Question: USOTUN Use the information in the table to answer the following question: # steers Output in cwt APP MPP TFC TVC TC AFC AVC AVC

USOTUN Use the information in the table to answer the following question: # steers Output in cwt APP MPP TFC TVC TC AFC AVC AVC ATC MC MR 0 0 5,000 0 5,000 10 72 7.2 7.2 5,000 1,950 4,950 9,950 69.44 68.75 138.19 68.75 $87.50 20 148 7.4 7.6 5,000 9,900 14,900 33.78 66.89 100.68 65.13 $87.50 30 225 7.5 7.7 5,000 14,850 19,850 22.22 66.00 88.22 64.29 $87.50 40 295 7.4 7.0 5,000 19,800 24,800 16.95 67.12 84.07 70.71 $87.50 50 360 7.2 6.5 5,000 24,750 29,750 29,750 13.89 68.75 82.64 76.15 $87.50 76.15 82.50 60 420 7.0 6.0 5,000 29,700 34,700 11.90 70.71 82.62 82.50 $87.50 70 475 6.8 5.5 5,000 34,650 39,650 10.53 72.95 83.47 90.00 $87.50 80 525 6.6 5.0 5,000 39,600 44,600 9.52 75.43 84.95 99.00 $87.50 90 570 6.3 4.5 6,000 44,550 49,550 8.77 78.16 86.93 110.00 $87.50 100 610 6.1 4.0 5,000 49,500 54,500 8.20 81.15 89.34 123.75 $87.50 Assume boot price is $87 50/cwt, total fixed costs are $5,000, and variable cost per steer is $495 At the profit maximizing point what is projected profit or loss? a $1,912 50 b. ($1,125) O c $2,050 d. $1,750 Assume beef price is $87.50/cwt, total fixed costs are $5,000, and variable cost per steer is $495. What is the profit maximizing amount of output to produce? O a 420 cm b. 475 cm O c. 60 steers d. 80 steers Assume beef price is $95/cwt, total fixed costs are $5,000, and variable cost per steer is $650. At the profit maximizing point, the producer should? O a Produce and make a profit b. Produce to minimize losses O c Not produce Od cannot be determined

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