The diagram below suggests that the farmer will break-even if output is units. PhP MC ATC 24 P = MR 8 20 18 4 1. 100 350 500 700 q Bales of hay 100 350 500 700 Price
Q: Suppose a firm has the following cost: Output (units): 10 11 12 13 14 15 16 17 18 19 Total cost:…
A: a.The total cost of the firm is given and the marginal cost can be calculated by subtracting the TC2…
Q: The cost of producing 5-gallon water bottles is given by C(q) = 0.005q2 + 2q + 1000. If 2000…
A: Marginal cost can be calculated as follows.
Q: of processing checks. 7 ! The U.S. government is auctioning off oil leases at two sites: 1 and 2. At…
A: * SOLUTION :-
Q: When MR 0 TR is rising as Q increases MR is rising TR is at a maximum |e| = 1
A: Total revenue is the total amount earned by a seller by selling the goods and services to the…
Q: Explain why clear understanding of the environment within which it operates is important for…
A: Business: The organization or an individual engaged in commercial activities with the aim of earning…
Q: 1. April quit her job as an accountant at Ernst and Young, where she was paid $45,000 per year. She…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: Suppose that the bakery is obligated to produce 10 loaves of bread, but it can only choose one site.…
A: MC at first site, MC1 = 10 MC at second site, MC2 = B MC at third site, MC3 = 2B To maximize profits…
Q: What happens to the value of resources when losses are present? If a firm making losses goes out of…
A: The value of resources decreases when the firms make losses as it would mean that the revenue earned…
Q: Refer to Figure 8.9. This farmer's profit-maximizing level of output is ________ units of output. A)…
A: The profit maximizing condition of the competitive firm is: Marginal cost (MC) = Price (P).
Q: Bill can produce either tables or chairs. Bill can work up to 10 hours a day. His roduction…
A: Production possibility curve shows the different combinations of goods which can be produced given…
Q: A firm currently faces a market price of $7. If producing output where MC= $7, it would produce 11…
A: Actually in simple words we can say that the market price in the economy is generally known as the…
Q: ind curve: Quantity Price $20 $18 $16 $14 $12 $10 $8 $6 $4 $2 $0 2 4 15 7 10 How much output…
A: here we calculate the level of profit by using the given data so the calculation of the following by…
Q: Refer to Table 13-1. What is the marginal cost of producing the first widget? a. $0 b. $1.00 c.…
A: The above table is filled by using the given formulas: Total cost(TC)=FC+VCVariable…
Q: Q3) Answer any two of the following: "Due to the Corona pandemic, the energy industry has been…
A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…
Q: Y = 0.75X + 0.0042X2 – 0.000023X3 If input price is 0.15$ and output price is 4$ then at what level…
A: The given equation is the production function of output Y. X denotes the amount of input. The profit…
Q: Thank you so much for your help. If you can help me I will give a thumbs up! :) [LOOK AT ECO IMAGE…
A: b.) At a product price of $41.00 (ii) If it is preferable to produce, what will be the…
Q: You are the manager of a firm that sells a “commodity” in a market that resembles perfect…
A: There is a 70 percent chance the market price will be $200 and 30 percent chance it will be $600.…
Q: In a fishery the long-run harvest function (harvest volume) is H(E) = aE – bE², with a, b…
A: Harvest function : H(E) = aE - bE2 Total Cost function : TC (E) = cE Total Revenue : TR (E) = pH(E)…
Q: Some producers do not stop their production when they face loss in their production. Why?
A: Shut-down decision signifies a short-run decision taken where a firm decides whether to operate or…
Q: 49. The long run is a A. O Period of three years or longer B. O Period long enough to allow firms to…
A: Long run refers to the period of time where there is no fixed cost and all the factors that are…
Q: VC FC 1 60 100 80 100 90 100 4. 110 100 150 100 The marginal cost of producing 3 units of output is…
A: Marginal cost is the additional cost incurred in order to produce an additional unit of output.
Q: If a firm spends $200 to produce 20 units of output and spends $400 to produce 40 units of output,…
A: Marginal cost is the additional cost incurred to produce an additional unit of output
Q: You are the manager of a firm that sells a “commodity” in a market that resembles perfect…
A: As you are dealing with a perfectly competition market situation first let us see what are the…
Q: Given the data provided in the table below, what is the marginal cost of producing the 4th unit of…
A: Q P TC TR MR MC Profit Q*P TRn-TRn-1 TCn-TCn-1 TR-TC 0 $5 $9 0 - - - 1 $5 $10 5 5 1 -5…
Q: Two tomato processing plants are located along a line 100 miles long. Plant 1 is at mile 30 and…
A: Given information 2 tomato processing plants located along a line 100 mile. Plant 1 is at mile 30…
Q: You have a plant that produces copiers for sale. Your costs for producing copiers are 1: $42, 2:…
A: The table attached below show total costs (as given in question) and marginal cost which is computed…
Q: Jarrod Chiaramonte QL 1 2 4 5 7 8 18 42 78 123 163 188 203 211 1-2= 24. 2-3= 36. 3-4= 46. 4-5= 40.…
A: The profit maximizing firm would employ the labor where the marginal product of labor is equal to or…
Q: (dollars) 0 MC MR 40 45 50 Quantity is currently producing 40 units of output. What would you advise…
A: Firm maximizes its profit where the MR is equal to the MC. Condition : MR = MC.
