9. Problems and Applications Q9 Jane's Juice Bar has the following cost schedules: In the following...

Transcribed Image Text:

9. Problems and Applications Q9 Jane's Juice Bar has the following cost schedules: In the following table, complete the marginal cost, average variable cost, and average total cost columns. Variable Cost Total Cost Marginal Cost (Dollars) (Dollars) (Dollars) Average Variable Cost (Dollars) Quantity (Vats of juice) 0 1 2 3 4 56 0 8 18 30 50 80 120 30 38 48 60 80 110 150 40 8.00 10.00 12.00 20.00 30.00 Average Total Cost (Dollars) On the following graph, use the orange points (square symbol) to plot the marginal-cost curve for Jane's Juice Bar. (Note: Be sure to pi amplo if the marginal cost of increasing production from 1 vat of fuice to 2 vats of juice is $5. واد ye 11 12 On the following graph, use the orange points (square symbol) to plot the marginal-cost curve for Jane's Juice Bar. (Note: Be sure to plot from left to right and to plot between integers. For example, if the marginal cost of increasing production from 1 vat of juice to 2 vats of juice is $5, then you would plot a point at (1.5, 5).) Then use the purple points (diamond symbol) to plot the average-variable cost curve starting at 1 vat of juice, and use the green points (triangle symbol) to plot the average-total-cost curve also starting at 1 vat of juice. (?) Costs 40 35 30 25 20 15 10 10 5 0 0 2 3 4 Quantity (Vats of juice) 5 6 Marginal Cost Average Variable Cost Average Total Cost 0 1 2 3 4 Quantity (Vats of juice) 11 5 Which of the following statements are true according to the previous graph? Check all that apply. 6 The marginal-cost curve is above the average-total-cost curve when output is greater than our and average total cost is rising The marginal-cost curve is below the average-total-cost curve when output is greater than four and average total cost is rising The marginal-cost curve lies below the average-variable-cost curve. M Grade It Now Save & Co Continue witho 9. Problems and Applications Q9 Jane's Juice Bar has the following cost schedules: In the following table, complete the marginal cost, average variable cost, and average total cost columns. Variable Cost Total Cost Marginal Cost (Dollars) (Dollars) (Dollars) Average Variable Cost (Dollars) Quantity (Vats of juice) 0 1 2 3 4 56 0 8 18 30 50 80 120 30 38 48 60 80 110 150 40 8.00 10.00 12.00 20.00 30.00 Average Total Cost (Dollars) On the following graph, use the orange points (square symbol) to plot the marginal-cost curve for Jane's Juice Bar. (Note: Be sure to pi amplo if the marginal cost of increasing production from 1 vat of fuice to 2 vats of juice is $5. واد ye 11 12 On the following graph, use the orange points (square symbol) to plot the marginal-cost curve for Jane's Juice Bar. (Note: Be sure to plot from left to right and to plot between integers. For example, if the marginal cost of increasing production from 1 vat of juice to 2 vats of juice is $5, then you would plot a point at (1.5, 5).) Then use the purple points (diamond symbol) to plot the average-variable cost curve starting at 1 vat of juice, and use the green points (triangle symbol) to plot the average-total-cost curve also starting at 1 vat of juice. (?) Costs 40 35 30 25 20 15 10 10 5 0 0 2 3 4 Quantity (Vats of juice) 5 6 Marginal Cost Average Variable Cost Average Total Cost 0 1 2 3 4 Quantity (Vats of juice) 11 5 Which of the following statements are true according to the previous graph? Check all that apply. 6 The marginal-cost curve is above the average-total-cost curve when output is greater than our and average total cost is rising The marginal-cost curve is below the average-total-cost curve when output is greater than four and average total cost is rising The marginal-cost curve lies below the average-variable-cost curve. M Grade It Now Save & Co Continue witho