Marginal cost can be improved by taking which of the following steps? O a. Reducing fixed costs. O b. Increasing the variable cost O c. Changing the business plan frequently O d. Investing the capital in share market
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- What is the difference between fixed costs and variable costs?Return to the problem explained in Table 7.13 and Table 7.14. If the cost of labor remains at 40, but the cost of a machine decreases to 50, What would be the total cost of each method of production? Which method should the firm use, and why?What is die difference between accounting and economic profit?
- 27-Muscat Electricity Distribution Company disconnected the electricity supply to a flat owned by a very poor family that was not able to pay electricity bills for the last 6 months . This action is: O aEthical and illegal O b Unethical and illegal Oc Unethical and legal O d Ethical and legal13- Which one of these will continuously increase as more products are produced? a. Average fixed cost b. Fixed cost c. Variable cost d. None of the choices5) A firm that has positive accounting profit does not necessarily have positive economic profit. True or false? Explain.6) Assume that marginal cost in production is greater than average variable costs. Can you determine whether average variable cost is decreasing or increasing? Explain.
- 28 - : Total variable cost of firm X is 100 and total fixed cost is 20 TL. The firm produces 40 units of goods. What is the firm's average cost in this case? a) 3 B) one NS) 2nd D) 4 TO) 55:23 The amount that a firm pays for all of the inputs that go into producing goods and services is the: O average cost. O total revenue. O total price. O total cost.22. Which one of these will continuously increase as more products are produced? a. None of the choices b. Variable cost c. Average fixed cost d. Fixed cost
- 11- Al Shaihani is a halwa manufacturer which is famous for Omani Saffron Halwa. They wanted to increase their supply of halwa for the coming month of August 2021. However, due to COVID-19 Pandemic, the only available resources they could change are the number of their workers. Determine which type of production period Al Shaihani business is facing? a. Long run b. All of these c. Short - run d. Mid-run2. As a general rule, when accountants calculate profit they account for explicit costs but usually ignorea. certain outlays of money by the firm.b. implicit costs.c. operating costs.d. fixed costs.17. Refer to Figure 1. Curve 2 is Outdoor Equipment's Select one: a. Average total cost curve. b. Marginal cost curve. c. Average fixed cost curve. d. Average variable cost curve.