Question
Given the following information for a restaurant, what is this firm's ATC, MC and TC at...
Given the following information for a restaurant, what is this firm's ATC, MC and TC at Q = 0, 1, 2, 3, and 4?
Building lease = $600
Interest owner could have earned on funds invested in business = $400
Food per meal = $500 / meal
Servers for each meal = $400/ meal
Time owner spends at each meal = $100/meal
Homework Answers
Answer #1
The excel calculation and formula used are shown below:
Please don't forget to rate the answer if its helpful, thank you.
Not the answer you're looking for?
Similar Questions
Given the following information for a restaurant, what is this firm's ATC, MC and TC at...
Given the following information for a restaurant, what is this
firm's ATC, MC and TC at Q = 0, 1, 2, 3, and 4?
Building lease = $600
Interest owner could have earned on funds invested in business =
$400
Food per meal = $500 / meal
Servers for each meal = $400/ meal
Time owner spends at each meal = $100/meal
Given the following information for a restaurant, what is this firm's ATC, MC and TC at...
Given the following information for a restaurant, what is this
firm's ATC, MC and TC at Q = 0, 1, 2, 3, and 4?
Building lease = $600
Interest owner could have earned on funds invested in business =
$400
Food per meal = $500 / meal
Servers for each meal = $400/ meal
Time owner spends at each meal = $100/meal
Complete the following table. Output MC VC FC TC ATC AFC AVC ATC-AVC 0 $6,000 100...
Complete the following table.
Output
MC
VC
FC
TC
ATC
AFC
AVC
ATC-AVC
0
$6,000
100
$10
200
$2,500
300
$10,500
400
$36.25
500
$45
600
$20,000
You know several relationships among these variables that will
allow you to check your work. For example,
AFC decreases as Q increases.
AVC approaches ATC from below as output increases.
Given the following information about a firm’s costs, complete the following chart. Graph the TC, TFC...
Given the following information about a firm’s costs,
complete the following chart. Graph the TC, TFC and TVC on one
graph and directly below it (stack) a graph with the ATC, AFC, AVC
& MC.
Q
TC
TFC
TVC
ATC
AFC
AVC
MC
0
$2,500
--
25
20.00
50
$900
75
$49.33
100
15.00
125
$2,000
150
$5,050
175
$32.29
200
19.00
Jin Ramen is a restaurant on Broadway. Jin Ramen’s daily Total Costs is TC =q^2/100 +...
Jin Ramen is a restaurant on Broadway. Jin Ramen’s
daily Total Costs is TC =q^2/100 + 20q + 400. Where q is the number
of meals served each day.
In the evening, customers are willing to pay up to $25 for a
meal, while at lunch they do not want to spend more than $15.
Should the restaurant remain open for business at lunch-time?
Why?
If the restaurant wants to maximize profits, how many meals
should it serve each day?...
Given the following information about a firm’s costs, complete the following chart. On one graph, show...
Given the following information about a firm’s costs,
complete the following chart. On one graph, show the TC, TFC and
TVC. On a separate graph, show the AFC, AVC, ATC, and
MC. You may use graph paper for this
question.
Q
TC
TFC
TVC
ATC
AFC
AVC
MC
0
--
50
10.00
100
9.00
150
8.00
200
12.00
7.00
250
6.00
300
7.00
350
8.00
400
9.00
Table 1. Use the information to calculate the following TC, AFC, AVC, ATC, AND MC (I...
Table 1. Use the information to calculate the following
TC, AFC, AVC, ATC, AND MC (I through 50)
TP
TFC
TVC
TC
AFC
AVC
ATC
MC
150
0
(1)
(11)
(21)
(31)
(41)
2
150
70
(2)
(12)
(22)
(32)
(42)
3
150
130
(3)
(13)
(23)
(33)
(43)
4
150
240
(4)
(14)
(24)
(34)
(44)
5
150
300
(5)
(15)
(25)
(35)
(45)
6
150
360
(6)
(16)
(26)
(36)
(46)
7
150
390
(7)
(17)
(27)
(37)...
Q TC MC TR AVC ATC Total Profit or Loss 0 3750 --- 0 --- ---...
Q
TC
MC
TR
AVC
ATC
Total Profit or Loss
0
3750
---
0
---
---
-3750
250
7500
3750
500
8500
7500
9.50
17.00
-1000
750
9000
11250
1000
10250
15000
6.50
10.25
4750
1250
12875
10.50
18750
7.30
10.30
1500
16500
14.50
22500
8.50
1750
21625
20.50
26250
10.21
12.36
4625
2000
28125
26.00
30000
12.91
14.06
1875
Given the above table, which shows the weekly production
information for bushels of soybeans, complete the following:
1) Complete the...
30. Tom owns and operates a classy bistro restaurant, Tom's Bistro, and gathers the following information...
30.
Tom owns and operates a classy bistro restaurant, Tom's Bistro,
and gathers the following information to make a decision on whether
to stay open for business or to shut down permanently:
Future operating revenues = $12 million
Future operating costs = $10 million
Sunk costs = $4 million
Tom should:
A.
shut down because the operating revenues are insufficient to
cover the operating costs and sunk costs.
B.
continue to operate because the operating revenues exceed the
operating costs....
MK Restaurant: Branding of Thai-Style Hotpot The restaurant industry is one of the most...
MK Restaurant: Branding of Thai-Style Hotpot
The restaurant industry is one of the most competitive in
Thailand. With a large number of players ranging from restaurants
in five-star hotels, global fast-food chains to small stalls along
the streets and everything in between, the Thais are spoiled for
choice. In addition, as the world becomes globalized, consumers are
familiar with international dishes and would not hesitate to try
new offerings from the other side of the globe. As a...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 21 minutes ago
asked 22 minutes ago
asked 25 minutes ago
asked 26 minutes ago
asked 27 minutes ago
asked 46 minutes ago
asked 47 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 2 hours ago