Q: his refers to the ratio of a small increment of cost and a small increment of output. a. Increment…
A: Below is the formula for marginal cost:
Q: 39. What do you call that COST which is nat usually thought of at a coST? A. Explicit Cost B.…
A: When making any activity, there used to be some cost associated with it thay is classified into…
Q: QUESTION 22 Refer to the table below: Quantity of Output Fixed Variable Total Cost Cost Cost 1 $23…
A: Answer to the question is as follows :
Q: a. Complete the following table and answer two questions about costs. Instructions: Enter your…
A: Here we calculate the following terms by using the given information , so the calculation of the…
Q: Refer to Figure 13-4. Curve A represents which type of cost curve? O marginal cost O average total…
A: The curve A is negatively sloped. It is continuously falling and never rises. Curve A is relatively…
Q: QUESTION 25 The Marginal Cost curve crosses the Average Total Cost curve at its maximum. True False
A: "Marginal cost represents change in total costs when one more unit is produced while average total…
Q: 1. Show and explain the relationship between total cost, marginal cost and average variable cost
A:
Q: (d) Define the cost function g(n) = cost of making n sandwiches. Assume the cost to make 800…
A: "Since you have posted multiple questions, I can only answer the first question, rest you need to…
Q: What are the variable costs?
A: Variable cost refers to those costs that are changed along with the changes in the production. In…
Q: Discuss some of the difficulties encountered in applying these economic concepts in practical…
A: The fixed cost is the cost which remains the same even when the firm produces nothing as output.…
Q: Classify the Costs for Predicting Cost Behavior?
A: Every company incurred the costs to produce goods and services. For example labor cost, and…
Q: Three departments-milling (M), drilling (UJ, three work areas in Victor Berardis's machine shop in…
A: Workpiece feet from M to D = 22 * 9 = 198Workpiece feet from M to S = 34 * 5 = 170Workpiece feet…
Q: Cost (thousands of $) The graph shown on the right represents the cost C (in thousands of dollars)…
A: Cost refers to all the expense as well as the expenditure in a production process. These expenses…
Q: .If total cost is increasing, marginal cost is positive. a. True O b. False
A: # Total cost is the sum of variable and fixed cost incurred by a firm. At the same time, the…
Q: What is Cost Analysis?
A: The correct answer is given in the second step.
Q: FIGURE 7-3 $100 90- 80 70 60 50 主 40 30 20 10 1 2 3 4 5 6 7 8 9 10 Quantity of Output Refer to…
A: please find the answer below.
Q: 66. Which of the following cost curves is never U-shaped? A. O Average cost curve В. Marginal cost…
A: Which of the following cost curves is never U - shaped.
Q: If marginal cost is equal to average total cost then, (a) Average total costs are falling (b)…
A: Marginal cost depicts additional cost incurred in order to produce an additional unit of output.
Q: A. Graph total fixed cost, total variable cost and total cost B. Explain how the law of diminishing…
A: Answer A. TVC + TFC = TC Both TC and TVC run in concurrently. The x-axis of TFC is parallel. At zero…
Q: he cost a company incurs each month when it produces q pairs of shoes. Graph the average cost and…
A: AC(average cost) is the ratio of TC(total cost) and q(quantity). MC(marginal cost) is the derivative…
Q: Define explicit costs and implicit costs. b. Assume the following: * A firm buys a unit of…
A: Explicit cost is the cost that is incurred for paying external expenses like wages to employees,…
Q: 8. Why is the Minimum Average Total Cost and Efficient Scale important?
A: Average Total Cost : The average cost or average total cost is per unit cost incurred by the firm in…
Q: Output (units) (units) (units) (units) |(dollars) (dollars) (dollars) 1 $500 $0 1 1 10 (A). $500…
A: We know , TC = TFC + TVC TC = 500+ 600 TC = $1100
Q: 1. Find the total cost if marginal cost MC = 4 q+ 15 and fixed cost FC = 100.
A: total cost, in economics, the sum of all costs incurred by a firm in producing a certain level of…
Q: Explain the relationship between total product, marginal product, and average product and how does…
A: Total ProductIn simple terms, we will define Total Product because the total volume or amount of…
Q: 38. Graphically, where is average fixed cost (AFC)? It is below price but above average variable…
A: "Cost refers to the value of money that is spent on production or other economic activities." "Fixed…
Q: lassify each individual element of cost according to its behavior pattern (fixed, variable, or…
A: Fixed costs, variable costs, and semi-variable costs are types of costs that are classified based on…
Q: Mention and explain the cost components certainly do not exist in the long run?
