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Scott, MIT Graduate
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Experience:  MIT Graduate (Math, Programming, Science, and Music)
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How long would it take for the price level to double

Customer Question

- How long would it take for the price level to double if inflation persisted at (a) 2%, (b) 5%, and (c) 10% per year?
a) 70/2=35 years
b) 70/5=14 years
c) 70/10=7 years

Ch. 20-2. Key Question Graph the accompanying demand data, and
then use the midpoint formula for Ed to determine price

Price Product : 5,4,3,2,1,              QuantityDemanded:1,2,3,4,5,
Ch.22-7- Key Question A firm has fixed costs of $60 and variable costs as indicated in the table on the following page.Complete the table and check your calculations by referring to question 4 at the end of Chapter 23.
a.     Graph total fixed cost, total variable cost, and total cost. Explain how the law of diminishing returns influences the shapes of the variable-cost and total-cost curves.

b. Graph AFC, AVC, ATC, and MC. Explain the derivation and shape of each of these four curves and their
relationships to one another. Specifically, explain in nontechnical terms why the MC curve intersects both
the AVC and the ATC
Submitted: 5 years ago.
Category: Homework
Expert:  Amol srivastava replied 5 years ago.
Please complete the question. It talks about some table.
Customer: replied 5 years ago.

Question Graph the accompanying demand data, and

then use the midpoint formula for Ed to determine price

Price Product : 5,4,3,2,1, Quantity Demanded:1,2,3,4,5,

Expert:  Amol srivastava replied 5 years ago.
Ch.22-7 part a talks about a table. I need that.
Customer: replied 5 years ago.

Total Average Average Average Marginal

Product Fixed Cost Variable Cost Total Cost Cost

0

$45

1 $60.00 $45.00 $105.00

40

2 30.00 42.50 72.50

35

3 20.00 40.00 60.00

30

4 15.00 37.50 52.50

35

5 12.00 37.00 49.00

40

6 10.00 37.50 47.50

45

7 8.57 38.57 47.14

55

8 7.50 40.63 48.13

65

9 6.67 43.33 50.00

75

10 6.00 46.50 52.50

a. At a product price of $56, will this firm produce in

the short run? Why or why not? If it is preferable to

produce, what will be the profit-maximizing or lossminimizing

output? Explain. What economic profit or

loss will the firm realize per unit of output?

b. Answer the relevant questions of 4a assuming product

price is $41.

c. Answer the relevant questions of 4a assuming product

price is $32.

d. In the table below, complete the short-run supply

schedule for the firm (columns 1 and 2) and indicate

the profit or loss incurred at each output (column 3).

(2) (4)

Quantity (3) Quantity

(1) Supplied, Profit (
) Supplied,

Price Single Firm or Loss () 1500 Firms

$26 $

32

38

41

46

56

66

Customer: replied 5 years ago.

E 3-6

Firm D has net income of 27,900 sales of 930,000, and average total assets of 465,000. Calculate firms margin turnover and ROI.

Firm E has net income of 75,000 sales of 1,250,000 and ROI 15%. Calculate turnover and average total assets.

Firm F has 12.6% ROI, total assets of 1,730,159 and turnover of 1.4. Calculate firms sales, margin and net income.

Customer: replied 5 years ago.

Total Average Average Average Marginal

Product Fixed Cost Variable Cost Total Cost Cost

0

$45

1 $60.00 $45.00 $105.00

40

2 30.00 42.50 72.50

35

3 20.00 40.00 60.00

30

4 15.00 37.50 52.50

35

5 12.00 37.00 49.00

40

6 10.00 37.50 47.50

45

7 8.57 38.57 47.14

55

8 7.50 40.63 48.13

65

9 6.67 43.33 50.00

75

10 6.00 46.50 52.50

Customer: replied 5 years ago.

Total

Product

Average

Fixed Cost

Average

Variable

cost

Average marginal

total

Cost Cost

0

$45

1

$60.00

$45.00

$105.00

40

2

30.00

42.50

72.50

35

3

20.00

40.00

60.00

30

4

15.00

37.50

52.50

35

5

12.00

37.00

49.00

40

6

10.00

37.50

47.50

45

7

8.57

38.57

47.14

55

8

7.50

40.63

48.13

65

9

6.67

43.33

50.00

75

10

6.00

46.50

52.50

Customer: replied 5 years ago.

Total

Product

Average

Fixed Cost

Average

Variable

cost

Average

total

Cost

marginal

Cost

0

$45

1

$60.00

$45.00

$105.00

40

2

30.00

42.50

72.50

35

3

20.00

40.00

60.00

30

4

15.00

37.50

52.50

35

5

12.00

37.00

49.00

40

6

10.00

37.50

47.50

45

7

8.57

38.57

47.14

55

8

7.50

40.63

48.13

65

9

6.67

43.33

50.00

75

10

6.00

46.50

52.50

 

Customer: replied 5 years ago.

I hope that is the table, let me know please.

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