If fixed cost decreases to $16,000, does this change the production decision of the airline in the short run?

Consider an airline's decision about whether to cancel a particular flight that hasn't sold out. The following table provides data on the total cost of operating a 100-seat plane for various numbers of passengers. Total Cost Number of Passengers (Dollars per flight) 40,000 10 60,000 20 65,000 30 68,000 40 70,000 50 71,000 60 72,500 70 73,500 80 74,000 90 74,300 100 74,500 Given the information presented in the previous table, the fixed cost to operate this flight is s At each ticket price, a different number of consumers will be willing to purchase tickets for this flight. Assume that the price of a flight is fixed for the duration of ticket sales. Use the previous table as well as the following demand schedule to complete the questions that follow. Price Quantity Demanded (Dollars per ticket) (Tickets per flight) 1,000 700 30 400 90 200 100

Q(P) = 300/N – P, where N = number of firms TC(Q) = 50 + Q2, what are the firms fixed and variable costs?

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The total revenue function for a product is given by R=655x dollars, and the total cost function for this same product is given by C=19,250+70x+x2, where C is measured in dollars. For both functions, the input x is the number of units produced and sold. a. Form the profit function for this product from the two given functions. b. What is the profit when 25 units are produced and sold? c. What is the profit when 43 units are produced and sold?

Which cost concept is used to determine the most cost-efficient level of production? a) Average cost b) Total cost c) Marginal cost d) Variable cost

Question 22

Calculate output if total revenue is $6600 and the price per UNIT is $11

Suppose a company has fixed costs of $1500 and variable costs of (3/4)x + 1120 dollars per unit, where x is the total number of units produced. Suppose further that the selling price of its product is 1200 − (1/4)x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.)x =  (b) Find the maximum revenue. (Round your answer to the nearest cent)$  (c) Form the profit function, P(x), from the cost and revenue functions.P(x) =         Find maximum profit. (Round your answer to the nearest cent.)$ (d) What price will maximize the profit? (Round your answer to the nearest cent.)

Melody Music Store has a total cost function of TC = 500 + 10Q + 5Q². (a) Find the firm's fixed costs (FC) and variable costs (VC). (b) Find the firm's average fixed cost (AFC), average variable cost (AVC), and average total cost (ATC).