Over what range of production is the company making profits

Assignment Help Microeconomics
Reference no: EM131707949

Question: The market price for painting a house in Centerville is $10,000. The Total Cover-up House-Painting Company has fixed costs of $4,000 for ladders, brushes, and so on, and the company's variable costs for house painting follow this pattern

Output (houses painted)                           2      3     4     5     6    7     8    9     10

Variable cost (in thousands of dollars)         26    32    36   42   50   60   72   86   102

Calculate the company's total costs, and graph the revenue curve and the total cost curve. Do the curves have the shape you expect? Over what range of production is the company making profits?

Reference no: EM131707949

Questions Cloud

Determine the displacement at the free end : Determine the displacement at the free end of the bar using Miss element with 2 nodes and how the variation of displacement and stress along the member
Discuss graphic violence in television content : in addition to graphic violence in television content, may contribute to childhood aggression
Who was most influential in shaping your political beliefs : Who was most influential in shaping your political beliefs? Do you have a lot of confidence in the ethics of privately owned businesses?
Define economic and ethnic manifestations of urban blight : What are some economic and ethnic manifestations of urban blight, What are organic compounds, and why are they important to living organisms
Over what range of production is the company making profits : Calculate the company's total costs, and graph the revenue curve and the total cost curve. Do the curves have the shape you expect?
How does the frame of the job influence roles you perform : How does the frame of the job influence the roles you perform? And can anything be done to shape the frame of the job to make you more effective as a manager?
Why are membranes impermeable to most substances : Why are membranes impermeable to most substances? How do proteins function to make membranes selectively permeable
Describe the relationship between fatty acid chain length : Describe the relationship between fatty acid chain length, saturation, and the melting point or fluidity of fatty acids
Define the whereabouts of the original : To prove the contracts terms, the Piper offers a photocopy of the contract into evidence, without explaining the whereabouts of the original

Reviews

Write a Review

Microeconomics Questions & Answers

  Find the expected return for overall stock market round the

assume that the risk-free rate is 3.5 and the market risk premium is 5. what is the expected return for the overall

  Example of how government has overstepped biblical principle

You will write a 2-3-page paper (double-spaced, 1-inch margins) providing at least 1 example of how government has overstepped biblical principles in some form of economic policy.

  Determine velocity of the cart before you applied the force

A loaded grocery cart of mass 5.25kg is rolling across a parking lot in a strong wind.you apply a force F=(30N)i-(40N)j to bring it to rest after a displacement s=(-9.0m)i-(3.0)j. Determine the velocity of the cart before you applied the force.

  The amount consumers spend on health care

One way to reduce the amount consumers spend on health care is to raise the price of health care by increasing the health insurance copayment

  How will nancys wage increase be expressed in new contract

Nancy's union has negotiated a three-year wage contract that provides for a 2.4% increase indexed to inflation. The rates of inflation are forecast to be 1.62%, 1.93% and 2.21% respectively. How will Nancy's wage increase be expressed in the new c..

  Why even higher support prices would not help honey farmer

The MidNight Hour, a local nightclub, earned $100,000 in accounting profit last year. This year the owner, who had invested $1 million in the club, decided to close the club. What can you say about economic profit (and the rate of return) in the n..

  Predict the potential effects that government policies

Outline a plan that managers in the low-calorie, frozen microwaveable food company could follow in anticipation of raising prices when selecting pricing strategies for making their products response to a change in price less elastic.

  Find the the new consumer price after the imposition of tax

Further consider a tax of 5 per unit of output and a new supply function: The new consumer price after the imposition of tax is

  Keynesian expenditures model and the multiplier

Presume that the Japanese economy is in equilibrium according to the Keynesian expenditure model. Now presume that the Tokyo Stock Exchange (as gauged by the Nikkei 225 index) experiences a 22 percent increase in value in the next three months. Descr..

  What is the quantity of real money balances demanded

Suppose we start with the money demand function given in problem (3).  Furthermore, assume real output is initially at 1000 and the nominal interest rate is 3%. What is the quantity of real money balances demanded

  What economic criterion is violated

In accordance with the dual-control approach, sup- pose New Mexico's NOX abatement standard for existing sources is 5 units (AE) and the EPA's stan- dard for new sources is 12 units (AN).

  What are the prospects for an out-of-court settlement

Suppose the damages are $200,000 and each side sees its winning chance at 60 percent. What are the prospects for an out-of-court settlement?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd