Wing Al corporation produced and sold 600 units of output. The total cost of production was $30,000. Each unit sold for a price of $65. The Wing Al corporation's total revenues are:

A local shoe has total costs of production given by the equation TC-125+10q+5q². The market demand for shoes is given by the equation QD-50- (1/5) *P. a) Write the equations showing the average total cost and average variable cost and average fixed cost, each as a function of q. b) What is the breakeven price and breakeven quantity for this firm in the short run? c) What is the shutdown price and shutdown quantity for this firm in the short run? d) If the market price of the output is $50, how many units will this firm produce? e) Given a market price of $50. how many firms are in this market?

Problem One: The fixed cost for a company is 1200 OMR and the variable cost is 2 OMR per 100 unit. If demand function is given by p = L Determine the quantity that the company must sell to cover the fixed costs.

The table below provides a simple cost schedule for a firm in the short run, complete 1a – 1d using the data. Total Output in thousands (Q) Total Fixed Cost $(TFC) Total Variable Cost (TVC) Total Cost (TC) Marginal Cost (MC) Average Fixed Cost (AFC) Average Variable Cost (AVC) Average Total Cost (ATC) 0 $50   $50         1 $50 20 $70 20 50 20 70 2 $50   $85         3 $50   $95         4 $50   $100         5 $50   $110         6 $50   $130         7 $50   $165         8 $50   $215         9 $50   $275           Fill in the missing data using the cost calculations for short run costs