Microeconomics
Microeconomics
2nd Edition
ISBN: 9781259813337
Author: KARLAN, Dean S., Morduch, Jonathan
Publisher: Mcgraw-hill Education,
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Chapter 1, Problem 4PA
To determine

To find the number of units of sweater that the person would sell.

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Sweaters sell for $19 at the crafts fair. Allie knits sweaters and her marginal costs are given in the table below. Allie's marginal costs increase with each additional sweater. If Allie is behaving rationally, how many sweaters will she sel? Marginal Cost ($) Sweater 2nd Sweater 11 ard Sweater 15 th Sweater 21 sth Sweater 28 eth sweater 35 Allie will sell sweater(s).
Vintage Camera T Temple MIS G is You have the following data for product X: sales revenue $14,000, allocated fixed costs $12,000, variable costs $20,000. You cannot increase the price of product X or improve the production process to increase profitability. What should you do about product X? O do nothing - unprofitable products are just one of the costs of doing business O keep the product both in the short term and in the long term O keep the product in the short term and drop it in the long term O drop the product both in the short term and in the long term O drop the product in the short term and keep it in the long term
Based on the figure, up to which level of output will like's Ice Cream Kitchen have increasing marginal retums? A only at 0 gallons B. up to 60 gallons C. up to 40 gallons up to 10 gallons D. Cost (dollars per gallon) 0 MC ATC AVC 10 20 30 40 50 60 70 80 90 100 Quantity (gallons of ice cream per hour * 2
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