Below is a chart with different distances and their total cost for this vehicle please find the marginal costs for as distance increases. Distance(KM) Total Costs($) Marginal Costs($) PER KM 0 $ 25000 $57066 50000 $62946 $ $ 75000 $70147 100000 $77713 $ 125000 $85762 $ 150000 $95861 $

Below is a chart with different distances and their total cost for this vehicle please find the marginal costs for as distance increases. Distance(KM) Total Costs($) Marginal Costs($) PER KM 0 $ 25000 $57066 50000 $62946 $ $ 75000 $70147 100000 $77713 $ 125000 $85762 $ 150000 $95861 $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: 4, 5, 6, 8, and 10 units of output. Calculate the total revenue for each of these production levels.…

A: [See judging by the part of the question posted, its quite easy to guess that this question has to…

Q: PLS HELP ASAP

A: Question 1.D. Weak form efficient market hypothesis.The weak form efficient market hypothesis…

Q: George Jack Lawns Mowed 10 6 5 4 Gardens Cultivated The table above shows the output per day of two…

A: Issue is to figure out what Jack's opportunity cost of choosing to grow a garden. As the term…

Q: n individual is given $10 to be spent on either oranges or apples. Price of an apple is $ 1 and…

A: Utility maximization is an economic concept that refers to the process by which individuals or…

Q: (i) List the strategies of each player. (ii) Find the subgame perfect Nash equilibrium. (iii)…

A: A Nash equilibrium defines a state in a non-cooperative game where each player lacks motivation to…

Q: $ per Unit of Output q Quantity AC AVC MR $ per Unit of Output Quantity D In the long run, we should…

A: The question is asking about the long-term expectations in a competitive market. In a competitive…

Q: economic outcome

A: The Short-Run Aggregate Supply (SRAS) curve represents the relationship between the rate stage in a…

Q: Average Cost Jesaki Water Sports incurs the following costs in producing a water ski vests in one…

A: The fixed cost is given as $320The unit production cost is $25 per vest.The maintenance cost for the…

Q: Consider the utility function of U(X,Y) = X^0.2Y^0.4 Show that Slutsky equation holds Show that…

A: A utility function represents a mathematical expression that quantifies the satisfaction or…

Q: PLS HELP ASAP

A: For the first question: A. Some mutual funds can have dozens of securities, which makes it…

Q: Suppose the demand for a product is given by QD=100-5P, where QD is quantity per year measured in…

A: The objective of this question is to calculate the elasticity of demand and supply at the…

Q: Below is the payments matrix for collective bargaining between the union and the employer. Find the…

A: Collective bargaining is a method of negotiation among employers and a collection of employees aimed…

Q: (a) Draw John's budget line for January if he moves to Jame's apartment and on the same graph, draw…

A: A budget line is a graphical representation that shows all the combinations of products that a…

Q: pure NE.

A: A Nash equilibrium is a concept used to investigate the behavior of participants in a strategic…

Q: 1. Suppose a firm operates as a monopoly in the domestic (home) market for a product. The demand for…

A: A monopoly refers to a market structure where a single firm or entity is the sole producer or seller…

Q: A consumer with the following utility function U = xy2 faces two constraints. The first is the…

A: Consumer theory is important in economics because it investigates how consumers might maximize…

Q: Table for Exercise 24: Year 2022 2023 Quantity of Labor 1,320 1,500 Productivity of Labor $ 155 $…

A: In economics, output refers to the quantity of goods or services produced by a firm, industry, or…

Q: The demand for money arises out of the need to hold money as a medium of exchange. This demand for…

A: The demand for money refers to the desire of individuals and businesses to hold cash or money…

Q: Suppose that the central bank in the UK (The Bank of England) decides to raise interest rates…

A: A discipline of economics called international economics studies the economic exchanges and…

Q: Let's say that the Fed is concerned about recession. It would use [Select] policy to address this,…

A: The Fed is the short name for the Federal Reserve System, which is also the central bank of the US.…

Q: What marketing term would apply to describe a small company in Philadelphia analyzing consumer’s…

A: If a small company in Philadelphia were to analyze consumers' responsiveness to price changes, the…

Q: 3. For the available population data, calculate using the Declining growth method the population for…

A: The objective of the question is to predict the population for the year 2030 using the declining…

Q: 2. Suppose that two products, i= 1, 2, are located at the extreme ends of the [0,1] interval. Let li…

