After one month of operation, OO Café determined to shorten its business hours and close on weekends. What costs, fixed or variable, should OU Café have considered when it made the decision? Explain in detail.

Q: Define different types of costs. Explain Fixed and Variable costs with the help of examples.

A: Types of cost in short run Fixed Costs (FC) It is the cost of fixed factors.The costs which don’t…

Q: The total cost of production equals Select one: a. average total cost + average variable cost b.…

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

Q: Economic cost and accountant cost are not equal. Why aren’t they equal? Explain with example

A: Maintaining a business demands that you keep a heartbeat on the monetary components that influence…

Q: 1.A producer borrows money and starts a business. List and explain which of the following is a fixed…

A: Fixed Cost: The cost which does not depend on the level of output or activity. Variable Cost: The…

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: After one month of operation, UCC Cafe decided to shorten its business hours and close on weekends.…

A: When UCC cafe reduced business hours and weekends holiday. It considered variable cost.

Q: What are the variable costs?

A: Variable cost refers to those costs that are changed along with the changes in the production. In…

Q: The first two units of a product cost a total of $9,000 to produce. If you believe an 80 percent…

A: Production cost = Original Cost * learning rate ^log 2 n.....(equation 1) The given learning rate is…

Q: Three departments-milling (M), drilling (UJ, three work areas in Victor Berardis's machine shop in…

A: Workpiece feet from M to D = 22 * 9 = 198Workpiece feet from M to S = 34 * 5 = 170Workpiece feet…

Q: Define a variable cost and a fixed cost. What causes changes in these costs? Give two examples of…

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

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: When average product increases, which short-run cost variable also changes? The output range over…

A: Marginal cost refers to the change in total cost with respect to change in output. Average total…

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

A: Marginal cost is the measurement of change in the total cost with the increment of one unit of…

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: What are examples of fixed and variable costs in a fast food restaurant?

A: Total fixed cost (TFC)is defined as those cost which a firm must pay irrespective of its level of…

Q: At zero output the total cost is 10 dollars and 20 dollars at one unit of output, the total fixed…

A: Total cost is the sum of fixed cost and variable cost in which fixed cost is independent of output…

Q: The table below shows the monthly cost of producing vintage model cars for cc Instructions: Enter…

A: Total cost is the cost incurred by the producer for producing all the goods. The obtain total cost,…

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: A firm producing 1000 units at a total cost of $5000, if it were to increase production to 1001…

A: "Input refers to the raw materials, factors of production or resources used in the process of…

Q: Quick Check Multiple Choice No (3) A firm is producing 1,000 units at a total cost of $5,000. If it…

A: Marginal cost refers to the additional cost of producing an extra unit of output. Average variable…

Q: a small photography studio with 7 workers and 4 The total cost of labor and capital is $3,400. In…

A:

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

A: (1.) A producer borrows money and starts a business. He himself looks after the business. Identify…

Q: firm has fixed costs, then its ________ cost exceeds its ________ cost. a.average total; average…

A: Here, Q = quantity  ATC = average total cost  TVC = total variable cost AVC = average total cost…

Q: Jacob, a chef who lives in the community, is really excited to start his own cookbook. He found a…

A: STEP 1: The break point is the point where a firm neither earns profit nor incur loss. At this point…

Q: The following incomplete table describes the costs faced by a firm as it produces an increasin,…

A: fixed cost is independent of output produced.

Q: The publisher of a new book figures fixed costs at $92,000 and variable costs at $2.10 for each book…

A: At the breakeven level of production, the firm will be exactly covering its total cost with the…

Q: Suppose a firm producing cell phones is operating such that marginal costs are much lower than…

A: The marginal cost of the firm is the cost it will incur by producing one additional unit of output.…

Q: Explain why Decreasing cost condition is the best while Increasing Cost Condition is not good

A: Answer to the question is as follows :

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

A: Answering first question as per guidelines. Explicit Costs refer to actual payments made for…

Q: Classify the following milk bar short-run costs as fixed cost or variable cost  Milk truck Fruit…

A: The short-run is the time period when there is at least one factor which is fixed and cannot be…

Q: At the end of the year, a firm produced 20,000 laptop computers. Its total costs were $10 million,…

A: The variable cost: The variable cost can be calculated as follows: Thus, the value of variable cost…

Q: e Excel to show formulas used  Amazing is evaluating three locations for a second headquarters.…

A: Break even point = Fixed costs / (sales price per unit – variable cost per unit) · Location A Break…

Q: Which type of cost does depend on a firm's output? 1.marginal cost 2.total cost 3.variable cost…

A: Total Cost: The sum of variable costs and fixed cost is termed as the total cost. Total Cost =…

Q: Scott owns a law-enforcement training operation in Boise, Idaho. He employs three trainers. The last…

A: Scott's total cost increased by $466 because of hiring the last trainer who brought in one new…

Q: Variable costs are         sunk costs.        costs that change every day.        costs that change…

A: Total Cost refers to all expenses involved in producing a good or providing a service.  It has two…

Q: a software production firm, average product has started falling and total output indicated…

A: A mathematical association between marginal product(MP) and average product(AP) expressing that the…

Q: A company is planning to manufacture mountain bikes. The fixed monthly cost will be $100,000 and it…

A: Since you have asked a question with multiple subparts, we answer the first three for you. If you…

Q: Which of the following are true? (check all that apply) a.the average fixed cost is increasing if…

A: Note : Since the question has multiple sub parts , only the first three sub parts shall be answered…

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

A:

Q: The following table depicts the costs of a single firm: Quantity Produced Hours of Labor Variable…

A: Basics:- Fixed cost :- It is a type of cost which does not change in short run at any level of…

Q: If marginal cost is less than the average variable cost and output increases, average total cost…

A: Total cost is the sum of total variable cost and total fixed cost. Total variable cost changes with…

Q: A firm is producing 1,000 units at a total cost of $5,000. If it were to increase production to…

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