In 1796 Gottfried Christoph Hartel A German Music Publisher Calculated The Cost Of Printing Music Using An Engraved P 1 (190.16 KiB) Viewed 38 times
In 1796, Gottfried Christoph Hartel, a German music publisher, calculated the cost of printing music using an engraved plate technology and used these estimated cost functions to make production decisions. Hartel figured that the fixed cost of printing a musical page-the cost of engraving the plates-was 900 pfennigs. The marginal cost of each additional copy of the page was 5 pfennigs (Scherer, 2001). Graph the average total cost, average variable cost, and marginal cost functions. 1.) Using the three-point curved line drawing tool, plot the average cost curve. Let the three points correspond to quantities of 20, 60, and 180 units of output. Label this curve 'AC.' 2.) Using the line drawing tool, draw the marginal cost curve. Label this curve 'MC.' 3.) Using the line drawing tool, plot the average variable cost curve. Label this curve 'AVC.' Carefully follow the instructions above, and only draw the required objects. Is there a cost advantage to having only one music publisher print a given composition? Why? ← pfennigs, cost per page 50- 45- 40- 35- 30- 20- 15- 10- 5- 0- 0 20 40 60 AC MC AVC 80 100 120 140 160 180 200 Q, Pages
Hartel used his data to do the following type of analysis: Suppose he expected to sell exactly 300 copies of a composition at 16 pfennigs per page. Considering the total revenue per page and the cost of printing per page, determine the maximum amount the publisher can pay the composer and still break even. pfennigs. (Enter your The publisher is willing to pay the composer up to response as a whole number.)
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!