ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Supposed you and your friends decide to rent the four bedroom apartment and subscribe to cable. The average fixed cost per roommate will be____?
If only 3 people moved into the four bedroom apartment, the average fixed cost of rent and cable will be _____, which means that you will have to pay _____ of just the rent on your own
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- Output (unit) Total cost (RM) Total fixed cost (RM) Total variable cost (RM) Average fixed cost (RM) Average variable cost (RM) Average total cost (RM) Marginal cost (RM) 0 600 600 - - - - - 10 1050 600 450 60 45 105 45 20 1450 600 850 30 42.5 72.5 40 30 1800 600 1200 20 40 60 35 40 2100 600 1500 15 37.5 52.5 30 50 2450 600 1850 12 37 49 350 60 2850 600 2250 10 37.5 47.5 40 70 3300 600 2700 8.57 38.57 47.14 45 80 3850 600 3250 7.5 40.625 48.125 55 90 4500 600 3900 6.67 43.34 50 65 100 5250 600 4650 6 46.5 52.5 75 Which time period is the firm operating? Why?arrow_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_forwardPlease solve with proper explanation and calculationarrow_forward
- 3.) Assume that the following has a linear cost function. Fixed Cost Marginal Cost per item Item Sells For $250 $17 $26 Find the following. (a) the cost function (b) the revenue function (c) the profit function (d) the profit on 97 itemsarrow_forwardThe graph below shows the market for mandarin oranges in Odin for the month of November (in thousands of kilos). 1 6 5 X 4 3 2 450 750 10501200¹ 1350 300 600 900 Quantity per month Price 8 7 DS 0 150 Tools D₂ S2arrow_forward
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