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MGEB06H3 Lecture 6: Lecture Note for ECMB06, Lecture 6

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magentagerbil794
19 Jul 2010
School
UTSC
Department
Economics for Management Studies
Course
MGEB06H3
Professor
Jack Parkinson

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Related Questions

Output TC

0 $ 800

1 1,000

2 1,250

3 1,550

4 2,000

5 2,500

how do you calculate AVC & AFC?

24. Consider the Insertion Sort (code 3) algorithm described in the appendix. How can we change this code to have the algorithm sort from largest to smallest instead? (A) Change line 9 to: a[j-1] = a[j]; (B) Change line 7 to: while(j >0 && a[j - 1] 0; i--) (E) Change line 12 to: a[i] = x;

4. Complete the following cost schedules:
Quantity TC ATC MC
0 9 xxx xxx
1 12 12 3
2 16 8 4
3 21 7 5
4 30 7.5 9
5 40 8 10
6 52 8.66 12
7 66 9.42 14
Assuming the price of this product is $10, at what output rate is
( a ) Total revenue maximized?
Total revenue is maximized at 7 units
( b ) ATC minimized?
( c ) Profit per unit maximized?
Profit per unit is maximized at 3 units
( d ) Total profit maximized?
Total profit is maximized at 4 & 5 units

when is ATC minimized?