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) one

Q: Suppose that firm 1 is a restaurant, whose costs are ingredients, staff and space. Ingredients and…

A: TC(total cost) is the sum of TFC(total fixed cost) and TVC(total variable cost). TVC is the cost on…

Q: The Warren Watch Company sells watches for $27, fixed costs are $100,000, and variable costs are $14…

A: A variable cost is a corporate expense that changes in proportion to how much a company produces or…

Q: FIGURE 7-2 $100 90 80 70 60 50 40 30 20 10 1 2 3 4 5 6 7 8 9 10 Quantity of Output Refer to Figure…

A: please find the answer below.

Q: Use the following data for answering Questions 3-6: The Haverford Company is considering three types…

A: To calculate the average cost of producing 100,000 , 200,000 , 300,000 and 400,000 devices in a…

Q: Graphically show the relationship between the total fixed cost, the total variable cost, and the…

A: Total Cost = Total Fixed Cost + Total Variable Cost

Q: Suppose the firm achieves total revenue of $1,000 by selling 150 units while facing total costs of…

A: The marginal revenue must be compared to the marginal cost of production to know if the firm must…

Q: Suppose that the total fixed cost for a particular competitive firm is $6. The marginal cost for the…

A: c) Market price is given as $11.  Since the firm is a competitive firm, the profit maximization…

Q: TC=18+2q2   Suppose the firm's output can be sold (in integer units) at $58 per unit. Using…

A: Finding out total cost and Total revenue are very important from micro perspective as it allows…

Q: Use the following data for answering Questions 3-6: The Haverford Company is considering three types…

A: The table for the costs of Plant C is given below:

Q: Consider the following table of long-run total costs for three different firms: Quantity 1 2 3 4 5 6…

A: Economies of scale occur when with an increase in the quantity of the output in the production…

Q: Rasiah's Garden of fruit is a firm selling fruits in a perfectly competitive market. Total fixed…

A: "Since you have asked multiple parts, we will answer only the first part for you. If you have any…

Q: Economics Valles Galactic Industries bought a collection of additive manufacturing machines that…

A: Free Maintenance cost for 200 hours cost after 200 hrs = $200/hour

Q: Consider a perfectly competitive firm in the following position: output = 4000, market price = $1,…

A: There are two possibilities to answer this question either option 'a' or option 'd'  but  we ensure…

Q: The table below presents production data for a particular firm. 1) Use formulas/calculation in excel…

A: Total Fixed Cost = Total Cost - Total Varible Cost Total Fixed Cost = Total Cost - Total Varible…

Q: A firm has the following profit function Profits(q) = R(q) - C(q) = 60q - [120+40q+10q²] %3D %3! 1.…

A: Disclaimer :- As you posted Multipart questions we are supposed to solve the first 3 questions only.…

Q: The following are the cost information of a typical ice tea company in an industry with 100 firms.…

A: Answer -   Marginal cost = It is the cost that firm need to incur to produce one extra unit of…

Q: Exhibit 9a.1: Costs for the Zonker Company Quantity (units per week) Total Cost Total Variable Cost…

A:

Q: A firm has the following demand and average total cost functions: Q = 30 − P ATC =7/Q− 6 +1/2Q…

A: The total revenue of a firm is the total payment it receives from the sale of goods and services.…

Q: Assume that a competitive firm has the total cost function: TC 1q-40q + 710q + 1700 %3D | Suppose…

A: Given total cost function :- TC = 1q3 - 40q2 + 710q + 1700 P = 550

Q: A firm has two plants that produce identical output. The cost functions are C1=346q−8q2+0.5q3 and…

A: Average cost curve is the U shaped curve which means the at first it decreases and reaches at…

Q: Quantity Fixed Costs Variable Costs Total Costs 0 100 0 100 1 100 75 175 2 100 160 260 3 100 ??? 340…

A: The measure that depicts expenses that are incurred for carrying out day to day transactions of a…

Q: Which of the following is why the total cost (TC) curve does not start at the origin?     a) TC…

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

Q: Table Cost.EX2: Costs and Outputs for a Competitive Firm Total Total Output Fixed Variable (Q) Costs…

A: Fixed cost is the cost that remains same at all levels of output. It remains constant. Variable cost…

Q: A perfectly competitive firm has the following total cost function:…

A: Perfect competition refers to the market structure which features more number of sellers and buyers…

Q: Consider Firm GM, a car manufacturer. Suppose you have some information regarding the cost curves of…

A: Average cost is initially more and then decreases.

Q: Suppose a firm producing cell phones is operating such that marginal costs are much lower than…

A: The marginal cost of the firm is the cost it will incur by producing one additional unit of output.…

Q: 11. Graph the cost curve below and explain.   output (Q) P TFC TVC TC 0 8 50 0 50 10 8…

A:

Q: 11. To the economist total cost includes: a. explicit and implicit costs, including a normal profit.…

A: 11. The total expenses being incurred includes both explicit and implicit costs on the resources in…

Q: An economist estimated that the cost function of a single-product firm is C(Q) = 100 + 20Q + 15Q2 +…

A: Hello, thank you for the question. Since there are multiple sub-part questions posted here, only the…

Q: The cost structure of a manufacturer of microchips is described in the table shown below. The firm's…

A: So first need to find TVC by subtracting TFC from TC then find AVC and AFC with the TVC and TFC .…

Q: Suppose that the total fixed cost for a particular competitive firm is $6. The marginal cost for the…

A: MC = TCn - TCn-1 Total variable cost = sum of all marginal costs Average variable cost = TVC ÷ Q…

Q: Melissa manages to sustain her software company in the long run, then: A. her total cost equals her…

A:

Q: Suppose that firm 1 is a restaurant, whose costs are ingredients, staff and space. Ingredients and…

A: Cost: It refers to price of goods and services that the consumer has to pay when they pay goods and…

Q: Refer to Table 7.9 and Figure 7.7 above. What is the marginal gain in output from increasing the…

A: Answer to the question is as follows:

Q: The cost structure of a manufacturer of microchips is described in the table shown below.   The​…

A:

Q: Total Total Average Average Average Output (Q) Fixed Variable Total Marginal Variable Fixed Total…

A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…

Q: Total Total Average Average Average Output Fixed Variable Total Marginal Variable Fixed Total (Q)…

A: The total cost is the addition of all the costs incurred by the firm for the production of a given…

Q: help with this question If a competitive firm finds that its average variable cost is decreasing at…

A: The method by which businesses determine the price and quantity of output that will provide the most…

Q: 10. Problems and Applications Q10 An industry currently has 100 firms, each of which has fixed…

A: The completed table is given below.

Q: The Wacky Widget company has total fixed costs of $100,000 per year. The firm's average variable…

A: Average fixed cost (AFC)=Total fixed costQ AFC=10000010000=10

Q: Suppose a firm’s total cost curve is TC = 50Q2 + 10Q + 800 and marginal cost is MC = 100Q + 10. Find…

A: The marginal cost curve cuts the average cost curve and average variable cost at their respective…

Q: Use the following data for answering Questions 3-6: The Haverford Company is considering three types…

A: For the above question, the correct alternative is B.