Q: Q3) Answer any two of the following : "Due to the Corona pandemic, the energy industry has been…
A: Revenues Answer: The revenue of a firm comes after selling its product in the market, it includes…
Q: n which of the following situations would the supplier have the greatest power to hurt a business…
A: There are various determinants that can make supplier hurt its customers. It depends on the market…
Q: 20. What is the Marginal Cost at Q=6? a) 7.50 b) 12 c) 20 d) 25 e) 45 f) 100 Og) 120 h) 160
A: The marginal cost is the cost of manufacturing an extra unit, and it relates to the change in…
Q: Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost of…
A:
Q: In early 2008, you purchased and remodeled a 120-room hotel to handle the increased number of…
A: Break-even examination/analysis involves ascertaining and looking at the margin of wellbeing for a…
Q: When I'MaGoldMiner chooses what quantity of gold each of its mines will produce over the next 12…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Explain manufacturing firms should use demand leading instead of demand trailing capacity strategy.
A: A lead limit technique (lead request procedure) is a proactive methodology that adds or takes away…
Q: Mikey W. Smitty, an emerging musician, is getting ready to cut his first CD. The cost of recording…
A: Given information Cost of recording CD=$3000 Cost for per copy=$2 Selling price=$17
Q: Crawford Computing finds that its weekly profit, in dollars, from its production and sale of x…
A: Hi, thank you for the question. As per the Honor code, we are allowed to attempt only 3 subparts in…
Q: According to data from Yelp, more than 55 percent of the 132,500 businesses listed on the site that…
A: A decline in the aggregate output of an economy is referred to as an economic contraction. An…
Q: Which of the following represents a long-run decision for the firm? a. rehiring workers who were…
A: Long-run is the time period in which all the factors of production and all cost are variable.…
Q: Mario owns a wood-fired pizza shop which imitates traditional Italian methods. She uses a unique…
A: A firm maximizes profit by producing at level of output where MR = MC. Total Profit = Total Revenue…
Q: P = c + 1/(nxb). When the number of firms (n) in an industry is more then a. each firm's price level…
A: Price level of goods is determined by many factors and one of them is numbers of firms following is…
Q: Sport O Rama Equipment Inc., makes two different types of baseball gloves: a regular model and a…
A: 1. As indicated by the above output, the long stretches of creation time for cutting and sewing…
Q: Q2. Total cost is -ay² +By+100, and the price of the output is $10. Find the best output level, yº.
A: We have total cost function TC=-αy2+βy+100 ... (1) Market price P =$10 We have to find…
Q: Despondent over the Red Sox's terrible season, Prof. Gruber decides to quit his day job and start a…
A: We are going to calculate Marginal cost and Average cost curve to answer this question. Note: The…
Q: In a fishery the long-run harvest function (harvest volume) is H(E) = aE - bE2, with a, b…
A: Maximum Economic Yield (MEY) is defined as the maximum yield which is in correlation with the level…
Step by step
Solved in 3 steps
- A company produces and sells a consumer product and is ableto control the demand by varying the selling price. The approximate relationship between price and demand is p = 38+ (2,700/D) - (5000/D²) for D>1 The company is seeking to maximize its profit. The fixed cost is $1,000 and the variable cost is $ 40 per unit. What is the number of units that should be produced and sold each month to maximize profit? A 71 B 60 с 50 D 25vate X Student Portal | Main CENGAGE MINDTAP gage.com/static/nb/ui/evo/index.html?deploymentid=57962518850017814342930411958eISBN=9781337106603&id=1810088554&snapshotid=3502477& Problems: Chapters 21 and 22 The cost the upstream mill incurs for producing enough paper (one "unit" of paper) to make one unit of boxes is $12.50. X Assume the two mills operate as separate profit centers, and the paper mill sets the price of paper. It follows that the marginal profitability of boxes represents the highest price that the box division would be willing to pay the paper division for boxes.. Furthermore, assume that fixed costs are $0 for the paper mill. Price (Marginal Profitability to the Box Mill) ($) The following table summarizes the quantity, total revenue, and marginal costs from the perspective of the paper mill for selling paper to the box mill at various prices. $40 $36 $32 $28 $24 $20 $16 $12 $8 $4 ECN-601 Class Resources In the following table, fill in the marginal revenue, total…In the table below what is the average cost of the 20th unit of output? a IPCSB.25 Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. b U 6 7 8 d 12 Output Total Cost Marginal Cost 0 100 10 120 20 160 30 230 ធ 2 4
