At the profit maximizing output level of 100, the price of the output is 25, the fixed costs are 2500 and the variable costs are 1200. at what level of output should the firm produce at in the short run? (0 or 100)?
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At the profit maximizing output level of 100, the
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- If you were a taxi driver, the daily revenue and cost are as the following: Revenue: $250 Variable cost (gas, your labor…): $190 Mortgage payment for car: $70 License Fee: $30 For profit maximization, will you operate your taxi business today? What is the minimum daily revenue to keep the operation in the short run? What is the minimum daily revenue to keep the operation in the long run? Please show calculation formula and/or equation.Total cost is 1200.output is 20.fixed cost is 1000.what is variable cost?The table below shows the short-run cost data of a perfectly competitive firm that produces plastic camera cases. Assume that output can only be increased in batches of 100 units. $0 (it breaks even) loss of $1,000 Quantity profit of $440 loss of $440 100 200 300 400 500 600 Total Cost (dollars) $1,000 1,360 1,560 1,960 2,760 4,000 5,800 Variable Cost (dollars) $0 360 If the market price of each camera case is $8 and the firm maximizes profit, what is the amount of the firm's profit or loss? 560 960 1,760 3,000 4,800
- Use the following information to answer question 22-23 Number of Workers Hired A 5 6 7 B a) fourth b) sixth seventh d) eighth Question 22 Diminishing marginal returns set in when the process C) seventh d)eigth Number of Meats Sold Question 23 Average product will fall above marginal product when the a) fourth b) sixth 3) zero 60 140 230 total costs total variable costs 300 320 d) total fixed costs Question 24 The maximum loss a fimm should experience in the short nun is equal worker is added to the production worker is hiredQ1 It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake. A cupcake is sold for $4.90 each. (1) Make a table showing the cost of producing 20,40,60,80 and 100 cupcakes. (ii) Make a table showing the revenue from selling 20,40,60,80 and 100 cupcakes. (iii) Write an algebraic expression representing the cost C as a function of the number of cupcakes x that are produced. (iv) Write an algebraic expression representing the revenue R as a function of the number of cupcakes x sold. (v) Graph both functions on the same coordinate axes. (vi) From your graph find coordinatae at which cost equals revenue. (vii) Using your graph, determine how many cupcakes need to be made to produce revenue of at least $1,029. How much profit is made for this number of cupcakes?Could you show the profit and loss on the graph. Furthermore, the figures for cost you posted were incorrect as they are not dropdown options.
- What is the total revenue when output is 1, total cost is 35, marginal cost is 10, fixed cost is 25, average cost is 35.A firm's long run cost is the cost of production when the firm Select one calculates its cost at least one year into the future Luses the economically ethicient quantities for its plant and its labor an vary the amount of output it produces adds together all of its short run costsIf average cost is $30 and the total cost is $900 What output must the firm have produced
- As total output increases average fixed cost v (Click for List) constant at a maximum falling rising at a minimumEliza works in a diner and creates luscious pies. She has the following average total cost schedule (see the picture below): H Quantity of Pies Produced 600 601 Average Total Cost in HongKong Dollars 300 301 The current level of production of Eliza is 600 (six-hundred) pies, which all have been sold. A customer desperately texted you that they wanted to buy one of her pies. They offer 550 HK$. Should Eliza accept the offer? If not, why?(A) Comment on marginal revenue and marginal cost values when it is given that marginal profit is 0. (B) Also comment on total profit value of the firm.
