Refer to Figure 14-5. In which panel is the firm making a loss? panel (a) panel (b) panel (c) both panels (b) and (c)

13. (1) Variable Input (2) Total Variable Cost 1 2 3 (3) Total Fixed Cost (4) Output 20 50 90 (5) Marginal Cost $30 $100 $60 $100 $90 $100 $120 $100 120 5 $150 $100 140 (D) The dollar amounts that go in blanks (C) and (D), respectively, are a) $30.00 and $34.00. b) $3.00 and $4.00. c) 6.67 and $10.00. d) $1.00 and $1.50. (A) B

Output TFC TVC TC MC ATC A 25 25 В 1 25 25 50 25 50 C 2 25 40 65 32.5 3 25 70 95 E 25 110 33.75 F 5 25 160 50 What is the marginal cost of the 4th unit of output? 40 25 50 Cannot be determined.

ork (5.3) Part 1 of 3 A manufacturing company makes two types of water skis, a trick ski and a slalom ski. The relevant manufacturing data are given in the table. Labor Hours per Ski Maximum Labor-Hours Available per Day 120 25 Department Fabricating Finishing Answer parts (A), (B), and (C) below Trick Ski 5 1 Slalom Ski 4 1 CITT (A) If the profit on a trick ski is $50 and the profit on a slalom ski is $60, how many of each type of ski should be manufactured each day to realize a maximum profit? Wh is the maximum profit? The maximum profit is $ The maximum occurs when trick skis and slalom skis are produced. 4