Compare and contrast economies of scope and economies of scale. Be sure to include outside sources.

Q: In the context of process analysis a. _____ can help eliminate or minimize bottlenecks. b. _____…

A: A bottleneck is a stage in a process that restricts the overall capacity of the process. In a…

Q: If Mark produces five pairs of earrings, his total costs are   a. $370.  b. $360.  c. $320.  d.…

A: Answer- Need to find- If Mark produces five pairs of earrings, his total costs are Given in the…

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 physical relationship between pipe flow-through and pipe circumference can be an explanation for…

A: This is used in chemical firm where there is Direct relationship between pipe flow capacity and…

Q: Find total fixed cost if total cost is $2000 and the total variable cost is $1500

A: The given information is as follows:- Total cost = $2000 Total variable cost = $1500 The formula for…

Q: Someday, if you want to be an economist or to study  more about economic analysis, what platform you…

A: While studying economics, economists have the capability to reduce costs while using different…

Q: What will be the value of explicit cost of Rajan if the total revenue generated by him is $1300 and…

A: The information being given is :- We are given with the total revenue and accounting profit values…

Q: impact of fixed and variable cost on break even analysis

A: Fixed and variable costs are the two costs that are considered to be an important costs that a firm…

Q: 1 Average fixed cost equals a. Average total cost minus average variable cost b. Total variable cost…

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

Q: What will be the value of  average cost if Total cost is $405 and the output is 30 units

A: The data presented in the question above is:- Total cost = $405  Output = 30 units  We need to find…

Q: Develop a plot of the average cost per unit versus production quantity for the houseware appliance…

A: a) Average cost (AC) = Total cost / Number of units Where Total cost = Fixed cost + Variable cost…

Q: Calculate accounting profit if explicit cost is $300 and total revenue is $2000

A: The data presented in the question above is:- Total revenue = $2000 Explicit cost = $300 Accounting…

Q: If the total fixed cost is given as $320 And the total variable cost is given as $ 480 What would be…

A:

Q: A Company produces 100 pendants per day. The total fixed cost for the plant is $5000 and the total…

A: The estimated average total cost (ATC) is equal to the total fixed and variable costs divided by the…

Q: What is the difference between economies of scope and scale. Also include in your discussion some…

A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…

Q: Suppose that a manufacturer of widgets has fixed costs of $1000 per month and that the variable cost…

A: A linear equation is a mathematical equation of degree one that yields a line on the cartesian plane…

Q: Calculate the total cost if average total cost is $35 and the unit of output is 22 units

A: The Given information is as follows:- Average total cost of the firm = $35 Units of output = 22…

Q: The total cost (in dollars) of manufacturing x auto body frames is C(x) = 80,000 + 900x. (A) Find…

A: (A) The average costs refer to per unit cost of production. It is obtained by dividing total (TC)…

Q: a) Estimate from the graph i) the break-even points e) How would your answers for break-even points…

A: (a) The breakeven point is a situation where revenue earned by the firm is exactly equal to its cost…

Q: Find total cost if average cost is $31 and the output is 60 units

A: The data presented in the question above is:- Total cost is to be calculated using information given…

Q: Arthur crafts miniature chocolate dollhouses which he sells for $28 each. Arthur has calculated the…

A: The markets in an economy are made up of two sides, the demand side and the supply side. The markets…

Q: What will be the average fixed cost if TFC Is $350 and the output is 50 units

A: Fixed cost is the cost that remains fixed at all levels of output. This is the cost that is…

Q: An input combination described in the 2 points: point A (L=10, K=15) and point B (L=10, K=17) can be…

A:

Q: aken an industrial design course at Dubai Men's College to help prepare for this venture. The course…

A: Fixed cost = Small factory rent + Utility + Equipment rent + Advertising cost  Fixed cost…

Q: Each of Davisson's production managers (annual salary cost, $45,000) can oversee 60,000 machine…

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

Q: Implicit and explicit costs are different in that: Multiple Choice the former refer to…

A: Implicit costs are opportunity costs, while explicit costs are expenses paid with a company's own…

Q: Do you think that someone could be a good systems manager but a poor project manager? What about the…

A: Meaning of Managerial Economics: The term managerial economics refers to the scenario of the…

Q: Define the term Cost Reduction?

A: Cost reduction is the mechanism that businesses use to cut costs and increase profits.

Q: In detail, What is one example of a non-linear cost function and explain what factors cause the…

A: A cost function whose graph of total cost within a relevant range is not a straight line is defined…

Q: how to calculate total cost analysis

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

Q: Economies of Scope refers to situations where per unit costs are:

A: Economies of Scope refers to situations where per unit costs are lower with more product types. This…

Q: Ace Shoe Company sells heel replacement kits for men's shoes. It has fixed costs of $6 million and…

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

Q: Find the total cost if the fixed cost is $13 and the variable cost is $16

A: Actually in the given question, Fixed cost is = $13 Variable cost is given as = $16 Total cost = ?

Q: What would be the value of average cost if total cost is $1600 and output is 24 units

A: The information being given is:- Total cost = $1600 Output = 24 units  We have to calculate the…

Q: List some practical limits to economies of scale; that is, when should a plant stop growing?

A: Economy of scale is the improvement that a company acquires from the size or scale of manufacturing.

Q: The ratio of total cost to number of units produced defines: a. Incremental cost b. Average cost c.…

A: Costs are defined as the expenses incurred by the producer to purchase goods and services. Wages,…

Q: The slope of TR and TC are each constant at 10 dollars and 5 dollars respectively and the total…

A: The Break-even point is that point where firms necessarily need to make a normal profit. According…

Q: Yamaha company sells auto parts. One of auto part has selling price for $110. Yamaha company buys…

A: Given,   Selling price = $110  Variable cost (VC)= $80            Average unit sold = 40 units

Q: Total Cost = C(x) = 0,005x^3 - 0,49x Lnx +5x Find : a. Average Cost Function b. Average Cost…

A: Average cost (AC) = C(x) / x AC = 0.005x2 - 0.49 Lnx + 5

Q: Find average cost if Total cost is $1000 and the output is 60 units

A: The information given to us is as follows:- Total cost = $1000  Output of the firm = 60 units…

Q: if average variable cost is 15, and total variable cost is 180 and total fixed cost are * 120, then…

A: The fixed costs do not change (remain constant) with the change in the quantity of output and the…

Q: Horace Corporation, located in Hamilton, produces steel. When it produces 40 units of steel output,…

A: here we have different type of cost , so calculate and choose the correct option which are as…

Q: While drawing cost curves, the state of technology must be kept constant True/False

A: # Cost curve is drawn taking into use th fixed cost of the firm and the variable cost incurred by…

Q: If the total fixed cost is $420 and a total variable cost is $ 180 what would be the average cost…

A:

Q: Given below is a cost schedule of an automobile company operating in Kota Kinabalu. Total Product…

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

Q: Compare and contrast economies of scale and economies of scope. Give an example of each from your…

A: Introduction Economies of scale: Economies of scale occur when the quantity of goods increases and…