The table below reports production and cost data for a local bakery. Workers 1 2 3 4 5 6 7 8 9 10 Output 12 28 48 72 92 108 120 128 132 134 MPL 12 16 20 24 20 16 12 8 4 2 APL 12.00 14.00 16.00 18.00 18.40 18.00 17.14 16.00 14.67 13.40 VC $100.00 $200.00 $300.00 $400.00 $500.00 $600.00 $700.00 $800.00 $900.00 $1,000.00 AVC $8.33 $7.14 $6.25 $5.56 $5.43 $5.56 $5.83 $6.25 $6.82 $7.46 TC $300.00 $400,00 $500.00 $600.00 $700.00 $800.00 $900.00 $1,000.00 $1,100.00 $1,200,00 ATC $25.00 $14.29 $10.42 $8.33 $7.61 $7.41 $7.50 $7.81 $8.33 $8.96 MC $8.33 $6.25 $5.00 $4.17 $5.00 $6.25 $8.33 $12.50 $25.00 $50.00 Suppose the price of bread is $15 per loaf and the bakery bakes 132 loaves. How much profit are they losing (round your answer to two decimal places)?

The table below reports production and cost data for a local bakery. Workers 1 2 3 4 5 6 7 8 9 10 Output 12 28 48 72 92 108 120 128 132 134 MPL 12 16 20 24 20 16 12 8 4 2 APL 12.00 14.00 16.00 18.00 18.40 18.00 17.14 16.00 14.67 13.40 VC $100.00 $200.00 $300.00 $400.00 $500.00 $600.00 $700.00 $800.00 $900.00 $1,000.00 AVC $8.33 $7.14 $6.25 $5.56 $5.43 $5.56 $5.83 $6.25 $6.82 $7.46 TC $300.00 $400,00 $500.00 $600.00 $700.00 $800.00 $900.00 $1,000.00 $1,100.00 $1,200,00 ATC $25.00 $14.29 $10.42 $8.33 $7.61 $7.41 $7.50 $7.81 $8.33 $8.96 MC $8.33 $6.25 $5.00 $4.17 $5.00 $6.25 $8.33 $12.50 $25.00 $50.00 Suppose the price of bread is $15 per loaf and the bakery bakes 132 loaves. How much profit are they losing (round your answer to two decimal places)?

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter11: Labor Markets

Section: Chapter Questions

Problem 1SQ

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