producer surplus
=revenues-total cost
=(30*4)-(7+10+15+20)
=68
the above is answer..
Table 4-3 Marko's Polos Marginal Cost (dollars) $7 10 - 1st shirt 2nd shirt 3rd shirt...
The graph shows the marginal costs of chemical production. Cost (dollars per ton) Draw an arrow to show the marginal external cost of producing the 3rd ton of chemicals in a week. cost is the cost of producing an additional unit of a good O A. that falls on people other than the producer of the good O B. that is borne by the buyer of the good that falls on the entire society C, O D. that is borne...
19. Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Average Total Cost 0 $24 $16 $50 $108 Refer to Table 13-16. What is the fixed cost of producing units of output? a. $16 b. $24 C. $12 d. $0 20. Refer to Table 13-16 in Question 19. What is the total cost of producing 2 units of output? a $76 b. $74 C. $58 d. $50 21. Refer to Table 13-16 in...
For the firm described in the table below, what is the marginal cost of producing the 4th flashlight? Variable Cost ($) Quantity of Fixed Cost Flashlights ($) 0 20 20 2 20 - 15 2. 25 3 20 37 4 20 52 $12 $20 $15 ☺ ☺ ☺ $37 $52 If the firm described in the table below produces 3 flashlights, what is the average cost per unit, in dollars? Variable Cost ($) Quantity of Fixed Cost Flashlights 0 20...
Use the figure below to answer the following questions. Price (dollars per inhaler) 10 7 4. 2 MC MR 0 4 8 1216 20 Quantity (millions) 4) Prime Pharmaceuticals has developed a new asthma inhaler, for which it has a patent. An inhaler can be produced at a constant marginal cost of $2 per inhaler. The demand curve, marginal revenue curve, and marginal cost curve for this new asthma inhaler are shown in Figure 13.4.6. The patent gives Prime Pharmaceuticals...
Quantity of Coffee Produced (units) Marginal Cost 0 -- 1 $3 $2 N 3 $1 4 $2 5 $3 6 $4 7 $5 Northwest Coffee Co. is a firm in a perfectly competitive market. Each time it sells a unit of coffee, it total revenue increases by $4. The marginal cost of producing different quantities of coffee is given the table above. The marginal cost of the profit-maximizing quantity is $2 $3 N O $1 $4
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A firm's average fixed cost (AFC) is 10 when it produces Q=2. Then at Q=5, AFC is ... ОА. 8 Ов. 2 ос. 20 In a perfectly competitive market, the demand for a single firm's product is always O A. perfectly inelastic. O B. exactly as elastic as the market demand curve. O C. inelastic, but not perfectly inelastic. O D. perfectly elastic. As a firm's output increases: O A. average variable cost...
6. Scenario: Selma runs a pastry shop. The following table shows the total number of cupcakes produced as a function of the number of hours of labor put into making them. Hours of Labor Cupcakes 0 0 1 10 2 25 3 35 4 44 5 52 6 58 Refer to the scenario above. At which hour of labor does Diminishing (Marginal) Returns first start? a. 2nd b. 6th c. 3rd d. 4th 7. Specialization is the result of ________....