Please show all work!! When the per-unit price of a watermelon is $40, a competitive farm produces 7 units. At these lev...
Please show all work!!
When the per-unit price of a watermelon is $40, a competitive farm produces 7 units. At these levels, assume the average total cost = $60, the average fixed cost = $15, and the average variable cost = $45. What is the total profit for this farmer? (a) 140 (b) -140 (c) -560 (d) -325 (e) 400
Homework Answers
Profit = Total revenue - total cost.
Total revenue = price x quantity = $40 x 7 = $280. Total cost = ATC x quantity = $60 x 7 = $420. The profit of the firm will be 280 - 420 = -140. The answer is "B".
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Please show all work!! When the per-unit price of a watermelon is $40, a competitive farm produces 7 units. At these lev...
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please show work
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Hw help please Exhibit 0127: The perfectly competitive firm A Exhibit 0127 Dollars per unit $40...
Hw
help please
Exhibit 0127: The perfectly competitive firm A Exhibit 0127 Dollars per unit $40 -- MC 36 32 28 4 ATC 20 AVC 16 12 8 ㄧㄏㄧㄒㄧ-ㄱ 100 150 200 250 Answer the following questions based on exhibit 0127. (2 points each) (Show your work and/or exolin your answer) a. What is firm A's proft maximizing level of output? b. What price will firm A have to charge? $ c. At what level of output is firm A's...
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please show work
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5. The average total cost of production at 400 units is $240. a. What is the total cost of production at 400 units? b. If the average revenue at 400 units is $265, what is your profit? 6. You have fixed costs of $200. You face a price of $40 per unit. If you sell 60 units and break-even, what is your average variable cost at 60 units?
Hw
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Exhibit 0127: The perfectly competitive firm A Exhibit 0127 Dollars per unit $40 -- MC 36 32 28 4 ATC 20 AVC 16 12 8 ㄧㄏㄧㄒㄧ-ㄱ 100 150 200 250 Answer the following questions based on exhibit 0127. (2 points each) (Show your work and/or exolin your answer) a. What is firm A's proft maximizing level of output? b. What price will firm A have to charge? $ c. At what level of output is firm A's...
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