Average Variable Cost is

Q: Marginal cost is the slope of both the average variable cost and the variable cost functions. Select…

A: Marginal cost is the change in total cost or total variable cost per unit change in output.

Q: why is the fixed cost 10?

A: Fixed cost doesn't change with the change in the number of output.

Q: Calculate average cost when total cost is 300 and quantity is 15

A: # The average of the total cost which we spend on a single good is given by the average cost.…

Q: economies of scale, followed by diseconomies of scale. increasing costs, followed by decreasing…

A: The average cost is the per unit cost of production . It can be determine by dividing the total cost…

Q: The government imposes a $1,000 per year license fee on all pizza restaurants.  As a result, which…

A: License fees are generally considered to be fixed costs. It is the money paid by a person using…

Q: When average total cost is at its minimum a.marginal cost is equal to average fixed cost. b.average…

A:

Q: Distinguish between/among The short run average fixed cost, average variable cost and average total…

A: In the short run the inputs are both fixed and variable, so all the costs incurred are also fixed…

Q: Can you differentiate which is the best and which is the worst between Constant Cost Condition,…

A: In a perfectly competitive market, the long-run industry supply curve explains the relationship…

Q: Find total cost if average cost is $11 and the output is 24 units

A: Average Cost (AC): - it is the average value of total cost incurred on a specific unite of output.…

Q: Average total cost is equal to:

A: Total cost is the sum of total variable cost and total fixed cost i.e., TC = TVC + TFC Total cost…

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

A:

Q: When a firm produces 600 widgets with total cost of $1,300 and fixed cost of $800, what is the…

A: The variable cost per unit is the average variable cost.To calculate the average variable cost,…

Q: Classify the Costs for Predicting Cost Behavior?

A: Every company incurred the costs to produce goods and services. For example labor cost, and…

Q: Cost functions are derived from

A: # Cost function is a representation which helps in predicting the cost of good or service with…

Q: When the marginal cost curve lies below the average total cost curve, it is true that as output…

A: Answer to the question is as follows:

Q: Average Cost falls when a. Marginal cost is greater than average cost b. Marginal cost is equal to…

A: Marginal cost and average cost are derived from the Total cost there is a relationship between the…

Q: Find 10 problems related to variable cost and solve it.

A: Variable cost is such a cost which vary directly with the level of output. They can be of two types…

Q: Diseconomies of scale exists over the range of output for which the long run average cost curve is?

A: Diseconomies of scale exists over the range of output for which the long run average cost curve is…

Q: Define Fixed Cost and provide an example.

A: A company's fixed expenses are critical. Profit forecasting and calculating the break-even point are…

Q: Identify a fixed cost

A: A fixed cost is referred to as the cost which would not change due to an increase or decrease in the…

Q: The minimum average cost occurs when the average cost is equal to the marginal cost.

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

Q: If marginal cost is equal to average total cost then, (a) Average total costs are falling (b)…

A: Marginal cost depicts additional cost incurred in order to produce an additional unit of output.

Q: Which of the following must be falling when the short run marginal cost is less than it, and rising…

A: Total Cost is the sum of the Total Variable Cost and Total Fixed cost of any firm. Total Fixed is…

Q: Find the average cost function for each firm

A: Total cost is the expenditure that is incurred in the production of goods and services. It is the…

Q: average variable cost

A: a. Total cost incurred for 0th unit will be the fixed cost i.e., $12. Deducting this from Total cost…

Q: Differences between implicit cost and explicit cost

A: Explicit costs are defined as those costs which leads to an outlay of cash from the business. It is…

Q: What are a total variable cost and average variable cost?

A: Total Variable costs are those costs that change when the input changes. For example-wages, when…

Q: Average total cost intersects marginal cost at minimum marginal cost. True False

A:

Q: Explain economies of scale and how to determine if a firm is experiencing it or not from their cost…

A: In a market, economies of scale is considered as one of the competitive advantage of a firm.

Q: When average cost decreases as output increases, Group of answer choices marginal cost is below…

A: The economies of scale curve is a long-run average cost curve since it permits all variables of…

Q: When marginal cost exceeds average total cost, a marginal cost must be rising. b average total cost…

A: MC(marginal cost) & ATC(average total cost) are both U-shaped curves and MC cuts/intersects ATC…

Q: When the average total cost curve is at its minimum, we know that the: a. marginal cost curve is…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: If accounting profit is $400000 greater than economic profit, what do implicit costs equal?

A: Implicit cost: A certain expense is any cost that has just happened yet not appeared or detailed as…

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: how to calculate total cost analysis

A: Objectives to calculate total cost analysis : Understand and define the critical variable and fixed…

Q: Marginal cost is ________ average variable cost when ________. A) equal to; average total cost is…

A: In economics total cost refers to the market value of the inputs used by the firm in the production…

Q: As long as marginal cost is below average cost, average cost will be a. falling b. rising. .…

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

Q: The total cost equation for producing X widgets is given by TC = $1,000 + $6X. The variable cost per…

A: Costs are the expenses that firms incur in the production of goods and services.

Q: Which of the following is not a fixed cost?

A: Fixed cost refers to a cost that does not change with an increase or decrease in the number of goods…

Q: What is the average variable cost of producing 400 units of output?

A: Answer: Given that:      Labor  Output   Marginal Cost  Variable Cost  Fixed Cost  0  0    0  5…

Q: Average cost is defined as __________

A: In economics we come across the term total cost which shows the relationship between cost incurred…

Q: Explicit cost = $100 Implicit cost = $163 Total cost = ?

A: Generally in the question, Explicit cost value is = $100 Implicit cost value = $163 We need to find…

Q: Why does INCREASING COST CONDITION is the best while DECREASING COST CONDITION is worst?

A: Total cost: The term total cost encompasses fixed costs and variable costs. here, the fixed cost…

Q: Why the average variable cost (AVC) and average total cost (ATC) curves are U-shaped (decreasing,…

A: Average variable cost (AVC) The average variable costs (AVC) are calculated by dividing total fixed…

Q: Identify a variable cost

A: Variable cost is a cost that changes according to the quantity. It is calculated by subtracting…

Q: The additional cost of producing one more unit of output is called Variable cost. b. Total cost. C.…

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: Marginal variable costs and marginal total costs are the same. True False

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