Are fixed costs considered to be anticipated or unanticipated costs? Are variable costs considered to be anticipated or unanticipated costs? Fixed costs are anticipated costs and variable costs are anticipated costs. Fixed costs are unanticipated costs and variable costs are anticipated costs. O Fixed costs are anticipated costs and variable costs are unanticipated costs. Fixed costs are unanticipated costs and variable costs are unanticipated costs.

Are fixed costs considered to be anticipated or unanticipated costs? Are variable costs considered to be anticipated or unanticipated costs? Fixed costs are anticipated costs and variable costs are anticipated costs. Fixed costs are unanticipated costs and variable costs are anticipated costs. O Fixed costs are anticipated costs and variable costs are unanticipated costs. Fixed costs are unanticipated costs and variable costs are unanticipated costs.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

See similar textbooks

Similar questions

he fixed costs for a certain item are $205 per week. The fixed cost is the y-intercept. The cost to produce each item is $4 per item.Using this information, what is the cost equation? Give your answer in slope-intercept form:y= The retailer intends to sell each item for $15/item.Using this information, what is the revenue equation? Revenue is the amount of money the retailer gets. Give your answer in slope-intercept form:y= f 21 items are made, what is the total cost to the retailer? What is the revenue from selling 21 items? Finally, what profit did the retailer make when they sell 21 items? Note: Profit = Revenue - Cost.
If you know that average variable cost is at a minimum, then you can deduce that marginal cost is higher than average variable cost. O marginal cost is equal to average variable cost. O marginal cost is lower than average variable cost. none of the available choices are correct. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
9 The average cost of producing 10 units is Rs 30, while the average cost of producing 20 units is Rs 20. Find the average cost of producing 30 units. {Hint : Find Fixed cost. TC of 10 units = Rs 300, TC of 20 units = Rs 400, VC = Rs 10/ unit Fixed cost = TC = FC + VC (10* 10) = 300 = FC + 100 = FC = 200. Thus, AC of producing 30 units will be Rs 16.67}
a. Why will firms in most markets be located at or close to the bottom of the longrun average cost curve? b. Distinguish between implicit and explicit costs. How is it possible to havepositive accounting profit and negative economic profit concurrently? c. Distinguish between economies of scale and constant returns to scale. What shape will the long-run average cost curve have for economies of scale andconstant returns to scale. d. What is the difference between production in the short run and production in the long run? Explain the shape of the long-run cost curve in relation to shortrun cost curves?
Bakery produces and sells grain bread. Monthly fixed costs are known, costs of raw materials and direct labour needed to bake one bread are given below as well. Calculate costs of raw material and direct labour needed to produce more pieces of bread. Then calcuate VC, TC, AC and MC. Quantity Fixed costs (EUR) Raw material costs (EUR) Direct labour costs (EUR) Variable costs (EUR) Total costs (EUR) Average costs (EUR) Marginal costs (EUR) 1 500.00 0.20 1.00 1.20 501.20 501.20 1.20 5 500.00 1.00 5.00 6.00 506.00 101.20 1.20 10 500.00 2.00 10.00 12.00 512.00 51.20 1.20 15 500.00 3.00 15.00 18.00 518.00 34.53 1.20 35 500.00 7.00 35.00 42.00 542.00 15.49 1.20 50 500.00 10.00 50.00 60.00 560.00 11.20 1.20 100 500.00 20.00 100.00 120.00 620.00 6.20 1.20 1,000 500.00 200.00 1,000.00 1,200.00 1,700.00 1.70 1.20 2,500 500.00 500.00 2,500.00 3,000.00 3,500.00 1.40 1.20 10,000 500.00 2,000.00 10,000.00 12,000.00 12,500.00 1.25 1.20
This is a repeated question since you guys only answerone question at a time! Let's assume that a firm's total weekly costs are as follows: 1. Salaries = $2,600. 2. Supplies = $400. 3. Rent = $800.In addition, the owners have invested their own money into the business. This could have earned them interest of $150 per week if they had chosen to put it into a bank instead of investing it into their business. If the firm has weekly revenue of $4,000, what are the firm's accounting profit and economic profit? Show your work please.
Consider the following cost information for a pizzeria:Quantity Total Cost Variable Cost0 dozen pizzas $300 $0I 350 502 390 903 420 1204 450 1505 490 1906 540 240a. What is the pizzeria's fixed cost?b. Construct a table in which you calculatethe marginal cost per dozen pizzas using theinformation on total cost. Also, calculate themarginal cost per dozen pizzas using the inforpmation on variable cost. What is the relationshipbetween these sets of numbers? Explain.
. What are the firm's fixed costs?$ c. What is the variable cost of producing 475 units of output (use least-cost)?$ d. How many units of the variable input should be used to maximize profits?e. What are the maximum profits this firm can earn?$ f. Over what range of the variable input usage do increasing marginal returns exist?From ___ to ____g. Over what range of the variable input usage do decreasing marginal returns exist?From ___ to ___h. Over what range of input usage do negative marginal returns exist?From ___ to ___ . What are the firm's fixed costs?$ c. What is the variable cost of producing 475 units of output (use least-cost)?$ d. How many units of the variable input should be used to maximize profits?e. What are the maximum profits this firm can earn?$ f. Over what range of the variable input usage do increasing marginal returns exist?From to g. Over what range of the…
Average total cost tells us the O 1) cost of the last unit of output, if total cost does not include a fixed cost component. 2) variable cost of a firm that is producing at least one unit of output. 3) O 4) total cost of the first unit of output, if total cost is divided evenly over all th units produced. cost of a typical unit of output, if total cost is divided evenly over all the uni produced.
Let's assume that a firm's total weekly costs are as follows: 1. Salaries = $5000. 2. Supplies = $1000. 3. Rent = $600. In addition, the owners have invested $30,000 of their own money into the business. This could have earned them interest of $100 per week if they had chosen to put it into a bank instead of investing it into their business. If the firm has weekly revenue of $20,000, the firm's accounting profit is ____________, and the economic profit is _____________. Loss of $18,987; profit of $5,690 Loss of $16,600; loss of $16,700. Loss of $16,700; loss of $16,600. $13,300; $13,400. $13,400; $13,300.
Your cousin Vinnie owns a painting company with fixed costs of $200 and thefollowing schedule for variable costs:Calculate average fixed cost, average variable cost, and average total cost for eachquantity. What is the efficient scale of the painting company?
True/False: 1. Implicit costs are those costs, which have been incurred in the past and cannot be recovered bycurrent decisions.2. It is possible for the economic profit and accounting profit to be equal to one another.3. If Ed<1, an increase in price leads to higher revenue.4. In the long run, at least some of the inputs should be variable.5. Production is a transformation of resources in to goods and services.