Answered: It costs a baker a fixed cost of $420…

It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake.A cupcake is sold for $4.90 each. (i) Make a table showing the cost of producing 20,40,60,80 and 100 cupcakes.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

See similar textbooks

Related questions

Q: Joey is opening a coffee shop and he needs to decide how many baristas he should staff. He did some…

A: The following problem has been solved as follows:

Q: A bookstore expects to sell 100 calculus textbooks during the next year. It costs $3.20 to store one…

A: The cost of inventory includes the cost of purchased merchandise, less discounts that are taken,…

Q: If total cost is $2100 and the output is 40 units Calculate average cost

A: The information being provided to us is:- Total cost of the firm = $2100 Output = 40 units

Q: A call center in India used by U.S. and U.K. credit card holders has a capacity of 1,500,000 calls…

A: Given, Total capacity of call annually = 1,500,000 Total fixed cost = $ 850,000 Average variable…

Q: Bags/Participants Fixed Cost Variable Cost Total Cost 0. $1,700 $- $1,700 100 $1,700 $500 $2,200 200…

A: At breakeven point there is no profit or loss. At breakeven point, total revenue is equal to total…

Q: Savemart needs 1000 coffee makers per year. The cost of each coffee maker is $78. Ordering cost is…

A: Annual demand = 1000 Ordering cost = $100 Per unit cost = $78 Carrying cost = 40% per unit Holding…

Q: If total cost is $3000 and fixed cost is $1000 Calculate variable cost

A: The data presented in the question above is:- Total cost incurred = $3000 Fixed cost = $1000…

Q: Q2. A company manufactures and sells wallets. The selling price is 54.90 AED per wallet. The total…

A: a) Cost function: C(x)=Ax+B Now, C(x)=50,000 ; x=2000 C(x)=32,120 ; x=800 Thus, 50,000=2000A+B…

Q: BC Company produces 100 pendants per day. The total fixed cost for the plant is $5000 and the total…

A: Company produces Q = 100 pendants Total fixed cost TFC = $5000 Total variable cost TVC = $15000

Q: The difference between variable cost and fxed cost is that Select one: a. fixed cost is paid even…

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

Q: Thornton Enterprises produces a product with fixed costs of $18,100 and variable cost of $4.10 per…

A: Given:- Fixed cost = $18,100 Variable cost per unit = $ 4.10 Unit of product sell = 11,000 Desired…

Q: Calculate the profits when total cost is $2900 and the total revenue is $3300

A: # The difference between the total revenue and the total cost incurred by the firm gives the profits…

Q: If explicit cost are $4400 and the accounting profit is $6000 Calculate the value of total revenue

A: Given: Explicit cost=$4400 Accounting profit=$6000 To find: Total revenue

Q: If output is 34 unit and total cost is $1300 Find average Cost

A: According to the question, the values given are:- Output = 34 units Total cost = $1300 We need to…

Q: Find the total cost if the fixed cost are 1300 and the variable cost are 1200

A: The monetary worth of goods and services purchased by producers and consumers is referred to as cost…

Q: If total cost is $320 and output is 4 units Calculate AC

A: The information being given to us is:- Total cost of the firm = $320 Output = 4 units We have to…

Q: company makes iron benches and wants to determine the break-even point. The total fixed cost for the…

A: Fixed Cost = 60,000 Variable Cost = 40 Selling Price = 100

Q: ATC4 LRATO ATC ATC OUTPUT COST PER UNIT

A: Average total cost is the total cost incurred for a single unit of output out of the total output.…

Q: Calculate the value of total revenue if profit is $3000 and total cost is $1800

A: According to the above given question,we have the values:- Total cost = $1800 Profits = $3000 Using…

Q: A mail carier at the U.S Postal Service works on Sunday delivering high priority letters and…

A: The cost function is the total work that the individual has to do in regards with the units of…

Q: If in an economy the fixed cost is $212 and the variable cost or $644 what are the total cost?

Q: Bags Fixed Cost Variable Cost Total Cost 0 $1,700 $ - $1,700 100 $1,700 $500 $2,200 200…

A: Break-even Analysis- Breakeven is the point at which a firm must cover its costs of production.…

Q: DuChien Corporation recently produced and sold 100,000 units. Fixed costs at this level of activity…

A: Total cost is the cost of using the factors of production for producing the goods. Total cost…

Q: Estimate the total cost of a house (from purchasing a lot to furnishing it) using the following…

A: The total cost is calculated as follows.

Q: A small company manufactures a certain product. Variable costs are $20 per unit and fixed costs are…

A: Given: Variable costs=$20 Fixed costs=$10875 P = -0.25D + 250

Q: An article has a Selling Price :Rs. 12 Per Unit Variable Cost : 2/3 of SP Fixed Cost :Rs. 40,000…

A: P = 12/unit FC = 40,000 VC = 2/3 * 12 VC = 6/unit Say quantity = Q

Q: If AFC=60 and ATC=120 when output is 100, then total variable cost must be:

A: We can find the average variable cost by taking the difference between average total cost (ATC) and…

Q: A company operates a summer camp. The cost data for a 12-week summer camp is as follows: Charge per…

A: Variable cost is the cost that changes with the change of production level of the company.

