Q: Explain the term Explicit and Implicit costs. Give examples
A: Implicit costs are costs that arise which are not registered for accounting purposes without…
Q: The firm producing 7 units iPhone in a hour and cost of producing it at $250 What is firm total…
A: Given values: Number of iPhones (Q) = 7 units Cost of producing one iPhone = $250
Q: With the following data, calculate the firm’s AVC and MVC and draw the graphs for TVC, AVC, and MVC.…
A: The ‘Average variable costs’ represent the ‘variable costs’ per unit, including material and work,…
Q: A firm making bicycles is dismayed to learn its workers are planning to strike for higher wages. If…
A: `When the cost of production increases due to the increase in the wage rate then it implies there…
Q: The cost, in dollars, of producing x yards of a certain fabric is C(x) = 1100 + 13x − 0.1x2 +…
A: Answer: Given, The total cost function, Cx=1100+13x-0.1x2+0.0005x3 (a). To find the marginal cost…
Q: Examples how a firm may suffer from diseconomies of scale
A: Diseconomies of scale happen when an organization or business firm develops so enormous that the…
Q: (a) What is the total economic cost? (b) How would accounting and economic costs change if the…
A: Opportunity cost is the foregone benefit that arises from the alternate option that is not chosen.
Q: Fillipe quit his old job where he had been earning $2,000 a month to start his own business. He also…
A: Salary = 2,000 Income from business = 1,000
Q: How General Motors improve or operate their economies of scale?
A: This significant car maker has encountered interruptions to its tasks as interest in autos has…
Q: Use the following to answer questions 3-8: Number of Workers Total Cost 1000 1 2200 2 3200 4000 4…
A: cost of production is the monetary value spent on inputs in producing output . And it is the…
Q: The total cost (in dollars) of producing x food processors is C(x) = 1600 + 40x – 0.7x². (A) Find…
A: (A) Given:C(x)=1600+40x-0.7x2Now,Exact cost of producing the 21st food processor is:Cost of 21st…
Q: 11.)(*) Ollah’s Organic Pet Shop sells about 4,000 bags of free- range dog biscuits every year. The…
A: We are going to use Economic Order Quantity and Total holding & operating cost concept to answer…
Q: What is a cost that changes with the change in volume of activity of an organization
A: The cost that changes with the change in volume of activity of an organization or in other words,…
Q: 1. The cost-revenue data for a manufacturing company Item Cost or Revenue Selling price $85/unit…
A: The average cost is the per-unit cost which is calculated by taking the ratio of the total cost to…
Q: The table below shows some of the costs incurred at Betty's Bakery. Complete the boxes in the table.…
A: For the computation of this table we will use following formula; Total cost = Fixed cost FC + Total…
Q: FIRM X SPENT $100m to upgrade its equipment last year. this year, the amount represents: a. An…
A: Taking definition of each statement An accounting cost : its cost of operating a business it…
Q: Research an instance of an actual firm that has been engaged in cost-cutting measures. What actions…
A: We are considering an example of Dell EMC. Cost-cutting refers to measures executed by an…
Q: What is the total cost of producing 200 units 125 150 180 210
A: Total Cost = Average Total Cost*Quantity TC at 200 units = 0.75*200 = 150 TC at 125 units =…
Q: On which factors does total cost for heating or air conditioning a building depends?
