Q: of 2 million units. The price that consumers are willing to pay for this output is $50 per unit. If…
A: The marginal revenue curve is a horizontal line at the market price, implying perfectly elastic…
Q: sume that a firm can produce product A, product B, or product C with the resources it currently ys.…
A: Given Product Market Price Output Total Cost A $5 8 30 B $4 20 30 C $1.5 50 30
Q: $ Total Cost 100 140 Quantity 160 190 4 240 300 370 450 550 Refer to the above information to answer…
A:
Q: Total Total Cost Output 1,000 2,000 2,800 3,500 4 4,000 4,500 5,200 7 6,000 8. 7,000 Refer to Table…
A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…
Q: Refer to Figure 5.1. On the graph that shows total costs, what is the level of variable costs when 6…
A: The value of money that in turn has been used up for producing a good or delivering a service, and…
Q: on what you paid for the ticket, hased on sunk cost fallacy? O No, because the we naid
A: A ‘sunk cost’ refers to money that has already been spent and that cannot be recovered. In business,…
Q: If You are the owner and only employee of a company that writes computer software that is used by…
A: One of the key motives of forms operating in a market is profit. Profit is the difference between…
Q: The table shows how the output of wool fabric varies with the number of workers employed in a…
A: Diminishing marginal returns means when increases one unit of factor of Production keeps other…
Q: Marginal cost can be defined as the: O Change in fxed costs resulting from one more unit of…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Marginal cost is given by 20 + 10Q- 12Q2. Fixed cost is 100. What is the average cost? O A. 100 -3Q2…
A: Marginal cost means the cost incurred by the producer for producing an extra unit of commodity. and…
Q: QUESTION 4 Marginal cost is the: O A. rate of change in total fixed cost that results from producing…
A: A company experiences two sorts of costs in the short-run. The first one is variable cost that…
Q: Output TFC TVC TC MC ATC A 25 25 --- --- ---- -- В 1 25 25 50 25 50 C 2 25 40 65 32.5 D 3 25 70 95 E…
A:
Q: Suppose Joann knows the average total cost of producing 9 gallons of ethanol is $5, while the…
A:
Q: COST QUANTITY OF OUTPUT TC Refer to Figure 13-3. Which of the following can be inferred from the…
A: Diminishing marginal utility alludes to the peculiarity that each extra unit of gain prompts a…
Q: Total Total Cost Output 1,000 2,000 2,800 3. 3,500 4 4,000 5. 4,500 5,200 7 6,000 8 7,000 Refer to…
A: MC= (TCn -TCn-1)/Qn-Qn-1AC = TC/Q.
Q: 41. A firm's average fixed cost is Rs.20 at 6 units of output. What will it be at 4 units of output?…
A: Average fixed cost = total fixed cost /quantity of units produced So, Total fixed cost =20*6…
Q: a. (A-Marginal Cost, B-Average Variable Cost, C-Average Total Cost) O b. (A-Average Total Cost,…
A: Total fixed cost divided by output gives the average fixed cost. Average variable cost equals total…
Q: Total Total Average Average Dutput (Q) Fixed Variable Total Variable Total Marginal Cost Cost Cost…
A: Note: You have uploaded more than one question at a time. Hence, we shall solve only the first one…
Q: What is the diference between accounting proft and economic profit? OA Economic profit subtracts…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: If You are the owner and only employee of a company that writes computer software that is used by…
A: Opportunity cost: - opportunity cost is a forgone benefit which we could have earned by applying all…
Q: 2. 3 pts Question 6 Table 5.1 Total Total Cost Output 0. 000 0 1. 3,500 3. 4 000' 4,500 5. 5,200 9.…
A: find below the answer
Q: The curves below reflect information about the cost structure of a firm. Cost (S) B Quantity of…
A: Curve A shows marginal cost curve, it intersects the curve B and C at their minimum points.
Q: When the marginal cost curve is above the aveny O rising O falling O coastar O at ts oi O aponal to…
A: Marginal cost is the expense that is incurred by a business firm when it produces additional unit of…
Q: The short run is a period of time in which: OC. Prices and wages O A. The quantities of some…
A: Input resources are those resources that are used in the production process to produce the output.
