Business, 20.09.2020 15:01 xojade

The market price of milk is $2.50 per gallon. The relationship between the farm's output and total costs is shown in the table below. Quantity (gallons per day dollars per day) 0 100 200 300 400 500 600
Total cost (dollars per day) 400 703 880 1,008 1,16 1,410 1,840
Total Variable (costs)
Average Variable (costs)
Average Total (costs)
Marginal (Costs)
A. Draw Petunia's average variable, average total, and marginal cost curves. (Hint: You need to calculate these first)
B. Use your graphs to find Petunia's profit-maximizing output.
C. If Petunia maximizes her profit, how much profit does she make?
D. What is Petunia's shutdown point? What is her economic profit at the shut-down point?

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 07:30

When the national economy goes from bad to better, market research shows changes in the sales at various types of restaurants. projected 2011 sales at quick-service restaurants are $164.8 billion, which was 3% better than in 2010. projected 2011 sales at full-service restaurants are $184.2 billion, which was 1.2% better than in 2010. how will the dollar growth in quick-service restaurants sales compared to the dollar growth for full-service places?

Answers: 2

Answer

Business, 22.06.2019 11:10

Use the following account numbers and corresponding account titles to answer the following question. account no. account title (1) cash (2) merchandise inventory (3) cost of goods sold (4) transportation-out (5) dividends (6) common stock (7) selling expense (8) loss on the sale of land (9) sales which accounts would appear on the income statement?

Answers: 3

Answer

Business, 22.06.2019 12:00

In the united states, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. in the united kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. the united kingdom has a comparative advantage in the production of:

Answers: 2

Answer

Business, 22.06.2019 18:00

Interpreting the income tax expense footnote the income tax footnote to the financial statements of fedex corporation follows. the components of the provision for income taxes for the years ended may 31 were as follows: ($ millions) 2010 2009 2008 current provision domestic federal $ 36 $ (35) $ 514 state and local 54 18 74 foreign 207 214 242 297 197 830 deferred provisions (benefit) domestic federal 408 327 31 state and local 15 48 (2) foreign (10) 7 32 413 382 61 provision for income taxes $ 710 $ 579 $ 891 (a)what is the amount of income tax expense reported in fedex's 2010, 2009, and 2008 income statements?

Answers: 2

Answer

You know the right answer?

The market price of milk is $2.50 per gallon. The relationship between the farm's output and total c...

Questions