 4 5 6 Output 0 1 2 Total Cost ($)...
Consider the cost data below: 3 4 5 6 Output 0 1 2 Total Cost ($) 24 33 48 54 61 69 Consider the accompanying table. The average cost of producing 3 units of output is: 41 $14 $13.67 $48 $16 $12
2 3 4 5 6 Consider the cost data below: Output 0 1 Total Cost (8)...
2 3 4 5 6 Consider the cost data below: Output 0 1 Total Cost (8) 24 33 Consider the accompanying table. The average cost of producing 6 units of output is: 41 48 54 61 69 $6.9 $16 $11.5 $12.2 $63
Answer the next question on the basis of the following cost data for a perfectly competitive...
Answer the next question on the basis of the following cost data for a perfectly competitive firm. Total Product 1 2 3 4 5 Marginal Cost $17 15 13 12 13 1 Average Fixed Cost $100.00 50.00 | 33.33 25.00 20.00 16.67 14.29 12.50 11.11 10.00 9.09 8.33 Average Variable Cost $17.00 16.00 15.00 14.25 14.00 14.00 15.71 17.50 19.44 21.60 24.00 26.67 Average Total Cost $117.00 66.ee 48.33 39.25 34.00 30.67 30.00 30.00 30.55 31.60 33.09 35.00 14 ON...
Answer the next question based on the following cost data for a competitive seller: Total Product ...
Answer the next question based on the following cost data for a competitive seller: Total Product FC VC 0 $200 $0 1 200 70 2 200 120 3 200 150 4 200 220 5 200 300 6 200 390 Refer to the above data. If the product price is $68 at its optimal output, exactly how many units should be produced to maximize profits or minimize losses? How much will the profit or...
Answer the question on the basis of the following cost data. Output Average Fixed Cost Average...
Answer the question on the basis of the following cost data. Output Average Fixed Cost Average Variable Cost 1 $50.00 $100.00 2 25.00 80.00 3 16.67 66.67 4 12.50 65.00 5 10.00 68.00 6 8.37 73.33 7 7.14 80.00 8 6.25 87.50 Total fixed cost is Multiple Choice $6.25. $100.00. $150.00. $50.00.
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)...
Answer the question on the basis of the following demand and cost data for a specific...
Answer the question on the basis of the following demand and cost data for a specific firm. Demand Data Cost Data (1) Price (2) Price (3) Quantity Output Total Cost $11.00 $10.00 6 6 $61 9.99 8.85 7 7 62 9.00 8.00 8 8 64 8.00 7.00 9 9 67 7.10 6.10 10 10 72 6.00 5.00 11 11 79 5.15 4.15 12 12 86 If columns (1) and (3) of the demand data shown are this firm's demand schedule,...
Economics: Answer the next question based on the following cost data for a competitive seller: ...
Economics: Answer the next question based on the following cost data for a competitive seller: Total Product FC VC 0 $200 $0 1 200 70 2 200 120 3 200 150 4 200 220 5 200 300 6 200 390 Refer to the above data. If the product price is $68 at its optimal output, exactly how many units should be produced to maximize profits or minimize losses? How much will the...
Total Output Total fixed cost Total Variable cost Total cost 0 50 0 50 1 50...
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...
he table below represents the hourly output and cost structure for a local pizza shop. The...
he table below represents the hourly output and cost structure for a local pizza shop. The market is perfectly competitve, and the market price of a pizza in this area is $12. Total cost include all implicit opportunity cost. Calculate the pizza shop's marginal cost and marginal revenue at each rate of output and fill in the values in the table. Total Hourly Output and Sales of Pizzas Total Hourly Cost ($) Total Revenue ($) Total Economic Profit ($) Marginal...
Consider the cost data below: 3 4 5 6 Output 0 1 2 Total Cost ($) 24 33 48 54 61 69 Consider the accompanying table. The average cost of producing 3 units of output is: 41 $14 $13.67 $48 $16 $12
2 3 4 5 6 Consider the cost data below: Output 0 1 Total Cost (8) 24 33 Consider the accompanying table. The average cost of producing 6 units of output is: 41 48 54 61 69 $6.9 $16 $11.5 $12.2 $63
Answer the next question on the basis of the following cost data for a perfectly competitive firm. Total Product 1 2 3 4 5 Marginal Cost $17 15 13 12 13 1 Average Fixed Cost $100.00 50.00 | 33.33 25.00 20.00 16.67 14.29 12.50 11.11 10.00 9.09 8.33 Average Variable Cost $17.00 16.00 15.00 14.25 14.00 14.00 15.71 17.50 19.44 21.60 24.00 26.67 Average Total Cost $117.00 66.ee 48.33 39.25 34.00 30.67 30.00 30.00 30.55 31.60 33.09 35.00 14 ON...
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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