Pearson eText Economics -- Instant Access (Pearson+)
13th Edition
ISBN: 9780136879459
Author: Michael Parkin
Publisher: PEARSON+
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Chapter 10, Problem 21APA
To determine
The reason for differencesin countries chosen for designing and manufacturing a product.
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QUESTION 9
John lives in the small island nation of Vanuatu, and is a producer in the perfectly competitive market for galip nuts. A summary of some
of his costs, which are given in the local currency (the "vatu"), is shown below.
Quantity (kg of galip nuts)
0
30
60
90
120
150
Total Fixed Cost TFC (vatu)
5600
5600
5600
5600
5600
5600
Total Variable Cost TVC (vatu)
0
640
1520
2640
4800
9120
If John's profit-maximising quantity is 90kg of galip nuts, what is the marginal revenue per kilogram of galip nuts at this profit maximising
quantity? Answer to the nearest whole number.
Independent University, Bangladesh
ECN-201: Principles of Microeconomics
Spring 2021
Final Assignment
1. Use the table below to answer the following questions:
Costs
Total Cost Marginal
Cost
Revenues
Price ($)
Quantity
Produced
Marginal
Revenue
Total
Quantity
Demanded
Revenue
170
160
150
140
100
140
184
2
3
3
230
280
4
5
4
5
130
120
110
100
95
335
395
6
7
8
7
475
8
575
a. Find the average fixed cost and average variable cost for the 4" unit of output.
b. How much does profit change if 6 units are sold instead of 5?
B. The following table shows the quantity of leather purses, total cost, total revenue andmarginal revenue for a Caribbean manufacturer of leather products.Quantity of purses Total cost Total Revenue Marginal revenue Average revenue Average cost Marginal cost 0 8 0 - 1 9 8 8 2 10 16 8 3 11 24 8 4 13 32 8 5 19 40 8 6 27 48 8 7 37 56 8 Table 2.Copy the table to your booklet and complete it to show, the average revenue, average cost…
Chapter 10 Solutions
Pearson eText Economics -- Instant Access (Pearson+)
Ch. 10.1 - Prob. 1RQCh. 10.1 - Prob. 2RQCh. 10.1 - Prob. 3RQCh. 10.1 - Prob. 4RQCh. 10.1 - Prob. 5RQCh. 10.2 - Prob. 1RQCh. 10.2 - Prob. 2RQCh. 10.2 - Prob. 3RQCh. 10.2 - Prob. 4RQCh. 10.3 - Prob. 1RQ
Ch. 10.3 - Prob. 2RQCh. 10.3 - Prob. 3RQCh. 10.4 - Prob. 1RQCh. 10.4 - Prob. 2RQCh. 10.4 - Prob. 3RQCh. 10.4 - Prob. 4RQCh. 10.5 - Prob. 1RQCh. 10.5 - Prob. 2RQCh. 10.5 - Prob. 3RQCh. 10 - Prob. 1SPACh. 10 - Prob. 2SPACh. 10 - Prob. 3SPACh. 10 - Prob. 4SPACh. 10 - Prob. 5SPACh. 10 - Prob. 6SPACh. 10 - Prob. 7SPACh. 10 - Prob. 8APACh. 10 - Prob. 9APACh. 10 - Prob. 10APACh. 10 - Prob. 11APACh. 10 - Prob. 12APACh. 10 - Prob. 13APACh. 10 - Technological and Economic Efficiency Use the...Ch. 10 - Prob. 15APACh. 10 - Prob. 16APACh. 10 - Prob. 17APACh. 10 - Prob. 18APACh. 10 - Prob. 19APACh. 10 - Prob. 20APACh. 10 - Prob. 21APACh. 10 - Prob. 22APACh. 10 - Prob. 23APA
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