At what level of output is average cost a minimum? What is the average cost (AC) at that output? What is the Marginal Cost (MC) at that output?

4. Various measures of cost Douglas Fur is a small manufacturer of fake-fur boots in San Francisco. The following table shows the company's total cost of production at various production quantities. Fill in the remaining cells of the following table. Average Variable Cost (Dollars per pair) Average Total Cost (Dollars per pair) Quantity Total Cost Marginal Cost Fixed Cost Variable Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars) 120 1 210 2 270 3 315 4 380 5 475 630

The government imposes a $1000 per year license fee on all pizza restaurants. As a result, which cost curves shift? average total cost and average fixed cost average total cost and marginal cost average variable cost and marginal cost O average variable cost and average fixed cost

Use the table below to answer the following question. Units Total Fixed Cost Total Variable of Output (dollars) Cost (dollars) 1 150 25 2 150 48 3 150 70 150 100 What is the marginal cost (MC) of producing the fourth unit of output?

The manager of a T-shirt stand found that the cost to produce 10 T-shirts is $105.68, while the cost to produce 40 T-shirts is $402.98. Assume the cost​ C(x) is a linear function of​ x, the number of T-shirts produced. Calculate the marginal cost of a T-shirt, that is, the change in cost of producing one additional T-shirt. (Round to 2 decimal places)

Suppose the imaginary company of Panthera is a small, Raleigh-based American apparel manufacturer specializing in athleisure. The following table presents the brand's total cost of production at several different quantities. Fill in the remaining cells of the following table. Quantity Total Cost (Pairs) (Dollars) Marginal Cost (Dollars) Fixed Cost Variable Cost (Dollars) (Dollars) Average Variable Cost (Dollars per pair) Average Total Cost (Dollars per pair) 0 120 1 210 2 270 3 315 4 380 475 6 630

Explain why the average variable cost curve and the average total cost curve get closer to each other as output increases.

How would you derive marginal cost from total cost?

A movie club charges a one-time membership f $25. It allows members to purchase movies for each. Another club does not charge a membersh fee and sells movies for $12 each. How many mc must a member purchase for the total cost of th two clubs to be equal?

Use the cost table below to find the following marginal costs. Output quantity Total variable Total fixed Total cost cost cost 20 80 60 140 40 140 60 200 60 210 60 270 80 300 60 360 100 420 60 480 120 600 60 660 140 840 60 900 What is the marginal cost when output is 20? $ What is the marginal cost when output is 80? $ What is the marginal cost when output is 120? $ |