Microeconomics For Today (MindTap Course List)
Microeconomics For Today (MindTap Course List)
9th Edition
ISBN: 9781305507111
Author: Irvin B. Tucker
Publisher: Cengage Learning
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Chapter 7, Problem 13SQ
To determine

Calculate the total cost of producing 100 units.

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The total cost equation for producing X widgets is given by TC = $1,000 + $6X. The marginal cost per widget at a production level of 300 units is closest to which of the following? a. $2,800  b. $6  c. $8  d. $4,000.
Adam operates a factory that produces beach towels. His current level of output equals 2000 towels per week. His weekly variable cost equals $12 000. If the total cost each week equals $13 500, what can you conclude about the fixed costs of production? The total cost equals $25 500. The total fixed cost equals $12.75 per towel. The average fixed cost equals 75 cents per towel. The average fixed cost equals $1500,
Joanne sells silk screened T-shirts at community festivals and craft fairs. Her marginal cost to produce one T-shirt is $3.50. Her total cost to produce 70 T-shirts is $305, and she sells them for $7 each a. Find the linear cost function for Joanne's T-shirt production b. How many T-shirts must she produce and sell in order to break even? c. How many T-shirts must she produce and sell to make a profit of $700? a. The linear cost function is C(x)= b. Joanne must produce and sell c. Joanine must produce and sell T-shirts in order to break even, because the number of T-shirts must be a whole number T-shirts to make a profit of $700, because the number of T-shirts must be a whole number
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