How to determine the number of the variant


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economics 2



How to determine the number of the variant.
Please, add all the digits of the full date of your birth, divide the received sum by 12.
The remainder of the division is the number of your variant. In case when the remainder of the division is equal to 0, solve the variant № 12.
Example 1. Date of birth 25.09.2001. Let’s find the sum
2 + 5 + 0 + 9 + 2 + 0 + 0 + 1 = 19
=
Remainder of the division is equal to 7. This is the number of the variant.
Example 2. Date of birth 01.09.2000. Let’s find the sum
0 + 1 + 0 + 9 + 2 + 0 + 0 + 0 = 12
= 1
Remainder of the division is equal to 0. The number of the variant is 12.
At the beginning of your work write the number of the variant and confirm the choice of the number by calculations as in Example 1 or 2.
From the document find your option and make tasks.
All calculations should be done on sheets A-4, carefully and in detail, by hand.
Make a photo or scan your detailed calculations, compile it into a single Word document and upload it into MOODLE system.
Do not forget to indicate your name, number of your group and home task number in the file name.
Good luck!
Variant 1. Theme: Perfect Competition Market
Task 1:
Kate’s Katering provides catered meals, and the catered meals industry is perfectly competitive. Kate’s machinery costs $50 per day and is the only fixed input. Her variable cost consists of the wages paid to the cooks and the food ingredients. The variable cost per day associated with each level of output is given in the accompanying table.

Quantity of meals

TVC

TC

AVC

ATC

MC

0

0













5

100













10

200













15

330













20

500













25

720















  1. Calculate the total cost, the average variable cost, the average total cost, and the marginal cost for each quantity of output and complete the table.

  2. The firm will shut down if price falls below____________.

  3. The firm will have positive economic profit, if the price is more than ________.

  4. The firm will have loss, if the price is more than_______, but less than________.

  5. The firm will have zero economic profit, if the price equals___________.

  6. Explain your answers in paragraphs b, c, d, e.




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