NPrice (per unit)141312111098654321Market supplyMarket demand1 2 3 4 5 6 7 8 9 10 11 12 13 14 15Quantity (units per time period)Instructions: In part a, round your response to two decimal places. In parts b, c. aa. What is the market price (market value) of the product?$8per unitb. What is the market output?unit(s)Assume that the product depicted above generates external costs in consumption

a. The concept of market price is fundamental in economics, particularly within the framework of…

Answered: N Price (per unit) 14 13 12 11 10 9 8…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Derive the following with complete solution.a. Equilibrium quantityb. Equilibrium price
**only enter numbers NO $$ and do NOT type in words (e.g. loss/profit, $'s etc - ONLY numbers) PRICE Price Info A Quantities B с D E F G Given this information: H A = $162 1 = 20 I L M Quantity K N B = $144 J-70 O 1 I I I I I I I I I I I I ATC MC K=130 AVC C = $120 D = $88 L = 240 E = $54 F = $40 G = $22 H = $14 Shutdown Point in $ = Quantity Produced ATC ($$ amount) AVC ($$ amount) TC ($$ amount) TVC ($$ amount) Profit/Loss ($$ amount) = BreakEven point in $ = Quantity Produced ATC ($$ amount) L AVC ($$ amount) TC ($$ amount) L TVC ($$ amount) Profit/Loss ($$ amount) L Profit/Loss Point in $ = Quantity Produced = ATC ($$ amount) = AVC ($$ amount) TC ($$ amount) = TVC ($$ amount) Profit/Loss ($$ amount)
A seller can sell 3 diamond rings at a price of $12000 each. If he sells 4, his MR will be $10500. what is total revenue?
1. Which of the below is not a question to ask ourselves when designing a product? Customer-requested functions What current products can do The constraints of the materials Cost of service produced
2. Cost-Volume-Profit Chart The cost-volume-profit chart shows the relationship between sales volume, costs, and profit. To cre this chart, we need to calculate the following values: - Contribution Margin per Unit: Selling Price - Variable Cost per Unit - Contribution Margin Ratio: Contribution Margin per Unit / Selling Price - Break-Even Point: Fixed Costs / Contribution Margin per Unit - Profit: (Unit Sales * Selling Price) - (Unit Sales * Variable Cost per Unit) - Fixed Costs For the first 100 units of clever wearable devices, we can calculate these values as follows: - Contribution Margin per Unit: $150 $50 = $100 - Contribution Margin Ratio: $100/$150 = 0.67 or 67% - Break-Even Point: $10,000/$100 = 100 units - Profit: (Unit Sales $150) - (Unit Sales * $50) - $10,000 We can plot these values on a graph with unit sales on the x-axis and revenue, costs, and profit on the y-axis.
Price ($) 1000 500 300 0 300 500 Supply Demand What is the total cost of producing 300 iPads? 1000 Quantity
(a) What is the profit-maximizing level of output and how much daily profit will the producer below earn if the price of pizza is $ 2.50 per slice? MC S/lice ATC AVe 2.50 1.40 slices/day S70
no handwritten notes
Total revenue is $4400 and output is 220 Find the value of average revenue
+ Output Variable Total AFC AVC ATC Marginal Price Cost Cost Cost $100 300 $150 350 $210 410 $300 500 $430 630 1 2 3 4 5 6 7 $600 $819 800 1019 180 170 160 150 140 130 120 Total Revenue MR Assume the producer was planning to produce a quantity of six units. What would you advise the producer to do in terms of production and pricing to maximize their profit? Provide an explanation of your reasoning. Be specific in your price and quantity targets.
QUESTION 29 PRODUCT product X b) product Y product Z 153 1988 price: $2.00 2,000 O c) 1.2 O d) 150 O e) 200 quantity: price: $1.00 1,000 quantity: price: quantity: $5.00 1,000 1989 $4.00 2.500 $1.00 1,500 $4.00 1,000 YEAR 1990 $6.00 2.000 $1.00 2,500 29. Given the data in the above table, what is the price index for 1991, using 1988 as the base year and using the 1988 consumption pattern (market basket)? O a) 100 $2.00 1,000 1991 $8.00 1.500 $1.00 3,000 $3.00 1,000

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