Charlies's lawn-mowing service is a profit-maximizing.competitive firm. Bob mous lawns for $27 each. His total cost each day is $280, of which $30 is a fixed cost. He mows 10 lawns a day. What can you say about Charlies's short-run decision regarding shutdown and his long-run decision regarding exit?
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- Bob’s lawn-mowing service is a profit-maximizing,competitive firm. Bob mows lawns for $27 each. Histotal cost each day is $280, of which $30 is a fixedcost. He mows 10 lawns a day. What can you sayabout Bob’s short-run decision regarding shutdownand his long-run decision regarding exit?ED Page view A Read aloud V Draw E Highlight 1. A local restaurant has a weekly fixed cost of $1507 per week, and unit costs of $1.75 per hamburger. They sell the hamburger for $5.99. a. Sketch the graph of the following cost and revenue functions. Shade and label the area of profit and loss. b. Label the ordered pair (x,y) for the break-even point. You end up selling 500 hamburgers in a week. Explain if it was a good or a bad week, and tell me how much money you profited or lost. C.Nabil cleaning service is a profit-maximizing, competitive firm. Nabil cleanswashroom for $25 each. His total cost each day is $260, of which $30 is a fixed cost.He deep cleans 10 toilets a day.a. What can you say about Nabil’s short-run decision regarding shutdown andb. What is his long-run decision regarding exit?Explain each decision with diagram.
- Lisa lawn company (LLC) is a lawn mowing business in a perfectly competitive market for lawn moving services. The following tables set out Lisa's costs Quantity(lawn per hour) Total Cost(dollars per lawn) 0 $30 1 $40 2 $55 3 $75 4 $100 5 $130 6 $165 A. If the market price is $30 per lawn, How many lawns per hour does Lisa's LLC now? B. If the market price is 30 per lawn, What is Lisa"s profit in the short run? C. if the market price falls to $20 per lawn, how many lawns per hour does Lisa's LLC now? D. if the market price falls to $20 per lawn, what is Lisa's profit in the short run? E. At What market price will Lisa shut down?Instructions: For profit/loss, round your answers to two decimal places. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers. A loss should be entered as a negative number. Check my work b. Given a price of $8 per gift box, how many boxes of chocolate should Choco Lovers produce? gift boxes What will the profit or loss be per gift box? 24 per gift box C. Suppose that Choco Lovers raises the price to $10 per gift box. Now how many boxes should Choco Lovers produce? gift boxes What will the new profit or loss be per gift box?Homework Question.Bob's lawn mowing service is a profit maximizingcompetitive firm. Bob mows lawns for $27 each. His total cost each day is $280 of which $30 is a fixed cost. He mows 10 lawns a day. What are Bob's economic and accounting profits in the short run
- Mehmood’s lawn-mowing service is a profit-maximizing, competitive firm. Mehmood mows lawns for Rs.270 each. His total cost each day is Rs.2800, of which Rs.300 is a fixed cost. He mows 10 lawns a day. What can you say about Mehmood’s short-run decision regarding shutdown and his long-run decision regarding exit?The cost data in the following table are for Marshall’s Meats, a perfectly competitive firm. Round your answers to 2 decimal places. Output Average Variable Cost AverageTotal Cost MarginalCost Total Cost 0 / / / $ 100 1 $ $ $ 130 2 150 3 180 4 220 5 270 6 330 7 440 a. Complete above the table. b. What is the break-even price? Break-even price: $ c. What is the shutdown price? Shutdown price: $ d. If the market price of the product is $50, what quantity will Marshall’s Meats produce? What will be its profit or loss? Quantity: ; (Click to select) Loss Profit : $ e. If the market price of the product is $110, what quantity will Marshall’s Meats produce? What will be its profit or loss? Quantity: ; (Click to select) profit loss : $Larry's Linens produces white cloth napkins for restaurants in a perfectly competitive market. The given table shows output and total costs for one day of production. Output TVC TFC TC MC ATC AVC 0 50 50 50 35 50 60 50 200 90 250 125 300 165 50 350 210 50 400 260 50 450 315 50 100 150 0 20 50 50 a. Complete the cost schedule for this firm by calculating TC, MC, ATC, and AVC. Remember to record the MC figures between the rows of output and total cost. Output TVC TFC TC MC ATC AVC 0 0 50 50 20 50 100 35 50 150 60 50 200 90 50 250 125 50 300 165 50 350 210 50 400 260 50 450 315 50 888 (Round your responses to two decimal places.) b. Draw a scale diagram and plot ATC, AVC, and MC. Use the multipoint drawing tool to plot the ATC, AVC, and MC curves. Properly label the curves. (Plot MC at the midpoint of the output intervals.) Carefully follow the instructions above, and only draw the required objects. c. Below which price should this firm choose to produce zero output? This firm should…
- The cost data in the following table are for Marshall’s Meats, a perfectly competitive firm. Round your answers to 2 decimal places. Output Average Variable Cost AverageTotal Cost MarginalCost Total Cost 0 / / / $ 95 1 $ $ $ 115 2 125 3 150 4 200 5 270 6 350 7 450 a. Complete above the table. b. What is the break-even price? Break-even price: $ c. What is the shutdown price? Shutdown price: $ d. If the market price of the product is $50, what quantity will Marshall’s Meats produce? What will be its profit or loss? Quantity: ; : $ e. If the market price of the product is $100, what quantity will Marshall’s Meats produce? What will be its profit or loss? Quantity: ; : $Billy’s Bean Bag Emporium produced 300 bean bag chairs but sold only 275 of the units it produced. The average cost of production for each unit of output produced was $100. The price for each of the 275 units sold was $95. What is the Total profit for Billy’s Bean Bag Emporium? Include in your answer your calculationQuestion 3 Mehmood’s lawn-mowing service is a profit-maximizing, competitive firm. Mehmood mows lawns for Rs.270 each. His total cost each day is Rs.2800, of which Rs.300 is a fixed cost. He mows 10 lawns a day. What can you say about Mehmood’s short-run decision regarding shutdown and his long-run decision regarding exit?