a) Fill in the table above b) Does this firm operate in short run or long run? Explain why? c) Skecth the total fixed cost, total variable cost and total cost.

Q: A firm's short-run average cost curve is U-shaped. Which of these conclusions can be reached…

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

Q: A firm encountering economies of scale over some ange of output will have a: rising long-run average…

A: The economies and diseconomies of scale affect the shape of average cost curve.

Q: There is a different short-run ATC curve for each level of * variable cost. variable inputs. fixed…

A: The ordinary shape for a short-run normal expense curve is U-molded with diminishing normal expenses…

Q: A firm encountering economies of scale over some range of output will have a a. rising, then…

A: Microeconomics is a part studied under economics that is used to understand the demand and supply…

Q: table bélow describes the cost functions for a food manufacturer. Fixed Variable Total Cost Avg.…

A: Cost Formulas: 1. Total Cost = Fixed Cost + Variable Cost 2. Average Total Cost = Total Cost /…

Q: MC ATC Avc AVC B A AFC Quantity Refer to the diagram. At output level Q total variable cost is…

A: Mathematically, the average variable cost is determined by separating the absolute variable cost…

Q: If Boeing produces 9 jets per month, its long-runtotal cost is $9 million per month. If it…

A: Costs are the expenses that firms incur during the production processes. The firm’s costs depend…

Q: Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of…

A: Fixed cost is the cost of production that doesn't vary with the level of production and exits even…

Q: Betty's Bakery Quantity of cakes 1 2 3 4 5 6 7 8 Fixed Cost Variable Cost $13 $28 $64 $108 $133…

A: Marginal cost refers to the increase or decrease in the cost of producing one more unit or serving…

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: Quantity (boxes of cakes) Total variable cost (dollars) 0 0 1 20 2 35 3 50 4 75 5 110 6 160 The…

A: Total cost is the sum of fixed cost and variable cost. Fixed cost is independent of quantity.…

Q: In the short run marginal cost crosses average total cost at the minimum of average total cost True…

A: According to the given question Simply a Short run period is that period in which the other factors…

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: List and explain which of the following is a fixed cost or a variable cost for  Caribbean Airlines.…

A: Total fixed costs are the total obligations of the firm per time period for all fixed inputs.  Total…

Q: Quantity Total Fixed Cost 0. 60 60 60 115 4 60 130 6. 60 160 8. 60 200 10 60 250 Using the above…

A: Fixed costs (FC) are costs incurred during production that are not dependent on the quantity of the…

Q: marginal revenue 1. Questions and Problems 6 average variable cost Average total cost is equal to…

A: The total average cost is defined as the aggregate of all costs of production at a given level of…

Q: With appropriate examples, distinguish between (i) short run and long run (ii) fixed cost and…

A: The most important aspect in the business firms is the time period and the production amount as well…

Q: The table below shows the short run cost for producing bicycles. Complete all missing values in…

A: Labor output Q fixed cost TFC variable cost TVC total cost TC = FC+VC average fixed cost…

Q: Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of…

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

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: At Jody's bakery they are currently selling 400 loafs of bread. It cost them $4,000 to buy an oven,…

A: Variable cost: A variable cost is a corporate expense that changes in proportion to how much a…

Q: Consider the following hypothetical firm that is normally producing 200 units of the product per…

A: Variable costs  are costs that extrade because the extent changes. Examples of variable costs are…

Q: The four statements below describe properties of a firm's short run cost curves. Complete the…

A: Average cost is the sum of average fixed cost an average variable cost. It is a U-shaped curve.

Q: 21

A: Short run production function means where only one factor is variable in nature and other factor…

Q: ben diseconomies of scale occur: A the long-run average total cost curve B. marginal cost intersects…

A: Firm produces final goods and services using the factors of production which are broadly divided…

Q: Jeremy worked at a bank with a monthly salary of $1,500. He decided to quit his job and open a…

A: As we answer 3 subparts and the question has more than 3 subparts, we would be answering the first 3…

Q: Question 6 The table below describes the cost functions for a food manufacturer. Total Fixed…

A: Total cost is the sum of fixed cost and variable cost. Fixed cost does not depend on output and…

Q: Construct the cost schedule using the data. below for a firm operating in the short run.   Graph…

A: Total cost is the sum of all the cost that incurred by a firm in order to produce output. The…

Q: In the short run, if marginal product is at its maximum, then A) average cost is at its minimum B)…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: (c) The cost function of a firm is given below: पतंजलि 4 Output Total Cost () 1 60 80 100 111 116…

A:

Q: Question 7 Short run costs A firm's short-run cost function is C(q) = 10q - 12q? +0.5q+ 400 1. Find…

A: Here, a firm's short-run cost function is given as: C(q)=10q-12q2+0.5q3+400

Q: A producer borrows money and starts a business. He himself looks after the business. Identify…

A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…

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: Anita's firm has a total variable cost of 2q2-85q and total fixed cost is 200 1. find the firm…

A: Introduction Total cost is the addition of total variable cost and total fixed cost. Total fixed…

Q: When output is zero, total fixed cost is zero. O True O False

A: Total fixed cost it is cost that do not vary with level of output.

Q: Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of…

A: The firms total costs are equal to the sum of its variable costs and fixed costs. Fixed costs are…

Q: Total variable cost as output increases, and total fixed cost as output increases. Select one O A.…

A: Total Fixed cost is the cost that is incurred on fixed factors and does not change with the level of…

Q: For a restaurant that sells hamburgers, which of the following costs would be a variable cost? O The…

A: Variable cost is those cost which is not fixed in nature. These costs change in proportion to…

Q: When diseconomies of scale occur: CA. the long-run average total cost B. marginal cost intersects…

A: The average total cost (AC) is the per unit cost of production of the firm. The long run average…

Q: Fill in the blanks with: (a: rising) (b: at a minimum) (c: at a maximum) (d: falling) (e: constant)…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: (TC is total cost; VC is variable cost; Q is quantity.) ATC а. b. The amount by which total cost…

A: A -Change in TC dur to change in output is called MARGINAL COST B- AMOUNT by which total cost…

Q: Which of the following is not a variable cost at the sandwich shop? Cost of labor O Cost of tomatoes…

A: Definition: Variable costs are costs that depend on the number of goods or services it produces. An…

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: rue or false 1-The marginal cost curve intersects the minimum point of both the average total cost…

A: Marginal cost refers to the additional cost that incurred due to increasing one more unit of output.

Q: If a firm experiences economies of scale over all relevant levels of output, its long-run average…

A: A production function illustrates the relationship between the inputs used and the output produced…