8) A firms produces an output of 10 units, when their total cost is $50 and their fixed costs are $10. Find: VC, AFC, AVC & ATC.

Q: Explain the influence of costs in the short run on a firm's output

A: Short-run is a period of time when there is some cost which cannot be varied.

Q: PROBLEM 1. 4 The following table represents the production costs for a single firm in the short run.…

A: We have given  Q FC VC TC MC AVC ATC 0     24       3   18         5       12     8…

Q: The diagram shows the short-run cost curves of a firm. Which statement is CORRECT? costs output

A: OPTION A is correct. Curve 1 is Average Fixed Cost Curve AFC = TFC/Q Since TFC is positive at levels…

Q: (Table) Based on the table, Output is the marginal cost when moving from forty to forty-eight units.…

A: TFC=$500 TC=TVC+TFC MC=Change in total costChange in output

Q: d. If the firm closes down and produces no output, what will be its total cost? e. If the firm…

A: Total Cost is the sum total of Total Variable Cost and Total Fixed Cost. It denotes the total cost…

Q: The J&J company produces a number of products including shampoo, q s and toothpaste q T: Suppose the…

A: Economies of scale means the size of the company and that company's capability to sell its goods and…

Q: 2. Suppose a firm has the production function f(k,l) = (k'/3 + l!/3)3 a. Calculate the cost function…

A: A cost function refers to a mathematical expression which shows the least cost of manufacturing a…

Q: Why firm is inefficient when producing at the 6th unit? Explain your answer. c.

A: The firm maximizes its profit when marginal revenue is equal to marginal cost (MR=MC= 20) and…

Q: 1) Consider a company that outputs 1,000 doohickies. The company's long-run production function is:…

A: Answer;

Q: In the short run, a firm's output level is 10 units. Its total cost is $4000 and its average fixed…

A: Cost of production refers to the amount of money involved in the production of goods and services,…

Q: At level of output, average fixed costs = $20, average variable costs = $10 and total costs = $900.…

A: Average total cost = Average fixed cost + Average variable costAverage total cost = Total cost /…

Q: Assume that in the short run a firm is producing 1,000 units of output, has average total costs of…

A: Solving with the help of formula

Q: Explain and identify the relationship between total cost, average cost and marginal cost using…

A: Total cost is defined as the total expenses that a company or firm has to incur in order to produce…

Q: Question 5 of 7 A firm's long-run total cost function is C 360 + 40Q = 10Q2. a. What is the shape of…

A: Given: A firm's long-run total cost function is: C = 360 + 40Q + 10Q2 To Find: The shape of the…

Q: At level of output, average fixed costs = $20, average variable costs $900. Given this information,…

A: Usually in the easy language we can call Average fixed cost as the cost which is gradually required…

Q: Suppose that, when producing 50 units of output, a firm's AVC is $30, its AFC is $8, and its MC is…

A: The total cost incurred by firms operating in a market includes fixed costs and variable costs.…

Q: 15. If a firm's short – run total cost function is TC = 20 + 2q? then its short run average cost at…

A: TC = 20 + 2q^2  AC = TC/q  by putting the value in TC of q = 1  TC = 20 + 2. (1) ^2         AC = TC…

Q: 3:5 Uwe produces bicycles. The quantity of bicycles is Q. The material costs are 36 for each…

A: Since , we are given that Quantity of bicycle produced=Q Material cost= 36 for each means 36Q Cost…

Q: D) Quadratic Functions and Economics 1) The cost function of a firm is shown as TC=2q-44q+1100. What…

A: Given  Total cost function  TC=2q2-44q+1100           .......... (1) We have to find total cost…

Q: total revenue (TR) and total variable cost

A:

Q: D) Quadratic Functions and Economics 1) The cost function of a firm is shown as TC=2q-44 q+1100.…

A: Given:  TC=2q2-44q+1100

Q: Assume that in the short run a firm is producing 1,000 units of output, has average total costs of…