A: The cost components include fixed costs and variable costs. Variable costs are the costs which vary…
Q: Identify the explicit costs incurred by this business. Why are they explicit costs?
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: 1. Economies of scale Vision Source is a cable television provider. In the long run, Vision Source…
A: Average total cost (ATC) = Total cost (TC) / Output (Q) When Q = 20,000, ATC = 700,000 / 20,000 = 35…
Q: Which of the following statements regarding marginal analysis is true? A. If total cost…
A: To sum up, marginal analysis is described as the cost of identifying the level of output at an…
Q: Q2.Average cost curves (except for average fixed cost) tend to be U-shaped, decreasing and then…
A: Average Cost(AC) is the cost of each unit that is evaluated by dividing Total Cost by the amount of…
Q: (a) Find the marginal cost function C'(x). C'(x) Use it to estimate how fast the cost is increasing…
A: Answer: Given values: To find: Marginal cost function and marginal cost (at 60,000) Average cost…
Q: What is the total variable cost of 2 oil changes?
A: Total cost is the sum of fixed cost and variable cost.
Q: 9. What is the Average Total Cost at Q=6? a) 7.50 b) 12 c) 20 d) 25 e) 45 f) 100 g) 120 Oh) 160
A: Introduction Total cost is the function of output. Total cost is the addition of total fixed cost…
Q: Define economies of scale and explain why they might arise. Define diseconomies of scale and explain…
A: Define economies of scale and explain why they might arise. When the long-run average total…
Q: 7. The cost per computer produced at a factory depends on how many computers the factory produces in…
A: The cost function of a firm consists of two types of cost- fixed cost and variable cost. The fixed…
Q: statements is true or false and explain If marginal cost is larger than average cost, average cost…
A: Marginal cost is the additional cost incurred in order to produce an additional unit of output.
Q: 12 .knowing that the total cost function is: TC = 200 + 3Q, Calculate the average fixed cost when…
A: Total cost is the sum of total fixed cost and total variable cost. Average fixed cost is total fixed…
Q: (iii) What part of the decreasing range is practically feasible? (iv) Write an equation for the…
A: The average (AC) cost function of the firm is, The first order condition is, The second order…
Q: Refer to the information provided in the Figure below to answer the question(s) that follow. Cost…
A: Here, we can see that Curve 1 is the Marginal Cost (MC) curve which cuts Curve 2 and Curve 3 at…
Q: 8. Which one of the following cost can never become zero? (A) (B) (C) (D) Average cost Fixed cost…
A: Answer according to the given question Option(B) is correct that it is the fixed cost which cannot…
Q: Question: The costs which vary as the level of putput varies are called: ) Prime costs ) Indirect…
A: Cost basically refers to the monetary value of goods or services that the consumers buy and the…
Q: Answer the question on the basis of the following cost data. Output Total Cost $ 24 1 33 2 41 3 48…
A: Variable cost is the cost that moves directly with respect to business activity. That is, one pays…
Q: TC = TVC + TFC TVC = AVC * q TFC = AFC * q TC ATC = AFC + AVC TFC AFC = TVC AVC = ATC MC = Да
A: Fixed cost is the cost that is same for all levels of production and marginal cost is the cost that…
Q: a. Construct a diagram of the cost function, where you have the quantity on the X-axis and the cost…
A: Answer; PART A QUANTITY(q) cost(C) Fixed (FC) Variable. (VC) Marginal. cost (MC) Average T.…
Q: what is the Explicit and Implicit cost? find the accounting profit and the economic profit Suppose…
A: Explicit cost are those cost which is hired by producer from outside' Implicit cost also known as…
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- What two lines on a cost curve diagram intersect at the shutdown point?5. The daily demand for rooms at a motel is given by P=100-2Q. Assume that the motel has 40 rooms. 5a. If total variable costs of running this motel are zero, find the price that maximizes profit and find the number of rooms rented at that price. Remember that profit is total revenue (i.e., TR = PQ) less total cost (i.e., the sum of variable costs and fixed costs). 5b. If the incremental cost of renting a room is $9 (i.e., the cost of paying the maid to clean the room, the cost of providing clean towels, the cost of the little pieces of chocolate that is placed on the bed, etc. is $9), find the price that maximizes profit and the number of rooms rented at that price.3.1) Chanelle’s chocolate factory has experienced financial difficulties. As a learned economics student, she has requested your aid to assist her in identifying various linear business functions. You have extracted the following co-ordinates and information for the month of May 2022: Please note that price is the x co-ordinate and quantity is the y co-ordinate. Total cost - A (3000;3) Variable cost – B (3000; 2) Total Revenue – C (12000; 4) Fixed cost = R2500 Using the following co-ordinates Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure
