Assume that In the short run a firm Is producing 100 units of output, has average total costs of $200, and has average variable costs of $150. The firm's total variable costs are. Multiple Choice $15,000 $20.000. $50. $5,000.

Q: The Warren Watch Company sells watches for $27, fixed costs are $100,000, and variable costs are $14…

A: A variable cost is a corporate expense that changes in proportion to how much a company produces or…

Q: Assume that in the short run a firm is producing 100 units of output, has average total costs of…

A: Total cost = total fixed cost + total variable cost Now  ATC = $200, output = 100 ATC = TC /output…

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

A:

Q: The diagram shows the short-run cost curves of a firm. Which statement is CORRECT? costs output

A: OPTION A is correct. Curve 1 is Average Fixed Cost Curve AFC = TFC/Q Since TFC is positive at levels…

Q: firm is producing 100 units of output at a total cost of $800. The firm's average variable cost is…

A: Marginal Cost (MC): - it is the additional cost incurred due to the production of an additional…

Q: A firm's total product curve in the short-run may first increases at rate due to marginal returns,…

A: According to the law of variable proportions, when there is increase in marginal product, total…

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

A: Short run average cost curve is the per unit cost of production in the short run. In the short run,…

Q: A firm pays $500,000 per year on costs that it cannot alter in the short run. This year, it expects…

A: Cost Cost refers to any expense that incur in the process of production. Total cost is made up of…

Q: Cost £ AC Quantity per week Q Figure 3 Short run average cost curve for a firm Figure 3 shows the…

A: Cost refers to the value of all the inputs that are used up in the production of a good or in the…

Q: In the long-run, a company that produces and sells popcorn incurs total costs of $1,350 when output…

A: Economies of scale occur when the average total cost (ATC) decreases as output increases in the long…

Q: Assume that in the short run a firm is producing 200 units of output, has average total costs of…

A: Total fixed cost is a part of Total cost which remains constant. The total cost can be calculated…

Q: Assume that in the short run a firm is producing 1,000 units of output, has average total costs of…

A: Solving with the help of formula

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: A firm’s LAC curve is U-shaped and has its minimum point at an output of 25000 units per week. In…

A:

Q: n the short run, the Sure-Screen T-Shirt Company is producing 500 units of output. Its average…

A: Introduction: Short-run is a term that asserts that at least one input is fixed while others are…

Q: Assume that in the short run a firm is producing 500 units of output, has average total costs of…

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

Q: In the short run, when a firm produces 60 units of output, its total fixed cost is $120. Then the…

A: Total Cost is the sum total of fixed cost and variable cost incurred in the production of all the…

Q: Consider the following table of long-run costs for three different firms: Does each of the firm…

A: Economies and diseconomies of scale are the long-run phenomena related to cost of production of the…

Q: The long-run ATC curve of a competitive firm derives its shape from: * decreasing, then increasing,…

A: Answer: Correct option: C (economies, then diseconomies, of scale) Explanation: Initially, the…

Q: Suppose a shoes factory makes 100 pairs of shoes. At this level of production, they have $25 in…

A: Fixed cost is independent of output produced whereas variable cost varies with the level of…

Q: A firm's LAC curve is U-shaped and has its minimum point at an output of 25000 units per week. In…

A: LAC is often said to envelope curve or planning curve. Even it is U-shaped as in the entire…

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

A: The table below shows the long-run ATC which is made by analyzing the minimum costs that the…

Q: Cost £ AC Q Quantity per week Figure 3 Short run average cost curve for a firm Figure 3 shows the…

A: Average cost refers to the total cost per unit of output. It looks like a U-shaped curve.

Q: Q1. If fixed cost (FC) is $50, variable cost (VC) is $100, and output (quantity) is 3, what is…

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

Q: Consider a firm that is currently producing a level of output that maximizes its profits. The firm…

A: Given:  Revenue of the firm = $40 million per month. Worker Compensation = $30 million Renting of…

Q: Assume that in the short run a firm is producing 1,000 units of output, has average total costs of…

A: Here given that, Short run a firm is producing 1000 units of output , Q = 1000 units  Average total…

Q: In the long run a the firm's fixed costs are greater than its fixed costs in the short run. b all of…

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

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: List several Fixed and Variable costs, Explicit and Implicit costs associated with owning and…

A: Fixed costs are those costs that a firm has to incur even if it produces no output. Variable costs…

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: Suppose a hotel exhibits constant returns to scale as it increases its output. If it increases  all…

A: Returns to scale is about the relationship between input and output. It refers to the amount of…

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

A: Marginal cost is the cost incurred in making or procuring an additional unit of output.  For…

Q: In the long run , fixed costs are: a . positive and variable costs are positive . b . positive and…

A: Short run is the time period when some inputs are fixed because their quantity cannot be increased…

Q: Quest manufacturing incurs the following costs per unit: labor $100/unit, materials $50/unit, and…

A: Total cost is the sum of fixed cost and variable cost.

Q: If the price is less than the average total cost but higher than the average variable cost, then the…

A: In a competitive market, the firm maximize its profit when the market price of the firm is equal to…

Q: Increaseing marginal returns means that as the firm expands its output, its: OPTIONS long-run…

A: Increase in marginal returns: An increase in marginal returns refers to the variable input when an…

Q: The

A: This table shows three short - run cost schedules for three plants of different sizes and find long…

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: Assume a firm's short run total cost is STC = cSR = 10q + 10,/q + 10. Compute its marginal cost and…

A: Given  Firm's short-run cost function STC(q)=10q+10q+10             ... (1)

Q: 2.10 The long-run average cost curve for an industry is repre- sented in the following graph. Add…

A: The long-run average cost (LRAC) curve, which has a U-shape, plots all potential production levels…

Q: Total Total Average Average Average Output (Q) Fixed Variable Total Marginal Variable Fixed Total…

A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…

Q: Suppose the firm faces a price of $44, an average variable cost of $34, and has an average fixed…

A: Solution:- Option B- can cover all its costs. and option C- and will have a profit per unit of $5.

Q: 10 If a firm's short – run total cost function is TC = 20 + 10q? then its marginal cost at an output…

A: Here, short-run total cost function is given as: TC=20+10q2 To find: Marginal cost at the output of…