Dollars A C нк 0 G MC O L units and charge price K. M units and charge price N. E units and charge price C. O E units and charge price A. MR ATC ELM Quantity 36. Refer to the diagram. To maximize profits or minimize losses, this firm should produce Demand
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- Don't use chatgpt or any AI A profit-maximising firm in a competitive market is currently producing 1,000 units of output. It has average revenue of $50, average total cost of $40 and fixed cost of $10,000. a) What is its profit? b) What is its marginal cost? c) What is its average variable cost? Is the efficient scale of the firm more than, less than or exactly 1,000 units?$ $50 MC $45 $40 $35 $20 0 MR 10 10 20 25 40 40 Quantity How much profit will this firm make? ATC DThe table below shows the information on Ilham Bakery. Item AmountRevenue in operating the bakery shop RM 80 000Income that could have been earned if working as an employee to others RM 7 000Utility cost RM 1 200Salary of workers RM 15 000Cost of raw materials RM 20 000 What is the economic profit?
- the table below shows the output cost and revenue situation of a firm. Study the table and asnwer the questions that fllows Q TVC TC MC P TR MR 0 0 150 0 200 0 - 1 110 C 110 175 175 175 2 170 320 G 150 I L 3 A D 46 135 405 105 4 250 E 34 120 J M 5 B 445 H 105 525 45 360 F 65 90 K N (a) what is the fixed cost of the firm? Explain your answer (b) determine the values from A-M by showing all workings employed (c) At what quantity and price is the firm in equilibrium position and in what market is the firm oeperating? explain your answerPrice and cost $4.00 3.20 2.40 1.60 0 Questraq; not sugamon Isnigiem sunsven lang jam neris MC ITAALS 25006 DMC Sorberg in ATC AVC HONDE SOM= 15152 850 1,700 MR 2,550 D Quantity a. If Elijah produces at the profit-maximizing level of output, how much is his total revenue? How much is his total cost? Briefly explain your calculations. a. How much economic profit is Elijah earning? Briefly explain your calculation.competitive market. If the market price is $30 and if the fitm is producing output, what is the amount of its total vanable cost? 15. The ngure below shows the cost curves for a profit-maxintizing firm in a periecuy Price TVC and cost TC.FTC AY83 MC ATC AVC TVに $40 50 36.00 30.00 MR 22.00 20.00
- Danilo and his wife operate a restaurant where they sell all their meals for $14.00 each. The markup on each meal is $5.00 and overhead expenses are 19.00% of cost. a. How much does it cost them to make each meal? $0.00 Round to the nearest cent b. What is their operating profit per meal? 50.00 Round to the nearest cent c. Calculate the break-even price. Round lo the nerert rentO Macmillan Learning Rambutan is a fruit prized in Eastern Asia for its unique hairy look. Once peeled, it reveals a sweet, slightly sour, grape-like, gummy-tasting fruit. The graph shows the average total cost, marginal revenue, and marginal cost curves of a perfectly or (purely) competitive rambutan farmer. This firm is incurring a firms will loss $ profit What is this firm's profit or loss, rounded to the nearest penny? In the long run, If the market price fell to $9.51, the firm would incur an economic loss. shut down. earn zero economic profit. earn an economic profit. Price per bushel $12.11 10.11 9.51 MR 5.4 MC B ATC 7 Quantity (bushels)Case 1. 2. P TR TC TFC TVC AC AVC MC 1000 5000 $1,500 $5.50 5.00 8000 1000 3.50 3.00 4.50 At Min. 8000 Level At Min. 6000 9000 3.50 Level 7000 4.50 4.00 3. $1.00 10000 4. 3.00 5. 4.00 2000 What do you recommend to the firm in case #4? O increase output. decrease output, but not shut down. O maintain its current rate of output Oshut down.
- ED Page view A Read aloud V Draw E Highlight 1. A local restaurant has a weekly fixed cost of $1507 per week, and unit costs of $1.75 per hamburger. They sell the hamburger for $5.99. a. Sketch the graph of the following cost and revenue functions. Shade and label the area of profit and loss. b. Label the ordered pair (x,y) for the break-even point. You end up selling 500 hamburgers in a week. Explain if it was a good or a bad week, and tell me how much money you profited or lost. C.MC АТС AVC $21.00 $20.00– $19.50 $15.00 MR = P $12.50- - 30 40 50 Output (Q) The firm shown in the diagram above is making a in the short run of . loss; $200 O profit; $200 O profit; $225 loss; $225Bob’s lawn-mowing service is a profit-maximizing,competitive firm. Bob mows lawns for $27 each. Histotal cost each day is $280, of which $30 is a fixedcost. He mows 10 lawns a day. What can you sayabout Bob’s short-run decision regarding shutdownand his long-run decision regarding exit?
