Q: The total cost functionbof a firm is define by TC=35+5Q-2Q+2Q,fine the marginal cost of the firm…
A: Given Total cost function TC =35+5Q-2Q+2Q We have to find the marginal cost at Q= 3 and 5
Q: 10.knowing that the total cost function is: TC = 200 + 3Q, Calculate the average fixed cost when…
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A: According to economics, average variable cost (AVC) is labour, electricity, etc. divided by the…
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Q: Total Total Cost Output 1,000 2,000 2,800 3,500 4 4,000 4,500 5,200 7 6,000 8. 7,000 Refer to Table…
A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…
Q: A Moving to the next question prevents changes to this answer. Question 1 Cost schedule Total…
A: Total Variable Cost is consist of total (variable + fixed) cost Variable expenses are those costs…
Q: A firm has an average cost function A(q) =125/ q +q2 /16− 4. where q is the firm′s output. (i)…
A: Total cost(TC) is the sum of the variables and the fixed cost incurred by the firm. It is the…
Q: 3) A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of…
A: The profit is maximized where the MR = MC. Thus, condition for profit maximization: MR = MC.
Q: Which of the following statements is true? a. If the marginal cost curve is above the AFC curve, the…
A: The AFC curve continues to fall with rise in output. The AFC curve is in decreasing shape. Average…
Q: Labor Output 0 1 2 3 4 $1 $1.13 O $9 0 10 18 24 28 $27 Variable Cost 5 15 20 Consider the table…
A: The average total cost is computed by taking two numbers, the total cost of production and the…
Q: Total Total Cost Output 1,000 2,000 2,800 3. 3,500 4 4,000 5. 4,500 5,200 7 6,000 8 7,000 Refer to…
A: MC= (TCn -TCn-1)/Qn-Qn-1AC = TC/Q.
Q: 41. A firm's average fixed cost is Rs.20 at 6 units of output. What will it be at 4 units of output?…
A: Average fixed cost = total fixed cost /quantity of units produced So, Total fixed cost =20*6…
Q: 2 Let C(x)= x2 +4x+1 dollars be the cost function, where the x represents the quantity. The estimate…
A: Marginal cost is the additional cost of producing an additional unit.
Q: Vipsana's Gyros House sells gyros. She incurs a fixed cost of $120 per day. The cost of ingredients…
A: Given information, Fixed cost: $120 per day Variable cost: $2 Cost per worker per day: $60
Q: What are the firm's average total costs at an output of 10 pizzas? $12 O $100 $10 $120
A: Average total cost is the per cost of the goods and services so here we can choose the correct…
Q: In Exhibit 7-6, the total fixed cost is: O 1,000. O 3,000. O 5,000. O 6,000.
A: The total fixed cost is cumulative of all expenses incurred on the procurement of factors that…
Q: The best explanation for the shape of a short run marginal cost schedule is O a. increasing returns…
A: The answer is - c. A fixed factor causes diminishing returns to other factors
Q: L'a i a b. Write the tangency condition for a minimum of long run total cost, LTCmin- C= 'WL+ rk ( W…
A: Given production function Q=L1/2K1/2 .... (1) Isocost line equation: C=wL+rK
Q: Assume that the operation has the cost function C(O) = 200 - 30 - 80- 40 and the marginal cost…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
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A: Accounting profit can be defined as a profit, which a firm gets after paying only the explicit cost.…
Q: Given that fixed cost =230 and variable cost=D12Q ; the total cost of producing 30 units of output…
A: Let's First understand what is total cost. Total cost is the sum of fixed cost and variable cost…
Q: In Exhibit 7-10, the publisher's fixed cost is equal to: O $200. O $100. $300. $50.
