1. Marcel's Bakery makes authentic French baguettes in a perfectly competitive market. There are 30 identical...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image](https://dsd5zvtm8ll6.cloudfront.net/questions/2024/02/65ce285cf1aca_56465ce285cecc75.jpg)
Transcribed Image Text:
1. Marcel's Bakery makes authentic French baguettes in a perfectly competitive market. There are 30 identical companies in his region. 0 10 20 30 40 50 60 ii. iii. ATC iv. 4 3.2 2.3 2.4 2.7 3 TC TR VC a. The current market price for one baguette is 3.30. All companies have fixed costs of 30 and average total costs (ATC) as given in the table above. i. Compute the total revenue (TR), the marginal cost (MC) and the average variable cost (AVC) and fill those in the table above. [3 points] Calculating total cost (TC) and variable cost (VC) may be necessary. How many baguettes should Marcel's Bakery produce at the given price in order to maximize its profit? [2 points] Number of baguettes produced = MC AVC How much total profit does Marcel's Bakery make? [2 points] Total Profit= What is the total quantity supplied in the whole market? [1 point] Total quantity supplied = 1. Marcel's Bakery makes authentic French baguettes in a perfectly competitive market. There are 30 identical companies in his region. 0 10 20 30 40 50 60 ii. iii. ATC iv. 4 3.2 2.3 2.4 2.7 3 TC TR VC a. The current market price for one baguette is 3.30. All companies have fixed costs of 30 and average total costs (ATC) as given in the table above. i. Compute the total revenue (TR), the marginal cost (MC) and the average variable cost (AVC) and fill those in the table above. [3 points] Calculating total cost (TC) and variable cost (VC) may be necessary. How many baguettes should Marcel's Bakery produce at the given price in order to maximize its profit? [2 points] Number of baguettes produced = MC AVC How much total profit does Marcel's Bakery make? [2 points] Total Profit= What is the total quantity supplied in the whole market? [1 point] Total quantity supplied =
Expert Answer:
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these economics questions
-
Robotic process automation, or RPA, significantly alters the accounting and auditing industries. For example, it enhanced efficiency, tata input, reconciliation, and report production are just a few...
-
123 Compare the purely graphical properties of these two notations, and the ways in which the graphical properties of each display correspond to the information structure being defined. Describe...
-
Lauren is a the top of a 15 m lookout tower. From an angle depression of 25 degrees, she sees Evan coming toward her. How far is Evan from the base of the tower?
-
paraphrase the following two passages using narrative in-text citations: 1.Those who teach ethics don't need to look far for lessons. Every day there's fresh scandal: Google is in hot water for how...
-
The current charge for dumping waste in a local landfill is $16 per cubic foot. To cover new environmental costs, the charge will increase to $33 per cubic foot. Find the percent increase.
-
A girl is skipping stones across a lake. One of the stones accidentally ricochets off a toy boat that is initially at rest in the water (see the drawing). The 0.072-kg stone strikes the boat at a...
-
What is the probability of drawing 4 tiles in the pattern vowel-consonant-vowel-consonant, in order? You are about to draw Scrabble tiles from a bag without replacement; the bag contains the letters...
-
Panoramic Inc. had a beginning balance of $2,000 in its Accounts Receivable account. The ending balance of Accounts Receivable was $2,400. During the period, Panoramic recognized $40,000 of revenue...
-
Snow Day Homework elike terms to simplify the polynomial. 4x^(2)-3x+2x^(2)-5+9x-18
-
You have recently started work as a management accountant at Zilber Hotels, reporting to the financial controller. Draft management accounts have been prepared for the year just finished, and the...
-
4.C6 The derrick shown supports a 2000-kg crate. It is held by a ball-and- socket joint at A and by two cables attached at D and E. Knowing that the derrick stands in a vertical plane forming an...
-
1. The watershed covers N00 ha in Rede County, Ohiowa State. Sixty percent is a hydrologic soil group A. Forty percent is of group B soil. The event is a 25-year frequency, 24-hour storm with total...
-
It is required to design a disk cam with a flat-faced follower. The follower is to rise a height of 60 mm in 140, followed by a dwell for 60, a fall over 120 and finally a dwell at datum for the...
-
2. Assume register x4 is 0x00000FF0 and register x16 is 0x090A0BOC before the execution of the following instruction. A transient fault causes MemWrite to be 1 when the single-cycle processor...
-
As shown below, beam AB is fixed at two ends. If the left end rotates by a small angle 8 due to assembly error, determine the support reactions M, F, M, and FB. F A A A To 1 B FB MB
-
Prove that, the area of the traverse is equal to the algebraic sum of the products of the total latitude of each point and algebraic sum of the departures of the lines meeting at that point.
-
QUICK PLEASE WILL RATE !??????? Suppose the current, zero-coupon, yield curve for risk-free bonds is as follows: a. What is the price per \( \$ 100 \) face value of a 3-year, zero-coupon risk-free...
-
What is the role of business risk analysis in the audit planning process?
-
Karim Depak received a Form 1099-B showing the following stock transactions and basis during 2012: None of the stock is qualified small business stock. Calculate Karim's net capital gain or loss...
-
Yolanda earns $112,000 in 2012. Calculate the FICA tax that must be paid by: Yolanda:.....................Soc.Sec..................$__________...
-
Mike purchases a heavy-duty truck (5-year class recovery property) for his delivery service on April 30, 2012. The truck is not considered a passenger automobile for purposes of the listed property...
-
Barrila Enterprises uses a word processing computer to handle its sales invoices. Lately, business has been so good that it takes an extra 3 hours per night, plus ever} third Saturday, to keep up...
-
Andrea Valencia recently opened her own basket weaving studio. She sells finished baskets in addition to the raw materials needed by customers to weave baskets of their own. Andrea has put together a...
-
Baer Inc. has been manufacturing its own shades for its table lamps. The company is currently operating at 100% of capacity, and variable manufacturing overhead is charged to production at the rate...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App