Table 8.1 Q 0 1 2 3456 3 4 6 7 8 9 10 MC $30 20 30 40 50 60 70 80 90 100 ATC $230 125.00 93.33 80.00 74.00 71.67 71.43 72.50 74.44 77.00 AVC Produce an output of 5 and earn a negative economic profit Shutdown and produce nothing Produce an output of 5 and earn a positive economic profit Produce an output of 6 and earn a positive economic profit -11 $130 75.00 60.00 55.00 54.00 55.00 57.14 60.00 63.33 67.00 Refer to table 8.1. If the competitive market price for kale is $51, what will the firm do in the short-run?

Richardson Ski Racing (RSR) sells equipment needed for downhill ski racing. One of RSR's products is fencing used on downhill courses. The fence product comes in 150- foot rolls and sells for $215 per roll. However, RSR offers quantity discounts. The following table shows the price per roll depending on order size: Quantity Ordered From To 1 60 61 120 121 240 241 and up Price per Roll $215 $195 $175 $155 Click on the datafile logo to reference the data. DATA file (a) Use the XLOOKUP function with the preceding pricing table to determine the total revenue from these orders. (b) Use the COUNTIF function to determine the number of orders in each price bin. From To Price per Roll Number of Orders 1 60 $215 61 120 $195 121 240 $175 241 and up $155 172 13 0.0

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