At the end of the year, a firm produced 20,000 laptop computers. Its total costs were $10 million, and its fixed costs were $5 million. What are the average variable costs (to the nearest dollar) of this firm? $.

Q: Question 22.22.   The following cost data are for a firm in the short run:  Output  Total Cost 0…

A: The average variable cost (AVC) is the total variable costs per unit of output. Thus, AVC=TVCQ Where…

Q: The table shows the cost information for a farm when the farm has three different amounts of…

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

Q: (a) Prepare (i) marginal cost and (ii) average total cost schedules for the firm. (b) What is the…

A: Cost theory includes calculation of total costs, total fixed costs and total variable costs. In this…

Q: Please define the long cost curve and the short run cost curve in your own words but not more than…

A:

Q: Explain the difference between fixed costs, sunk costs and variable costs. Provide an example that…

A: The total cost refers to the market value of inputs used by the firm in the production of goods and…

Q: If you know that with 8 units of output, average fixed cost is $12.50 and average variable cost is…

A:

Q: What are some key fixed and variable costs for this business? Remember fixed costs do not change…

A: Variable costs will be costs that change as the quantity of the great or service that a business…

Q: Suppose an artist produces 6 paintings. If fixed costs are $200 and variable costs are $100, then…

A: There are mainly two type of cost , FIXED COST and VARIABLE COST which is used in production ,…

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: 39) If the marginal cost curve is below the average variable cost curve, then A) average variable…

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

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: 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: A car company has fixed costs of $20, 000. Its marginal costs are given in the table below. Fill in…

A: We have been given with the table of costs. The table has been filled correctly.

Q: Suppose that a small family farm sold its output for $100,000 in a given year. The family spent…

A: Given: Fuel=$25000 seed, fertilizer, and pesticides=$40000 Equipment=$25000 Other occupations=$20000

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: Given the cost information below, answer the following questions. Output Total Cost $ 40.00 10…

A: a.Total fixed cost is equal to total cost when output is…

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

A: There occurs economies of scale when average cost decreases with increase in production,…

Q: Answer the question of the production cost as follows: 1.1  Based on Table below, calculate average…

A: You have posted multiple question, as per guidelines we will solve one question at a time.  Given…

Q: Average total costs are falling Average total costs are rising Average total costs are minimized O…

A: Average total cost is alluded to as the aggregate of all creation costs partitioned by the total…

Q: How would an improvement in technology, like the high-efficiency gas turbines or Pirelli tire plant,…

A: Here, an improvement in the technology used, would decrease the cost and will shift the cost curve…

Q: With fixed costs of $400, a firm has average total costs of $3 and average variable costs of $2.50.…

A: Given:  Total Fixed Cost = 400. Average Total Cost = $3 Average Variable Cost = $2.50

Q: During the previous month, a firm produced 250 tablet devices at an average variable cost of $40 and…

A: Given:Average variable cost=$40 Average fixed cost=$10Total output=250 tablets

Q: Suppose that you and your roommate have started a Doughnut delivery service on campus. List some of…

A: Total Fixed Cost (TFC) : It refers to that part of the total cost that does not depend on output. In…

Q: Consider the following table of long-run average total costs for a firm. Does the firm experiences…

A: please find below  the answer.

Q: A firm with positive fixed costs encounters CRS and then DRS as it expands production. Show the…

A: Constant return to scale where MP is a horizontal line and In Diminishing returns to scale MP is…

Q: Others things equal, if the fixed costs of a firm were to increase by $100,000 per year, which of…

A: Others things equal, if the fixed costs of a firm were to increase by $100,000 per year, which of…

Q: Quantity Total Fixed Costs Total Variable Costs (Dollars) (Dollars) 0 180 0 1 180 80 2 180 140 3 180…

A: 1) Variable Cost is the cost when nothing is produced therefore when output is zero variable cost is…

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: Graph the Average Total Costs, Average Variable Costs, and Marginal Costs on the same graph.

A: Average total cost is total cost divided by quantity.  ATC = TC / Q ------------------- Average…

Q: List several fixed and variable costs associated with owning and operating an automobile. Suppose…

A: The fixed cost is incurred whether an activity take place or not. The variable cost varies with the…

Q: 22. What does the Long Run Average Cost curve depict? a) It depicts the relationship between Average…

A: Long-run average total cost (LRATC) is a business metric that addresses the average cost per unit of…

Q: a) Find the short-run TC, TVC, and TFC curves for this production process. Sketch them on a single…

A: Q = f(K, L) = 3KL When K = 4, Q = 12L L = Q/12 TC = wL + rK = 24 x (Q/12) + (2 x 4) TC = 2Q + 8 TVC…

Q: Use the following information to determine the total fixed costs, total variable costs, average…

A: The total cost consists of fixed costs and variable costs. The fixed costs do not vary with the…

Q: A firm's fixed costs for 0 units of output and its average total cost of producing different output…

A: To fill out this table we need to use the following formulas: Total cost=Average total…

Q: Explain how a firm is able to deal with both fixed and variable costs at the same time

A: Fixed cost is the cost of production which does not change or constant whatever the amount of good…

Q: Suppose a firm has a short-run cost function: C(9) = 1000 + 200g Question 3. 5q + 0.5g. What are the…

A: Variable costs are any expenses that change based on how much a company produces and sells. This…

Q: Quantity Total Fixed Costs Total Variable Costs (Dollars) (Dollars) 0 180 0 1 180 80 2 180 140 3 180…

A: Solution: (a)Formula used (i) Total cost (TC) = Total fixed cost (TFC)+ Total variable cost (TVC)…

Q: The blue line on the following graph shows a firm's daily costs for the first 90 days of the fiscal…

A: The area of shaded region will be equal to area of triangle OAB minus area of triangle OCD

Q: Why do most fixed costs become variable costs in the long run?

A: Variable costs- Due to the sum of a product or service being generated, variable costs change. The…

Q: A garment factory has total fixed costs of $300,000 per year. The firm’s average variable cost is…

A: The provided information are: Total fixed cost = $300000 Average variable cost = $80

Q: The cost structure of a manufacturer of microchips is described in the table in the next column. The…

A: Average total cost:Average total cost can be calculated by using the following formula:

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

A: Here, total output given is 1,000 units. Average total cost is $100. Average total cost is defined…

Q: 23. The following table represents the short-run total cost schedule of an energy drink…

A: The total cost incurred by a firm in the short run includes fixed costs and variable costs. Fixed…

Q: Question 22.22  The following cost data are for a firm in the short run:  Output  Total Cost 0 $400…

A: Average variable cost is the total variable cost per unit of output produce by a producer or firm.…

Q: Marginal cost _1. The additional cost from an additional unit of output produced. Production…

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