A firm have fixed cost of 70$ and a variable cost as indicated in the table. complete the table after applying tge required formula and draw graph AFC, AVC, ATC, and M

Q: At an output of 20,000 units per year, a firm's variable costs are $80,000 and its average…

A: Given information: Total output produced: 20,000 units per year Total variable cost: $80,000 per…

Q: Gomez runs a small pottery firm. He hires one helper at $12000 per year, pays annual rent of $5000…

A: Accounting profit is the net profit of a firm which is total revenue minus explicit costs. Economic…

Q: 40 points pasible tgraded results hidden) Just Juice pays their workers 99.0tk per day. The cost of…

A: A)  Variable cost.  No. Of labor when 300 quantity is produced = 4 Labor cost = 4*99 = 396 Cost of…

Q: Graphed below is a company's cost function for producing premium wooden shoe horns. Quantity of Shoe…

A: The money spent to purchase the factor of production to produce the final goods and services is…

Q: Q3. Complete the following cost table given below and additionally state all the formulae used:…

A: TC is the total expenditure incurred in the production of total output. TC is the sum of fixed and…

Q: 4. Ball Bearings, Inc., faces costs of production as follow Quantity Total Fixed Cost Total Variable…

A: given that, total fixed cost and total variable cost we have to find firms profit or loss and was…

Q: 13. 8-6B: Total Costs and Average Costs *3* If the Total Variable Cost (TVC) curve is rising then…

A: below table show the TVC shedule, where rise in TVC gives rise to AVC. AC stills falls for certain…

Q: b. If AC= Q?-4Q+10 i. Final the total cost and marginal cost function. Is this function is more…

A: TC = Q x AC = Q3 - 4Q2 + 10Q MC = dTC/dQ = 3Q2 - 8Q + 10

Q: Complete the cost schedule using the data below for a firm operating in the short run. Fill in all…

A: The table can be filled by calculating the blanks with the given formula: Average variable cost can…

Q: (a) What is the total economic cost? (b) How would accounting and economic costs change if the…

A: Opportunity cost is the foregone benefit that arises from the alternate option that is not chosen.

Q: Refer to the information provided in Table below to answer the question that follow. Number of…

A: Total cost is the total expenditure incurred by the producer in the production process. Marginal…

Q: 10. For the cost function CC) = 100 - 20 -302 the average foxed cost of producing 2 units of outout…

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

Q: Vipsana's Gyros House sells gyros. The cost of ingredients (pita, meat, spices, etc.) to make a gyro…

A: Fixed cost is independent of output produced.

Q: Che Jones Company has the following cost schedule: Output Total Cost (Units) ($) 0. 3000 50 3750 100…

A: The cost schedule is the tabular representation of the total cost of production at various levels of…

Q: H.W 7/ For the following data: Fixed cost = 100,000 ID Variable cost per unit = 300 ID Selling price…

A: Break-even point (BEP) is that point where the firm is making zero economic profits, i.e. where the…

Q: caps ness is reproduced below: Output Total Cost 50 890 100 920 150 1000 200 1260 250 1470 300 1850

A: The following problem has been answered as follows

Q: A local baker owns a small shop in a very busy downtown section that the baker uses to bake loaves…

A: In economics, operating cost is the expenditure incurred on daily basis as it is the ongoing cost of…

Q: Your cousin Vinnie owns a painting company with fixed costs of $250 and the following schedule for…

A: Average Fixed Cost = Fixed Cost / Quantity Average Variable Cost = Variable Cost / Quantity Average…

Q: Given the production and cost schedule for Laso Factory for tapes.Determine the average fixed cost…

A: Costs are the expenses that the firms have to incur in the production of goods and services. In the…

Q: A special shoe manufacturer ABC Co. has costs of production as follows : Quantity 0 1 2 3 4 5 6…

A: a) AFC=TFC/Q AVC=TVC/Q ATC=TC/Q MC=TCn-TC(n-1)

Q: XX XX XX XX 20 4,000 40 10,000 60 15,000 80 19,400 100 23,000 a. Complete the table. b. What is the…

A: *Answer:      a.

Q: Question 4: Compute the total mixing cost (fixed and variable) from the following graphical…

A: Given:  Total Fixed Cost : a=$25000 Variable cost per unit of activity : b=$3.0430 Activity level of…

Q: Finley's orchard incurs $90,000 per year in fixed costs. Last year, their total production was 100…

A: Fixed cost is the cost that remains same at all levels of output. Average Fixed cost is the Fixed…

Q: A microbrewery was built in 2014 at a total cost of $650,000. Additionalinformation is given in the…

A: Weighted index for 2020 (in terms of 2000 indices) can be calculated as follows.

