Refer to table 4. How much is the total profit at equilibrium price =$30? Table 4...
Refer to table 4. How much is the total profit at equilibrium price =$30?
|
Table 4 |
|||
|
Quantity (Q) |
Marginal costs (MC) |
Average variable costs (AVC) |
Average costs (AC) |
|
0 |
|||
|
1 |
28.00 |
28.00 |
$68 |
|
2 |
20.00 |
24.00 |
$44 |
|
3 |
16.00 |
21.33 |
$35 |
|
4 |
14.00 |
19.50 |
$30 |
|
5 |
12.00 |
18.00 |
$26 |
|
6 |
17.83 |
17.83 |
$25 |
|
7 |
24.00 |
18.43 |
$24 |
|
8 |
30.00 |
19.88 |
$25 |
|
9 |
40.00 |
22.11 |
$27 |
|
10 |
54.00 |
25.30 |
$29 |
Homework Answers
The profit maximizing condition is
P=MC
Hence profit-maximizing quantity is 7 units.
Add Answer to:
Refer to table 4. How much is the total profit at equilibrium
price =$30?
Table 4...
Refer to table 4. At which price firm must shut-down? Table 4 Quantity (Q) Marginal costs...
Refer to table 4. At which price firm must shut-down? Table 4 Quantity (Q) Marginal costs (MC) Average variable costs (AVC) Average costs (AC) 0 1 28.00 28.00 $68 2 20.00 24.00 $44 3 16.00 21.33 $35 4 14.00 19.50 $30 5 12.00 18.00 $26 6 17.83 17.83 $25 7 24.00 18.43 $24 8 30.00 19.88 $25 9 40.00 22.11 $27 10 54.00 25.30 $29
Table 4 illustrates the quantities, marginal costs, average variable costs, and average costs of a competitive...
Table 4 illustrates the quantities, marginal costs, average variable costs, and average costs of a competitive firm. Refer to table 4. How much is the unit profit at price =$30? [the problem is based on concepts in Module 5]. Table 4 Quantity (Q) Marginal costs (MC) Average variable costs (AVC) Average costs (AC) 0 1 28.00 28.00 $68 2 20.00 24.00 $44 3 16.00 21.33 $35 4 14.00 19.50 $30 5 12.00 18.00 $26 6 17.83 17.83 $25 7 24.00 18.43...
Output Price (Suits per Total Total Cleaned) Suit ($) Costs ($) Revenue ($) MC ($) MR...
Output Price (Suits per Total Total Cleaned) Suit ($) Costs ($) Revenue ($) MC ($) MR ($) 8.00 3.00 7.50 6.00 1.50 7.00 8.50 6.50 10.50 19.50 0.00 2 3 4 14.00 6.00 11.50 24.00 □ □ 5.50 13.50 27.50 5.00 16.00 30.00 4.50 19.0031.50 4.00 24.00 8 32.00
Table 7.3 Farmer Jones' profits from oats farming QUANTITY (BUSHELS) TOTAL REVENUE (TR) TOTAL COST (TC)...
Table 7.3 Farmer Jones' profits from oats farming QUANTITY (BUSHELS) TOTAL REVENUE (TR) TOTAL COST (TC) PROFIT (TR- TC) MARGINAL REVENUE (MR) MARGINAL COST (MC) $0.00 $1.00 -$1.00 4.00 4.00 0.00 $4.00 $3.00 8.00 6.00 2.00 4.00 2.00 12.00 7.50 4.50 4.00 1.50 16.00 9.50 6.50 4.00 2.00 20.00 12.00 8.00 4.00 2.50 24.00 15.00 9.00 4.00 3.00 28.00 19.50 8.50 4.00 4.50 32.00 25.50 6.50 4.00 6.00 36.00 32.50 3.50 4.00 7.00 40.00 40.50 -0.50 4.00 8.00 2.8 In...
VOOM has four warehouses 1, 2,3, and 4. VOOM needs to supply 100 Tons to retailer...
VOOM has four warehouses 1, 2,3, and 4. VOOM needs to
supply 100 Tons to retailer P, 300 Tons to retailer Q, and 300 tons
to retailer R. The cost of delivery from each warehouse to
retailers is provided in the following table. While each of the
warehouses has an inventory of 400 tons they can supply, R requires
that every warehouse supplies at least 25 tons to R.
There is a
special arrangement between Warehouse 4 and R...
The monthly average variable costs, average total costs, and marginal costs for Alpacky, a typical alpaca...
The monthly average variable costs, average total costs, and marginal costs for Alpacky, a typical alpaca wool-manufacturing firm in Peru, are shown in the table below. All firms in the industry share the same costs as Alpacky, and the industry is in long-run equilibrium. Instructions: Round your answer to the nearest cent. The market price is Output (units of АТC ($) MC ($) wool) $) AVC 10 20.00 20.00 40.00 15.00 17.50 27.50 2 17.00 24.00 17.33 19.00 22.75 4...
Total Product Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost 1 $100.00 $17.00...
Total Product Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost 1 $100.00 $17.00 $117.00 $17 2 50.00 16.00 66.00 15 3 33.33 15.00 48.33 13 4 25.00 14.25 39.25 12 5 20.00 14.00 34.00 13 6 16.67 14.00 30.67 14 7 14.29 15.71 30.00 26 8 12.50 17.50 30.00 30 9 11.11 19.44 30.55 35 10 10.00 21.60 31.60 41 11 9.09 24.00 33.09 48 12 8.33 26.67 35.00 56 The accompanying table gives cost data for...
