Solve all questions compulsory.. Assume that a firm in a perfectly competitive industry has the following total cost schedule:Calculate a marginal cost and an average cost schedule for the firm to complete the following table.Output Total CostMarginal Cost($)Average Cost($)(units)($)10220153002036025450306003577040960If the prevailing market price is $34 per unit,units will be produced. Profits per unit will beand total profits will beIs the industry in long-run equilibrium at this price?YesΟ NO

Marginal cost is the change in total cost when an additional unit of output is produced.The average…

Assume that a firm in a perfectly competitive industry has the following total cost schedule: Calculate a marginal cost and an average cost schedule for the firm to complete the following table. Output (units) Total Cost ($) Marginal Cost ($) Average Cost ($) 10 220 15 300 20 360 25 450 30 600 35 770 40 960 If the prevailing market price is $34 per unit, units will be produced. Profits per unit will be and total profits will be Is the industry in long-run equilibrium at this price? Yes Ο NO

Assume that a firm in a perfectly competitive industry has the following total cost schedule: Calculate a marginal cost and an average cost schedule for the firm to complete the following table. Output (units) Total Cost ($) Marginal Cost ($) Average Cost ($) 10 220 15 300 20 360 25 450 30 600 35 770 40 960 If the prevailing market price is $34 per unit, units will be produced. Profits per unit will be and total profits will be Is the industry in long-run equilibrium at this price? Yes Ο NO

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

(3 points) When sold for $259,000.00, Ferraris have an annual supply of 6758 vehicles and an annual demand of 6691 vehicles. When their price increases to $279,000.00, the annual supply increases to 6913, and the demand decreases to 6010 billion gallons. (a) Assuming that the supply and demand equations are linear, Afind the supply and demand equations. Supply Equation p = Demand Equationp (Note: The equations should be in the form p = mg + b where p denotes the price (in dollars) and q denotes the quantity. The slope and y-intercept should be accurate to two decimal places). (b) Find the Equilibrium price and quantity. Equilibrium price p = Equilibrium quantity q = (Note: The equilibrium price and quantity should be accurate to two decimal places, and the equilibrium price should include a dollar sign).
An electronics company makes communications devices for military contracts. The company just completed a large contract. The Army contract was for 6808 devices that were produced by 43 workers in three weeks. Each worker worked 40 hours per week. What was the prductivity for the ARMY contact in devices per labour hour? (State your answer rounded to two decimal places)
Plz solve all parts Asap, i vll give positive feedback and upvote as well.
No chatgpt used i will give 5 upvotes typing please
Define the term Break-Even Sales Volume?
Given the following values: P(A) = 0.25 P(A and B) = 0.14 P(B) = 0.32 Find the P(B | A) (Leave answer in decimal form with 2 decimals)
4.
A tax on buyers will lead to an increase in supply :choose one true O Error O
Profit Analysis Unendo, is a large computer game manufacturer. They have estimated that the demand function for their game "Star Wars Battlefront III" is as follows... STAR WARE BATTLEFRONT p = 86 - 0.05q where p is the price of a game and q is the number of game produced and sold per week. They estimate that their cost function in dollars is ... Clq) = 179 + 5000; where the fixed cost is $5000 and the marginal cost is $17 per game Unendo wishes to maximize the weekly profit of producing and selling the game. Find the maximum profit they can earn. (Round your answer to 2 decimal places, if necessary)
Please answer this before 7:45! Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Price Per KM(S) 0.9 0.8 0.7 0.6 0.5- 0.4 0.3 0.2 0.1 T U V W KM DRIVEN (000s KM) PLEASE COMPLETE TABLE BELOW ONLY USING ABOVE INFORMATION T = 29,000 KM U = 36,000 KM 80 V = 44,000 KM W=47,000 KM What is the TFC at V? 19000 What is the AFC at V (2 Decimals)? 0.43 If AVC is 0.35 at V, what is the TVC? 15400 What is the BREAKEVEN Quantity (PUT LETTER)? What is the SHUTDOWN Quantity (PUT LETTER)? ATC at T is: $0.75/KM TC at U is: $25920 Find the Marginal Cost between T and U (Answer to 2 Decimals and always positive)?$ 6.92 If Price of an UBER RIDE is $0.7/KM: What is the number of KMS Driven by Jim? KM What is the total Revenue at this point? $ ☐ What is the total Cost at this point if AVC is $0.35 per KM? $ What is the Profit/Loss at this point? $