Q: 12 What is the marginal cost if average cost is AC = 2Q2 - 3Q+4+ %3D Q O A. 3Q2 – 3Q + 4 O B. 3Q2…
A: Marginal cost measures the additional cost incurred in order to produce an additional unit of…
Q: Total cost is calculated as Lütfen birini seçin: O A. the sum of average fixed cost and average…
A: Sum of average fixed cost and average variable cost is the average total cost. The sum of all the…
Q: Marginal cost can be defined as the: O Change in fixed costs resulting from one more unit of…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Payment made to others is known as O a. Implicit cost O b. Production cost O c. None of these given…
A: When a firm or individual makes a payment to someone else, in the form of salary or rent, etc. It is…
Q: If the Marginal Cost MC = 130 + 0.6Q2 , and the Fixed costs are 40, then the Total Cost is TC =…
A: Answer: Given, MC=130+0.6Q2Fixec cost=40 Calculation: TC=∫MC…
Q: The Mazoon Company paid for the advertisement of their milk and milk products to Oxygen Advertising…
A: Oppurtunity cost is defined as the cost incurred by any individual when benefits associated with the…
Q: If a firm will produce an additional unit of good or services, determine what will happen to their…
A: The total cost of production equals the sum of the fixed cost and the variable cost. The fixed cost…
Q: For LG Company, the total cost of producing 200 refrigerators is R.O 48,000. When the company…
A: Marginal cost is the cost that is incurred when additional output is produced. MCn=TCn-Tcn-1 Total…
Q: An example of variable cost is. Select one: O a. Wages O b. Budlings C. Rent O d. Machines
A: There are two type of cost which is used in production - 1) Fixed cost 2) Variable cost 1) Fixed…
Q: PPF is based on Select one: a. Indirect cost O b. Opportunity cost c. Variable cost O d. Fixed cost
A: The production possibility frontier (PPF) the combination of two goods and services which can be…
Q: Consider ADNOC decreasing the hourly wage rate (i.e., hourly salary) to all workers employed in her…
A: Fixed cost is the cost that is independent of the total number of units produced, whereas, variable…
Q: QUESTI ON 16 Suppose that for a particular firm the only variable input into the production process…
A: Disclaimer :- as you posted multiple questions we are supposed to solve the first one only as per…
Q: QUESTION 2 The average total cost to produce 100 cookies is S0.35 per cookie. The marginal cost is…
A: ATC(average total cost) is the ratio of TC(total cost) and quantity. ATC=TC/Q MC(marginal cost) is…
Q: Marginal cost is given by 20 + 10Q – 12Q². Fixed cost is 100. What is the average cost? 100 3Q? +…
A: Marginal cost is the additional cost incurred on the production of one extra unit of output. Average…
Q: Marginal cost is average variable cost when O a. equal to; average variable cost is minimized. O b.…
A: Since you have posted multiple questions, we are answering the first one for you. If you want a…
Q: Maria's sandwich shop finds that when it caters 45 meals a week, its total cost is $8,500. If Maria…
A: Answer to the question is as follows:
Q: A firm has a fixed production cost of $1,000 and a constant marginal cost of production of $700 per…
A: Given that, Total fixed cost (TFC) = $1,000 Marginal cost (MC) = $700 1)Total fixed cost remains…
Q: Total Total Average Average Output Fixed Variable Total Variable Total Marginal (Q) Cost Cost Cost…
A: The formula is: ATC=TCQ TC=900 Q=150
Q: Mary Berry Cakes produces 10 cakes per day. The marginal cost of the tenth cake is $15, and average…
A: The marginal cost is the additional cost of producing an additional unit of output. It is the…
Q: Total Total Average Average Fixed Variable Total Variable Total Marginal Output (Q) Cost Cost Cost…
A: Marginal cost is the additional cost incurred with an additional unit produced.
