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- Sweaters sell for $19 at the crafts fair. Allie knits sweaters and her marginal costs are given in the table below. Allie's marginal costs increase with each additional sweater. If Allie is behaving rationally, how many sweaters will she sel? Marginal Cost ($) Sweater 2nd Sweater 11 ard Sweater 15 th Sweater 21 sth Sweater 28 eth sweater 35 Allie will sell sweater(s).Done Save & Exit C Su Check my wWhat is the marginal benefit associated with producing sx units of the control variable, O (identify point Din the table)? 35 Total variable Benefits Marginal Marginal Marginal Net Benefit Control Total Net Costs Benefits Benefit Cost Sepped B(Q) C(Q) N(Q) MB(Q) MC(Q) MNB (Q) 1. 900 100 800 900 100 800 2 1,700 300 800 200 600 3 2,400 600 1,800 700 E 400 4 1,000 2,000 600 400 200 3,500 1,500 2,000 500 500 6. 3,900 2,100 1,800 D 600 -200 4,200 2,800 1,400 300 700 -400 4,400 B 200 800 -600 008 4,500 4,500 100 900 -800 10 4,500 5.500 -1,000 1,000 -1,000 Mutiple Choice 600 400 200 100
- while taking decisions there are different kinds of constraints related to resources, time,rules,physical realityetc leads to the matter of choice.how will you explain the whole situation in terms of costWhen the first automobiles were built in 1901, they were made by skilled workers using hand tools. Later, in 1913, Henry Ford introduced the moving assembly line, which lowered costs and speeded production. Over the years, the production line has become ever more mechanized, and today robots replace people in many tasks. Search The graph below shows the demand curve for cars in 1901. Suppose the least-possible cost of producing a car is $250 and that the efficient scale is 0.5 cars a day. D Draw the average total cost curve in 1901. Label it ATC₁ 500- 400- Price (dollars per car) 300- Q SON The graph below shows the demand curve for cars in 2020. Suppose the least possible cost of producing a car is $10,000 and that the efficient scale is 200,000 cars a day Draw the average total cost curve in 2020 Label it ATC₂ Price (dollars per car) 50,000 40,000 30,000+ Next QComplete the table below: Output TotalCost(RM) Totalvariablecost(RM) Totalfixedcost(RM)Averagefixedcost(RM)Averagetotalcost(RM)Marginalcost (RM) 0 505 16010 20020 25036 33058 40072 48088 580106 700130 820150 980
- Based on the figure, up to which level of output will like's Ice Cream Kitchen have increasing marginal retums? A only at 0 gallons B. up to 60 gallons C. up to 40 gallons up to 10 gallons D. Cost (dollars per gallon) 0 MC ATC AVC 10 20 30 40 50 60 70 80 90 100 Quantity (gallons of ice cream per hour * 2What is the marginal cost associated with producing three units of the contral variable, O (identify point E in the tablej? 36 Total Total Costs Benefits Benefit Net Marginal Marginal Narginal Net Bеnefit Control variable Benefits Cost MB(0) MC (Q) MND (0) Sepped B(Q) C(0) 900 100 800 900 100 800 2 1,700 300 800 200 600 2,400 600 1,800 700 E 400 4 1,000 2,000 600 400 200 3,500 1,500 2,000 500 500 600 1,800 1,400 3,900 2,100 D -200 4,200 4,400 2,800 300 700 -400 200 100 800 800 -600 4,500 4,500 900 -800 10 4,500 5,500 -1,000 1,000 -1,000 Mutiple Choice 50 100 200 3003. The relationship between marginal and average costs Consider the following scenario to understand the relationship between marginal and average values. Suppose Paolo is a professional basketball player, and his game log for free throws can be summarized in the following table. Fill in the columns with Paolo's free-throw percentage for each game and his overall free-throw average after each game. Game Result Total Game Free-Throw Percentage Average Free-Throw Percentage 6/8 75 8/16 10/20 18/30 26/40 Game 1 2 3 4 5 RCENTAGE 6/8 2/8 2/4 8/10 8/10 On the following graph, use the orange points (square symbol) to plot Paolo's free-throw percentage for each game individually, and use the green points (triangle symbol) to plot his overall average free-throw percentage after each game. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 90 75 Game Free-Throw Percentage A Average Free-Throw Percentage
- 3. The relationship between marginal and average costs Consider the following scenario to understand the relationship between marginal and average values. Suppose Latasha is a professional basketball player, and her game log for free throws can be summarized in the following table. Fill in the columns with Latasha's free-throw percentage for each game and her overall fre-throw average after each game. Game Free-Throw Percentage 80 Average Free-Throw Percentage 80 Game Result 8/10 4/10 2/8 2/4 6/8 Game Total 8/10 12/20 14/28 16/32 22/40 1 2 3 4 On the following graph, use the orange points (square symbol) to plot Latasha's free-throw percentage for each game individually, and use the green points (triangle symbol) to plot her overal average free-throw percentage after each game. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 100 Gane Free Tow Percenege 70 Average Fre-Tow Percartage 20 10 GAME…● ● The marginal benefit to Lesley of staycations during the year at a hotel are given by the ollowing schedule: Number of Weekend Staycations 1 2 3 4 5 Marginal Benefit $550 $460 $390 $250 $200 $150 If the marginal cost of a staycation at the hotel is constant and equal to $360, how many weekends at the hotel is Lesley likely to enjoy? If Lesley stays for 5 weekends, what is the net benefit/(cost)?QUESTION 21. Mr. Jack is in the process of expanding his manufacturing business. He decided to opena plant in the coming year. He has four locations in mind. The costs information forthese locations is in the following table.Locations A B C DFixed Costs 60,000 80,000 100,000 130,000VariableCosts/unit 30 20 15 10a.ii. Draw the total costs lines for each location on the same axes. (Use output rangesof 2000, 4000, 6000, 8000 etc. and intervals of $50,000 on the Y axis