Q: Martinez Company's relevant range of production is 7,500 units to 12,500 units. The unit costs when…

A: Variable Cost is the cost that changes with the change in output. It depends on the amount of units…

Q: A firm has fixed costs of $60 and varlable costs as Indicated in the table below. Complete the…

A: Total cost:Total cost for quantity 0 can be calculated as follows:

Q: A firm had sales revenue of $1 million last year. It spent $600,000 on labor, $150,000 on capital…

A: Given: Sales revenue=$1 million Labor=$600,000 Capital=$150000 Materials=$200000 To find: Firm’s…

Q: Suppose a company lIncurs the following costs: labor, $3,500; equipment, $900; and materials,…

A: Accounting costs are any expenses that your company has incurred.By deducting expenditures from…

Q: when average cost increases as the total output increases for an increasing cost industry?

A: The firms incur a certain amount of cost to produce a certain amount of output. Production cost is…

Q: g. Now suppose that firm is faced with the same problem as in (e and f) except that firm has a fixed…

A: Given: Production function: Q=K1/2L1/2 Price of K (R)=$8 Price of L (W)=$2

Q: Your cousin Vinnie owns a painting company with fixed costs of $200 and thefollowing schedule for…

A: Cost is defined as an expenditure that is incurred in the production of a product or service or to…

Q: Q VC AVC TC ATC MC $30 1 $40 $50 3 $80 4 $90 What are the fixed costs? If the firm can sell its…

A: To complete the table we need following formula Total cost = Fixed cost + Variable cost Average…

Q: (M&M) sell one size of coffee latte. Medro & Mariana put together the weekly breakeven diagram for…

A: The total revenue from the sale of a particular quantity of products or services is referred to as…

Q: 10:29 A bartleby.com ce ago A company manufactures small refrigerators. The total cost to…

A:

Q: a. Define explicit costs and implicit costs.   b. Assume the following: * A firm buys a unit of…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: The lawn ranger , a landscaping company , has total costs of $15,000 and total fixed cost of $13000…

A: The provided information are: Total costs = $5000 Total fixed cost = $3000

Q: Sanmina Corporation of Toronto produces medical equipment and is producing 100 units of output in…

A: Total cost = Total fixed cost + total variable cost   Total cost = ATC * Output Total variable cost…

Q: 1. List the explicit costs and then list the implicit costs . Be sure to properly LABEL them so that…

A: The key motive that drives the firms to operate in a market is profit. Profit is the difference…

Q: What type of cost is included in economic costs, but not included in accounting costs? a. Explicit…

A: Accounting cost includes all the explicit cost. In other words, all the payment made by the business…

Q: 2. As an employee of the Rays-R-Us Corporation (a solar panel company), you have been asked to…

A: a.Total cost and long run average cost for quantity 1:Total cost and long run average cost for…

Q: Thread Club produced 700 sweatshirts with a production cost $11.25 per sweatshirt. This month, they…

A: As per the question, it is given that Quantity of sweatshirts produced by Thread club = 700…

Q: 1,200 B TC 1,000 850 700 TVC 500 2 3 Number of microwave ovens 6. Refer to the figure above. Based…

A: Answer: Note that TC at zero units is $500. The TC at zero units is equal to the total fixed cost…

Q: The change in fotal costjof proaucCuọn as the output or total product of the business is expanded…

A: Production cost refers to the overall cost of manufacturing a given amount of a good or selling…

Q: a)A short run total cost function of company is given below: TC=1500+225Q-15Q²+Q³•where TC is total…

A: TC = 1500 +225 Q - 15Q2 + Q3 MC = ∆TC / ∆Q

Q: 11. If average total cost is 100 for a given output and marginal cost is 70) we then know that…

A: Average fixed cost refers to the fixed cost per unit.

Q: %3D A company makes solar panels. The company's revenue function, in dollars, is R(n)=10n, where n…

A: We are going to answer these questions using maximization method and using Solver function in excel…

Q: Question 1 A. Jamaica Biscuit Company produces 8000 cases of water crackers weekly. Based on the…

A: We use the following formulas: Total Cost = Total Fixed Cost + Total Variable Cost Total Revenue =…