Reference no: EM13205795
Consider the following table of costs for the Winsome Widget Factory, which operates in a perfectly competitive market. The market price faced by this firm is $6.00 per widget.
a. Fill in the formula for AFC, AVC, ATC, MC, TR, MR, and Total Profit at the top of the column in the gray section within the table.
b. Fill in the missing values for TFC, TVC, AFC, AVC, ATC, MC, TR, MR, and Total Profit in the blue sections of the table. Winsome Widget Factory Output Total Fixed Cost Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost Total Revenue Marginal Revenue Total Profit 0 $100 10 150 20 180 30 200 40 240 50 300 60 375 70 475 80 600 90 750 100 1,000
c. Determine the profit maximizing level of output. Explain how you arrived at that conclusion.
d. What is the total profit at the profit maximizing level of output? How does that compare to profit at other levels of output?
e. What is the lowest price that Winsome Widgets will accept and continue to produce in the short run? Explain.
|
State a mutation in human atpase
: A mutation in human ATPase 6 (which corresponds to E. coli subunit a) from leucine to arginine at position 156 may allow the movement of protons across the membrane, but not the rotation of the ring of c subunits.
|
|
Which goods the government would prefer to tax
: Using the elasticity estimates in the table above, classify the price elasticity demand as elastic or inelastic. Explain your reasoning. Explain the implications of those classifications on tax revenue collections when the per-unit tax increases a..
|
|
Explain equations for the hydrolysis of ticl4
: Write equations for (a) the hydrolysis of TiCl4 and (b) the neutralization of Ba(OH)2
|
|
Explain high nadh concentration
: Determine whether each of the following causes an increase or decrease in the activity of the electron transport chain. 1. High NADH concentration
|
|
How does that compare to profit at other levels of output
: Fill in the missing values for TFC, TVC, AFC, AVC, ATC, MC, TR, MR, and Total Profit in the blue sections of the table. Winsome Widget Factory Output Total Fixed Cost Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average ..
|
|
State the combustion of how many moles of ethane
: the combustion of how many moles of ethane would be required to heat
|
|
Depict the stereochemistry of the products
: Show the stereochemistry of the products you would expect when (2S,3S)-2,3-epoxypentane undergoes acid catalyzed hydrolosis.
|
|
Why does pose a significant problem for maintaining tiger
: Most wild Asian tigers are the common property of the humans and governments that control the lands they inhabit. Why does this pose a significant problem for maintaining the wild tiger population in the future.
|
|
Whats wrong with using payback period
: How can options sell for more than their exercise value and whats wrong with using payback period? What should we use instead? Why?
|