Cost A company buys and retails baseball caps, andthe total cost function is linear. The total cost for200 caps is $2690, and the total cost for 500 caps is$3530. What is the marginal cost, which is the rate ofchange of the function?

Q: How and why does a firm’s average-total cost curve differ in the short run compared with the long…

A: In the long run, a firm adjusts the different factors of production that are fixed in comparison in…

Q: What is the variable cost of production ( per month)

A: Variable Cost = Labour Cost+Ingredients+electricity Variable Cost =4.00+2.00+0.20 Variable Cost…

Q: Refer to the graph shown. This set of cost curves Is: MC ATC B AVC Output Multiple Cholce O wrong…

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

Q: If you have the data of Total cost (TC)= 15, 25, 30, 40, 55, 75, 100 against units of output (Q) =…

A: Marginal cost is the cost which incurred by producer when they produce one or more additional unit .…

Q: The marginal cost curve intersects the average total cost curve at the level of output where average…

A: Marginal Cost (MC): Marginal cost occurs when producing an extra unit of output. Average total cost…

Q: What is the difference between sunk cost and fixed cost? Explain with examples.

A: Sunk costs and fixed costs are two kinds of expenses borne by a corporation in the different…

Q: The''Sad Student'' Company finds that it costs a total of (q)=9720+500q-1.5q^(2)+0.005q^(3)…

A: The total cost function (q)=9720+500q-1.5q^(2)+0.005q^(3)  answer d  The constant term in the…

Q: Suppose a pizza parlor has the following productions cost $4.00 in labor per pizza $2.00 in…

A: Profit is the key motive of firms operating in a market. Profit refers to the difference between the…

Q: ) Lines that represent bundles of inputs that cost the same total amount are called: Ototal cost…

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

Q: What is the difference between the explicit and implicit cost

A: Cost In popular use, cost refers to the monetary worth of products and services purchased by…

Q: Explain the difference between fixed and variable costs, and giveexamples of each.

A: Fixed and variable costs are the types of production cost that a producer incurs while producing a…

Q: A common name for fixed cost is “overhead.” If you divide fixed cost by the quantity of output…

A: The average fixed costs AFC curve is downward sloping because fixed costs are distributed over a…

Q: ing to the long-run average cost cur

A: The cost of per unit output is known as the average cost. It directly depends on returns which…

Q: What is the total cost when the marginal product of labor is 15? What is the total variable cost…

A: The marginal product of labour can be calculated by dividing change in output by change in labor.…

Q: what is the cost stucture of a monoply? what is the cost structure of Microsoft? illustrate the cost…

A: Monopoly is the who charge higher price and make high profit . Their AC is also low

Q: Distinguish explicit cost and implicit cost

A: We can classify costs on the basis of payments. These are: 1-Explicit cost 2-Implicit cost…

Q: f the cost of producing 100 pies is $274 the average total cost is?

A: Average total cost refers to total cost per unit of output. It is the sum of average fixed cost and…

Q: Austin's total fixed cost (TFC) is $350/month at his cupcake bakery.  Austin employs 10 workers and…

A: The amount of output produced determines the fluctuation in variable costs. Labor costs are one type…

Q: Give two examples of variable costs

A: Variable costs are those costs which vary with the production level and thus gets changed as the…

Q: fisherman has a fixed cost of Rs.10 (his rod). The variable cost of his time is Rs.5 per hour. Graph…

A: total cost = total fixed cost + total variable cost

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

A: Costs are the expenses incurred by a firm in the production of its output. In production, there are…

Q: one input and derive the short-run cost function. Show that long-run average and marginal cost are…

A: The Cobb-Douglas production function depends on the observational investigation of the American…

Q: What is the typical shape of the average fixed cost curve, Why is it shaped this way. Graphically…

A: Average Fixed Cost (AFC) is the cost that must be incurred in fixed quantity regardless of the level…

Q: Suppose Ralph has a chicken processing plant with the total cost function shown in the accopmanying…

A: Fixed cost does not depend on output. It remains fixed even when firm produces 0 units. Variable…

Q: Calculate marginal cost if change in total cost is $630 and the change in output is $17

A: The given information is as follows:- Change in total cost = $630  Change In output = 17 units  We…

Q: Consider the following two total cost functions, C(y) = y² + y + 10, MC=2y+1 C(y) = y³ – 10y² +…

A: Answer: First total cost function: Second total cost function:

Q: briefly explain returns to scale.  Explain the variable costs in the cost function

A: returns to scale allude to the rate by which result/output changes on the off chance that all…

Q: Can total cost of the firm be zero? if yes what's the production point at this level

A: Total cost of the firm is the combination of fixed cost of the firm such as rent of the workplace…

Q: explicit or implicit cost

A: The expenditure incurred on producing a good or service depicts the cost. Cost depends the level of…

Q: What is the relation between fixed cost and total cost ??

A: Fixed cost is the cost that is to occur on the fixed expenses whether there is production or not.…

Q: What is the total variable cost of 2 oil changes?

A: Total cost is the sum of fixed cost and variable cost.

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: Diminishing returns A cost function of the form C(x) = 1/2 x2reflects diminishing returns to scale.…

A: According to the question, C(x) = ½ X^2 AV(x) = C(x)/x           = ½ x MC(x) = C’(x)             =x

Q: Šuppose that a producer is faced with input combinations that yield 500 units. Assume that capital…

A: Optimal input combination is where Isocost line is tangent to Isoquant curve.

Q: If a business is experiecing diminishing marginal product of labor then

A: Step 1: Explanation of incorrect options

Q: Give an quantitative example of marginal and average cost.

A: Average cost is the equivalent of total fixed cost (TFC) and total variable costs (TVC) divided by…

Q: 12 .knowing that the total cost function is: TC = 200 + 3Q, Calculate the average fixed cost when…

A: Total cost is the sum of total fixed cost and total variable cost. Average fixed cost is total fixed…

Q: las Production function: Q 20KL The price of one unit of capital per hour is $20 and the price of r…

A: *Answer:  To find the optimal quantity of K (capital) and L (labour), the profit maximising…

Q: What does the long run average cost curve exhibit? It defines the least cost per unit of output when…

A: Answer: The long-run average cost (LRAC) curve shows the lowest cost per unit of output produced…

Q: Refer to the table below. How will the marginal cost curve look like if you draw it? Units of…

A: MC = change in TC / change in units With MC remains constant with increase in output, MC curve is…

Q: Given the total cost function TC = 100 + 40Q - 15Q2 + 5Q3, what is Average Total Cost (ATC)? A. ATC…

A: Average cost or unit cost is equal to total cost divided by the number of units of a good produced…

Q: With appropriate examples explain how marginal cost is related only to total variable cost.

A: Cost Cost refers to the actual expenditure on inputs (i.e. explicit cost) and the imputed value of…

Q: Explain the difference between fixed cost and the variable cost in economics.

A: In economics, cost refers to all the expense that has been incurred in order to produce goods and…

Q: Explain the concept of economies and diseconomies of scale and briefly state their effects on the…

A: Economies of scale and diseconomies of scale occur during the production of goods and services.…

Q: Can you think of a cost function, so that the marginal cost at any x is exactly equal to the cost of…

A: Marginal cost is cost of producing one additional unit.  Cost function , total cost for producing x…

Q: The "Sad Student" Company finds that it costs a total of C(q) = 9720 +500q – 1.5q² +0.005q Dollars…

A: The total cost function is the minimum total cost borne by a firm for any given level of output (q)…