answersprobs3 - Question 29. Profit: $2*100 210 = -10 ($10...

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Input Output AP MP FC VC TC AFC AVC AC MC 0 0 xxx xxx 90 0 90 xxx xxx xxx xxx 5 35 7.00 7 90 40 130 2.57 1.14 3.71 1.14 10 80 8.00 9 90 80 170 1.13 1.00 2.13 0.89 15 100 6.67 4 90 120 210 0.90 1.20 2.10 2.00 20 115 5.75 3 90 160 250 0.78 1.39 2.17 2.67 25 125 5.00 2 90 200 290 0.72 1.60 2.32 4.00 30 120 4.00 -1 90 240 330 0.75 2.00 2.75 xxx Stage 1 Stage 2 Stage 3 Question 27. If output price is $2.00, the profit-maximizing input level is 15 . Question 28,. MC=Py is the marginal principle.
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Unformatted text preview: Question 29. Profit: $2*100 210 = -10 ($10 loss) Question 30. Shutdown point is the minimum AVC. $1.00 price at output of 80 Question 31. Zero-profit point is the minimum AC $2.10 at output of 100. Question 33. Fill in the blank in the table with 35 Question 34. $3*100 + $5*300 = $1800 in VC...
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This note was uploaded on 11/15/2011 for the course AGEC 7100 taught by Professor Duffy,p during the Fall '08 term at Auburn University.

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