ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Suppose your business operates a machine at a cost of ?$200 per day whether it is used or not plus ?$25 for each hour it is used.
Use the line drawing tool to draw the daily cost curve for this machine assuming an 8 hour day. Label the curve? 'cost'.
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- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
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- You will get up vote for sure.
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- Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only one factory. However, it is considering expanding production to two or even three factories. The following table shows the company's short-run average total cost each month for various levels of production if it uses one, two, or three factories. (Note: Q equals the total quantity of bikes produced by all factories.) Number of Factories Q = 100 Q = 200 520 400 660 480 800 560 1 2 3 Average Total Cost (Dollars per bike) Q = 300 Q = 400 320 400 320 320 400 320 Q = 500 560 480 400 Q = 600 800 660 520 Suppose Ike's Bikes is currently producing 100 bikes per month in its only factory. Its short-run average total cost is $ per bike. Suppose Ike's Bikes is expecting to produce 100 bikes per month for several years. In this case, in the long run, it would choose to produce bikes using On the following graph, plot the three short-run average total cost curves (SRATC) for Ike's Bikes from the…arrow_forward1-18 Katherine D’Ann is planning to finance her college education by selling programs at the football games for State University. There is a fixed cost of $400 for printing these programs, and the variable cost is $3. There is also a $1,000 fee that is paid to the university for the right to sell these programs. If Katherine was able to sell programs for $5 each, how many would she have to sell in order to break even?arrow_forwardplease helparrow_forward
- urgent Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forwardQuantity of Labor Total Product Total Revenue 1 4 $ 18 2 8 36 3 11 50 4 13 59 5 14 63 Refer to the given data. This firm's product price is A) $4.5. B) $4.25. C) $4.8. D) $18. Please explain/show your work, thank you! Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forwardCost, revenue, and profit are in dollars and x is the number of units. Suppose that the marginal revenue for a product is MR = 1800 and the marginal cost is MC = 90Vx + 4, with a fixed cost of $600. (a) Find the profit or loss from the production and sale of 5 units. There is a -Select-- | of $ (b) How many units will result in a maximum profit? unitsarrow_forward
- CEO of Ganymede company produces goods with 500 customers where the number of customers is equal to Q produced, with the cost function TC = 2Q2 + 400Q + 1,300,000. Questions a. Determine fixed costs, variable costs and average costs that the customer musr pay. Describe the calculations! b.If the item sells for 5,000 and 7,000, determine the position of the company and can the company grow?arrow_forwarddon't use Al bot or chat GPT otherwise downvote.correct answer will get instant upvote show calculationarrow_forwardA fruit stand owner rents a stall at the market for $255$255. Each month, the owner spends $295$295 for an accountant’s services and $695$695 on fresh fruit. The fruit stand sells 135135 kilograms of fruit monthly at a price of $8$8 per kilogram. Step 1 of 2: Calculate the fruit stand’s profit or loss. Write the exact answer; do not round. Use a minus sign to show losses if necessary.arrow_forward
- Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forwardPlease solve with proper explanation and calculationarrow_forwardPlease answer this before 7:45! Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forward
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