$150 $145 $140 MC $135 $130 $125 $120 ATC $115 $110 $105 $100 $95 $90 $85 $80 AVC $75 $70 $65 $60 $55 $50 $45 $40 $35 $30 $25 0 2 3 4 5 6 7 8 9 10 11 Quantity Produced Consider the above cost curves for a business firm. The graph is also in the files folder with name HW3 - Cost Functions. The variable cost of producing q = 7 units equals 343.00 dollars.
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- Units of fixed input K Labor Hours (L) Output (Q) TFC TVC TC AFC AVC ATC MC 3 0 0 90 0 90 0 0 0 0 3 1 4 90 20 110 22.5 5 27.5 5 3 2 90 90 40 130 1 0.444 1.444 0.233 3 3 160 90 60 150 0.563 0.375 0.938 0.286 3 4 200 90 80 170 0.45 0.400 0.85 0.5 3 5 230 90 100 190 0.391 0.435 0.826 0.667 3 6 250 90 120 210 0.36 0.480 0.84 1 3 7 260 90 140 230 0.346 0.538 0.885 2 3 8 265 90 160 250 0.340 0.604 0.943 4 If the firm produces 265 units of output and sells it at $1 per unit, is it making profits or losses? How much are they making?ATC, AAC, AVC, MC (/uni 270.00 24000 21000 180.00 150.00 120.00 10:00 60.00 30.00 0:00 02 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 Units of Output (0) Unit Cost Curves Refer to the graph above. The curves are not labeled. To help get this question right, you must first label the curves. An output level of 18 is identified with the dark vertical line. The shaded rectangular area (height times width) is the O average sunk cost. O total sunk cost O total avoidable fed cost. O total avoidable cost. O None of the aboveUnits of fixed input K Labor Hours (L) Output (Q) TFC TVC TC AFC AVC ATC MC 3 0 0 90 0 90 0 0 0 0 3 1 4 90 20 110 22.5 5 27.5 5 3 2 90 90 40 130 1 0.444 1.444 0.233 3 3 160 90 60 150 0.563 0.375 0.938 0.286 3 4 200 90 80 170 0.45 0.400 0.85 0.5 3 5 230 90 100 190 0.391 0.435 0.826 0.667 3 6 250 90 120 210 0.36 0.480 0.84 1 3 7 260 90 140 230 0.346 0.538 0.885 2 3 8 265 90 160 250 0.340 0.604 0.943 4 If the price of the output is $1, how many units of output should the firm produce to maximize profit? What is the firm’s profit level?
- 180.00 Short Run Cost Curves Numerical Data Labels Are Adjacent ToTheir Associated Markers (Markers Are The Squares, Dots, or Triangles On The Curves) MC AVC ATC 162.60 160.00 140.00 130.20 120.00 101 40 100.00 92,56 90.60 80.00 85.80 84.92 80.91 80.60 77.74 76,20 16.20 77,68 60.00 61.80 54.60 54.60 48.60 40.00 43.80 40.20 40.20 37,80 36.60 36.60 37.80 2.20 20.00 1.40 0.00 13 15 16 17 18 19 20 21 10 11 12 14 Quantity The figure shows a competitive firm in the paper clip industry. The price of a paper clip is $130.20. The firm's profit is O• $548.20 O • $751.05 O• $892,80 O • $1,096.24 180.00 Short Run Cost Curves Numerical Data Labels Are Adjacent ToTheir Associated Markers (Markers Are The Squares, Dots, or Triangles On The Curves) 160.00 162.60 MC AVC -ATC 140.00 130.20 120.00 100.00 101.40 92.56 80.00 RS 80 90.60 s0.91 84.92 16,20 80.60 774 76.20 77.68 60.00 54.60 61.80 54.60 40.00 48.60 40.20 43.80 37.80 40.20 36.60 20 36.60 20.00 140 0.00 10 11 12 13 14 15 16 17 18 19 20 21…H.W 7/ For the following data: Fixed cost = 100,000 ID Variable cost per unit = 300 ID Selling price per unit=500 ID n = 500 Calculate BEP by using chart methodOutput quantity Total variable cost Total cost 0 $0 $250 25 450 50 300 X 75 375 100 600 850 125 X 1125 150 1200 X 175 1875 200 2000 2250
- If explicit cost equals to $40000 and implicit cost $ 95,000 and the accounting profit is $23,000 what is the revenue and the economic profitCost of buying tomato plants are 20 cents each and a farmer sells them for 50 cents each. His fixed costs are euro 60 including the rate he pays to the local council. How many tomato plants must he sell to break even? What kind of profit will he realize from selling 180 plants? Formulate P(x) function clearly and graph it. Values of its intersections with both axes must be clear.Use the accompanying graph to answer the following questions. Assume the company makes 83,000 parts per month of Product A and 39,000 parts per month of Product B. Click the icon to view the provided graph. (a) Which Product has the higher variable cost, and what is this value in units of dollars per part? Product B has the higher variable cost. This value is $.50 /part. (Type an integer or a decimal. Round y (b) Which Product has the higher selling price, and what is this value in units of dollars per part? Product B has the higher selling price. This value is $ 1.69 /part. (Type an integer or a decimal. Round (c) Which Product has the faster breakeven time, and what is this value in units of months? Product B has the faster breakeven time. This value is 22 month(s). (Type a whole number.) (d) At 6 years, which Product makes more profit and what is this value in units of dollars? At 6 years Product A makes more profit. This value is $4,850,000. (Type a whole number.) k my instructor…
- If accounting profits are $6000 and explicit cost are $2200 Calculate total revenuepls solve this ques within 15-20 min I'll give you multiple upvotes. Please don't copy from other platforms, write it in your own words.Cost (thousands of $) The graph shown on the right represents the cost C (in thousands of dollars) of refining x gallons of gasoline per hour (in thousands). The vertical axis represents the cost, and the horizontal axis represents the number of gallons of gasoline refined. Cost of refining gasoline per hour 1000- 800- 600- 400- Answer the following questions below in parts (a) through (d). 200 O 100 200 300 400 500 600 700 800 Number of Gallorns (thousands) (a) What is the cost of refining 200 thousand gallons of gasoline per hour? thousand
