Assume that the most efficient production technology available for making vitamin pills has the cost structure given in the following table. Note that output is measured as the number of bottles of vitamins produced per day and that costs include a normal profit. What is ATC per unit for each level of output listed in the table? Instructions: Round your answers to 2 decimal places. Output TC MC ATC 25,100 101,000 $ 0.51 50,100 151,000 1.01 75,100 188,500 2.51 100, 100 276,500 3.01 Is this a decreasing-cost industry? (Click to solect) Suppose that the market price for a bottle of vitamins is $2.51 and that at that price the total market quantity demanded is 82,610,000 bottles. How many firms will there be in this industry? | firm(s). Suppose that, instead, the market quantity demanded at a price of $2.51 is only 75,100. How many firms do you expect there to be in this industry? firm(s). Review your answers to parts b, c, and d. Does the level of demand determine this industry's market structure? (Click to select)

Assume that the most efficient production technology available for making vitamin pills has the cost structure given in the following table. Note that output is measured as the number of bottles of vitamins produced per day and that costs include a normal profit. What is ATC per unit for each level of output listed in the table? Instructions: Round your answers to 2 decimal places. Output TC MC ATC 25,100 101,000 $ 0.51 50,100 151,000 1.01 75,100 188,500 2.51 100, 100 276,500 3.01 Is this a decreasing-cost industry? (Click to solect) Suppose that the market price for a bottle of vitamins is $2.51 and that at that price the total market quantity demanded is 82,610,000 bottles. How many firms will there be in this industry? | firm(s). Suppose that, instead, the market quantity demanded at a price of $2.51 is only 75,100. How many firms do you expect there to be in this industry? firm(s). Review your answers to parts b, c, and d. Does the level of demand determine this industry's market structure? (Click to select)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Douglas Fur is a small manufacturer of fake-fur boots in San Diego. The following table shows the company’s total cost of production at various production quantities. On the following graph, plot Douglas Fur’s average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $210, so you should start your ATC curve by placing a green point at (1, 210). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of boots is $90, so you should start your MC curve by placing an orange square at (0.5, 90).) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
Answers clearly, don't copy paste. Mention part
Solve both subparts correctly and not use of excel
Kanye runs a musical dinner theater. Last year, he earned 50000 in revenue and had explicit cost of 20000. Kanye could have made 29750 selling video games on the internet and received an additional 10000 if he rented out the store and equipment. Calculate kanyes implicit costs.
Math 1
The Trouser Company has fixed costs of 2,000 per week. In addition, we have some information about its marginal costs (MC) and total variable costs (TVC) Output 0 30 60 90 100 120 150 MC 140 59 32 59 80 140 275 TVC 0 2850 4080 5310 6000 8160 14,250 For each of the output levels in the table, calculate the Trouser Company’ average variable costs (AVC) and average (total) cost (AC)
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Need help figuring this out step by step attached is a formula sheet that you can use to follow