A: Stackelberg equilibrium is a concept in game theory that describes a situation in which firms in an…

Q: 1. The graph below shows the unregulated market for a pesticide. When factories produce pesticide,…

A: External costs or negative externalities are the harmful side effects arise out of production or…

Q: Using the midpoint method, the price elasticity of demand for jackfruit between point A and point B…

A: Using the midpoint method, price elasticity is calculated by taking the average percent change in…

Q: A function of government is to regulate "natural monopolies." Explain what is a natural monopoly and…

A: Markets help in allocating scarce resources efficiently. Prices(P) reflect the scarcity of products…

Q: PLS HELP ASAP

A: Investor DExplanation:Investor D, who has a long-term investment purpose and a certain level of…

Q: Briefly discuss the cause and the solution(s) to the international bank crisis involving…

A: The international bank crisis involving less-developed countries, commonly known as the "debt…

Q: Consider two Cournot oligopolists, firm 1 and firm 2, in a homogenous product market. The market…

A: The objective of the question is to find the Cournot equilibrium quantity for each firm in a duopoly…

Q: Using 250 observations for the money supply m, we estimate the following regressions: Am -0.073m…

A: The objective of the question is to determine the order of integration of the money supply at the 1%…

Q: Steve owns a bike store. His total costs are $1.2M per year, his variable costs are $750,000, and…

A: TFC refers to costs(C) that do not change with the output(Q) level. TVC refers to costs(C) that…

Q: Actual output is $2,000, potential output is $2,500, and the marginal propensity to consume (MPC) is…

A: The Marginal Propensity to Consume (MPC) is the proportion of an additional unit of income that a…

Q: The production possibilities frontier is the Select one: A. maximum output that can be produced at…

A: The Production Possibilities Frontier (PPF) is a fundamental concept in economics that illustrates…

Q: Suppose now that Clomper's is able to perfectly price discriminate-that is, it knows each consumer's…

A: The profit-maximizing quantity is fixed by a monopoly firm without price discrimination at the…

Q: Attempts is not 2. Study Questio is A Misa credit card Average/2 Problems #2 money because it A…

A: 1. Visa credit is not money because does not serves as a store of value 2. Federal reserve note is…

Q: 5. Casper consumes cocoa and cheese. Cocoa is sold in an unusual way. There is only one supplier,…

A: Budget sets represent possible consumption points of two goods that the consumer can consume given…

Q: What would be the effective rate of protection on bicycles in China if China places a 45 percent…

A: The world price of bicycle = $210.The world price of bike components = $110.The tariff on bicycles…

Q: In making cae for racing the minimum wage, I am not saying that_

A: It is the gap in income compensation between races drivers and sport value. In spite of the danger,…

Q: Year CPI 1996 157 1997 161 1998 163 What is the inflation rate between 1996 and 1997? A What is the…

A: The inflation rate is a measure of the average increase in the prices of a given time - typically,…

Q: aggregate surplus.

A: Aggregate surplus refers to the entire welfare or benefit derived from the change of goods or…

Q: Consider a game where there is a $2,520 prize if a player correctly guesses the outcome of a fair…

A: The objective of this question is to find out the maximum amount that Cindy would be willing to pay…

Q: G and Samsung are both releasing a new smartphone at the ame time. Each company is fairly well…

A: A strategy is said to be dominant strategy if a player is always going to opt for that strategy,…

Q: PRICE (Dollars per unit) 350 Z 225 175 Y W 50 Demand 0 10 35 45 70 QUANTITY (Units) For each of the…

A: True or False: The slope of the demand curve is not equal to the value of the price elasticity of…

Q: 3. For the available population data, calculate using the Declining growth method the population for…

A: The objective of the question is to predict the population for the year 2030 using the declining…

Q: am. 112.

