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#### 1)Complete the following table:                      Total      Marginal        Average              Average Output         Cost           Cost          Total Cost         Variable Cost 0                   \$100                                                               5                     110                                                            10                   130                                                            15                   170                                                         20                   220                                                         25                   290                                                         30                   380                                                       35                   490                                                       According to the table above, ( a ) If the price is \$8, how much output will the firm supply? ( b ) How much profit or loss will it make? ( c ) At what price will the firm shut down?   2) A firm has leased plant and equipment to produce video game cartridges, which can be sold in unlimited quantities at \$21 each

###### Finance

1)Complete the following table:

Total      Marginal        Average              Average

Output         Cost           Cost          Total Cost         Variable Cost

0                   \$100

5                     110

10                   130

15                   170

20                   220

25                   290

30                   380

35                   490

According to the table above,

( a ) If the price is \$8, how much output will the firm supply?

( b ) How much profit or loss will it make?

( c ) At what price will the firm shut down?

2) A firm has leased plant and equipment to produce video game cartridges, which can be sold in

unlimited quantities at \$21 each. The following figures describe the associated costs of production:

Rate of output (per day) 0 1 2 3 4 5 6 7 8

Total cost (per day) \$50 \$55 \$62 \$75 \$96 \$125 \$162 \$203 \$248

( a ) How much are fixed costs?

( b ) Draw total revenue and cost curves on the graphs here.

( c ) Draw the average total cost (ATC), marginal cost (MC), and demand curves of the firm. ATC is:

( d ) What is the profit-maximizing rate of output?

( e ) Should the producer stay in business?

( f ) What is the size of the loss if production continues?

( g ) How much is lost if the firm shuts down?

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### Option 2

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