Hexo Corporation produces cannabis. It is currently is producing 500 ounces of output In the short-run. It has ATC of $300, and Its AVC are $220. Hexo Corporation's total varlable costs are: Multiple Cholce S110.000. $80. are not possible to calculate. $150,000. $40,000.
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- What is die difference between accounting and economic profit?34- 34 - : If firm X produces 20 units of product with a total cost of 100, what is its average cost? a) 2nd B) 120 NS) 80 D) 5 TO) oneProblem 1Advanced Electronics (AE) is a computer chip manufacturer. It has monthly fixed costs of $4,000,000. Its marginal costs are $1.00 per chip.· What happens if sales fall by 20% from 3,000,000 to 2.400.000 chips per month?⢠What happens to average fixed costs (AFC) per chip and the marginal costs per widget?⢠If sales fall by 20 percent from 3 million chips per month to 2,400,000 chips per month, what happens to the AFC per paper, the MC per paper, and to the minimum amount that you must charge to break even on these costs?Hint: Here Marginal Cost (MC) is constant, which implies that Average Variable Cost (AVC) is constant and equals MC. This does not imply Average Total Cost (ATC) is constant or has to equal MC. Total Cost (TC) = Fixed Cost (FC) + Variable Cost (VC). Divide through by the quantity Q, which implies TC/Q = FC/Q + VC/Q. This gives us ATC = AFC + AVC.Problem 2Assume that the cost data in this table are for a purely…
- *need correct answer for this practice question plzA firm has the following cost curves: Q MC VC FC TC AVC ATC 0 --- 0 30 30 --- --- 112 2 22 26 3207214 4 72 25.5 55015224.4 a) Fill in the blanks.Zodiac Furniture is considering the production of anew line of metal offi ce chairs. Th e chairs can be producedin-house using either process A or process B. Th e chairs canalso be purchased from an outside supplier. Specify the levelsof demand for each processing alternative given the costs in thetable. Fixed Cost Variable Cost Process A $20,000 $30Process B $30,000 $50Outside Supplier $0 $50
- Thelma has a long term lease on her cotton farm with an annual lease payment of $10,000. Prior to planting in the spring of 2020, she predicts that she will have $5000 left after paying all of her costs except for the annual lease payment. In this case, what should Thelma do?Select one:a. continue to operate because total revenue exceeds total costb. shut down and experience an accounting loss of $5000c. continue to operate even though she predicts an accounting loss of $5000d. exit the market and experience an accounting loss of $10,000Printer quotes a price of a birr7500 for printing 1000 copies of a book and birr.15000 for printing 2500 copies. Assuming a linear relationship and that 2000 books are printed.(A)What is marginal cost of the last book printed.(B)Calculate ATC,AVC,AFCProblem 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?
- Please no written by hand and no emage 1) Complete the following table: Total Cost 50 Output 0 345 WNIO 1 2 3 6 BORONG Output 0 60 123456 75 100 150 225 400 2) Apu leases 2 squishy machines to produce 40 squishies in the short run. Apu's short-run cost function is: C(q, K) = 0.85-9² +0.5K, where q is the number of squishies produced and K is the number of squishy K² Total Cost Variable Cost machines used. Apu's long-run cost function is: CLR(q) = 1.139 what happens to Apu's short-run average total cost of producing 40 squishies? Does Apu's long-run cost function exhibit increasing, constant, or decreasing returns to scale? 3) Complete the following table: 90 180 Fixed Cost Variable Fixed Cost Cost 60 10 Marginal Cost 80 Marginal Cost 20 213. 50 If Apu decides to lease 7 squishy machines,A company produces two products. FC = Total Fixed costs = $580VC1= variable costs from product 1 = $920VC2= variable costs from product 2 = $805TR1= revenue from product 1 = $900TR2= revenues from product 2 = $900In the short run, what should the firm do? a.Produce product 1 but not 2 b.Produce neither c.Produce both d.Produce product 2 but not 11. Minimize short (K fixed atK ) and long run cost of the following production technologies: a. q = 6K1/4L1/3 b. q = 20K1/2L1/2 c. q = K2L3 2. Derive the Short Run and Long Run Marginal Cost functions and determine whether Marginal Cost is increasing or decreasing with output. Explain why. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.