a. Calculate the total cost, the average variable cost, the aver-age total cost, and the marginal cost for each quantity of output.

b. What is the break-even price? What is the shut-down price?
c. Suppose that the price at which Kate can sell catered meals is $21 per meal. In the short run, will Kate earn a profit? In the short run, should she produce or shut down?
d. Suppose that the price at which Kate can sell catered meals is $17 per meal. In the short run, will Kate earn a profit? In the short run, should she produce or shut down?
e. Suppose that the price at which Kate can sell catered meals is $13 per meal. In the short run, will Kate earn a profit? In the short run, should she produce or shut down?

Similar Questions
  1. A firm produces x tonnes of output at a total cost of C(x)=1/10x^3-4x^3+20x+5.1. Find the avaerage cost 2. Average variable cost
    1. answers icon 1 answer
  2. At the point where marginal cost equals average variable cost,b and c. marginal cost is rising. average total cost is at its
    1. answers icon 1 answer
  3. Yeah, so I'm in urgent need of help with this homework.1. Assume that in a perfectly competitive market, a firm's costs and
    1. answers icon 1 answer
    1. answers icon 0 answers
more similar questions