- 4 Average Fixed Average Variable Average Total Total Product Cost Cost Cost Marginal Cost 1...
-
4 Average Fixed Average Variable Average Total Total Product Cost Cost Cost Marginal Cost 1 $100.00 $17.00 $117.00 $17 2 50.00 16.00 66.00 151 3 33.33 15.00 48.33 13 25.00 14.25 39.25 121 5 20.00 14.00 34.00 13 6 16.67 14.00 30.67 14 7 14.29 15.71 30.00 26 8 12.50 17.50 30.00 30 9 11.11 19.44 30.55 35 10 10.00 21.60 31.60 41 11 9.09 24.00 33.09 48 121 8.33 26.67 35.00 56 The accompanying table gives cost data...
Data set used for this experiment. 1 Concentration of HCl (M) 0.445 Volume of glass cleaner...
Data set used for this experiment. 1 Concentration of HCl (M) 0.445 Volume of glass cleaner (mL) 25.00 Volume (mL) pH Data point 1 (0.00 mL) 0.00 11.26 Data point 2 2.00 10.73 Data point 3 4.00 10.41 Data point 4 6.00 10.20 Data point 5 8.00 10.07 Data point 6 10.00 9.93 Data point 7 12.00 9.82 Data point 8 14.00 9.71 Data point 9 16.00 9.61 Data point 10 18.00 9.48 Data point 11 20.00 9.38 Data point...
Use the following to answer questions 36-37 Answer the next question(s) on the basis of the...
Use the following to answer questions 36-37 Answer the next question(s) on the basis of the following cost data for a firm which is selling in a purely competitive market Average fixed Average variable Average Total product total Marginal cost $100.00 cost cost cost 1 $17.00 $117.00 66.00 $17 15 13 12 13 14 26 30 35 41 50.00 33.33 25.00 20.00 16.67 16.00 15.00 14.25 14.00 14.00 15.71 48.33 39.25 34.00 5 6 30.67 30.00 7 14.29 12.50 11.11...
Output Price (Suits per Total Total Cleaned) Suit ($) Costs ($) Revenue ($) MC ($) MR ($) 8.00 3.00 7.50 6.00 1.50 7.00 8.50 6.50 10.50 19.50 0.00 2 3 4 14.00 6.00 11.50 24.00 □ □ 5.50 13.50 27.50 5.00 16.00 30.00 4.50 19.0031.50 4.00 24.00 8 32.00
Table 7.3 Farmer Jones' profits from oats farming QUANTITY (BUSHELS) TOTAL REVENUE (TR) TOTAL COST (TC) PROFIT (TR- TC) MARGINAL REVENUE (MR) MARGINAL COST (MC) $0.00 $1.00 -$1.00 4.00 4.00 0.00 $4.00 $3.00 8.00 6.00 2.00 4.00 2.00 12.00 7.50 4.50 4.00 1.50 16.00 9.50 6.50 4.00 2.00 20.00 12.00 8.00 4.00 2.50 24.00 15.00 9.00 4.00 3.00 28.00 19.50 8.50 4.00 4.50 32.00 25.50 6.50 4.00 6.00 36.00 32.50 3.50 4.00 7.00 40.00 40.50 -0.50 4.00 8.00 2.8 In...
VOOM has four warehouses 1, 2,3, and 4. VOOM needs to
supply 100 Tons to retailer P, 300 Tons to retailer Q, and 300 tons
to retailer R. The cost of delivery from each warehouse to
retailers is provided in the following table. While each of the
warehouses has an inventory of 400 tons they can supply, R requires
that every warehouse supplies at least 25 tons to R.
There is a
special arrangement between Warehouse 4 and R...
The monthly average variable costs, average total costs, and marginal costs for Alpacky, a typical alpaca wool-manufacturing firm in Peru, are shown in the table below. All firms in the industry share the same costs as Alpacky, and the industry is in long-run equilibrium. Instructions: Round your answer to the nearest cent. The market price is Output (units of АТC ($) MC ($) wool) $) AVC 10 20.00 20.00 40.00 15.00 17.50 27.50 2 17.00 24.00 17.33 19.00 22.75 4...
-
4 Average Fixed Average Variable Average Total Total Product Cost Cost Cost Marginal Cost 1 $100.00 $17.00 $117.00 $17 2 50.00 16.00 66.00 151 3 33.33 15.00 48.33 13 25.00 14.25 39.25 121 5 20.00 14.00 34.00 13 6 16.67 14.00 30.67 14 7 14.29 15.71 30.00 26 8 12.50 17.50 30.00 30 9 11.11 19.44 30.55 35 10 10.00 21.60 31.60 41 11 9.09 24.00 33.09 48 121 8.33 26.67 35.00 56 The accompanying table gives cost data...
Use the following to answer questions 36-37 Answer the next question(s) on the basis of the following cost data for a firm which is selling in a purely competitive market Average fixed Average variable Average Total product total Marginal cost $100.00 cost cost cost 1 $17.00 $117.00 66.00 $17 15 13 12 13 14 26 30 35 41 50.00 33.33 25.00 20.00 16.67 16.00 15.00 14.25 14.00 14.00 15.71 48.33 39.25 34.00 5 6 30.67 30.00 7 14.29 12.50 11.11...
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