A: Here given that, Short run a firm is producing 1000 units of output , Q = 1000 units  Average total…

Q: Show the effect of diminishing returns on the marginal and average cost curves of a firm in the…

A: diminishing returns is a  financial regulation expressing assuming one contribution to the…

Q: 6) If a firm produces 100 units of output and has an average total cost of $6 then what is their…

A: Average total cost refers to total cost divided by a total unit of output produced. It is the sum of…

Q: Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only…

A: Short-run total cost (SRTC) and long-run total cost (LRTC) curves increase in the output value…

Q: Using the Diagram above, answer the following questions: b). Suppose this firm produces 15 units of…

A: Variable cost is the cost that is closely associated with the production activity. That is, it moves…

Q: Suppose a hotel exhibits constant returns to scale as it increases its output. If it increases  all…

A: Returns to scale is about the relationship between input and output. It refers to the amount of…

Q: Assume that In the short run a firm Is producing 100 units of output, has average total costs of…

A: Average variable cost (AVC): - it is the average value of the cost incurred due to the employment of…

Q: 9. At an output level of50 units per day a firm has average total costs of $60 and averagevariable…

A: here we can find the total fixed cost as follow

Q: Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only…

A: Given information: Ike Bikes is a manufacturer of bikes, currently producing bikes in its only one…

Q: Given a firm's total cost function: TC = 50 +2Q +2Q², where Q is the quantity of output. Solve for…

A: Cost of production undergoes change when output increase or decrease.

Q: Question attached

A: The long-run average cost curve is a concept which measures the level of the cost incurred by the…

Q: (iv) How many 750ml bottles of dish washing liquid should Teddy J produce per month if he wishes to…

A: Profit maximizing quantity is when marginal revenue MR = Marginal cost MC. To find the quantity…

Q: Question 21 When a firm increased its output by one unit, its AFC decreased. This is an indication…

A: The firms depend upon the fixed and the variables costs as they need to bear them at the initial…

Q: 7) What is the relationship between AFC, AVC & ATC? How are these calculated? 8) A firms produces an…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Melody Music Store has a total cost function of TC = 500 + 10Q + 5Q?. (a) Find the firm's fixed…

A: Total Cost is defined as the sum of Fixed Costs plus Variable Costs. Fixed Costs are those costs…

Q: Assume a firm's short run total cost is STC = cSR = 10q + 10,/q + 10. Compute its marginal cost and…

A: Given  Firm's short-run cost function STC(q)=10q+10q+10             ... (1)

Q: Table: Cherry Farm Quantity of cherries Total Cost (in pounds) S2 13 16 21 28 38 Use Table: Cherry…

A: The average total cost (ATC) reflects the cost incurred per unit of output produced.

Q: Assume the short run variable cost function for Japanese beer is VC=0.6q^0.8 If the fixed cost (F)…

A: Variable cost:  VC = 0.6q0.8 Fixed cost:  F = 1500 -------

Q: The figure shows the cost curves for Phil's Phone Repair, a cell phone repair firm. When output…

A: Answer is given Below

Q: 1. Evaluate the view that the main goal of firms will always be cost minimization.

A: Note: Only first question is answered since the exact one wasn’t specified, if you want answers for…

Q: 5) Sarah's Pretzel plant has the following short-run cost function: Cg, K) wg3 + 50K where q is…

A: Cost refers to the amount the is incurred for using factors of production to produce goods. Profit…

Q: Please help with this.

A: The sum total of all production costs divided by the total quantity of output is known as the…

Q: 10 If a firm's short – run total cost function is TC = 20 + 10q? then its marginal cost at an output…

A: Here, short-run total cost function is given as: TC=20+10q2 To find: Marginal cost at the output of…

Q: We expect the marginal cost to increase as this firm produces more computers. But when the firm…

A: Marginal cost (MC) is the change in total cost or total variable cost per unit change in output.