A firm’s marginal cost is the increase in its total cost divided by the increase in its ( A Average cost. B Quantity of labour. C Average revenue. D Output E Capital.

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: 1. Based on the above table, does the firm operate in short run or long run?WHY? 2. Based on the…

A: The missing entries in the cost table of the firm have been computed as follows:  Quantity Fixed…

Q: In the short run, a tool manufacturer has a fixed amount of capital. Labor is a variable input The…

A: Marginal Revenue product = Price * Marginal Product Equilibrium wage rate is determined at that…

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: Peter's Pipers producers plumbing pipe. The long-run total cost of Peter's pipes is LTC =…

A: Average cost is the ratio of total cost and quantity

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: True or False. Please explain The production function f(x1,x2,x3) = (min{0.5x1;0.75x2 })0.5 ·x30.5…

A:

Q: ii) Listed in the table is the short-run total cost for Firm C. Output 1 2 3 4 Cost 20 39 57 74 90…

A: The diminishing return means the marginal cost should increase as the output increases.

Q: A company has the following output and total costs. It can sell each Calculate the average and…

A: marginal cost is the additional cost incurred in order to produce an additional unit of output.

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: Fertilizer Q TFC TVC TC MC ATC AVC AFC TR MR 25 70 1300                   100…

A: The formula used to calculate different costs are : TC = TFC + TVCAFC = TFCQAVC = TVCQATC = AFC +…

Q: A firm’s marginal product will be at a maximum at which of the following levels of output?…

A: To determine the level of output at which a firm's marginal product will be at a maximum.

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

A: Explicit Costs or the Accounting Costs refer to the actual monetary payments made during course of…

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: 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: Distinguish between explicit and implicit costs, giving examples of each. Why does the economist…

A: Externalities: It occurs in the economy when the production of goods and services and the…

Q: When marginal product increases, marginal cost increases. True False

A: Marginal product is the additional output produced by the additional worker or the change in the…

Q: X and Y are factors of production. X's marginal product is 30 and Y's marginal product is 20. X=5…

A: Total cost is minimized when (MPx / Px) = (MPy / Py) Here, MPx / Px = 30/5 = 6 MPy / Py = 20 / 4 = 5…

Q: Which of the following is the extra, or additional, cost of producing one more unit of output?…

A: While producing the output, the producers majorly incur two kinds of costs, for example, the…

Q: The government imposes a $1,000 per year licensefee on all pizza restaurants. As a result, which…

A: Costs are the expenses incurred by a firm in the production of its output. In production, there are…

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: Compute the long-run costs in the following table. The price per unit of capital is $50 and per unit…

A: Given: Price per unit of capital=$50 Price per unit of labor=$30 The durable goods that are being…

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: Give business examples of short-run costs, economies of scale, and minimum efficient scale (MES).

A: At the Mininum effiecient scale point, the company could achieve the economies of scale being…

Q: a) What is the Long-run cost function if the production function is q = L+ K ? b) Many marginal cost…

A: MARGINAL COST CURVE: A graph that depicts the link between a firm's incremental cost within the…

Q: Consider the following information on long run total costs: Output 1 2 3 4 5 6. 7 Total Costs 50 90…

A: Output Total Cost Marginal Cost ATC 0 0 0 0 1 50 50 50 2 90 40 45 3 123 33 41 4 160 37 40…

Q: .Suppose a production technology of a firm is represented as Q(K, L) = A[aK¯b + (1 – a)L-"] (A > 0;…

A: Given  Production function: Q(K,L)=AaK-b+1-aL-b-1b              ............ (1) where A>0;…

Q: In the short run, a tool manufacturer has a fixed amount of capital. Labor is a variable input. The…

A: We have to calculate The equilibrium wage rate and equilibrium level of labour use.

Q: Which cost inc with the increase in production? (a) Average cost. (b) Marginal cost. (c) Fixed cost.…

A: According to the given question The cost in economics are usually defined as the amount of the…

Q: 3. For the technologies y=min- ,4x, } and y=- +x, compute: 4 a) the total cost and the cost of…

A: TC = total cost MC= marginal cost AC= average cost.  The prices of inputs are (4,6)

Q: Q. %3D W=r=| C= LtK What is the LoNG Run:TC, AC, MC TOTAL COST Average Total cost Marginal lost

A: Production Function : Q=L1/2K1/2 Cost of Labor=wage=1 Cost of capital=rental rate=1 Cost=wL+rK…

Q: Find the attached file.

A: Long run cost is the cost where there are no fixed factors of production. In short run, some factors…

Q: Emco Company has an assembly line of fixed size A. Total output is a function of the number of…

A: Hello, thank you for the question. Since there are multiple sub-part questions asked here, only the…

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

A: Average cost is the cost of producing one unit of an output. Average cost is calculated as the ratio…

Q: Define fixed and variable costs of production. Why do you think bigger firms may have a lower…

A: 1. Variable costs tend to vary based upon the amount of output being produced. They include…

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: Question attahed in image

A: A firm incurs two types of cost, fixed cost and variable cost. A firm’s total fixed cost is a cost…

Q: Emco Company has an assembly line of fixed size A. Total output is a function of the number of…

A: Given: To Find: The marginal productivity of labor, the average productivity of labor, and the…

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: Nimbus,Inc.,makes brooms and then sells door to door.Here is the relationship between the number of…

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