You are given the following cost data: Total fixed costs are $30. q TVC 0 0...
You are given the following cost data: Total fixed costs are $30. q TVC 0 0 1 30 2 60 3 105 4 165 5 255 6 375 If the price of output is $60, how many units of output will this firm produce (assuming the firm produces in the short run, in a competitive market)? The firm will produce nothing units of output because this is where price equals ▼ average variable cost marginal cost average fixed cost . (Enter your response as a whole number.) Total revenue is $ nothing. (Enter your response as a whole number.) Total cost is $ nothing. (Enter your response as a whole number.) The profit of the firm is $ nothing. (Enter your response as a whole number.) In the short run, the firm will ▼ shut down operate . In the long run, the firm will ▼ operate shut down .
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You are given the following cost data: Total fixed costs are
$30. q TVC 0 0...
You are glven the following cost data: Total fixed costs are $15. TVC 20 40 70...
You are glven the following cost data: Total fixed costs are $15. TVC 20 40 70 110 170 250 If the price of output is S30, how many units of output will this firm produce (assuming the firm produces in the short run, in a competitive market)? The firm will produce units of output because this is where price equals ▼ | . (Enter your response as a whole number.) Enter your answer in the answer box and then click...
You are given the following cost data: Total fixed costs are $110. 40 70 110 170...
You are given the following cost data: Total fixed costs are $110. 40 70 110 170 250 If the price of output is $40, how many units of output will this firm produce (assuming the firm produces in the short run, in a competitive market)? (Enter your response as a whole number) The firm will produce 4 units of output because this is where price equals marginal cost Total revenue is $ (Enter your response as a whole number) Total...
You are given the following cost data: q TFC TVC 0 25 0 1 25 7...
You are given the following cost data: q TFC TVC 0 25 0 1 25 7 2 25 12 3 25 18 4 25 25 5 25 34 6 25 46 7 25 62 8 25 88 a) If the price of output is $15, how many units of output will this firm produce? b) What is the total revenue? What is the total cost? c) Will the firm operate or shut down in the short run? in the long...
You are given the following cost data: q TFC TVC 0 25 0 1 25 7...
You are given the following cost data: q TFC TVC 0 25 0 1 25 7 2 25 12 3 25 18 4 25 25 5 25 34 6 25 46 7 25 62 8 25 88 a) If the price of output is $15, how many units of output will this firm produce? b) What is the total revenue? What is the total cost? c) Will the firm operate or shut down in the short run? in the long...
You are given the following cost data: q TFC TVC 0 25 0 1 25 7 2 25 12 3 25 18 4 25 25 5 25 34 6 25 46...
You are given the following cost data: q TFC TVC 0 25 0 1 25 7 2 25 12 3 25 18 4 25 25 5 25 34 6 25 46 7 25 62 8 25 88 a) If the price of output is $15, how many units of output will this firm produce? b) What is the total revenue? What is the total cost? c) Will the firm operate or shut down in the short run? in the long...
QUESTION 1 Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost...
QUESTION 1 Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 0 $24 $50 3 $108 $40 Refer to Table 13-16. What is the total cost of producing 2 units of output? a. $76 b. $50 c. $58 d. $74 Figure 14-13 Suppose a firm in a competitive industry has the following cost curves: sem MC ATC AVC Refer to Figure 14-13. If the price is $6 in the...
TABLE 8.3 Measuring Costs Quantity (Q-Big Macs Total Cost TVC Average VariableAverage produced pe...
first picture is the table second one is the question
TABLE 8.3 Measuring Costs Quantity (Q-Big Macs Total Cost TVC Average VariableAverage produced perVariable Total Fixed Cost TFC AverageMarginal hour) Abbreviation: Total Cost Cost Fixed Cost Total Cost AVC AFC ATC Formula: $0.00 $100.00 $100.00 30.00 一 130,00 $.00 $10.00 13.00 100.00 5000 100.00 65.00 100.00 77.00100.00 20 30 5.00 3.33 2.17 1.93 1.74 165.00 177.00 187.00174 200.001.67 220.001.71 260.00 320.00 2.44 400.00 3.00 1.00 1.30 2.00 87.00 100.00 100.00...
Price Quantity Total Revenue Marginal Revenue Total Cost Marginal Cost RU 91 96 Suppose the local...
Price Quantity Total Revenue Marginal Revenue Total Cost Marginal Cost RU 91 96 Suppose the local government imposes a $26 per month tax on cable companies. What will Comcast do? (Assume fixed costs equal $15.) A Comcast should produce 6 units in the short run and shut down in the long run O B. Comcast should shut down in the short run and in the long run. OC Comcast should shut down in the short run and produce 6 units...
11.7. A monopolist operates with the following data on cost and demand. It has a total...
11.7. A monopolist operates with the following data on cost and demand. It has a total fixed cost of $1,400 and a total variable cost of Q”, where Q is the number of units of output it produces. The firm's demand curve is P= $120 - 20. The size of its sunk cost is $600. The firm expects the conditions of demand and cost to continue in the foreseeable future. a) What is the firm's profit if it operates and...
Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q)...
Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q) = 3 + 2q. Assume that the market price (P) of the firm's product is $15. What level of output (q) will the firm produce? The firm will produce units of output. (Enter your response rounded to two decimal places.) What is the firm's producer surplus? Producer surplus (PS) is $ . (Enter your response rounded to two decimal places.) Suppose that the average...
You are glven the following cost data: Total fixed costs are $15. TVC 20 40 70 110 170 250 If the price of output is S30, how many units of output will this firm produce (assuming the firm produces in the short run, in a competitive market)? The firm will produce units of output because this is where price equals ▼ | . (Enter your response as a whole number.) Enter your answer in the answer box and then click...
You are given the following cost data: Total fixed costs are $110. 40 70 110 170 250 If the price of output is $40, how many units of output will this firm produce (assuming the firm produces in the short run, in a competitive market)? (Enter your response as a whole number) The firm will produce 4 units of output because this is where price equals marginal cost Total revenue is $ (Enter your response as a whole number) Total...
QUESTION 1 Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 0 $24 $50 3 $108 $40 Refer to Table 13-16. What is the total cost of producing 2 units of output? a. $76 b. $50 c. $58 d. $74 Figure 14-13 Suppose a firm in a competitive industry has the following cost curves: sem MC ATC AVC Refer to Figure 14-13. If the price is $6 in the...
first picture is the table second one is the question
TABLE 8.3 Measuring Costs Quantity (Q-Big Macs Total Cost TVC Average VariableAverage produced perVariable Total Fixed Cost TFC AverageMarginal hour) Abbreviation: Total Cost Cost Fixed Cost Total Cost AVC AFC ATC Formula: $0.00 $100.00 $100.00 30.00 一 130,00 $.00 $10.00 13.00 100.00 5000 100.00 65.00 100.00 77.00100.00 20 30 5.00 3.33 2.17 1.93 1.74 165.00 177.00 187.00174 200.001.67 220.001.71 260.00 320.00 2.44 400.00 3.00 1.00 1.30 2.00 87.00 100.00 100.00...
Price Quantity Total Revenue Marginal Revenue Total Cost Marginal Cost RU 91 96 Suppose the local government imposes a $26 per month tax on cable companies. What will Comcast do? (Assume fixed costs equal $15.) A Comcast should produce 6 units in the short run and shut down in the long run O B. Comcast should shut down in the short run and in the long run. OC Comcast should shut down in the short run and produce 6 units...
11.7. A monopolist operates with the following data on cost and demand. It has a total fixed cost of $1,400 and a total variable cost of Q”, where Q is the number of units of output it produces. The firm's demand curve is P= $120 - 20. The size of its sunk cost is $600. The firm expects the conditions of demand and cost to continue in the foreseeable future. a) What is the firm's profit if it operates and...
Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q) = 3 + 2q. Assume that the market price (P) of the firm's product is $15. What level of output (q) will the firm produce? The firm will produce units of output. (Enter your response rounded to two decimal places.) What is the firm's producer surplus? Producer surplus (PS) is $ . (Enter your response rounded to two decimal places.) Suppose that the average...
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