3. Below is the cost structure of a hiking boot producing company. Output Total Cost AFC...

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3. Below is the cost structure of a hiking boot producing company. Output Total Cost AFC AVCATCMC per week 0 $100,00 I $155,70 2 $205,60 3 $253,90 4 $304,80 5 $362,50 6 $431,20 7 $515,10 8 $618,40 9 $745,30 10 $900,00 a. Fill in the missing values in the table. b. Suppose the equilibrium price in the hiking boots market is $100. How many pairs of boots should this company produce and how much profit it will make? c. If the equilibrium price of boots falls to $50, should the company continue to produce or shut down? Explain your answer. 3. Below is the cost structure of a hiking boot producing company. Output Total Cost AFC AVCATCMC per week 0 $100,00 I $155,70 2 $205,60 3 $253,90 4 $304,80 5 $362,50 6 $431,20 7 $515,10 8 $618,40 9 $745,30 10 $900,00 a. Fill in the missing values in the table. b. Suppose the equilibrium price in the hiking boots market is $100. How many pairs of boots should this company produce and how much profit it will make? c. If the equilibrium price of boots falls to $50, should the company continue to produce or shut down? Explain your answer.

Answer rating: 100% (QA)

a To fill in the missing values in the table we can calculate the Average Fixed Cost AFC Average Tot... View the full answer