A) What is the differences between marginal product and marginal cost. Write short note and support your answer by graph.

Q: Table showing Total Cost and Quantity of Output Quantity of Total Average Total Marginal Cost Output…

A: Average total cost of the total cost per unit of output. Marginal cost is the change in total cost…

Q: his refers to the ratio of a small increment of cost and a small increment of output. a. Increment…

A: Below is the formula for marginal cost:

Q: 1. Show and explain the relationship between total cost, marginal cost and average variable cost

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Q: In a short-run production process, a diminishing marginal product of labor explains why marginal…

A: Diminishing Marginal product means that the increase in the output from the additional labor…

Q: Use the following information to answer the question Quantity (number ofFixedVariable Total Marginal…

A:

Q: Figure 7-4 Quantity of Output Total Fixed Cost Total Variable Cost $25 $25 $25 $25 $25 $10 $15 $25…

A: TC(total cost) is calculated as the sum of TFC(total fixed cost) and TVC(total variable cost), where…

Q: 7. Data for Windsurfing Sail Firm Q = Quantity; FC = Fixed Cost; VC =Variable Cost; TC =Total Cost;…

A: We have given the data for fixed cost and variable cost for the output level from 0 to 7 Q FC VC…

Q: Question 4 Use the following table for the (i),(ii) and (iii) questions.   Quantity Total…

A: (i)The marginal cost is the additional cost incurred to the firm while producing an additional unit…

Q: If the government says that firm X must pay 50000 in taxes simply because it in the business…

A: In a market, government imposes different types of taxes on different products and services based on…

Q: 9. What is the relationship between Marginal Cost and Average Total Cost?

A: The total amount paid for resources used to produce a product or to create a service, such as…

Q: What is the relationship between marginal product and marginal cost?

A: The firms, and businesses tend to operate in the markets, where they supply various goods, and…

Q: DEFINE AND EXPLAIN PRODUCTION IN SHORT RUN

A: In the production process, different inputs are used to produce the final output. Each input has its…

Q: True or false 1-If the marginal product of labor is increasing, the marginal cost of production…

A: 1)Due to increase in marginal product,efficiency would increase,therefore cost would decrease.…

Q: true or false When marginal product is zero, profit is at its maximum level.

A: Marginal Product is the change in the total product when the input employed changes by 1 unit. So if…

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: In the table, the firm's total fixed cost of production is Total Cost Output (ballo ons per hour)…

A: Answer to the question is as follows :

Q: 1. The cost of producing 5 gallon water bottles is given by C(q) = 0.005q2 + 2q + 1000.  If 2000 5…

A:

Q: bath the marginal cost and the average variable cost curves are U-shaped, at the minimum point of…

A: Average total cost is the sum of average Fixed cost and average variable cost. It is referred as…

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: 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: 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: Directions: Fill in the table.Units of Output Total Costs Total Fixed Costs Total Variable Costs…

A: Cost can be defined as a monetary valuation of efforts, material, resources, time and utilities…

Q: a. Calculate and fill in the column of marginal products. What pattern do you see? How might you…

A: Marginal product of labor refers to the amount of additional output that obtained by increasing one…

Q: In a short-run production process, a diminishing marginal product of labor explains why marginal…

A: Diminishing Marginal product means that the increase in the output from the additional labor…

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: 38. Graphically, where is average fixed cost (AFC)? It is below price but above average variable…

A: "Cost refers to the value of money that is spent on production or other economic activities." "Fixed…

Q: The Trouser Company has fixed costs of 2,400 per week. In addition, we have some information about…

A: The followings are the formula to calculate the AVC, AC, and MC: Average Variable Cost (AVC) =…

Q: When a toy factory makes x dolls a day their total cost is C(x) = 50 + 9x + 0.02x² dollars. What is…

A: ANSAverage Cost (AC) is the per unit cost of the output. It is obtained by dividing the Total Cost…

Q: Use the following information to answer the question Quantity (number ofFixed Variable Total Margina…

A: Cost refers to all the expenditure and expenses that incur in a production process of goods and…

Q: Use the table to answer the uestion below: Quantity          Total Cost  0…

A: Total fixed cost (TFC): - it is the cost incurred on the fixed capital assets like land, building,…

Q: Question 4 Copy the table below into your answer booklet and fill in the missing figures: Output…

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

Q: a. Complete the following schedule, if the fixed cost = BD 700. (Note: you will receive full marks…

A: Here, output and total cost is given with the fixed cost of BD 700 and the formulas related to other…

Q: Please help me to answer Q8

A: Question 8:Marginal Cost: It refers to the additional cost incurred when one more unit of a good is…

Q: 1. A firm produces 200 units and total cost of production is $4000. When they increase output to…

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

Q: 4) What is the total variable cost?

A:

Q: FIGURE 7-3 $100 90 80 70 40 30 20 10 1 2 3 4 5 6 7 8 9 10 Quantity of Output Refer to Figure 7-3.…

A: please find the answer bThe marginal cost (MC) curve is calculated by dividing the change in total…

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: When marginal cost equals average toal cost, average total cost, (Click for List) rising at a…

A: Marginal cost is change in total cost divided by change in output. Average cost is the cost per unit…

Q: A special shoe manufacturer ABC Co. has costs of production as follows and solve all the subparts:…

A: ABC Co. has a variable cost of $100.  We can have the quantity produced and total variable cost in…

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: What is the difference between decreasing returns to scale and diminishing marginal product?

A: Meaning of Law of Variable Proportions: The term law of variable proportions refers to the…

Q: How profit is different from the incorporating normal profit and when the normal profit is into…

A:

Q: Define economies of scale and explain why they might arise. Define diseconomies of scale and explain…

A: Define economies of scale and explain why they might arise. When the long-run average total…

Q: statements is true or false and explain If marginal cost is larger than average cost, average cost…

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

Q: Three college students are considering operating a tutoring business in economics. This business…

A: A) $9,000 (facility rent + insurance) B) $0.50 per hour (materials & supplies)

Q: What is the difference between marginal product and marginal cost?

A: The marginal product is the additional output produced by an additional unit of input in the process…

Q: At Emory's Pens and Pencils when they produce 50 pens their total cost is $80. Emory's marginal cost…

A: Average Total Cost (ATC) can be calculated by dividing the Total Cost (TC) by Quantity (Q).

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

A: