ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- When a firm produces one more unit of output the total revenue increases from $805 to $965, and the total cost increases from $520 to $725. When this last unit of output was produced, what was the change in profit? Enter a whole number with no dollar sign. Enter a negative sign if appropriate.arrow_forwardR(x)= -0.956x^2 + 157x C(x)= 50.8x + 73.4 P(x)= R(x) - C(x) P(x)= -0.956x^2 + 106.2x - 73.4 What are the break-even points? What is the profit at the break-even points? What number of widgets sold will yield positive profit? Determine the number of widgets that you should try to sell in order to maximize profit. What is the maximum profit?arrow_forwardNumber of Workers Repairs Completed( per day) Marginal Product ( per day) of that worker 1 3 2 ? 3 18 4 30 12 5 ? 15 52 7 7 58 6. 8 61 3 What is the "optimal team size" for this firm ( give a numerical answer)? 3.arrow_forward
- 18) An appliance company determines that in order to sell x dishwashers, the price per dishwasher must be p=660-0.4x. It also determines that the total cost of producing x dishwashers is given by C(x) = 5000+ 0.6x². What is the maximum profit? A) $103,900 B) $108,900 C) $113,900 D) $212,800arrow_forwardIf a firm has negative accounting profits in the short run, it should Question 10 options: All other answers are incorrect Close since accounting profits are negative Stay open if economic profits are positive Stay open regardless of economic profitsarrow_forwardSolve this exactly plz I can't afford to post again and again so plz give me exact soloution in 30 min and take a thumb up plzarrow_forward
- Handwriting solution Not required...arrow_forwardTo produce the next popular toy, a company has to pay a factory $250, 000 to set up the production line. They also have to pay $25 per item for the raw materials and labor. Write function for the average cost to produce x items. Then describe what happens to the average cost as the factory produces a large number of toys.arrow_forwardIf output is produced according to Q = ( KL) 3/4, then this production process exhibits: a.first decreasing and then increasing returns to scale b.first increasing and then decreasing returns to scale c.increasing returns to scale d.decreasing returns to scale e.constant returns to scale Hedge Fun is a landscaping firm that specializes in topiary. Last year, the firm had 60 employees and served 120 customers. This year, it had 70 employees and served 140 customers. The average product of labor is at a maximum when the number of customers is: a.equal to 120 b.greater than 140 c.equal to 140 d.between 120 and 140 e.less then 120arrow_forward
- Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forwardBe sure to label any graphs. Before any production occurs, TC=$50. Further, suppose that when q=4 then ATC=$15.50 and when q=5 then AVC=$5. a.If this is the case, what is the MC for the 5th unit? b. If the firm decides to make 5 units (q=5), please state what the MR is equal to.arrow_forwardAm. 111.arrow_forward
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