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- If a higher level of production allows workers tospecialize in particular tasks, a firm will likelyexhibit _________ of scale and _________ averagetotal cost.a. economies; fallingb. economies; risingc. diseconomies; fallingd. diseconomies; risingGivenMonthly rent25,000Monthly Salary/employee10,000Market price of slippers520Total units sold20,000 Solve for the followingTotal RevenueTotal CostProfit/Loss (indicate if its a profit or loss)Table 13-7The Flying Elvis Copter Rides Quantity TotalCost FixedCost VariableCost MarginalCost AverageFixedCost AverageVariableCost AverageTotalCost 0 $50 $50 $0 -- -- -- -- 1 $150 A B C D E F 2 G H I $120 J K L 3 M N O P Q $120 R Refer to Table 13-7. Fill in ALL THE VALUES FROM A to R in the table.
- The manager of the donut shop tells you that hesells donuts for $1 each, and that if he were to makeadditional donuts, based on his current level ofoutput, it would cost him $0.80 per donut. Do yourecommend that the manager increase or decreasethe number of donuts he makes?Complete the table below: Output TotalCost(RM) Totalvariablecost(RM) Totalfixedcost(RM)Averagefixedcost(RM)Averagetotalcost(RM)Marginalcost (RM) 0 505 16010 20020 25036 33058 40072 48088 580106 700130 820150 980A firm produces two different kinds, A and B, of a commodity. The daily cost of producingx units of A and y units of B isC(x, y) = 2x2 − 4xy + 4y2 − 40x − 20y + 514Suppose that the firm sells all its output at a price per unit of $24 for A and $12 for B. Findthe daily production levels x and y that maximize profit. (Be sure to show your first andsecond order conditions.)
- Consider the following cost information for a pizzeria:Quantity Total Cost Variable Cost0 dozen pizzas $300 $0I 350 502 390 903 420 1204 450 1505 490 1906 540 240a. What is the pizzeria's fixed cost?b. Construct a table in which you calculatethe marginal cost per dozen pizzas using theinformation on total cost. Also, calculate themarginal cost per dozen pizzas using the inforpmation on variable cost. What is the relationshipbetween these sets of numbers? Explain.Consider the following cost information for apizzeria:Quantity Total Cost Variable Cost0 dozen pizzas $300 $ 01 350 502 390 903 420 1204 450 1505 490 1906 540 240a. What is the pizzeria’s fixed cost?b. Construct a table in which you calculate themarginal cost per dozen pizzas using theinformation on total cost. Also, calculate themarginal cost per dozen pizzas using theinformation on variable cost. What is therelationship between these sets of numbers?Explain.Your cousin Vinnie owns a painting company withfixed costs of S200 and the following schedule forvariable costs:Quan tityof H()usesPaintedper MonthVarialilleCosts2 3 4 5 6 7$10 $20 $40 $80 $160 $320 $640Calculate average fixed cost.. average variable cost,and average total cost for each quantity. What is theefficient scalo of the painting company?
- Please complete the below table. Output TotalFixed Cost TotalVariable TotalCost AverageFixed AverageVariable AverageTotal cost MarginalCost 0 20 1 10 2 6 3 24 4 13.5 5 66 6 14 7 76 8 114Table: Spring Water Quantity(Cases) Price TotalRevenue MarginalRevenue MarginalCost AverageTotalCost Total Cost 0 $16 $0 $25 $15 $10 1 $15 $15 35.00 $35 $13 $6 2 $14 $28 20.50 $41 $11 $4 3 $13 $39 15.00 $45 $9 $2 4 $12 $48 11.75 $47 $7 $3 5 $11 $55 10.00 $50 $5 $3 6 $10 $60 8.83 $53 $3 $5 7 $9 $63 8.29 $58 $1 $9 8 $8 $64 8.38 $67 Reference: Ref 15-12 Table: Spring Water Table: Spring Water. The table shows the demand and cost data for a firm in a monopolistically competitive industry producing drinking water from underground springs. The profit-maximizing output is _____ cases. Select one: a. 7 b. 5 c. 6 d. 8Graph the ATC and MC below and explain output ATC MC 0 - 10 10 18 2 20 10 1 30 7 0.5 40 5.375 1.5 50 4.6 2 60 4.166667 2.5 70 3.928571 3.3 80 3.85 3.2 90 3.777778 5 100 3.9 9 110 4.363636 10 120 4.833333