Q: Marginal cost is given by 30 + 20Q- 12Q2. Fixed cost is 100. What is the average cost? 30 OA 3Q +…
A: Answer- Need to find - Avg. cost Given in the question- Marginal cost = 30 + 20Q - 12Q2 Fixed cost…
Q: Figure: Cost curves for a firm Price MC 17+ 16 15 14 ATC Duantiy Refer to Figure. At the price of…
A: Total cost is the sum of variable cost and Fixed cost, total cost shows how much cost incurred in…
Q: QUESTION Other things equal, if the fixed costs of a firm were to increase by $100,000 per year,…
A: Fixed cost is a cost which remain fixed or unchanged at all the level of output. Fixed cost is…
Q: A normal profit for a self-employed entrepreneur is 1. an opportunity cost. II. part of the implicit…
A: Normal Profit = Total revenue – Total Cost ( implicit cost + explicit cost)
Q: Georgia quit her old job where she had been earning $50,000 a year to start her own business. She…
A: Q1 Economic profit = accounting profit - implicit costAccounting profit =70000Implicit cost = last…
Q: =tu1et10r.07.099 ● Question 18 of 20 Which of the following statements is true? O a. When marginal…
A: Answer to the question is as follows:
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- What is the relationship between marginal product and marginal cost? (Hint: Look at the curves.) Why do you suppose that is? Is this relationship the same in the long run as in the short run?Are fixed costs also sunk costs? Explain.Average cost curves (except for avenge fixed cost) tend to be U-shaped, decreasing and then increasing. Marginal cost curves have the same shape, though this may be harder to see since most of the marginal cost curve is increasing. Why do you think that average and marginal cost curves have the same general shape?
- How would an improvement in technology, like the high-efficiency gas turbines or Pirelli tire plant, affect me lung-nm average cost curve of a firm? Can you draw the old curve and the new one on the same axes? How might such an improvement affect other firms in the industry?Compute the average total cost, average variable cost, and marginal cost of producing 50 and 72 haircuts. Draw the graph of line three curves between 60 and 72 haircuts.Automobile manufacturing is an industry subject to significant economies of scale. Suppose there are four domestic auto manufacturers, but the demand for domestic autos is no more than 2.5 times the quantity produced at the bottom of the long-run average cost curve. What do you expect will happen to the domestic auto industry in the long run?
- Return to Figure 7.7. What is the marginal gain in output from increasing the number of batters from 4 to 5 and from 5 to 6? Does it continue the pattern of diminishing marginal returns? Figure 7.7 How output Affects Total costsDo you think that the taxicab industry in large cities would be subject to significant economies of scale? Why or why not?Based on your answers to the WipeOut Ski Company in Exercise 7.3, now imagine a situation where the firm produces a quantity of 5 units that it sells for a price of 25 each. What will be the companys profits or losses? How can you tell at a glance whether the company is making or losing money at this price by looking at average cost? At the given quantity and price, is the marginal unit produced adding to profits?
- Consider the following cost information for apizzeria:Quantity Total Cost Variable Cost0 dozen pizzas $300 $ 01 350 502 390 903 420 1204 450 1505 490 1906 540 240a. What is the pizzeria’s fixed cost?b. Construct a table in which you calculate themarginal cost per dozen pizzas using theinformation on total cost. Also, calculate themarginal cost per dozen pizzas using theinformation on variable cost. What is therelationship between these sets of numbers?Explain.Consider the following cost information for a pizzeria:Quantity Total Cost Variable Cost0 dozen pizzas $300 $0I 350 502 390 903 420 1204 450 1505 490 1906 540 240a. What is the pizzeria's fixed cost?b. Construct a table in which you calculatethe marginal cost per dozen pizzas using theinformation on total cost. Also, calculate themarginal cost per dozen pizzas using the inforpmation on variable cost. What is the relationshipbetween these sets of numbers? Explain.Draw an example of the Total Fixed Cost, Total Variable Cost, and Total Cost of acompany whose marginal cost is constant for all Q>0. (Please have the quantity (Q) on thehorizontal axis and money on the vertical axis. You do not need to provide thefunctional form or numbers, just the graphs with the appropriate shape)
