Q: If marginal cost is above average variable cost, then Select one A average variable cost is constant…
A: Marginal Cost (MC) is the change in total cost for an additional unit of output produced. Average…
Q: If marginal cost is $69 and the change in output is 17 units Calculate change in total cost
A: The information being given is as follows:- Marginal cost = $69 Change in output = 17 units Change…
Q: A firm encountering economies of scale over some ange of output will have a: rising long-run average…
A: The economies and diseconomies of scale affect the shape of average cost curve.
Q: Marginal cost intersects average total cost at minimum average total cost. True False
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A: Marginal cost is defined as the extra coat a firm incurs by employing an extra unit of input.
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Q: Use the table to answer the question below: Quantity Total Cost 0…
A: Marginal cost is the additional cost incurred when the additional unit of output is produced.
Q: An implicit cost is another name for a(n): Explicit cost Production cost Economic…
A: Option D Implicit cost is a cost to a business that occurs due to the cost of resources that were…
Q: Calculate Marginal cost when total cost rises from $30 to $70 and the output rises 2 to 3 units
A: We are given that the total cost has increased from $30 to $70 TC1 = $30 TC2 = $70 Output has also…
Q: A manufacturing firm has a total cost curve : TC= 0.25Q^3 - 6Q^2 + 50Q + 240, and a marginal cost…
A: It has given, TC=0.25Q3-6Q2+50Q+240MC=0.75Q2-12Q+50Now,MC'(Q)=1.5Q-12=0Therefore,1.5Q=12Q=8Now, for…
Q: the long run average total cost curve's minimum intersects what on the short run cost curve?
A: The long run average total cost curve's minimum intersects with the minimum of short run average…
Q: The total cost changes from 92 to 122 and the quantity changes from 1 to 2 Calculate the value of…
A: # change in total cost divided by the change in total quantity is referred to be as the marginal…
Q: Calculate the value of marginal cost when total cost falls from $70 to $55 and the quantity rise…
A: # Marginal cost is the additional change to the total cost when production goes on.
Q: The value of average cost is $80, the value of average variable cost is $49 Calculate the value of…
A: We know that the total cost is given as:- TC = TFC + TVC Dividing both sides with output:- AC = AFC…
Q: Draw average variable cost ,average total cost and marginal cost curve in a single diagram!!!!
A: According to the given question All the average variable cost ,average total cost and the marginal…
Q: Fill in the blanks with: (a: rising) (b: at a minimum) (c: at a maximum) (d: falling) (e: constant)…
A: Marginal cost is the measurement of change in the total cost with the increment of one unit of…
Q: If marginal cost is less than the average variable cost and output increases, average total cost…
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Q: Minimum average costs occur when: Select an answer and submit. For keyboard navigation, use the…
A: When firms operate in a market, they incur fixed costs and variable costs. Fixed costs do not depend…
Q: Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of…
A: Total cost is the sum of all costs incurred during the production process. The total cost can be…
Q: At Jody's bakery they are currently selling 400 loafs of bread. It cost them $4,000 to buy an oven,…
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Q: Write a short note on Increasing economies of scale – meaning and effect on costs
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Q: Find total cost given that:- Fixed cost = $90 Variable cost = $45
A: The data presented in the question above is:- Fixed cost = $90 Variable cost = $45 Total cost is…
Q: Use the following scenario to answer the questions that follow. Steve owns a bike store. His total…
A: (A) Variable cost refers to the cost that does change with change in level of output.
Q: ben diseconomies of scale occur: A the long-run average total cost curve B. marginal cost intersects…
A: Firm produces final goods and services using the factors of production which are broadly divided…
Q: Total cost divided by quantity of output is Select one: a. average variable cost b. average total…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Graphs must display The Marginal Cost Curve is shaped like a Nike swoosh. The Marginal Cost Curve…
A: 1. The marginal cost is the cost that is caused to the firm through the increased production of the…
Q: A firm's total cost is $12,000. Its variable cost is $5,500. What is the firm's fixed cost?
A: Correct : Fixed cost= $6500 Fixed cost is the part of total cost that does not depend on output and…
Q: In the short run, if marginal product is at its maximum, then A) average cost is at its minimum B)…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: The long run average total cost curve is tangent to an infinite number of short run _______ cost…
A: The long-run average total cost (LATC) curve of a firm demonstrates the minimum or the least average…
Q: Calculate TFC if average fixed cost is $30 and output is 50
A: The information being given is:- Average fixed cost = $30 Output = 50 units Total Fixed cost = ?
Q: Calculate marginal cost if change in total cost is $630 and the change in output is $17
A: The given information is as follows:- Change in total cost = $630 Change In output = 17 units We…
Q: Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of…
A: The firms total costs are equal to the sum of its variable costs and fixed costs. Fixed costs are…
Q: For a restaurant that sells hamburgers, which of the following costs would be a variable cost? O The…
A: Variable cost is those cost which is not fixed in nature. These costs change in proportion to…
Q: When diseconomies of scale occur: CA. the long-run average total cost B. marginal cost intersects…
A: The average total cost (AC) is the per unit cost of production of the firm. The long run average…
Q: Fill in the blanks with: (a: rising) (b: at a minimum) (c: at a maximum) (d: falling) (e: constant)…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Calculate Marginal cost when the total cost changes from 15 to 45 and the quantity changes from 10…
A: # Marginal cost measures the change in total cost when the quantity changes. MC = change in TC /…
Q: Which of the following is not a variable cost at the sandwich shop? Cost of labor O Cost of tomatoes…
A: Definition: Variable costs are costs that depend on the number of goods or services it produces. An…
Q: Melody Music Store has a total cost function of TC = 500 + 10Q + 5Q?. (a) Find the firm's fixed…
A: Total Cost is defined as the sum of Fixed Costs plus Variable Costs. Fixed Costs are those costs…
Q: Tong ruh, keep outpu Iikely do Shift to operate on ATC2 Shift to operate on ATC3 Shut down Stay on…
A: The above given cases are analyzed as follows:
Q: Calculate Marginal cost if total cost changes from 80 to 160 and output rises from 1 to 3
A: We are given that :- TC1 = $80 and TC2 = $160 Total cost rises from $80 to $160 And the output rises…
Q: Which of the following are true? (check all that apply) a.the average fixed cost is increasing if…
A: Note : Since the question has multiple sub parts , only the first three sub parts shall be answered…
Q: Calculate the marginal cost when the total cost rises from 30 to 75 and the quantity changes from 1…
A: # Marginal cost Is given as:- = change in Total cost / Change in Quantity
Q: The additional cost of producing one more unit of output is called Variable cost. b. Total cost. C.…
A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…
Q: Marginal cost curve is _______ 1) Straight line 2) U shaped
A: Marginal cost refers to the cost associated with generating one more unit of output. It is the cost…
Q: If marginal cost is less than the average variable cost and output increases, average total cost…
A: Total cost is the sum of total variable cost and total fixed cost. Total variable cost changes with…
Q: How can I construct a cost curve for ATC, AVC, MC
A: Total Cost:The sum of explicit costs and implicit costs constitutes the total cost of the production…
Fill out the following cost chart. Round to the nearest tenth.
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- Please provide answer with method and explanantionBags/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.___________ is the amount or subjective value that is forgone in choosing one activity over the next best alternative.A. Historical costB. Sunk costC. Opportunity costD. Explicit Cost
- One fitness club charges a $10 promo sign-up fee and $15 per month. Another club charges a $25 promo signup fee and $10 per month. For what number of months is the cost of the clubs equal?Make a Cost-Driven Design Optimization similar to thieEmployees at the Jackson Hole Corporation typically take forty-five minutes for lunch when the allocated time is only thirty minutes. Employees are encouraged to eat at the company cafeteria located in the middle of the company facilities. Most employees choose to eat their lunch in the cafeteria. Is there an agency cost here? If so, how can management eliminate or reduce this agency cost? How might management eliminate this agency cost? (Select all that apply.) A. If the facilities are sufficient to handle a thirty minute lunch the solution may be as simple as reaffirming the lunch break time with the employees. B. It may be more costly to enforce the thirty minute lunch time than to accept the standard forty-five minute break currently used by employees. Not all agency costs can be eliminated or reduced. The norms of the employees and the ability of current facilities to support a policy need to be considered when setting policies, in this case the length of the lunch…
- major league baseball plans to sell special commemorative jerseys for the world series. the suppliers says that costs will be C(x)= 10x2-680x-20,000 dollras dor making x jerseys. MLB plans to sell them for 120 dollars each. how many jerseys must be sold for MLB to make a profit?Output quantity Total variable cost Total cost 0 $0 $250 25 450 50 300 X 75 375 100 600 850 125 X 1125 150 1200 X 175 1875 200 2000 2250Solve it early and correctly but not in excel work now
- Subject: Engineering EconEster and George want to make perfume. In order to get the right balance of ingredients for their tastes they bought 4 ounces of rose oil at $3.16 per ounce, 2 ounces of ginger essence for $3.12 per ounce, and 3 ounces of black currant essence for $4.76 per ounce. Determine the cost per ounce of the perfume. The cost per ounce of the perfume is $nothing. (Round to the nearest centCompare and contrast economies of scope and economies of scale. Be sure to include outside sources.