A: The objective of the question is to determine the time it will take for McMillan Company to recover…

Q: Suppose a firm engaged in the illegal copying of DVD’s has a daily short run total cost function…

A: The objective of the question is to determine the quantity of DVDs the firm will copy each day, the…

Q: The following graph plots the supply and demand curves in the market for polaroid cameras. Use the…

A: The equilibrium is where the demand curve intersects the supply curve. Consumer surplus is the area…

Q: Assume demand is given as P $2500-$25Q. The firm has a fixed cost of $3000 and variable costs of…

A: Demand function: P=2500−25Q.Fixed cost of production: FC=$3000Variable cost of production:…

Q: Question 1 Year 1 Year 2 Year 3 Year 4 Year 5 Accounts receivable 21 22 24 Inventory 5 7 22 10 22 24…

A: Explanations on the table's contents and what the missing figures might represent:Accounts…

Q: Indicate how each policy in the following table would change either the aggregate demand curve or…

A: There is a difficulty that is to know which kind of economic policies influenced the aggregate…

Question

Below is a chart with different distances and their total cost for this vehicle please find the marginal costs for as distance increases.
Distance(KM)
Total Costs($)
Marginal Costs($) PER KM
0
$
25000
$57066
50000
$62946
$
75000
$70147
$
100000
$77713
$
125000
$85762
150000
$95861
$

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Define Marginal Cost

VIEW

Step 2: Computing the Marginal Cost

VIEW

Solution

VIEW

Step by step

Solved in 3 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

100 90 80 ATC AVC 20 10 MC 10 15 20 25 30 35 40 45 50 QUANTITY (Thousands of blenders) ch a Desktop PRICE (Dollars per blender) 8 & 8 8 8
Needed in 20 min
100 90 80 70 60 ATC 50 40 30 AVC 20 MC 10 10 20 30 40 50 60 70 80 90 100 QUANTITY (Thousands of lamps) COSTS (Dollars)
How would you change Acre's Reliability to better target Low End customer's needs? Reliability (MTBF) 10,000 17,043 50,000 Hint Submit
Fill the Table Total Total Fixed Variable Total Costs Costs Total Average Total Costs Costs $100 $140 $165 $210 $295 $425 $625 Product (TFC) (TVC) $50 $50 $50 $90 $50 $115 $50 $160 $50 $245 $50 $375 $50 $575 1 4 9. Total Total Fixed Variable Total Marginal Total Costs Costs Costs Costs Product (TFC) $50 (TVC) $0 |(TC) $50 (MC) na 1 $50 $50 $50 $50 $50 $100 2 $90 $140 $115 $165 4 $160 $210 $50 $50 $50 $295 $425 $245 6. $375 7 $575 $62 LolcolN 567
Tennis Products, Inc., produces three models of high-quality tennis rackets. The following table contains recent information on the sales, costs, and profitability of the three models: MODEL AVERAGEQUANTITYSOLD (UNITS/MONTH) CURRENTPRICE TOTALREVENUE VARIABLECOST PERUNIT CONTRIBUTIONMARGIN PERUNIT CONTRIBUTIONMARGIN* A B C Total 15,000 5,000 10,000 $30 35 45 $450,000 175,000 450,000 $1,075,000 $15.00 18.00 20.00 $15 17 25 $225,000 85,000 250,000 $560,000 *Contribution to fixed costs and profits.The company is considering lowering the price of Model A to $27 in an effort to increase the number of units sold. Based on the results of price changes that have been instituted in the past, Tennis Products’ chief economist estimates the arc price elasticity of demand to be –2.5. Furthermore, she estimates the arc cross elasticity of demand between Model A and Model B to be approximately 0.5 and between Model A and Model C to be approximately 0.2. Variable costs…
Indicate How to calculate the unit production cost
What are the ethical issues of having increased automation in the workplace? A/
6. Elasticity and total revenue The following graph shows the daily demand curve for bikes in Houston. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per bike) 300 275 ) 250 225 175 150 125 100 75 50 25 0 0 + 6 12 18 24 30 36 42 48 QUANTITY (B) Demand 54 60 66 72 Total Revenue
The following graph shows the daily demand curve for bikes in Houston. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. 240 220 200 Total Revenue 180 160 140 120 100 80 60 40 20 0 PRICE (Dollars per bike) 0 9 18 27 > 36 45 54 63 72 QUANTITY (Bikes) 00 8 Demand 90 81 99 106
Q VC AVC TC ATC MC $0 $0 $30 $0 $0 1 $40 $40 $70 $70 $40 2 $100 $50 $130 $65 $60 3 $180 $60 $210 $70 $80 4 $330 $82.5 $360 $90 $150 If the firm can sell its product for $60, it will not sell 2 units and incur losses of $10 sell 1 unit and incur losses of $10 а. b. continue to operate in hopes the market price increases shut down and incur losses of $30 с. d.
The firm's total profit or loss is $ Price, cost $495 $450 $300 $225 205 لا 260 Quantity MC 339 365 ATC AVC MR-P