- Blue INK is the only cabel service provider in Gazipur. The diagram below depicts the price, output and costs incurred by Blue INK. Use the graph to answer the following questions: What is the Total revenue generated by Blue INK at the profit maximizing level of output?[ Answer in Numerical value only.i;e. 1,2,3,4,5] If the Cable Service Market turns into a Perfectly Competitive Market, what will be the total ammount of the service provided? [ Answer in Numerical value only] If the market turns into a Monopoly market again, what will be the total deadweight loss created? [ Answer in Numerical value only]Crawford Computing finds that its weekly profit, in dollars, from its production and sale of x laptop computers is P(x)=-.002x^3-.15x^2+400x-800 Currently, Crawford builds and sells 9 laptops weekly. (a) what is the current weekly profit? (b) how much profit would be lost if production and sales dropped to 8 laptops weekly? (c) what is the marginal profit with x=9? (d) use answers from parts (a) and (c) to estimate the profit resulting from the production and sale of 10 laptops weekly.You are running a chocolate factory and need to decide on the price to sell the chocolate as well as the quantity to produce. Demand curve; Q = 8.5 - 0.05 * P. The cost curve is C = 100 + 38Q. The business is a profit maximizer. 1) What is the best price to charge each week? 2) What is the best quantity to make each week? 3) What are the expected profits Is it possible to get this in an excel with equation formulas
- THIS EXERCISE FOR MATHEMATICAL ECONOMIC : Question (4): Consider a firm, where there is competition, looking to maximize its profits and the market has determined that the equilibrium price, the price firms must charge consumers is $45 a unit. The firm has determined that to minimize its total cost of production, it must produce 3 (in millions) units of good x. The firm’s total cost function is: C(q)= q3+2q2+11q+2 How much will the firm earn in total sales (revenues)? How much will the firm incur in total costs? What will be the firm’s total variable cost of production? What will be the firm’s total profits? What will be the average cost of production per unit of good x and what will be the average revenue per unit earned? Suppose that the market has repriced good x (per unit) to $38 and the firm will adjust its output to minimize its total cost of production to 2 (in millions).Can the firm continue to operate under this environment? Explain how you come to your conclusion.Discuss economies of scale and how average cost changes as output increases. What pricing strategy should a firm adopt while they are experiencing economies of scale? 250 words pleaseThe graph shown below is that of Do Drop In, a shop in the dry-cleaning industry. a) At the optimal output, what price will Do Drop In charge and what will be its output? Price: $ Output: units b) At the optimal price and output, what will be its total revenue, total cost, and total loss? TR: $ ; TC: $ Total loss: $ c) If this firm made a rational decision to continue to produce, despite the loss, average variable cost must be below what level? AVC must be less than $ .
- The graph below represents sales per week of ABC Inc. Ltd, a monopoly multinational enterprise that supplies Hi-tech components. Use the graph to answer the questions that follow. i. Suppose the demand and cost curves result in ABC Inc. Ltd earning aneconomic profit. Do you think ABC Inc. Ltd firm will earn profit in the longrun? Explain your answer. Assume all factors constant.Delvin has a hot dog stand in a busy midtown area with similar stands on every block. The graph above shows the cost curves of Delvin’s Hot Dogs. The market price of a hot dog is $3. Answer the questions below and show all calculations where necessary. From the diagram, what is Delvin’s profit-maximizing output per day? Explain your answer. Calculate Delvin’s accounting profit per day. How will Delvin’s price and profit change in the long-run, assuming no change in technology or demand?Give typing answer with explanation and conclusion If Thomas made an accounting profit of $45,000 in his business last year, but he did not take into account of the implicit or opportunity costs of his resources he: