Explain which of the following is a fixed cost or a variable cost for General Motors. The yearly payments for the naming rights for the General Motors Centre sports arena in Oshawa, Ontario, Canada. The salary paid to Mary Barra, the Chief Executive Officer of General Motors. The cost of tires it purchases from Goodyear for its trucks and SUVs.

Q: Suppose a shoes factory makes 100 pairs of shoes. At this level of production, they have $25 in…

A: Output(Q)=100 units AVC(Q=100)=$25 ATC(Q=100)=$32 TFC(Q=100)=? We know that: Average Fixed Cost is…

Q: The average fixed cost curve will never Intersect with either the horizontal vertical axis

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: A firm encountering economies of scale over some range of output will have a a. rising, then…

A: Microeconomics is a part studied under economics that is used to understand the demand and supply…

Q: Solve the attachment.

A: The firms incur costs as per their production processes and other requirements to maintain and make…

Q: List and explain which of the following is a fixed cost or a variable cost for Caribbean Airlines.…

A: Fixed cost refers to the cost that remains fixed despite the change in the level of output produced…

Q: Please define the long cost curve and the short run cost curve in your own words but not more than…

A:

Q: Define a variable cost and a fixed cost. What causes changes in these costs? Give two examples of…

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

Q: Output Total Cost 0 24 1 33 2 41 3 48 4 54 5 61 6 69 Refer to the above data. The…

A: Fixed cost is the cost that does not vary with the output produced.

Q: Carolyn knows average total cost and average variable cost for a given level of output.  Which of…

A: TC is Given  AVC is Given Output Is given

Q: Assume that for a quantity produced of 20, the total cost is 500 and the average fixed cost is 10.…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: Quantity (boxes of cakes) Total variable cost (dollars) 0 0 1 20 2 35 3 50 4 75 5 110 6 160 The…

A: Total cost is the sum of fixed cost and variable cost. Fixed cost is independent of quantity.…

Q: QUESTION 4 Match each of the following terms and descriptions Average Fixed Cost Average Total Cost…

A: Providinf full. Solution.

Q: The average fixed cost curve will never intersect with either the horizontal or vertical axis. There…

A: Hey, Thank you for the question. According to our policy we can only answer up to 3 sub parts per…

Q: List and explain which of the following is a fixed cost or a variable cost for  Caribbean Airlines.…

A: Total fixed costs are the total obligations of the firm per time period for all fixed inputs.  Total…

Q: Which one of the following would be regarded as a variable cost for a firm?   Select one: a. the…

A: Meaning of Variable Cost: The term variable costs are those cost which changes or fluctuates, as…

Q: Jake is a corn farmer in Nebraska. He rents his land on a long-term lease for $250,000 a year. He…

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

Q: Which of the following would increase a firm's average total costs? economies of scale an increase…

A: Average Total Cost: The average total cost (ATC) is the per-unit cost of producing goods and…

Q: Evaluate the view that the main goal of firms will always be cost minimization.  You are interested…

A: 1) The main goal of the firm is cost minimization. This is because if the firm minimises the cost,…

Q: The average variable cost curve and average total cost curve tend to converge as output rises…

A: ATC = TC/Q AFC = TFC/Q AVC = TVC/Q   TC = TFC + TVC TFC = TC – TVC AFC = AC - AVC

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: The four statements below describe properties of a firm's short run cost curves. Complete the…

A: Average cost is the sum of average fixed cost an average variable cost. It is a U-shaped curve.

Q: Joel hires students to sell magazine subscriptions at $450 per student per week. He leases equipment…

A: Total cost is the sum of Fixed cost and variable cost. Fixed cost remains same at all levels of…

Q: Suppose a shoes factory makes 100 pairs of shoes. At this level of production, they have $25 in…

A: Fixed cost is independent of output produced whereas variable cost varies with the level of…

Q: Graphs must display The Marginal Cost Curve is shaped like a Nike swoosh. The Marginal Cost Curve…

A: 1. The marginal cost is the cost that is caused to the firm through the increased production of the…

Q: With fixed costs of $400, a firm has average total costs of $3 and average variable costs of $2.50.…

A: Given:  Total Fixed Cost = 400. Average Total Cost = $3 Average Variable Cost = $2.50

Q: Suppose that you and your roommate have started a Doughnut delivery service on campus. List some of…

A: Total Fixed Cost (TFC) : It refers to that part of the total cost that does not depend on output. In…

Q: A producer borrows money and starts a business. He himself looks after the business. Identify…

A: (1.) A producer borrows money and starts a business. He himself looks after the business. Identify…

Q: Construct the cost schedule using the data. below for a firm operating in the short run.   Graph…

A: Total cost is the sum of all the cost that incurred by a firm in order to produce output. The…

Q: The table below represents incomplete information on the short-run production costs for a firm,…

A: Cost refers to the monetary payment made by a business in order to produce any good or service. It…

Q: The publisher of a new book figures fixed costs at $92,000 and variable costs at $2.10 for each book…

A: At the breakeven level of production, the firm will be exactly covering its total cost with the…

Q: At quantities less than the long-run minimum cost per unit of output, the long run average total…

A: At quantities less than the long-run minimum cost per unit of output that is quantities less than Q…

Q: The portion of a long run average cost curve that is downward sloping is called the range of: Group…

A: The long-run average cost curve is the cost curve which helps to analyze the cost function of the…

Q: A producer borrows money and starts a business. He himself looks after the business. Identify…

A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…

Q: Jeb owns a small marketing company, which he operates from a home office. Jeb’s home office is an…

A: Fixed Cost remains same at all levels of output. Marginal Cost is the additional cost incurred while…

Q: For a restaurant that sells hamburgers, which of the following costs would be a variable cost? O The…

A: Variable cost is those cost which is not fixed in nature. These costs change in proportion to…

Q: A producer borrows money and starts a business. He himself looks after the Identify implicit and…

A: Answering first question as per guidelines. Explicit Costs refer to actual payments made for…

Q: Cost curves in the long run differ from cost curves in the short run.   This is true right.

A: YES the statement that "Cost curves in the long run differ from the cost curves in the short run" is…

Q: Which of the following statements is correct? Multiple Choice ___ Marginal cost is the change in…

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

Q: Three college students are considering operating a tutoring business in economics. This business…

A: Note : There are multiple sub parts in this question. Hence, only the first three sub parts shall be…

Q: Scott owns a law-enforcement training operation in Boise, Idaho. He employs three trainers. The last…

A: Scott's total cost increased by $466 because of hiring the last trainer who brought in one new…

Q: Water World Water Park has the following cost function: TC = 500 + 125q and MC = 125 a) Determine…

A: Given: TC = 500 + 125q MC = 125

Q: Portia owns and manages a sporting apparel company. Consider the given average cost (AC), average…

A: Average fastened prices + average variable prices = short cost as a result of K is fastened within…

Q: Explain which of the following is a fixed cost or a variable cost for General Motors. a. The cost…

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

Q: A student has just written on an exam that, in the long run, fixed cost will make the average total…

A: Long run: Long run refers to the time period that necessary to increase the production capacity or…

Q: Which of the following are true? (check all that apply) a.the average fixed cost is increasing if…

A: Note : Since the question has multiple sub parts , only the first three sub parts shall be answered…

Q: How would each of the following affect average total cost, average variable cost, and marginal cost?…

A: GIVEN  How would each of the following affect average total cost, average variable cost, and…

Q: . The marginal cost when output = 10 is equal to a. the slope of a line drawn tangent to the total…

A: # Marginal cost is the total cost per unit of output. The formula for marginal cost is:- MC = TC / Q…