Answered step by step
Verified Expert Solution
Question
1 Approved Answer
SC 100 90 $11,800 7300 81.11 131.11 50 210 4. Given the information you computed in Table 2, what is the minimum cost output
SC 100 90 $11,800 7300 81.11 131.11 50 210 4. Given the information you computed in Table 2, what is the minimum cost output level? Explain why (Enter your response here.) 5. Brenda Smith operates her own farm raising chickens and producing eggs. She sells her eggs at the local farmers market, where there are several other egg producers also selling eggs by the dozen. (Brenda operates in a perfectly competitive market in which she is a "price taker") To make sure she does not lose money on selling eggs, she does an analysis of her com for producing eggs as shown on Table 3. (Enter your response here) *D 80 73 ZP 14 26 92 00 8 bill 17 16 C 74 4 Table 2 Cases of Total Cost Variable Average Average LED light Costs Variable Total Costs Average Fixed Cost Marginal Costs e. bulbs produced in an hour Costs c. a. b. d. 0 $4,500 n/a n/a n/a n/a 0 10 $4,900 20 20 400 $5,100 600 30 $5,300 40 40 490 4500 40 30 30 255 450 20 800 26.67 176.67 225 20 40 $5,400 900 22.5 35 135 150 10 50 $5,700 1200 24 114 112.50 30 60 $6,700 2200 36.67 111.67 90 100
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started