Calculate this manufacturer marginal cost

Assignment Help Business Economics

Reference no: EM131166369

The accompanying table shows a car manufacturer’s total cost of producing cars. Quantity of cars Total Cost 0 $500,000 1 $540,000 2 $560,000 3 $570,000 4 $590,000 5 $620,000 6 $660,000 7 $720,000 8 $800,000 9 $920,000 10 $1,100,000 a. What is this manufacturer’s fixed cost? b. For each level of output except zero output, calculate this manufacturer’s marginal cost (MC). c. For each level of output except zero output, calculate the variable cost (VC). d. For each level of output except zero output, calculate the average variable cost (AVC), e. For each level of output, calculate the average total cost (ATC),

Reference no: EM131166369

Questions Cloud

Suppose the american economy is in long-run equilibrium : Suppose the American economy is in long-run equilibrium. Now assume that the Fed decides to sell government bonds to the public. What is the effect on the money supply? Use the diagram of market for money to show how the Fed’s action affects the fede..

You will consume some bundle on the budget line : Suppose at a bundle (c, d) in the interior of the choice set, your MU for each good is zero. you are rational. You will consume some bundle on the budget line. Tim Finnegan decided to drink whiskey for the first time in his life, while sitting on top..

What does it mean to begin to think like economic naturalist : What does it mean to begin to think like an economic naturalist? Now that you are becoming an economic naturalist from this point on,, discuss the key variables economists use to view their world and tell what each one represents? According to the au..

Demand for homogeneous-product stackelberg duopoly : The inverse demand for a homogeneous-product Stackelberg duopoly is P = 12,000 -5Q. The cost structures for the leader and the follower, respectively, are CL(QL) = 3,000QL and CF (QF) = 6,000QF.. Determine the equilibrium output level for both the le..

Calculate this manufacturer marginal cost : The accompanying table shows a car manufacturer’s total cost of producing cars. Quantity of cars Total Cost 0 $500,000 1 $540,000 2 $560,000 3 $570,000 4 $590,000 5 $620,000 6 $660,000 7 $720,000 8 $800,000 9 $920,000 10 $1,100,000. calculate this ma..

Every society faces-trade-offs : Every society faces? trade-offs because we live in a world of scarcity. Suppose a? student-athlete has the opportunity to earn ?$200 comma 000200,000 next year playing for a minor league baseball? team, ?$100 comma 000100,000 next year playing for a ..

Should the farmer increase or decrease price of cabbages : The quantity q of cabbages sold by a farmer at a farmer's market depends on price p in dollars. The variables q and p are related by the equation q^2+2p^2+5xy=2000. Find the elasticity of demand when p=3. Interpret your answer. Is demand elastic, ine..

Determine the optimal combination of medical : The Wellness Center is an organization providing help to distressed students on campus during the two weeks exam period at the end of every semester. You’ve been hired as a business consultant to help the Center develop a hiring policy so that it can..

What is the effect on the firm demand for labor : Suppose that the firm suffers a loss of some of their technology such as the theft of their industrial mixers. After the theft, MadeFromScratch employees produce fewer cupcakes than they could before because they must mix the cupcake batter by hand r..

User Account

All Pages