ontinue with the table and complete the calculation for Marginal Cost: Bags/ Participants Fixed Cost Variable Cost Total Cost Average Variable Cost Marginal Cost Total Revenue wt Price $20 Marginal Revenue Total Profit 0 1700 0 1700 0 -1700 100 1700 500 2200 a 3a 2000 20 -200 200 1700 1200 2900 b 3b 4000 20 1100 300 1700 2700 4400 c 3c 6000 20 1600 400 1700 5200 6900 d 3d 8000 20
ontinue with the table and complete the calculation for Marginal Cost: Bags/ Participants Fixed Cost Variable Cost Total Cost Average Variable Cost Marginal Cost Total Revenue wt Price $20 Marginal Revenue Total Profit 0 1700 0 1700 0 -1700 100 1700 500 2200 a 3a 2000 20 -200 200 1700 1200 2900 b 3b 4000 20 1100 300 1700 2700 4400 c 3c 6000 20 1600 400 1700 5200 6900 d 3d 8000 20
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 3SCQ: The WipeOut Ski Company manufactures skis for beginners. Fixed costs are 30. Fill in Table 7.16 for...
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Question
Continue with the table and complete the calculation for Marginal Cost:
Bags/ Participants
|
Fixed Cost
|
Variable Cost
|
Total Cost
|
|
Marginal Cost
|
Total Revenue wt Price $20
|
Marginal Revenue
|
Total Profit
|
0
|
1700
|
0
|
1700
|
0
|
-1700
|
|||
100
|
1700
|
500
|
2200
|
a
|
3a
|
2000
|
20
|
-200
|
200
|
1700
|
1200
|
2900
|
b
|
3b
|
4000
|
20
|
1100
|
300
|
1700
|
2700
|
4400
|
c
|
3c
|
6000
|
20
|
1600
|
400
|
1700
|
5200
|
6900
|
d
|
3d
|
8000
|
20
|
1100
|
500
|
1700
|
9000
|
10700
|
e
|
3e
|
10000
|
20
|
-700
|
600
|
1700
|
15000
|
16700
|
f
|
3f
|
12000
|
20
|
-4700
|
700
|
1700
|
23800
|
25500
|
g
|
3g
|
14000
|
20
|
-11500
|
800
|
1700
|
36800
|
38500
|
h
|
3h
|
16000
|
20
|
-22500
|
900
|
1700
|
55800
|
57500
|
i
|
3i
|
18000
|
20
|
-39500
|
1000
|
1700
|
83000
|
84700
|
j
|
3j
|
20000
|
20
|
-64700
|
ROUND ANSWER TO NEAREST WHOLE DOLLAR, I.E. 356.50 WOUDL BE 357 AND 356.40 WOULD BE 356.
3a)
3b)
3c)
3d)
3e)
3f)
3g)
3h)
3i)
3j)
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