Total variable cost = 60 units x $6 (approx) = $360
approx.
Refer to the figure below. If the firm is producing the level of output that maximizes profit, its total variable c...
6 of 17 Refer to the figure below. If the firm is producing the level of output that maximizes profit, its total variable cost of production is (Hint: after finding the profit-maximizing point, you are looking for an area created by the average variable cost curve) Price ($) 18 16 MC1 14 12 10 ATC: 8 6 AVC1 4 का a 2 MR Di 10 20 30 40 50 60 70 80 90 Quantity $240 $360 $420 S160
1. What is the total revenue of this firm if it is producing the level of output that maximizes profit/minimize loss? A) $560 B) $420 C) $160 D) $480 2. According to the figure below, what is the total profit of this monopoly? A) $240 B) $-120 C) $60 D) $80 Price ($) MC1 AVC1 10 20 30 40 50 60 70 80 90 Quantity Price (s) MC1 TATC1 AVC1 10 20 30 40 50 60 70 80 90 Quantity
Scenario 15-3 A monopoly firm maximizes its profit by producing Q = 500 units of output. At that level of output, its marginal revenue is $30 its average revenue is $60, and its average total cost is $34 Refer to Scenario 15-3. At Q = 500, the firm's total revenue is a. 13,000 b. $15,000 c. $17,000 d. $30,000.
Question 14 Refer to the figure below. The total cost of production is: 18 MC1 16 14 12 10 АТСТ 8 6 AVC1 4 2 MR 10 20 30 40 50 60 70 80 90 O $510 O $330 O $160 $400
The table below shows data for the production of avocados for an individual firm operating in a perfectly competitive market. Quantity of avocados Total Revenue Total Costs 0 0 10 10 60 30 20 120 40 30 180 60 40 240 90 50 300 130 60 360 180 70 420 240 80 480 310 2. Given this data, complete the table: Quantity of avocados Marginal Revenue (MR) Marginal Costs (MC) Profit 0 10 20 30 40 50 60 70 80
Table 13-3 Number of Workers Output Fixed Cost Variable Cost Total Cost 0 0 $50 $0 $50 1 90 $50 $20 $70 2 170 $50 $40 $90 3 230 $50 $60 $110 4 240 $50 $80 $130 Refer to Table 13-3. If the firm can sell its output for $1 per unit, what is the profit-maximizing level of output? a. 170 units b. 190 units c. 240 units d. 230 units
The graph is below.6.Refer to Figure 15-6. What area measures the monopolist’s profit?(K-C)*W(L-A)*T(K-B)*W0.5[(K-C)*(Z-T)]20.Scenario 15-3A monopoly firm maximizes its profit by producing Q = 500 units of output. At that level of output, its marginal revenue is $30, its average revenue is $60, and its average total cost is $34.Refer to Scenario 15-3. At Q = 500, the firm's profit is-$13,000.-$15,000.-$17,000.-$30,000.21.21. Refer to Figure 15-9. To maximize total surplus, a benevolent social planner would choose which of the following outcomes?-100 units...
The graph below represents the costs of production for a monopolistically competitive firm. Assuming the firm is producing at the profit-maximizing level of output, (Q*,P*) , where Q = 40 and P * =$16 . Assume average cost is $14.50 Question 9 The graph below represents the costs of production for a monopolisticall competitive firm. Assuming the firm is producing at the profit-maximizing level of output, (Q.,P), where Qu=40 and P =$16. Assume average cost is $14.50. profit-$__(Please only answer...
Consider the figure at right, where a perfectly competitive firm faces a price of $40 The profit-maximizing output is MC ATO AVC O A. 67. ??. 60. ? ?. 79. O D. 54 ? E. 30 D-MR 31 4 :34 67 79 0 10 20 30 40 50 60 70 80 90 Quantity
Refer to the figure below. What is total consumer surplus at the market equilibrium? Select one: a. $6 per day b. $80 per day c. $160 per day d. $240 per day Supply Price ($/pound) Demand 0 10 20 30 40 50 60 70 80 Quantity (pounds of cheese/day)