Consider the following table of long-run total cost for four different firms: Quantity 2 3 5 Firm 1 $180 $350 $510 $660 $800 $930 $1,050 Firm 2 $120 $250 $390 $540 $700 $870 $1,050 Firm 3 $150 $300 $450 $600 $750 $900 $1,050 Firm 4 $210 $340 $490 $660 $850 $1,060 $1,290 Refer to Table 13-17. Which firm's long-run marginal cost decreases as output increases? a.. Firm 2 b. Firm 4 C. Firm 1 d. Firm 3

Given the data provided in the table below, what will the fixed costs equal for production at quantity (Q) level 4? QP TC TR MR MC Profit 0 $5 $9 1 $5 $10 2 $5 $12 3 $5 $15 4 $5 $19 5 $5 $24 6 $5 $30 7 $5 $45 $35.00 O $4.00 O $36.00 O $9.00 MacBook Air

The table below shows the monthly cost of producing vintage model cars for collectors for quantities 0, 100, 250, and 500. Instructions: Enter your answers as a whole number a. Complete the table by filling in the average fixed cost, average variable cost, and average total cost. Vintage Model Car Production Costs output  Total fixed Cost  Total variable Cost  total cost average fixed cost average variable  average total cost 0           $2,500                $0                           $2,500              -                          -                           - 100        2,500                700                         $3,200        -------               --------------                --------------- 250        2,500              $1,500                      $4,000        _____              ________                 __________ 500        2,500              $4,000                      $6,500        ______             ________                _________   b. Graph the average fixed cost,…

Plant sizes get larger as you move from ATC-1 to ATC-4. Output ATC-1 ATC-2 ATC-3 ATC-4 1,500 $ 10 15 $ 20 $ 30 2,000 8. 12 17 25 2,500 10 15 20 3,000 12 8. 13 18 3,500 15 6 11 16 4,000 4,500 18 10 9 14 20 12 7 12 5,000 24 15 11 10 5,500 6,000 29 19 13 8 35 25 15 Which plant sıze would produce at the least cost for the 3,000-4,000 range of output? Multiple Choice ATC-2 ATC 1 ATC-3 ATC-1

onsider the table below and assume the market price is $35 per unit. Totalproduct Totalfixed cost TotalVariablecost 0 150 0 1 150 50 2 150 75 3 150 112.4 4 150 150 5 150 200 6 150 270 7 150 360 8 150 475 9 150 620 10 150 800 Now assume there are 600 identical firms in this industry, that is, there are 600 firms, each of which has the same cost data as the single firm discussed above. Suppose, too, that the demand curve for this industry is as follows: Price Quantitydemanded $20 6,800 30 5,975 45 5,500 60 5,125 75 4,500 95 4,200 120 3,600 150 2,400 In equilibrium each firm will realize: Multiple Choice an economic profit of $155. a loss of $45. an economic profit of $35. a loss of $135.

The table below shows cost data for WipeOutSki Company which manufactures skis for beginners. If the company's fixed costs are $30, what is the marginal cost of five units of output? Variable Cost Fixed Cost Total Cost Average Variable Cost Average Total Cost Marginal Cost Quantity $30 1 $10 $30 $25 $30 $45 $30 $70 $30 $100 $30 B. $135 $30 O $45.00 O S30.00 O S25.00 2) 3. 4) 69

Total Total Cost Output 0. 1,000 2,000 2,800 3. 3,500 4,000 5. 4,500 5,200 7 6,000 8. 7,000 Refer to Table 5.1. Marginal cost (MC) is equal to average total cost (ATC) O between 3 and 4 units of output. O between 5 and 6 units of output. between 6 and 7 units of output. Obetween 7 and 8 units of output. 4. 00

a lobaster catch is sold by a fisher at $15 per kilogram the lobster fisher has the following total costs at each possible quantity $1500 at 0 kiklograms ,$3200 at 800 kilograms and $12200 at 1000 kilograms a) creat a table with following 10 coloumns :1 ) price 2) quantity 3) total revenue 4) fixed cost 5) variable cost 6) total cost 7) average fixed cost 8) average variable cost 9) average cost and 10) marginal cost .fill in this table based on the information provided in the question b) Draw the fishers marginal revenue ,marginal cost and average cost curves on graph ,plot only the two endpoints at 0 and 1000 kilograms for the marginal revenue curve and plot five points for each of the marginal cost and average cost curves for a total of 12 points (exclude the origin point for both costcurves) remember to plot marginal values such as marginal cost halfway between the two relevant quantities on the horizantal axis c) what is the fishers profit -maximizing or loss -mininmizing quantity…

The following is a table of the total cost (TC) of producing output Q for a particular firm. Based on this information, which of the following statements is correct? Q Y TC (X) 10 140 20 210 30 265 40 310 50 360 60 420 O a. The marginal cost is higher than the average cost at Q = 50. Ob. The marginal cost at Q80 is £9.50. Oc The average cost at Q-40 is £7. Od. The marginal cost curve intersects the average cost curve at Q = 60. 490 8 60 570 8 90 660 100 760

What is the profit maximization for apex firm if we have the following data  quantitiy /unit ={0,1,2,3,4,5,6,7,8,9,10} total variable cost =[0,100,180,220,300,390,500,640,800,1000,1250} 2. If the market price dropped to $80, what is the profit-maximizing level of output? What is Apex’s profit (or loss) in this case?3. If the market price dropped further to $40, what is the profit-maximizing level of output? What is Apex’s profit (or loss) in this case?4. Comment on your answers to parts (2) and (3)