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: When average total cost is at its minimum a.marginal cost is equal to average fixed cost. b.average…
A:
Q: A local entrepreneur has built a successful business which is still growing. He is aware that the…
A: A local entrepreneur has built a successful business which is still growing. He is aware that the…
Q: Use the equations for the total cost C and total revenue R to find the number x of units a company…
A: A firm breaks even when it makes zero economic profit. It is a situation of no profit no loss.
Q: Find the value of the profit when the total revenue is $65 billion and total cost is $25 billion?
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Q: What would be the value of economic profit if explicit cost is $200, implicit cost is $150 and total…
A: The data presented in the question above is:- Explicit cost of the firm = $200 Implicit cost of firm…
Q: Find economic profit if total revenue is $4000 , explicit cost is $700 and implicit cost is $500
A: The data presented in the question above is:- Total revenue = $4000 Explicit cost = $700 Implicit…
Q: A firm is producing 20 units with an average total cost of $25 and a marginal cost of $15. If it…
A: Average total cost is total cost divided by total output produced, ATC = TC / Q Marginal cost is…
Q: Find average revenue if output is 100 units and total revenue is $2000
A: The information being given to us is:- Total revenue of firm = $2000 Output = 100 units We have to…
Q: The manager of a men's store can sell 24 pairs of socks at a price of $2.31 per pair. If the price…
A: Profit function , which is the excess of revenue function over cost function, shows how business…
Q: Use the information in the graph to the right to find the values for the following at an output…
A: Total cost refers to the total amount of money that a producer pays to the factors for production…
Q: It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake. A cupcake is sold for…
A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only first three…
Q: If the firm is maximizing its profits when the price is $12, its total cost is: a) $1200 b) $700…
A: A competitive firm maximizes profit by producing at P=MC
Q: Find the economic profit when the total revenue is 21,000 and the total cost is 14,000?
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Q: A printer quotes a price of $7, 500 for printing 1,000 copies of a book and $15, 000 for printing…
A: Cost for printing 1500 Copies = Cost for Printing 2500 Copies - Cost for Printing 1000 Copies =…
Q: If the total quantity is 100, the average fixed cost is 10, then we can say that the total fixed…
A: Fixed cost is that cost which remains the same irrespective of the quantity produced by the firm.
Q: We expect the marginal cost to increase as this firm produces more computers. But when the firm…
A: The rise or fall in the cost of producing/providing one more product is referred to as marginal…
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: It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake.A cupcake is sold for…
A: It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake. A cupcake is sold for…
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: Calculate average cost when total cost Is 100 and total quantity is 8
A: Total cost is defined as the sum of all the expenses being faced by the producer in the production…
Q: Your firm operates in a market of 200,000 people. By your estimates, you need an install base…
A: According to the given data, we have to install the base required: 40,000 No. of advertisements…
Q: Cost, revenue, and profit are in dollars and x is the number of units. A firm knows that its…
A: Hi, thanks for the question. Since there is multiple subparts, I will answer for the first question.…
Q: As a production process requires labor L and capital K, q = F (L, K). The wage for a labor is $500,…
A: Given that Production function: q = F(K, L) Wage for a labor, w = $500, Cost for one capital, v =…
Q: A firm manufacture robots, for which $1000 machinary is used. The additional per unit cost is $100.…
A: Total cost is the sum of fixed cost and variable cost. Variable cost is a cost that varies with the…
Q: When a firm is experiencing economies of scale, long-run Group of answer choices average total cost…
A: Economies of scale is a situation in economy where the organizations or firms are able to produce…
Q: If the average variable cost is $2.00 and the average total cost is $8.00 and the marginal cost is…
A: Answer: Note: I am considering that average variable cost, not average available cost as you have…
Q: A firm's total cost is $12,000. Its variable cost is $5,500. What is the firm's fixed cost?
A: Correct : Fixed cost= $6500 Fixed cost is the part of total cost that does not depend on output and…
Q: If the firm is maximizing profits, total cost is represented by the area
A: Here the supply curve is the curve depicting how much production of manufacturing goods is being…
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: Find total cost if average cost is $11 and output is $20
A: The data presented in the question above:- Average cost = $11 Output = $20 Total cost is to be…
Q: he Information in the graph to the right to find the values for the following at an ut level of 50.…
A: Fixed cost is independent of output produced whereas variable cost varies with the level of…
Q: Calculate the value of total revenue if total cost is $6500 and profits are $800
A: The information given in the question is:- Total cost = $6500 Profits = $800 Total revenue = ? We…
Q: Find total cost if output is 39 units and average cost is $22
A: The Given information is as follows:- Output of firm = 39 units Average cost = $22 We have to find…
Q: Use the information in the graph to the right to find the values for the following at an output…
A: Production costs can be fixed or variable. Fixed cost is the cost that does not change with the…
Q: John's total cost is $400 while his variable cost is $300 Calculate the value of John's fixed cost
A: The information being given is:- Total cost for John = $400 Variable cost for John's firm = $300 We…
Q: The manager of a T-shirt stand found that the cost to produce 10 T-shirts is $105.68, while the cost…
A: Marginal cost is the net addition made to the total cost by producing one more unit of the output .…
Q: what is the maximal profit
A: The total cost includes the all internal or external cost that incurred by producing the output. The…
Q: Rafael quit his job paying him $74,000 per year to be a consultant. Last year he started a business…
A: Explicit cost: It is the actual monetary expenditure required to run a business. Implicit cost: It…
Q: If average total cost decreases as output increase, this indictes that there are
A: In the long run, If the average total cost decreases as output increases, this indicates that there…
Q: wheel making company has the following data related to cost: Total Cost = $ 15000 + 1000X and Total…
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Q: 1. Marginal cost is calculated for a particular increase
A: We have found what is marginal cost.
