answers for question 10,11,12 and 13 Marginal CostTotal RevenueMarginalRevenueQuantityTotal CostPrice$5.00$3.251$5.50$3.25$6.50$3.25$8.00$3.254$10.00$3.255$12.50$3.256.$15.50$3.257$19.00$3.25$23.00$3.257.Refer to Table 14-14. What is Bob's total fixed cost?$0$3$5$9a.b.с.d.8.Refer to Table 14-14. What is the total revenue from selling 5 units?$2.50$3.25$12.50$16.25a.b.с.d.Refer to Table 14-14. What is the marginal revenue of the 4th unit?$2.00$3.259.a.b.с.$10.00d.$13.0010.Refer to Table 14-14. At what quantity will Bob maximize his profit?5 unitsa.b.6 units7 units8 unitsс.d.11.Refer to Table 14-14. When Bob produces and sells the profit-maximizing quantity, how much profitdoes he earn?a.$0.25b.$2.75$4.00$5.25с.d.12.Refer to Table 14-14. Suppose that due to a decrease in the market demand for bread the marketprice of bread drops to $2.75 per loaf. At this new price, what is Bob's profit-maximizing quantity?5 units6 units7 unitsa.b.с.d.8 units 13.of bread drops to $2.75. At this new price, if Bob produces and sells the profit-maximizing quantity, howmuch profit will he earn?Refer to Table 14-14. Suppose that due to a decrease in the market demand for bread the market pricea.$0.25b.$1.25с.$2.25d.The firm will lose $6.25.

Profit is maximized when P >= MC, where MC = Change in TC / Change in Q When Q = 6, MC = (15.5 -…

7. Refer to Table 14-14., What is Bob's total fixed cost? $0 $3 $5 $9 a. b. с. d. Refer to Table 14-14. What is the total revenue from selling 5 units? $2.50 $3.25 $12.50 $16.25 8. a. b. с. d. 9. Refer to Table 14-14. What is the marginal revenue of the 4th unit? $2.00 $3.25 $10.00 a. b. с.

7. Refer to Table 14-14., What is Bob's total fixed cost? $0 $3 $5 $9 a. b. с. d. Refer to Table 14-14. What is the total revenue from selling 5 units? $2.50 $3.25 $12.50 $16.25 8. a. b. с. d. 9. Refer to Table 14-14. What is the marginal revenue of the 4th unit? $2.00 $3.25 $10.00 a. b. с.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter17: Making Decisions With Uncertainty

Section: Chapter Questions

Problem 17.6IP

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Question

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answers for question 10,11,12 and 13

Marginal Cost
Total Revenue
Marginal
Revenue
Quantity
Total Cost
Price
$5.00
$3.25
1
$5.50
$3.25
$6.50
$3.25
$8.00
$3.25
4
$10.00
$3.25
5
$12.50
$3.25
6.
$15.50
$3.25
7
$19.00
$3.25
$23.00
$3.25
7.
Refer to Table 14-14. What is Bob's total fixed cost?
$0
$3
$5
$9
a.
b.
с.
d.
8.
Refer to Table 14-14. What is the total revenue from selling 5 units?
$2.50
$3.25
$12.50
$16.25
a.
b.
с.
d.
Refer to Table 14-14. What is the marginal revenue of the 4th unit?
$2.00
$3.25
9.
a.
b.
с.
$10.00
d.
$13.00
10.
Refer to Table 14-14. At what quantity will Bob maximize his profit?
5 units
a.
b.
6 units
7 units
8 units
с.
d.
11.
Refer to Table 14-14. When Bob produces and sells the profit-maximizing quantity, how much profit
does he earn?
a.
$0.25
b.
$2.75
$4.00
$5.25
с.
d.
12.
Refer to Table 14-14. Suppose that due to a decrease in the market demand for bread the market
price of bread drops to $2.75 per loaf. At this new price, what is Bob's profit-maximizing quantity?
5 units
6 units
7 units
a.
b.
с.
d.
8 units

13.
of bread drops to $2.75. At this new price, if Bob produces and sells the profit-maximizing quantity, how
much profit will he earn?
Refer to Table 14-14. Suppose that due to a decrease in the market demand for bread the market price
a.
$0.25
b.
$1.25
с.
$2.25
d.
The firm will lose $6.25.

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