12:29 AM M 4G 5.42 46 46 48 (4) 5.42 46 K/S 1 Question 12 0/1 pt 298 Details A company produces very unusual CD's for which the variable cost is $9 per CD and the fixed costs are $ 20000. They will sell the CD's for $ 79 each. Let a be the number of CD's produced. Write the total cost C as a function of the number of CD's produced. C=$ Write the total revenue R as a function of the number of CD's produced. R=$ Write the total profit P as a function of the number of CD's produced. P=$ Find the number of CD's which must be produced to break even. The number of CD's which must be produced to break even is Question Help: Video Post to forum Question 13 0/1 pt 298 Details A baby has its first doctor's visit when it is 4 months old and it weighs 19 pounds. The doctor tells the mother to expect the baby to gain 3 pounds each month. Find an equation in the form y = mx + b that models the baby's weight, where a is the age of the baby in months and y is its weight in pounds. Answer: y = Question Help: Post to forum Question 14 0/1 pt 298 Details In 1994, the moose population in a park was measured to be 4130. By 1999, the population was measured again to be 4180. If the population continues to change linearly: Find a formula for the moose population, P, in terms of t, the years since 1990. P(t) = What does your model predict the moose population to be in 2003? Question Help: Video Post to forum Question 15 0/1 pt 298 Details The median home value in Arkansas and Michigan (adjusted for inflation) are shown below. Year Arkansas Michigan 1950 2000 24800 72800 45400 115600 If we assume that the house values are changing linearly, a) In which state have home values increased at a higher rate? Select an answer b) If these trends were to continue, what would be the median home value in Arkansas in 2010? $ c) If we assume the linear trend existed before 1950 and continues after 2000, the two states' median house values will be (or were) equal in what year? (The answer might be absurd) The year Question Help: Video Post to forum Question 16 0/1 pt 298 Details A phone company charges for service according to the formula: C(n) = 30+ 0.06n, where n is the number of minutes talked, and C(n) is the monthly charge, in dollars. The rate of change in this equation is: Select an answer The initial value in this equation is: Question Help Video Post to forum K → = ||| Select an answer 3

How does fixed cost affect marginal cost? Why is this relationship important?

What are explicit and implicit costs?

Average cost curves (except for avenge fixed cost) tend to be U-shaped, decreasing and then increasing. Marginal cost curves have the same shape, though this may be harder to see since most of the marginal cost curve is increasing. Why do you think that average and marginal cost curves have the same general shape?

Compute the average total cost, average variable cost, and marginal cost of producing 50 and 72 haircuts. Draw the graph of line three curves between 60 and 72 haircuts.

What shape of a long-run average cost curve illustrates economies of scale, constant returns to scale, and diseconomies of scale?

A common name for fixed cost is overhead. If you divide fixed cost by the quantity of output produced, you get average fixed cost. Supposed fixed cost is 1,000. What does the average fixed cost curve look like? Use your response to explain what spreading the overhead means.

What is the difference between fixed costs and variable costs?

Return to Figure 7.7. What is the marginal gain in output from increasing the number of batters from 4 to 5 and from 5 to 6? Does it continue the pattern of diminishing marginal returns? Figure 7.7 How output Affects Total costs

How do we calculate each of the following: marginal cost, average total cost, and average variable cost?