Calculate the value of average cost of AFC is $70 and AVC is $67

Q: If marginal cost is above average variable cost, then Select one A average variable cost is constant…

A: Marginal Cost (MC) is the change in total cost for an additional unit of output produced. Average…

Q: Calculate the value of total cost if average cost is $42 and total units is 5

A: In the above given question, we are given with the values of average cost and total units as:-…

Q: Marginal cost intersects average total cost at minimum average total cost. True False

A: The price curve always intersects the typical total cost curve at its lowest point because the…

Q: Total cost divided by quantity of outout is Select one: a average variable cost b. average total…

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

Q: Calculate the value of average cost when the value of total cost is $100 and the no of units are 10

A: The average cost (AC) refers to the total cost per unit of output produced. The formula for AC is as…

Q: When marginal cost is greater than average variable cost, average variable cost i v (Click for List)…

A: Marginal cost is defined as the extra coat a firm incurs by employing an extra unit of input.

Q: The average cost is $13 and the output produced is 10 units Calculate total cost

A: The average  cost is the cost per unit of output. Total  cost is the total expenditure that keeps on…

Q: An implicit cost is another name for a(n):     Explicit cost     Production cost     Economic…

A: Option D Implicit cost is a cost to a business that occurs due to the cost of resources that were…

Q: If total cost is $100 and output is 13 units  Calculate the value of average cost

A: The given information is as follows:- Total cost of the firm = $100 Output = 13 units  We need to…

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: If marginal cost is less than average variable cost and output increases, average total cost and…

A: The marginal (MC) cost is the extra cost incurred due to the production of an additional unit of…

Q: The value of average cost is $80, the value of average variable cost is $49 Calculate the value of…

A: We know that the total cost is given as:- TC = TFC + TVC Dividing both sides with output:- AC = AFC…

Q: If average cost is $30 and the output is 15 units. Calculate total cost

A: (Q)If the average cost is $30 and the output is 15 units. Calculate total cost

Q: Solve the attachment.

A: Marginal cost is the addition to the total cost due to the production of an extra unit of output,…

Q: .If total cost is increasing, marginal cost is positive. a. True O b. False

A: # Total cost is the sum of variable and fixed cost incurred by a firm.  At the same time, the…

Q: Cost A company buys and retails baseball caps, andthe total cost function is linear. The total cost…

A: Marginal cost shows the increment in the total cost by producing an additional unit of the cap.

Q: If average cost is $30 and the total cost is $900 What output must the firm have produced

A: Total Cost(TC) is the total amount incurred by the firm in production of given quantity. Average…

Q: Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of…

A: Total cost is the sum of all costs incurred during the production process. The total cost can be…

Q: Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of…

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

Q: The total cost (in dollars) of producing x food processors is C(x) = 1600 + 40x – 0.7x². (A) Find…

A: (A) Given:C(x)=1600+40x-0.7x2Now,Exact cost of producing the 21st food processor is:Cost of 21st…

Q: Mr  Han  Cook  says  that marginal  cost  is  just  a  funny  name  for  average  total  cost. What…

A: Total cost is defined as the total expenses that a company or firm has to incur in order to produce…

Q: Find total cost given that:- Fixed cost = $90 Variable cost = $45

A: The data presented in the question above is:- Fixed cost = $90 Variable cost = $45   Total cost is…

Q: Use the following scenario to answer the questions that follow. Steve owns a bike store. His total…

A: (A) Variable cost refers to the cost that does change with change in level of output.

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: 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: Government imposes higher tax on tobacco production. Which cost curves will be affected and why of…

A: When the government imposes a higher tax on tobacco production or the output. With this tax…

Q: Average cost is $30 and the total cost is $900 Calculate the output

A: Average cost is the per unit cost of producing an output.

Q: Use the table to answer the uestion below: Quantity          Total Cost  0…

A: Total fixed cost (TFC): - it is the cost incurred on the fixed capital assets like land, building,…

Q: The value of average cost is $20 Calculate the value of total cost when the total units are 6 units

A: # The formula for average cost is given as:- Average cost = Total cost / Output

Q: Calculate TFC if average fixed cost is $30 and output is 50

A: The information being given is:- Average fixed cost = $30 Output = 50 units  Total Fixed cost = ?

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: which of the folowing cost curves look the same MC AND AC TC AND AC AVC AND AFC ATC AND AVC

A: Average cost refers to the total cost per unit of output. Marginal cost is the change in total cost…

Q: As long as marginal cost is below average variable cost or average total cost , then average…

A: When MC is below AVC, MC pulls the common down. When MC is above AVC, MC is pushing the typical up;…

Q: Calculate average cost if average fixed cost is $33 and average variable cost is $40

A: The information being given is:- Average fixed cost = $33  Average variable cost = $40 Average cost…

Q: irs of shoes their total cost is $500. Elliot's arginal cost to produce the 31st pair of shoes is 1.…

A: Average total cost = total cost/quantity Marginal cost is the additional cost incurred in order to…

Q: Average total cost decreases when marginal cost is average tot. less than greater than equal to

A: Average cost(AC) is the division of total cost(TC) by the total quantity produced. It is the…

Q: Calculate the value of Total cost if average cost is $28 and the no of units is 21

A: The information given to us is:- Average cost = $28 No of units = 21 units We need to find the value…

Q: Define Average unit cost,

A: There are different types of cost in production, total cost, average cost and marginal cost. Total…

Q: Calculate the value of total cost when average cost is $35 and the no of inputs employed is 5

A: # Total cost is given by the product of average cost and the number of imputs employed in…

Q: marginal cost (MC) and average total cost (ATC) f

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Calculate average variable Cost if total variable cost is $1000 and output is 20

A: The average variable cost is the cost per unit of output. Total variable cost is the total…

Q: Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of…

A: Total Cost is the cost which faced by producer in producing goods and services , it includes…

Q: True or False The average total cost cannot equal marginal cost.

A: Average total cost It refers to the total cost per unit of production. ATC = TC/Q where ATC is…

Q: Refer to the information provided in the Figure below to answer the question(s) that follow. Cost…

A: Here, we can see that Curve 1 is the Marginal Cost (MC) curve which cuts Curve 2 and Curve 3 at…

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: 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: If average total cost is $100, average variable cost is $30 and output is 50 units. What is the…

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

Q: How can I construct a cost curve for ATC, AVC, MC

A: Total Cost:The sum of explicit costs and implicit costs constitutes the total cost of the production…