ohnson produces bottles. Suppose q is the quantity of bottles produced. Her Total Costs are given by TC(q)=388+q^2 and her Marginal Costs are given by MC(q)=2q. What is her minimum Average Total Cost?

Q: In the short-run, if the marginal cost of a firm in a competitive industry is upward sloping while…

A: The short-run is the time period where at least one variable is fixed and others are variable. In…

Q: Douglas Fur is a small manufacturer of fake-fur boots in Chicago. The following table shows the…

A: Average total cost (ATC) is calculated by dividing total cost by the total quantity produced.…

Q: Suppose you own a television factory and at your current level of output, you have average total…

A: Meaning of Average Total Cost (ATC): The term average total cost refers to the addition of the…

Q: Peter's Pipers producers plumbing pipe. The long-run total cost of Peter's pipes is LTC =…

A: Average cost is the ratio of total cost and quantity

Q: Based on the above information, fill in the following COST TABLE for Green Berry Farms Berry…

A: Formula: Total cost=Total fixed cost+Total variable costTotal variable cost=Quantity of farmworkers…

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: This is a graph of our firm’s costs. Label the lines on the graph using the following labels:…

A: The Average fixed cost is constantly declining. The average variable cost curve is lower than the…

Q: A firm’s total cost of production is given by TC=100q+100q^2. Are the returns to scale increasing,…

A:

Q: Use Exhibit 2. For Comfy Chair Factory, which of the following statements is (are) correct? (x) The…

A: Total cost is the summation of Fixed cost and variable cost . Where varible cost when there is no…

Q: Suppose a firm wants to produce 50 units of output at minimum cost and it has three factories with…

A: The output must be distributed in a such way that equate the Marginal costs across the plants. Or…

Q: Miguel and Jake run a paper company. Each week they need to produce 1,000 reams of paper to ship to…

A: Marginal rate of technical substitution is the ratio of marginal product of labor and marginal…

Q: In the short run, when the output of a firm increases, its average fixed cost

A: To find : What will be average fixed cost.

Q: If the fixed cost of Alex’s engraving business is $100, and the variable cost of each engraving job…

A: The total cost refers to the sum of the fixed costs of production and the variable costs of…

Q: Where Q = quantity, TC = total cost, TFC = total fixed cost, and TVC = total variable cost; average…

A: The average variable cost is the total variable cost per unit of output. The total variable cost is…

Q: Suppose a firm has only three possible plant-size options, represented by the ATC curves shown in…

A: a. 50 units of output - Plant Size 1 b. 130 units of output - Plant Size 2 c. 160 units of output -…

Q: An economist estimated that the cost function of a single-product firm is:…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Suppose Honda's total cost of producing 4cars is $225000and its total cost of producing 5cars is…

A: Given, Total cost of producing 4 cars = $225000 Total cost of producing 5 cars = $ 250000

Q: (b) The marginal cost of two firms is given by the following C'(Q) - 100e 10 TC= 3000 when Q = 0 TC…

A: With the given information the following is solved in the next steps.

Q: A watch manufacturer finds that at 1,000 units of output, its marginal costs are below average total…

A: In business, the average total cost, or ATC, is the sum of all product costs divided by the volume…

Q: In the short run, if a marginal cost of a firm in a competitive industry is increasing while its…

A:

Q: Suppose a bakery’s fixed cost is the rent it pays for its location in a strip mall. Since firms have…

A: Fixed cost refers to those cost that are incurred without any production. In other words, fixed…

Q: Yennefer produces spells. Suppose q is the quantity of spells produced. Her Total Costs are given by…

A: Average cost = total cost / Q  to check minimum value take FOC and SOC.

Q: Katie's Quilts is a small retailer of quilts and other bed linen products. Katie currently purchases…

A: The correct answer is given in the second step.

Q: Rick's ski board factory has the Total Cost function: TC(Q)=0.02Q³ +300Q +200 where Q is the number…

A: The total cost function is the sum of the variable and the fixed cost. The variable cost is the cost…

Q: y has fixed costs of $10 per day and variable costs of $ 1 per loaf . Its oven can handle up to 50…

A: Total cost = Fixed Cost + Variable cost Average fixed cost = Fixed CostQuantity Average Variable…

Q: Month (m): 4 Day (d): 1 Use the two numbers…

A: Fixed cost is that cost which are not depend on the quantity. It's remains same at any output level.…

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 faces a cost function of C = 8 + 4q + q^2, so that its marginal cost is MC=4 + 2q. a)…

A:

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: Marginal cost is given by the slope of total variable cost (TVC) curve, but not the slope of the…

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

Q: Use the table below to answer the following question. Units Total Fixed Cost Total Variable of…

A: Marginal cost eventually we can say that it is the actual change in the value of the total cost…

Q: In Figure 2-a, the average variable cost curve is curve Group of answer choices A D C B

A: Total cost is a sum of fixed cost and variable cost.

Q: Katie's Quilts is a small retailer of quilts and other bed linen products. Katie currently purchases…

A: Assume that Katie needs to sell K quilts to make vertical integration to be a profitable decision.…

Q: Suppose a firm wants to produce 50 units of output at minimum cost and it has three factories with…

A: Perfect Competition refers to the type of market where there is a large number of firms that produce…

Q: Portia owns and manages a sporting apparel company. Consider the given average cost (AC), average…

A: Average fastened prices + average variable prices = short cost as a result of K is fastened within…

Q: 2) C'(Q) = 25 +40Q - 10Q² TC =200 when Q =0 (i) (ii) (iii) Find the total cost function C(Q) for…

A: Total cost is the cost of producing a good or service. Marginal cost is the change in total cost due…

Q: Joey operates a lemonade stand. His cost of the lemons, sugar, and water per 8 oz. glass is $0.15.…

A: The total cost of a firm is determined not just by the fixed costs but also the marginal costs of a…

Q: Give two examples of explicit cost for a firm

A: COST: A loss is the amount of capital used to manufacture anything or provide a service and is…

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

A: a. The fixed cost is the cost that remains the same at all levels of output. Thus, the fixed cost…

Q: Consider the following table illustrating the production function of gadgets. Furthermore, suppose…

A: Answer to the question is as follows :

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…