A: Fixed cost refers to the cost of production that does not change with a change in the level of…
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A: The total cost of production: It is the function of output. As the output increases the total cost…
Q: EKry Consider the cost curves above. FC (TFC) is shown by O1. II. II. O IV. QUESTION 18 Consider the…
A: 1) Total cost is a horizontal line which implies it is constant and independent of output. It means…
Q: The following question is referred to the following table Q28: Table Q28: Output, Fixed and Variable…
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Q: 8. A businessman is thinking of opening a factory in one of these places in Ethiopia: Bahir Dar, or…
A: Represent the table showing the fixed cost and variable cost as follows:
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A: The formulas for cost are: 1. Total Cost = Fixed Cost + Variable Cost 2. Average Total Cost = Total…
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Q: The average variable cost for 2 units of output is O 12.5 O 7.5 O 95 0 5
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Q: Output Total Cost 105 1 125 140 180 4. 240 320 The average fixed cost at a quantity of 2 is given by…
A: Formula: Average fixed cost= total fixed cost / output
Q: The table below shows cost data for WipeOutSki Company, which manufactures skis for beginners. If…
A: Answer: The following formulas have been used: Total cost=Fixed cost+Variable costAverage variable…
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A: Total cost = Fixed cost + Variable cost Total cost = Average total cost * quantity
Q: 8. Ahmed's Pizza House sells extra-large deluxe pizzas at OMR 9.000 per pizza. The cost of…
A: Answer - Given in the question - Price of extra-large deluxe pizzas - OMR 9.00 Cost of ingredients…
Q: (*4") At nine units of output (Q-9), Average Variable Cost is (AVC=) $15 and Average Fixed Cost is…
A: Marginal cost is the additional cost when produce one or more unit here we calculate the marginal…
Q: QUESTION 3 Let c(w1; w2; y) be a cost function, and let A > 1. We have: Oa. ( A w1; Aw2: y) = c(w1;…
A: Hi there , as you have posted multiple question, as per our guidelines we are only allowed to answer…
Q: In a short-run production process for computer software, the average total cost (ATC) is increasing…
A: "Since you have asked multiple questions, we will solve first question for you .. you want any…
Q: Assume that the operation has the cost function Cia) = 200 - 30 - 80 40 and the marginal cost…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: If AFC is $18 at a quantity of output of 200 units, and ATC is $27 at the same quantity of output,…
A: Total Cost is the total expenses incurred by producer when they produce goods and services , it…
Q: 9. What is the Average Total Cost at Q=6? a) 7.50 b) 12 c) 20 d) 25 e) 45 f) 100 g) 120 Oh) 160
A: Introduction Total cost is the function of output. Total cost is the addition of total fixed cost…
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Q: Maria's sandwich shop finds that when it caters 45 meals a week, its total cost is $8,500. If Maria…
A: Answer to the question is as follows:
Q: If the average fixed cost of seven tubs of ice cream is $50, the total cost of zero tubs is: Oa.…
A: Average fixed cost refers to the cost that remains same through out the level of outputs that is it…
Q: Consider the following table Output Total Cost 105 125 140 3. 180 4 240 320 The fixed cost is given…
A: Total fixed cost is the cost that is present even when output is 0.
Q: Yummy Gummies, Inc. makes boxes of individually packaged gummies. The company has a cost function…
A: Given: C(x) =cost function C'(100) = $3.50 per box
Q: Which one of the following statement is true about slope of fixed cost: Select one: O a. Slope of…
A: Slope implies that a change of unit in x being the independent variable would in turn result in a…
Q: Output TC ($) 200 250 15 300 20 350 23 400 25 450 Refer to the information above to answer this…
A: We know that Total cost is equal to Fixed cost and variable cost . Total cost = Fixed cost +variable…
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A: Given Total revenue function : R = 550x dollars Total cost function : C = 10,000 + 30x + x^2…
Q: $/Q 174 125 118 80 59 48 40 m MC AVC ATC 28 W Q₁ Q₂ Q₂ Q5 total variable cost at Q₂ units of output…
A: Fixed Cost refers to the costs that are incurred even when production is zero. That is, the costs…
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- What is die difference between accounting and economic profit?Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost, variable costs, and marginal cost?Q.(i) . Selling Price :Rs. 12 Per UnitVariable Cost : 2/3 of SPFixed Cost :Rs. 40,000You are required to calculate:(a) Sales to earn profit of Rs. 8000.(b) Also show the BEPs in Breakeven chart. Q.(ii). Use the following information and explain that how the reduction in selling pricewould affect the MOS?Particulars Rs.Selling price per unit 40Material per unit 12Labour per unit. 8Variable Overheads per unit 4Total Fixed cost is Rs. 8, 000. Full capacity of the Plant is 5, 000 units.Reduced selling price is Rs. 32 per unit.
