ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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How would you get the profit maximizing of total profit out of the graph?
I know the formula is pi = (p-
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- Suppose that average total cost is $60, average fixed cost is $25, marginal cost is $45, and output is 400. What is the numerical value of total variable cost?arrow_forward“A firm that earns only normal profit is not covering all its costs.” Do you agree or disagree?arrow_forwardUse the table to answer the uestion below: Quantity Total Cost 0 10 1 23 2 32 3 40 4 55 Calculate average fixed cost if 4 units are produced?arrow_forward
- What are the functions for MC and AC if TC = 100q + 100q2? Are the returns to scale increasing, decreasing, or constant?arrow_forwardKanye 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.arrow_forwardUsing the figure above, what is the total cost for the firm?arrow_forward
- 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)arrow_forwardConsider the following chart. How much is the marginal cost when total output increases from 390 pounds to 450 pounds? Total Output Total Cost Marginal Cost (Pounds) (TC = FC + VC) 0 150 150 300 240 450 320 600 390 750 450 900 420 1050 $1.50 $2.25 $2.00 $2.50arrow_forwardWhich average cost curves are U-shaped?arrow_forward
- 10:29 A bartleby.com ce ago A company manufactures small refrigerators. The total cost to manufacture 141 refrigerators is $9135. The total costs to manufacture 172 refrigerators is $10995. Assume that total cost, C, is linearly related to the number of refrigerators, x, the company manufactures and includes a fixed cost and a cost per refrigerator. A) Write the cost function, C(x) in terms of x, the number of refrigerators manufactured. Preview B) The total cost to manufacture 106 refrigerators is $ C) The fixed costs are $ D) The cost to produce each additional refrigerator is $arrow_forwardBob the Builder is currently producing 20 bookshelves at à total cost of $2,000. His average variable cost is $90. What are Bob's fixed costs? Bob's fixed costs must be $arrow_forwardK A cereal factory has weekly fixed costs of $22,000. It costs $1.26 to produce each box of cereal. A box of cereal sells for $4.06. Find the rule of the cost function c(x) that gives the total weekly cost of producing x boxes of cereal. OA. c(x)=1.26x OB. c(x)=22,000+ 1.26x OC. c(x)=22,000 +4.06x OD. c(x)=22,000+ 2.8xarrow_forward
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