Mae 101 Mibt

MAE 101 ECONOMIC PRINCIPLES ASSIGNMENT TRIMESTER 2 2011 XYZ Company operating(a) populate position in hawkish merchandise scholar advert: Student ID: Tutor Name: Due day: 9/9/2011 The XYZ Company is a small manufacturing company operating in a extremely agonistic industry. You are diligent by the company as their economic advisor. The company wants you to hear their price structure, production efficiency, and profitability and future trends in market behaviour. The pursuance cost schedule is presented to you: Quantity (Q)| Fixed exist ($)| shifting comprise (VC) ($)| summarise be ($)| fringy Cost (MC) ($)| summate Variable Cost (AVC) ($)| Average sum up Cost (ATC) ($)| 0| 46| 0| | | | | 1| | 30| | | | | 2| | | 96| | | | 3| | 58| | | | | 4| | 64| | | | | 5| | | 116| | | | 6| | 80| | | | | 7| | 94| | | | | 8| | | 164| | | | 9| | gross| | | | | 1. Fill in the table and graph the results use an jump spread sheet. Quantity(Q)| Fixed Cost($)| Variable Cost (VC)($)| Total Cost($)| Marginal Cost (MC)($)| Average Variable Cost (AVC)($)| Average Total Cost(ATC)($)| 0| 46| 0| 46| -| -| -| 1| 46| 30| 76| 30| 30| 76| 2| 46| 50| 96| 20| 25| 48| 3| 46| 58| 104| 8| 19.33| 34.67| 4| 46| 64| 110| 6| 16| 27.5| 5| 46| 70| 116| 6| 14| 23.2| 6| 46| 80| 126| 10| 13.33| 21| 7| 46| 94| cxl| 14| 13.43| 20| 8| 46| 118| 164| 24| 14.75| 20.5| 9| 46| 144| 190| 26| 16| 21.11| 2. What do you understand by the term a highly competitive industry? Explain what is meant by diminishing returns. From these cost curves explicate when diminishing returns set in? Why? The highly competitive industry means the firm in the competitive market with many buyers and marketers trading identical products and each buyer and seller is a price taker (Gans, 2009). The...If you want to get a adept essay, order it on our website: BestEssayCheap.com

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