A: The sum of all the costs of producing a certain level of output incurred by a company is known as…
Q: A firm producing 1000 units at a total cost of $5000, if it were to increase production to 1001…
A: "Input refers to the raw materials, factors of production or resources used in the process of…
Q: The of an input is the output per unit of the input
A: Inputs are any resources used in the production of goods and services. Labor (workers' time), fuel,…
Q: The total cost to produce hundred motors bikes is $1000. Calculate the average cost of producing the…
A: Given information: Total number of motorbikes = 100 Total cost of production = $1000
Q: Here's the table showing quantity and total cost Q - 0, 1, 2, 3, 4, 5 TC - 8, 9, 10, 11, 13, 19…
A: Given quantities: Q = 0, 1, 2, 3, 4, 5 Total Cost, TC = 8, 9, 10, 11, 13, 19
Q: Enack Company sells a Potato Chip product that has a constant annual de f chips. Each bag costs ABC…
A: *Answer:
Q: A technology firm has determined that their lowest total cost production technology is $880. If…
A: The lowest total cost of production technology is $880 The machines cost is $100 The company has…
Q: The firm has been working with variable cost of 100 dollars and it has fixed costs 100 dollars as…
A: Given variable cost of the firm = $100 Given fixed cost of the firm = $100
Q: How to calculate the Average cost of producing 1, 2,...15
A: average cost = C/Q = 1000 + 100*Q for every Q we first calculate the C by using the formula C=1000+…
Q: Noel's sandwich shop incurs these costs while in business: $6,000 in wages, $2000 on leasing…
A: Sunk cost is the cost which is already incurred and cannot be recovered so using sunk cost in…
Q: y C= 600 + 40Q^0.3 + 5 Q^2: a) Find out the fixxed cost, variable cost, margina ost average variable…
A: Variable costs vary based on the amount of output produced. Variable costs may include labor,…
Q: 2. A firm produces 200 units and total cost of production is $4000. When they increase output to…
A: The total cost(TC) of the firm refers to the sum of all costs which is incurred in producing a…
Q: Lisa and Adam started a business that manufactures cutting tools. They sell the tools for $80 each.…
A: Use Formulas: Total Variable Costs: TVC=VC x X Total Costs: TC=FC+TVC Total Revenue: TR=S x X…
Q: What does it mean that “ideally, utilization should be limited by demand and not setup or down…
A: Answer: Answer is push system.
Q: What type of cost is included in economic costs, but not included in accounting costs? a. Explicit…
A: Accounting cost includes all the explicit cost. In other words, all the payment made by the business…
Q: A firm is producing 20 units with an averagetotal cost of $25 and a marginal cost of $15. Ifit…
A: Costs are the expenses that firms incur in the production of goods and services.
Q: How Toyota Motors operate their economies of scale?
A: In economics, the costs of production can be studied under two time periods- the short run and the…
Q: A business incurs the following costs: • Labor: $105/unit • Materials: $40/unit • Rent:…
A: Given Information • Labor: $105/unit • Materials: $40/unit • Rent: $350,000/month Firm…
Q: what is the marginal cost of the third unit?
A: Ans. 1.15 Marginal Cost is defined as the change in the total production cost that is generated from…
Q: tion 32 ne vertical distance between average variable cost and average total cost represent 2…
A: OPTION A - AFC ATC = AFC + AVC AFC = ATC - AVC AFC is always positive. AFC keeps on decreasing as…
Q: Complete the below table if the fixed the costs of production is $6000. Price Quantity TR Fixed cost…
A: Given fixed costs = $6000
Q: nanufacturer of hospital supplies has a uniform annual demand for 180,000 boxes of bandages. It…
A: Supply and demand represent the working of a market and the cooperation among providers and…
Q: The table below shows the maximum output levels for Here and There. Cloth 110 Computers 60 120 Here…
A: Opportunity cost of production of an item alludes to the expense which the maker needs to forfeit…
Q: Assume TC = 400 + 2Q3 What is the marginal cost at the 4th unit? Enter as a value.
A:
Q: For firm A, the revenue generated for the month of July is $36,000 and the explicit cost is $22,000…
A: The information being given is:- Total revenue for firm = $36,000 Explicit cost = $22,000…
Q: Why are the total costs associated with reverse logistics increasing? Will this trend continueinto…
A: Reverse logistics can have a big impact on the price of owning an item, and is a vital factor to…
Q: Question: The costs which vary as the level of putput varies are called: ) Prime costs ) Indirect…
A: Cost basically refers to the monetary value of goods or services that the consumers buy and the…
what is the difference between capacity and automation.
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