- Economics A plant has a marginal abatement cost given by MAC = 14 - 3E. Regulators impose an emissions standard limiting the plant to emitting only 2 units of emissions. How much will it cost the plant to comply with that standard?Bavarian Crystal Works designs and produces lead crystal wine decanters for export to international markets. The production manager of Bavarian Crystal Works estimates total and marginal production costs to be aq0 to noiinseu14 Isind TC = 10,000 + 40Q + 0.0025Q² and ivibe to l9v9i ani oi -MC = 40 + 0.005Q1oriism s Arol else noitee eaidT aigie s niged sW noilesimixam benistie iton to laval orfs.ot doagee sideixav, where costs are measured in U.S. dollars and Q is the number of wine decanters pro- duced annually. Because Bavarian Crystal Works is only one of many crystal produc- ers in the world market, it can sell as many of the decanters as it wishes for $70 apiece. Total and marginal revenue are tanad tan ait oT vtivins to briTR = 700 owd io anoilanut ed teoo where revenues are measured in U.S. dollars and Q is annual decanter production. a. What is the optimal level of production of wine decanters? What is the marginal revenue from the last wine decanter sold? and MR = 70 %3D b. What…An increase in the cost of heating and cooling a building may not reduce NOI if these costs can be passed along to the companies that lease the space. true of false
- A competitive industry has production processes that generate pollution. ok with studies carried out on the affected population, the marginal costs associated with contamination are constant and CU500. for each unit of the good produced. these costs are associated with lost workdays, illness treatment costs, and the nuisance generated in the population. Currently the production level of the industry is 250 units and the market price is 1,500 (MU/unit). Market studies carried out by companies estimate that if the price rises At 1,800 (mu/unit) the quantity demanded would fall to 200 units and the marginal cost of the production of each company in this new production level is 1,300 (m.u./unit). Assume linearity in market demand and in the marginal costs of production of the companies Graph to justify your answers. A)Determine the optimal production level from the perspective of the whole of the society. Show your result graphically.Please no written by hand solutions Which of the followingfollofollowingfThe Al-Habsi family owns a big farm in Rustaq. Three choices exist for how to use the farm: i Grow garlic, where garlic yield wouid be 70.bags per acre. The price of garlic is RO 3.5 per bag and production costs are RO140.per acre (Pxa) - pnduhun =( 1.5 X70)-140= 105 RO- rwenue ii. Grow cucumber, where cucumber yield would be S0 bags per acre. The price of cucumber is RO 2,5.per bag and production costs are RO150 per (2.5xs0) - 150, -25RO loves acre iii. Lease/rent out the acres to Mr. Al-Kindi (a neighbor) who will pay RO 80 per acre. With the lease/rent option the Al-Habsi family would still have expenses of RO 35.per acre. Based on the information above, answer the following questions: 80-15- 45Ror tue O Which alternative should the Habsi family undertake? Why? Q. Given your answer above, what is the Habsi's opportunity cost per acre? (Ed What is the total economic cost pèr acre for your answer?
- when studying the in formation related to Al- Kufa factory itis explained that selling price for one ton is 200 ID and 1- Variable cost for one ton reaching 150 ID 2- Fixed costincluding the project construction costs was 48 million ID 3- Suppose that the designed factory productivity reaches 46000 ton per year for one work shift Find the production volume and the time thatitmust be reach to Break- Even pointKontrol paneli > Derslerim > 2020-2021 Güz Dönemi > İŞLETME FAKÜLTESİ > İŞLETME > 2021G-ITB101-1252178 > ITB 101 - Final Exam > ITB 10 曲 Kontrol paneli Site ana sayfası Takvim Nişanlar Tüm dersler Course dashboard Soru 17 The Farley Farm, a dairy company, has total costs of $15,000 and total variable costs of $2,000. The Farley Farm's total fixed costs are Henüz cevaplanmadı 4 üzerinden Lütfen birini seçin: işaretlenmiş O A. indeterminate because the firm's output level is not known. P Soruyu işaretle O B. SO O C$ 15000 O D.$ 13000 O E$ 17000 ÖNCEKİ SAYFA SONRAKİ SAYFA O Aramak için buraya yazınwhich firm/s can close already to avoid futher loss?