Q: If MC= 3x + 20 and MR = 44 – 5x where x is the number of units produced and sold, and the cost of…
A: MC(marginal cost) is the change in TC(total cost) when one more unit of the product is made.…
Q: Marginal cost is calculated for a particular increase in output by Question 1 options: A)…
A: Marginal cost refers to an additional cost of producing one more unit of output.
Q: A book publisher hires editors, designers, and production and marketing managers who help prepare…
A: In the production process, the company has to bear different types of cost. In the publication of…
Q: When the marginal cost is lesser than the average cost the firm is producing in which…
A: Costs are the expenses that firms incur in the production of goods and services.
Q: Calculate the value of average cost when total cost is 600 and quantity is 15
A: # Given the total cost we can easily calculate the value of average cost as it is simply the average…
Q: 110 3025 The profit function of a company is P(x) = =x+ - x3 x², the output that maximizes the…
A: The total revenue is the payment that firm gets by selling the goods and services. The total cost is…
Q: When total revenue is $4000, explicit cost is $700, and implicit cost is $500, then calculate the…
A: The sum of your recurring (MRR) and non-recurring revenue sources is your total revenue, commonly…
Calculate the profits of the first if it is given that the total revenue generated is $60,000 and the total cost is $55,000
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- Find the value of the profit when the total revenue is $65 billion and total cost is $25 billion?Marty used to be a bartender making $5,000 a year but he quit in order to become a clown that does shows at birthday parties. His clown car and costumes cost $7,000 and he did a lot of shows in the past year, making $13,000 in revenue but paying $2,000 in variable costs for balloons, gas, etc. Marty asked an accountant and an economist to calculate his profit. What did they report?If a company's marginal revenue is greater than its marginal cost, then the company should
- A particular style of sunglasses costs the retaller $90 per pair. At what price should the retaller mark them so he can sell them at a 10% discount off the original price and still make 40% profit on his cost?It costs a coat manufacturer $8750 to make 125 coats and it costs $6500 to make 80 coats. Each coat is sold for $250. a. How much is the marginal cost? Round to two decimal places if rounding is necessary. Do not enter a fraction. There is a $ sign next to the answer box, so do not type a $ sign in your answer. Only type a number (do not type any units on your answer). $ b. What is the slope of the Profit function, P(x)? Round to two decimal places if rounding is necessary. Do not enter a fraction. There is a $ sign next to the answer box, so do not type a $ sign in your answer. Only type a number (do not type any units on your answer). $ c. How many coats must be sold in order to break even? Round to the nearest whole number if rounding is necessary. Do not enter a fraction. Only type a whole number (do not type any units on your answer).Suppose the firm achieves total revenue of $1,000 by selling 150 units while facing total costs of $900. If the firm produces and sells 151 units, its total revenue is $1,005, and its total costs are $950. Should the firm produce and sell the extra unit? Group of answer choices yes, since marginal profit is positive yes, since profits are positive no, since marginal profit is negative no, since marginal profit is positive You have recently learned that the company where you work is being sold for $1,000,000. The company's income statement indicates next year's profits of $30,000, which have yet to be paid out as dividends. Assuming the company will remain a "going concern" indefinitely and the interest rate will remain constant at 7%, at what (constant) rate does the owner believe that profits will grow? (Hint: the price the owner was willing to pay is the present value of the firm's future cash flows) Group of answer choices 6% 5% 4% 4.5%
- Your firm operates in a market of 200,000 people. By your estimates, you need an install base (people that are willing to use your product after trial) of approximately 40,000 people. Historically, you know that 40% of the people that try your product become regular users. After speaking with some advertising executives, they explain that it takes roughly 10 advertisements on local television stations to get 60% of the viewers to try a product they see on television in this market. These same executives have quoted a Cost Per Point (CPP) of $100, where they define a Gross Rating Point as 1% of the population seeing 1 advertisement. 4a) How much will it cost to achieve your objective?Find the economic profit when the total revenue is 21,000 and the total cost is 14,000?Pretty Designs, Inc. makes flower pots. Suppose that their average total cost of production is $60 when 5 flower pots are produced. Suppose the marginal cost of the sixth flower pot is $120. What is Pretty Designs' average total cost when six flower pots are produced?
- Find economic profit if total revenue is $4000 , explicit cost is $700 and implicit cost is $500Zero profit does not mean that the entrepreneur does not get anything for his efforts. a. maybe b. true c. both a and b d. falseConsider the diagram below: Don,t copy from anywhere. Answer must be correct. Do all answer step by step.