ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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n the aftermath of a hurricane, an entrepreneur took a one-month leave of absence
(without pay) from her $5,000-per-month job in order to operate a kiosk that sold fresh
drinking water. During the month she operated this venture, the entrepreneur paid the
government $2,500 in kiosk rent and purchased water from a local wholesaler at a price
of $1.34 per gallon. Write an equation that summarizes the cost function for her opera￾tion, as well as equations that summarize the marginal, average variable, average fixed,
and average total costs of selling fresh drinking water at the kiosk. If consumers were
willing to pay $2.25 to purchase each gallon of fresh drinking water, how many units
did she have to sell in order to turn a profit? Explain carefully. (LO1, LO3)

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