1009080Profit or Loss7060ATC20MCAVC10102030405060708090100QUANTITY (Thousands of watches per day)In the short run, at a market price of $45 per watch, this firm will choose to produce▼ watches per day.On the preceding graph, use the blue rectangle (circle symbols) to shade the area representing the firm's profit or loss if the market price is $45 andthe firm chooses to produce the quantity you already selected.Note: In the following question, enter a positive number, even if it represents a loss.The area of this rectangle indicates that the firm'swould be $thousand per day in the short run.PRICE (Dollars per watch) 4. Profit maximization in the cost-curve diagramSuppose that the market for sports watches is a competitive market. The following graph shows the daily cost curves of a firm operating in thismarket.Hint: After placing the rectangle on the graph, you can select an endpoint to see the coordinates of that point.(?)1009080Profit or Loss70605040ATC3020MCAVC10102030405060708090100QUANTITY (Thousands of watches per day)In the short run, at a market price of $45 per watch, this firm will choose to producewatches per day.On the preceding graph, use the blue rectangle (circle symbals) to shade the area representing the firm's profit or loss if the market price is $45 andPRICE (Dollars per watch)

In the short run at the market price $45/watch then the firm will choose to produce 45 unit of…

100 90 80 Profit or Loss 70 60 50 40 АТС 20 MC AVC 10 10 20 30 40 50 60 70 80 90 100 QUANTITY (Thousands of watches per day) In the short run, at a market price of $45 per watch, this firm will choose to produce ▼ watches per day. On the preceding graph, use the blue rectangle (circle symbols) to shade the area representing the firm's profit or loss if the market price is $45 an the firm chooses to produce the quantity you already selected. Note: In the following question, enter a positive number, even if it represents a loss PRICE (Dollars per watch)

100 90 80 Profit or Loss 70 60 50 40 АТС 20 MC AVC 10 10 20 30 40 50 60 70 80 90 100 QUANTITY (Thousands of watches per day) In the short run, at a market price of $45 per watch, this firm will choose to produce ▼ watches per day. On the preceding graph, use the blue rectangle (circle symbols) to shade the area representing the firm's profit or loss if the market price is $45 an the firm chooses to produce the quantity you already selected. Note: In the following question, enter a positive number, even if it represents a loss PRICE (Dollars per watch)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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TOTAL COST AND REVENUE (Dollars) 100 Total Cost ם Total Revenue 75 50 -25 A 50 0 1 2 5 QUANTITY (Shirts) A A Profit Calculate Neha's marginal revenue and marginal cost for the first seven shirts she produces and plot them on the following graph. Use the blue points (circle symbol) to plot marginal revenue and the orange points (square symbol) to plot marginal cost. (?) COSTS AND REVENUE (Dollars per shirt) 30 25 225 20 15 10 о OO 2 3 A 5 6 QUANTITY (Shirts) Marginal Revenue + Marginal Cost Neha's profit is maximized when she produces 10 shirts. When she does this, the marginal cost of the previous shirt she produces is $ which is than the price Neha receives for each shirt she sells. The marginal cost of producing an additional shirt (that is, one more shirt than would maximize her profit) is S than the price Neha receives for each shirt she sells. Therefore, Neha's profit- maximizing quantity corresponds to the intersection of the which is curves. Because Neha is a price taker, this…
explain what is happening in this graphs
Confused on what to do for the graphs
On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $50, $75, $100, $125, $150, $175, and $200 per scooter. TOTAL REVENUE (Dollars) 2610 2430 2250 2070 1890 1710 1530 1350 1170 990 Δ ΔΔ Δ 0 25 50 75 100 125 150 175 200 225 250 275 300 325 PRICE (Dollars per scooter) Total Revenue ? According to the midpoint method, the price elasticity of demand between points A and B is approximately 0.69 ▼ Suppose the price of scooters is currently $125 per scooter, shown as point A on the initial graph. Because the demand between points A and B is inelastic , a $25-per-scooter decrease in price will lead to a decrease in total revenue per week.
On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per scooter. TOTAL REVENUE (Dollars) 1460 1320 1180 1040 900 760 620 480 340 200 0 15 30 45 60 75 90 105 120 135 150 165 180 195 PRICE (Dollars per scooter) Total Revenue ?
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2. The following table depicted a computer manufacturer's total cost of producing computer: Quantity Price 500,000 1 540,000 2 560,000 3 570,000 590,000 620,000 6 660,000 7 720,000 8 800,000 920,000 10 1,100,000 d)On one diagram, draw the manufacturer's AVC, ATC, and MC curves.
Complete the table below: Output TotalCost(RM) Totalvariablecost(RM) Totalfixedcost(RM)Averagefixedcost(RM)Averagetotalcost(RM)Marginalcost (RM) 0 505 16010 20020 25036 33058 40072 48088 580106 700130 820150 980