日9ひ Unit 9 In-Class Exercise - FINAL (1) - Word P Search AutoSave ff Jared Holloway JH 스 File Home Insert Draw Design Layout References Mailings Review View Help A Share P Comments Graph the average total cost, average variable, average fixed, and marginal cost curves Unit 9- Cost, Revenue, and Profit The table shows the quantity produced and the total, average, variable, cost, and marginal costs for a firm. Complete the table. Quantity Total Cost Variable Fixed Cost Average Total Cost Average Variable Fixed Average Marginal Cost Cost Cost Cost N/A N/A N/A NA ক 100 50 50 95 180 130 35 50 20 215 225 175 10 25 261 211 49 385 335 450 |10 685 185 Graph the total cost, variable cost, and fixed cost curves. Assume the price is $50, draw the marginal revenue curve and identify the profit maximizing output level and shade in the total profit. Assume the price is $50, draw the total revenue curve and identify the profit maximizing output level and the maximum profit Page 2 of 2 150 words O Focus + 70% 3:23 PM P Type here to search ロ G) 4/22/2020

日9ひ Unit 9 In-Class Exercise - FINAL (1) - Word P Search AutoSave ff Jared Holloway JH 스 File Home Insert Draw Design Layout References Mailings Review View Help A Share P Comments Graph the average total cost, average variable, average fixed, and marginal cost curves Unit 9- Cost, Revenue, and Profit The table shows the quantity produced and the total, average, variable, cost, and marginal costs for a firm. Complete the table. Quantity Total Cost Variable Fixed Cost Average Total Cost Average Variable Fixed Average Marginal Cost Cost Cost Cost N/A N/A N/A NA ক 100 50 50 95 180 130 35 50 20 215 225 175 10 25 261 211 49 385 335 450 |10 685 185 Graph the total cost, variable cost, and fixed cost curves. Assume the price is $50, draw the marginal revenue curve and identify the profit maximizing output level and shade in the total profit. Assume the price is $50, draw the total revenue curve and identify the profit maximizing output level and the maximum profit Page 2 of 2 150 words O Focus + 70% 3:23 PM P Type here to search ロ G) 4/22/2020

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 3PA

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Similar questions

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When 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 Q
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