Table (a) shows the cost data for Farmer Mill, a barley farmer. Round your answers to 2 decimal places. a) Complete table (a). Total Variable Cost (5) Average Total Cost (S) Average Variable Cost (S) Total Cost (S) Marginal Cost (S) Quantity 14 1 14 6 6 2. 18 10 4 24 16 533 4 32 24 42 34 8.4 6.8 10 54 46 7.67 12 68 60 8.57 14 b) What are the values of the break-even and shutdown prices? Round your answer to 2 decimal places. Break-even price: $| Shutdown price: [ c) Given the prices shown in column 1 of the following table, complete columns 2, 3. 4, and 5. (Assume that partial units cannot be produced.) |(1) (2) (4) (5) (6) (7) Total Quantity Demanded (8) Total Total Total Revenue(S) Total Profit(+)/ Loss(-)(S) Quantity Supplied 1 Quantity Supplied 2 Price(S) Output Cost(S) 672 21 24 -3 576 36 31 480 11 55 42 13 384 13 96 54 18 288 d) Suppose that there are a total of 120 farms in the barley market, including and identical to Farmer Mills. Show the total supply in
Table (a) shows the cost data for Farmer Mill, a barley farmer. Round your answers to 2 decimal places. a) Complete table (a). Total Variable Cost (5) Average Total Cost (S) Average Variable Cost (S) Total Cost (S) Marginal Cost (S) Quantity 14 1 14 6 6 2. 18 10 4 24 16 533 4 32 24 42 34 8.4 6.8 10 54 46 7.67 12 68 60 8.57 14 b) What are the values of the break-even and shutdown prices? Round your answer to 2 decimal places. Break-even price: $| Shutdown price: [ c) Given the prices shown in column 1 of the following table, complete columns 2, 3. 4, and 5. (Assume that partial units cannot be produced.) |(1) (2) (4) (5) (6) (7) Total Quantity Demanded (8) Total Total Total Revenue(S) Total Profit(+)/ Loss(-)(S) Quantity Supplied 1 Quantity Supplied 2 Price(S) Output Cost(S) 672 21 24 -3 576 36 31 480 11 55 42 13 384 13 96 54 18 288 d) Suppose that there are a total of 120 farms in the barley market, including and identical to Farmer Mills. Show the total supply in
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 9SQP
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Please take as many qustion fo rthis to complete this question It need to come together so i am getting it in bits and pieces. Unfortunitely with this one you need all info to complete\.
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