Q: Calculate profits if total revenue is $6500 and the total cost is $2300

A: The information being given to us is as follows:- Total revenue = $6500 Total cost = $2300 The…

Q: Total cost is $350 and the output is 13 units Calculate average cost

A: The information being given is:- Total cost of the firm = $350 Output = 13 units We have to…

Q: A car wheel making company has the following data related to cost: Total Cost = $ 15000 + 1000X and…

A: Total cost = 15000 + 1000X Total Revenue = 2500 X

Q: A call center in India used by U.S. and U.K. credit card holders has a capacity of 1,400,000 calls…

A: Production capacity refers to the total amount of goods that can be produced by a firm with the…

Q: Calculate total cost when TFC is $200 and TVC is $59

A: It's given that:- Total fixed cost = $200 Total variable cost = $59 We know that:- Total cost =…

Q: If the total fixed cost is 4400 and the number units is 10 units find the average fixed cost?

Q: Total variable Total product Total cost cost AFC AVC ATC MC $ 80 110 190 150 230 180 260 *220 300…

A: Average cost represents the per unit cost of production. Marginal cost is the incremental cost of…

Q: HeatAll, manufacturer of radiant heaters (great for heating outdoor dining areas, a “hot” item these…

A: The total cost incurred by a firm includes fixed cost and variable cost. Fixed costs are the costs…

Q: A small business produces and sells balls. The fixed costs are $20 and each ball costs $2.92 to…

A: Given information: The firm sells balls. The fixed cost is $20 and each ball cost $2.92 to produce.…

Q: 2. The total design and construction cost for a digester to handle a flow rate of o.5 million…

A: Answer in step 2.

Q: Total cost and output are $3000 and 60 respectively Calculate average cost

A: According to the above mentioned question, the values are:- Total cost = $3000 Output = 60 units…

Q: EXAMPLE Total cost 1400 1200 1000 800 600 400 200 100 200 Levels of activity, units Based on the…

A: The scatter graph method is a graphical representation used to separate the mixed cost into fixed…

Q: Bags/Participants Fixed Cost Variable Cost Total Cost 0 $1,700 $ - $1,700 100 $1,700 $500…

A: Bags/Participants Fixed Cost Variable Cost Total cost Marginal cost Marginal Revenue 0 1700 -…

Q: A company has a fixed cost of $200,000 and a per unit cost of $35 what is the average cost per unit…

Q: Biwei decides to set up a small business in NYC. The start-up cost is $1000 for a license and the…

A: Perfect competition is a market structure where price = marginal cost at equilibrium in the short…

Q: At what output level is variable costs per unit at a minimum? Supporting Materials Steel Costs $ per…

A: Variable cost per unit is denoted by the AVC curve and it is at minimum when AVC=MCwhere9000 units…

Q: Ace Shoe Company sells heel replacement kits for men's shoes. It has fixed costs of $10 million and…

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

Q: Problem Attached

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: ABC Company produces 100 pendants per day. The total fixed cost for the plant is $6000 and the total…

A: Total fixed cost = $6000

Q: What is the total cost of 2 units? Select an answer and submit. For keyboard navigation, use the…

A: Total cost is the sum of cost spent on purchase of both fixed and variable factors. As Average Total…

Question

It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake.A cupcake is sold for $4.90 each.

(i) Make a table showing the cost of producing 20,40,60,80 and 100 cupcakes.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 3 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

If total cost is $320 and output is 4 units Calculate AC
Bags/Participants Fixed Cost Variable Cost Total Cost 0 $1,700 $ - $1,700 100 $1,700 $500 $2,200 200 $1,700 $1,200 $2,900 300 $1,700 $2,700 $4,400 400 $1,700 $5,200 $6,900 500 $1,700 $9,000 $10,700 600 $1,700 $15,000 $16,700 700 $1,700 $23,800 $25,500 800 $1,700 $36,800 $38,500 900 $1,700 $55,800 $57,500 1,000 $1,700 $83,000 $84,700 Given the above information on cost, if you charge $15 per entry, what is the breakeven quantity of bags that you should order? At what quantity of bags will profits be maximized? A Use the profit maximizing rule, MR ≥ MC, buy 300 bags. B Use the profit maximizing rule, MR ≥ MC, buy 200 bags. C Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 300. D Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 200.
ABC Company produces 100 pendants per day. The total fixed cost for the plant is $6000 and the total variable cost is $15000 per day. Calculate the average fixed cost ?
Big Boss Company produces 125 units of outputat a total cost of $2453. The marignal cost of the 126th unit is $154. What is the total cost of the 126 units?
BC Company produces 100 pendants per day. The total fixed cost for the plant is $5000 and the total variable cost is $15000 per day. Calculate the oer unit total cost ?
A firm fixed cost are $2000 and firm total cost of producing 100 units is $4000
The first unit of a product took 1,000 hours to build and the learning curve is 85%. How long will it take to make the first 5 units? *
Estimate the total cost of a house (from purchasing a lot to furnishing it) using the following estimates: Cost Data House Data Purchasing a lot = $2.50/ft2 Lot size = 100 × 150 ft Construction = $125/ ft2 of livable space House size = 50 × 46, with 75% livable Furnishings = $3000 per room Number of rooms = 6
Solve for A. Variable and fixed cost B. Estimated increase in cost for additional days C. Cost Functions
HeatAll, manufacturer of radiant heaters (great for heating outdoor dining areas, a “hot” item these past few years!), finds that it costs them $160 to produce each heater. The company has total fixed costs of $5 million. If the company manufactures 250,000 units, what is the unit cost?
The first cost is $300,000; the annual operating cost is $40,000; the annual labor cost is $60,000. Calculate the total cost in the first year.