Given the quantity produced (Q), Total fixed cost (TFC) and Total Cost (TC), (1) calculate Total Variable cost (TVC) and (2) Draw Total cost (TC) curve Quantity (Q) Total fixed cost (TFC) Total Variable cost (TVC) Total Cost (TC) 160 160 160 1 240 160 320 160 3 400 160 4 480 160 560 160 6 640 160 7 720

Q: A food truck gyro vendor has weekly fixed costs of ​$550​, and variable costs of $4.55 for each gyro…

A: Cost is the sum of fixed cost and variable cost

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

A: Fixed cost: A fixed expense is an expense that doesn't change with an increment or diminishing in…

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: When average total cost is at its minimum a.marginal cost is equal to average fixed cost. b.average…

A:

Q: Use the equations for the total cost C and total revenue R to find the number x of units a company…

A: A firm breaks even when it makes zero economic profit. It is a situation of no profit no loss.

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: Find Average fixed cost with the following information:- Total fixed cost = $350 Output produced =…

A: The data presented in the question above is:- Total fixed cost = $350   Output produced = $70 The…

Q: 39) If the marginal cost curve is below the average variable cost curve, then A) average variable…

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

Q: Define economies of scale and explain why they might arise. Define diseconomies of scale and explain…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: If marginal cost exceeds average variable cost, average variable cost is decreasing average variable…

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

Q: Average Cost falls when a. Marginal cost is greater than average cost b. Marginal cost is equal to…

A: Marginal cost and average cost are derived from the Total cost there is a relationship between the…

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

A: Providinf full. Solution.

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: If the total quantity is 100, the average fixed cost is 10, then we can say that the total fixed…

A: Fixed cost is that cost which remains the same irrespective of the quantity produced by the firm.

Q: • TASK 1 – QUADRATIC FUNCTIONS The demand function for a new product is p(x) =-4x + 42.5, where x is…

A: Since you have provided multiple parts question, we will solve the first three parts for you. If you…

Q: At zero output the total cost is 10 dollars and 20 dollars at one unit of output, the total fixed…

A: Total cost is the sum of fixed cost and variable cost in which fixed cost is independent of output…

Q: In the short run, if average variable cost equals $50, average total cost equals $75, and output…

A: The total fixed cost refers to those costs that remain the same regardless of the level of…

Q: A business incurs the following costs: • Labor: $120/unit • Materials: $45/unit • Rent:…

A: Total fixed costs are the costs that are unavoidable and have to paid irrespective of the level of…

Q: 21

A: Short run production function means where only one factor is variable in nature and other factor…

Q: ABC Company issued a payment for the suppliers of raw materials they used in producing their goods.…

A: Fixed cost is the costs that needs to paid every month or year whether the production process is…

Q: Which of the following best describes total fixed cost?a.The change in total cost when one…

A: Cost in the domain of accounting, the overall costs for a business may be classified into different…

Q: The fixed cost of the firm is $500. The firm's total variable cost is indicated in the table.…

A: Given: Fixed cost=$500 Output Total Variable Cost 1 $ 400 2 720 3 1,000 4 1,400 5…

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: Average fixed cost Multiple Choice may be found by adding average variable cost and average total…

A: Average fixed cost:- Average fixed cost is fixed cost of production per unit of output.…

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: When average cost decreases as output increases, Group of answer choices marginal cost is below…

A: The economies of scale curve is a long-run average cost curve since it permits all variables of…

Q: Fixed costs and Variable costs are considered to be costs.

A: The factor of productions are the labor, raw materials, capital, land etc which incurred some cost.…

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: Total variable cost as output increases, and total fixed cost as output increases Select one: A.…

A: The variable cost is the cost that changes when the output changes. This includes labor cost, cost…

Q: TV manufacturer can produce 200 TVs in a month at a total $140000 and 400 TVs at a total cost…

A: Given the cost for production of 200 Tvs is $140,000. Therefore, the fixed cost is $140,000 as it…

Q: The reason the marginal cost curve eventually increases as output increases for the typical firm is…

A: The marginal cost of production is the difference in total production costs caused by adding one…

Q: Explain why Decreasing cost condition is the best while Increasing Cost Condition is not good

A: Answer to the question is as follows :

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: A company is planning to manufactureand market a new two-slice electric toaster. After conducting…

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

Q: Total variable cost as output increases, and total fixed cost as output increases. Select one O A.…

A: Total Fixed cost is the cost that is incurred on fixed factors and does not change with the level of…

Q: Marginal cost is ________ average variable cost when ________. A) equal to; average total cost is…

A: In economics total cost refers to the market value of the inputs used by the firm in the production…

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: 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: Price and cost (dollars per student) $150 120 - ATC - MC MR 15,000 24,000 30,000 36,000 Quantity of…

A: The maximum number of students will enroll without incurring the economic when: ATC=D This implies…

Q: c) If the total cost of a product is TC = 45 + 5Q − 2Q 2 + 2Q 3 , Find i) Marginal cost function at…

A: Total cost is the cost that includes fixed cost as well as the variable cost of the production…

Q: Classify the following milk bar short-run costs as fixed cost or variable cost  Milk truck Fruit…

A: The short-run is the time period when there is at least one factor which is fixed and cannot 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: 3. XYZ corporation produces widgets. Its short-run marginal cost curve is given by MC (q) = 10 – 5q…

A: Given information MC=10-5q+q^2 Marginal cost is the additional cost incurred by producing additional…

Q: A book publisher hires editors, designers, and production and marketing managers who help prepare…

A: In the production process, the company has to bear different types of cost. In the publication of…

Q: manufacturer!s total cost is C(x) = 0.1x3 - 0.25x2 + 300x + 100 dollars, where x is the level of…

A: We calculate the total cost with x=6 and x=6.1 and then see the difference. TC(6) = 0.1(6)3 -…

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…