- Metters Cabinets, Inc., needs to choose a productionmethod for its new office shelf, the Maxistand. To help accomplishthis, the firm has gathered the following production cost data: PROCESS TYPE ANNUALIZEDFIXED COST OFPLANT & EQUIP. VARIABLE COSTS (PER UNIT) ($)LABOR MATERIAL ENERGY MassCustomization $1,260,000 30 18 12Intermittent $1,000,000 24 26 20Repetitive $1,625,000 28 15 12Continuous $1,960,000 25 15 10Metters Cabinets projects an annual demand of 24,000 units forthe Maxistand. The Maxistand will sell for $120 per unit. a) Which process type will maximize the annual profit from pro-ducing the Maxistand? b) What is the value of this annual profit?Problem 6Cannes Croissants (not a real company) wishes to determine the optimum production quantity for its topselling product, almond croissants. The annual demandfor almond croissants is 12,000 units. The setup costs fora production run of the croissants is US$15. The holdingcost per unit per year is US$0.50. Production is mostefficient when 80 croissants are produced per day. Thecompany operates 300 days during a year.a What is the economic production quantity (EPQ)?b How many production runs will there by per year?c What is the maximum inventory level?d What is the total annual cost (in US dollars)?e What is the length of a production run in days?Refer to (Total Time = 20 minutes (VA time) + 10 minutes (NVA time) = 30 minutes; Total Cost = $11.67 (VA cost) + $5.417 (NVA cost) = $17.087) the restaurant value stream map, and recompute the total value-added and non-value-added time and cost given the following new information. The chef's time is valued at $30 per hour, oven operation at $10 per hour, precooking order waiting time at $5 per hour, and postcooking order waiting time at $60 per hour. The $60 estimate reflects the cost of poor quality for a dinner waiting too long that might be delivered to the customer late (and cold). If a restaurant uses iPads to place orders and notify waiters when the customer's order is ready, the time on the order board (now an electronic order board) decreases from five to four minutes, and the prepared order wait time decreases from five to two minutes. Round your answer for the total revised time to the nearest whole number and round your answer for the total revised cost to three decimal…
- EXAMPLE 1.2 Consider the following data of a company for the year 1997:Sales = $ 1,20,000Fixed cost = $ 25,000Variable cost = $ 45,000Find the following:(a) Contribution1. Direct laborrate: $15.00perhour Production material: $375 per 100 items Factory overhead: 125% of direct labor Packing costs: 75%ofdirectlabor Desiredprofit: 20%oftotalmanufacturing cost use the above information to answer how many units must be sold to achieve a profit of $25,000? [Note that the units sold must account for total production costs (direct and overhead) plus desired profit. 2. A small textile plant was constructed in 2004. The major equipment, costs, and factors are shown below. Estimate the cost to build a new plant in 2014 if the index for this type of equipment has increased at an average rate of 12% per year for the past 10 years. Show work and Select the closest answer. a) $4,618,000 b) $10,623,000 c) $14,342,000 d) $ 14,891,000An explicit cost is: Select one: a) An implicit cost to the factor of production owner who recieves that payment b) a money payment made for factors of production not owned by the firm itself c) is the cost of the forgone alternative incurred by the individual after making choices d) omitted when accounting profits are calculated e) always in excess of a factor of production's oppurtunity cost
- Units of fixed input K Labor Hours (L) Output (Q) TFC TVC TC AFC AVC ATC MC 3 0 0 90 0 90 0 0 0 0 3 1 4 90 20 110 22.5 5 27.5 5 3 2 90 90 40 130 1 0.444 1.444 0.233 3 3 160 90 60 150 0.563 0.375 0.938 0.286 3 4 200 90 80 170 0.45 0.400 0.85 0.5 3 5 230 90 100 190 0.391 0.435 0.826 0.667 3 6 250 90 120 210 0.36 0.480 0.84 1 3 7 260 90 140 230 0.346 0.538 0.885 2 3 8 265 90 160 250 0.340 0.604 0.943 4 If the price of the output is $1, how many units of output should the firm produce to maximize profit? What is the firm’s profit level?Units of fixed input K Labor Hours (L) Output (Q) TFC TVC TC AFC AVC ATC MC 3 0 0 90 0 90 0 0 0 0 3 1 4 90 20 110 22.5 5 27.5 5 3 2 90 90 40 130 1 0.444 1.444 0.233 3 3 160 90 60 150 0.563 0.375 0.938 0.286 3 4 200 90 80 170 0.45 0.400 0.85 0.5 3 5 230 90 100 190 0.391 0.435 0.826 0.667 3 6 250 90 120 210 0.36 0.480 0.84 1 3 7 260 90 140 230 0.346 0.538 0.885 2 3 8 265 90 160 250 0.340 0.604 0.943 4 If the firm produces 265 units of output and sells it at $1 per unit, is it making profits or losses? How much are they making?No. of workers Output Fixed cost Variable cost = 30 x workers TC =FC +VC 0 0 30 0 30 1 50 30 30 60 2 90 30 60 90 3 120 30 90 120 4 140 30 120 150 5 150 30 150 180 true or false Grade It Now Save & Continue Continue without saving
