A firm's average total cost of production is Rs.300 at 5 units of output and Rs.320 at 6 units of output. The marginal cost of producing the 6th unit is А. Rs.20 В. Rs.120 С. Rs.320 D. Rs.420

Q: The next 3 questions deal with the following situation. Jennifer has a home business selling women's…

A: Accounting profits take into account only the explicit cost into consideration and not the…

Q: Diminishing marginal product is also known as a) net investment. b) diminishing returns. c)…

A: Net investment is the difference between total amount of money spend on capital and the depreciation…

Q: If marginal cost for 7th unit is given by the function:- 4Q2 - 3Q + 20 Calculate the marginal cost…

A: The marginal cost function is given as:- 4Q² - 3Q + 20 Also the number of unit produced Is 7 units…

Q: The marginal-cost (MC) curve and the average-variable-cost (AVC) curve are same images of the…

A: MC is the cost which is associated with the MP and the cost which is associated with the AP is the…

Q: A firm faces the following costs: total cost of capital = $1,000; price paid for labor = $12 per…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Solve it correctly last time incorrect solution provides Q) The marginal products of capital…

A: Given the output, cost is minimized when the following condition is satisfied : MPL/PL =MPK/PK It…

Q: If firm X produces 20 units of product with a total cost of 100, what is its average cost?    a)…

A: Total cost - Total cost is the cost which includes fixed cost and variable cost included in…

Q: true or false: suppose a company has short term production function is 1 1 y = xx .3 so, total…

A:

Q: A firm’s only variable factor is labour and it produces a single product, X. It also has fixed…

A: In production process, average variable cost and average product are negatively associated because…

Q: My candy bar company made 100 million bars last year, sold for $1 each. I also paid 100 people last…

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

Q: A firm has two plants that produce identical output. The costs functions are C,=10g-4q² + q³…

A: TC1 = 10q - 4q2 + q3  AC1 = TC1/q AC = 10 - 4q + q2 Average cost will be minimum when it's…

Q: K L Q 10 10 1 15 10 2 30 10 50 10 4 60 10 65 10 68 If the cost of labor is $20 per L and the cost of…

A: The firms, and businesses are the entities who are involved in the production of goods, and services…

Q: Fill in the gaps in the table below. (Enter your responses rounded to two decimal places.) Quantity…

A: A production function shows a unique relationship between inputs and outputs. Average product of a…

Q: When the average cost of producing each individual unit declines as total output increases is…

A: Production function shows the relationship between inputs and output. It reflects how changes in…

Q: Which factor of production is almost never included in a firm's fixed costs? Land Labor Capital All…

A: Land, labor, and capital are considered factors of production.

Q: 1 2. Short-run versus long-run costs and expenditur Aa Aa The following isoquants depict the…

A: In the long run, all the factors of production are variable whereas, in the short run, at least one…

Q: In the short term, the company produces 800 units of production. The average variable costs (AVC) 93…

A: Total cost (TC): - it is the sum of fixed and variable costs incurred in the production process.…

Q: Discuss the relationship that exists amongst the three short-run total cost curves. Motivate your…

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

Q: Indicate how each of the following would shift the (1) marginalcost curve, (2) average-variable-cost…

A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only the first…

Q: Marginal analysis (a.k.a. thinking at the margin) Multiple selects     assumes dimishing marginal…

A: Marginal analysis is the process of comparing additional benefits accrued to the additional costs…

Q: A firm is using 500 units of capital and 20O units of labor to produce 10,000 units of output.…

A: The Production function is a combination of Labor and capital f(K,L) = wL + rK where w= Price of…

Q: The total cost (TC) of producing computer software diskettes (Q) is given as TC-200+5Q. When Q=10,…

A: The monetary worth of goods and services purchased by producers and consumers is referred to as cost…

Q: If the price of the product is GH¢2.00 and cost per unit of labour is GH¢10.00, Complete the table…

A: The labor cost per unit is obtained by multiplying the direct labor hourly rate by the time required…

Q: The following is cost information for the Creamy Crisp Donut Company. Entrepreneur's potential…

A: Explicit costs are the actual out of pocket expenditures of a firm while implicit costs are the…

Q: The wage rate is $20 per hour and the cost of capital is $30 per hour. At the current output, the…

A: Under the theory of production, a cost minimizer firm produces at a point where the ‘MRTS(marginal…

Q: You are a manager for a company that manufactures office furniture. To estimate the production…

A: Given; Production function, Q = 2(K)1/2(L)1/2 Amount spend on 9 units of capital equipment = $8000…

Q: Exhibit 11-4 Units of Output Variable Cost Total Cost Marginal Cost (dollars) (dollars) (dollars) 80…

A: We know, Average Fixed cost (AFC) = (TC-VC)/q When the output = 4 units, at that point Total cost…

Q: B. SHORT-RUN PRODUCTION FUNCTION WITH Y=2 Units of Variable Average Total Product Marginal Product…

A: Formula to calculate AP and MP:- Average product:-                           AP=TPQ Marginal…

Q: Q)Suppose that a firm has only one variable input, labor, and firm output is zero when labor is…

A: PLEASE FIND THE ANSWER BELOW.

Q: Using Techniques Units of Variable Inputs Produce 1 unit of output K L 12 2 units of output A 14 12…

A: AVC the general variable value per unit of production is that the average variable value (AVC).…

Q: Solve the attachment.

A: In the production process, there are different costs related to it, such as variable cost, fixed…

Q: In the short run, a firm which has production function f(L, M) = 4L"²M² must use 4 machines. If the…

A: Answer to the question is as follows :

Q: If the marginal cost of producing the seventh unit of output is $9, then the total cost of producing…

A: The marginal cost is the change in the cost because of the change in the output. The marginal cost…

Q: If firm X produces 20 units of product with a total cost of 100, what is its average cost?    a)…

A: Total cost=total fixed cost+total variable cost

Q: The data in the table below represents Total product (TP), for an agri-business involved in potato…

A: Given, Capital (fixed factor) Labor (variable factor) Output(units) or Total physical…

Q: The data in the table below represents Total product (TP), for an agri-business involved in potato…

A: Here the capital is fixed and Labour is increasing it means the production function is of short run…

Q: Which of the following are likely to be fixed costs and which variable costs for a chocolate factory…

A: Fixed Cost refers to the cost that remains constant over a period of time irrespective of the amount…

Q: The additional cost of producing one more unit of output is calicu

A: A firms has fixed cost and variable cost. The total cost is the sum of fixed cost and variable cost.

Q: OUTPUT TOTAL COST 40 1 49 57 64 4 70 77 6. 85 : The TVC of producing 4 units of output is : The AFC…

A: "The total variable cost represented by TVC indicates the total of all the variable costs of inputs…

Q: 7. The unit price of production input K is 8 euros and the unit price of production input L is 10…

A: Answer: Given, Price of K = 8 euros Price of L = 10 euros Production function: Y=K/4+L To find:…