OutputTFCTVCTCMCATCA2525В12525502550C225406532.53257095E2511033.75F52516050What is the marginal cost of the 4th unit of output?402550Cannot be determined.

The marginal cost is the cost of producing an additional one unit of output. It is calculated by…

Output TFC TVC TC MC ATC A 25 25 ------ ------ B 1 25 25 50 25 50 C 2 25 40 65 32.5 3 25 70 95 E 4 25 110 33.75 F 5 25 160 50 What is the marginal cost of the 4th unit of output? 40 25 50 Cannot be determined. O O

Output TFC TVC TC MC ATC A 25 25 ------ ------ B 1 25 25 50 25 50 C 2 25 40 65 32.5 3 25 70 95 E 4 25 110 33.75 F 5 25 160 50 What is the marginal cost of the 4th unit of output? 40 25 50 Cannot be determined. O O

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 32CTQ: How does fixed cost affect marginal cost? Why is this relationship important?

See similar textbooks

Related questions

Q: Question attached

A: Profit-maximizing level: It refers to that level in which the firm can produce the maximum profit.…

Q: The table below gives a firm's costs. Output Fixed costs ($) Total costs ($) $80 $50 1 $80 $55 2 $80…

A: PRODUCTION cost is the incurred monetary value to produce the goods on factor of production . It is…

Q: your) 8 300 175 100 What graph would represent the total fixed cost curve? (A) C B B Figure J (2) O…

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

Q: t's birdhouse factory rents equipment for s students. It pays $50 a day for equipment and $14 e…

A: Variable cost does change with change in the level of output. The fixed cost does not change with…

Q: What is the marginal cost associated with praducing three units of the control variable, O (dentify…

A: Marginal Cost can be defined as additional cost incurred due to production of one more unit of…

Q: a. Fill in the marginal revenue (MR) and average revenue (AR) columns. Choco Lovers Cost and Revenue…

A: Answer to the question is as follows :

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: 5) If AVC = 20 & ATC = 25, then what is AFC? %3D %3D 6) If a firm produces 100 uunits of output and…

A: Fixed cost is independent of output produced.

Q: (Figure: Costs of Oil Production) Refer to the figure. Assuming that price equals marginal cost, the…

A: When the firm producing 8 units, the average cost (AC) of the firm is $30. Total costs (TC) of the…

Q: PRICE MARGIN AL ТОТА AVER AGE WORKE AVER AGE MAR GINA OUTPU AVERA ТОТА MARG INAL Т (Total | (P)…

A: A production function uses the factors of production (like labour, capital, technology, raw…

Q: Interpret in below diagram and determine at what point the short rus firm will shut down their…

A: When a firm enters and make production to sell the output in the market, it has the primary aim to…

Q: a. Using the information provided, compute all of the short-run costs for this firm and complete the…

A: Introduction: The term "fixed cost" refers to a cost that does not fluctuate when the number of…

Q: An SMSE has a production process with fixed lot size A. The table below shows the total output and…

A: The term “production process” means the physical relationship between inputs used and the resulting…

Q: 85 45 30 25 10 D. 10 18 20 32 Q cefer to the graph, at quantity 32 Marginal Cost (MC) is

A: here we find the cost curve and answer the following as follow-

Q: Marginal cost is given by 12 e5Q Fixed cost is 56. What is the total cost? O A. 24e0.5Q + 32 O B.…

A: MC=12e0.5QNow,TC=∫12e0.5QdQ=12∫e0.5QdQTC=12×e0.5Q0.5+FCTC=24e0.5Q+56

Q: 1. The cost of producing 5 gallon water bottles is given by C(q) = 0.005q2 + 2q + 1000. If 2000 5…

Q: iven - p=35−0.5QTC=0.5Q2+5Q D)What are the break-even quantities? E)What quantity minimizes total…

A: Given Demand function: p=35-0.5Q ......... (1) Total cost function: TC=0.5Q2+5Q .......... (2)…

Q: VC FC 1 60 100 80 100 90 100 4. 110 100 150 100 The marginal cost of producing 3 units of output is…

A: Marginal cost is the additional cost incurred in order to produce an additional unit of output.

Q: 3. For the technologies y=min{x.4x, } and y=+x, compute: a) the total cost and the cost of…

A: (i) Total cost is the sum total of fixed cost and variable cost, corresponding to a given output…

Q: Your cousin Vinnie owns a painting company withfixed costs of S200 and the following schedule…

A: Given: Quantity Variable cost 1 10 2 20 3 40 4 80 5 160 6 30 7 640

Q: Please see the attached two pictures, one for the graph, and the other for the questions.

A: In the third part of this question, which was uploaded in the previous link, there is a correction.…

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: 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: The table below shows the computer server installation options and their benefits and costs for a…

A: As the table shows the cost of installing 1 server is $900 and then for the installation of 2nd…

Q: Q TC FC TVC AVC ATC MC 100 -- 1 130 2 75 3 165 4 50 250 330 7 90 his firm's fixed costs for 3 units…

A: Total cost = total fixed cost + total variable cost

Q: In western Kansas, corn can be grown in ways with or without irrigation. Dryland farmers, who do not…

A: When there are two or more producers, the price charged is equal to the minimum LAC of the producer…

Q: A bakery operating in competitive markets sells itsoutput for $20 per cake and rents ovens at $30…

A: A bakery is operating in perfectly competitive market where it sells output for $20 per cake and…

Q: 6. Suppose that for a 1000, the dollar cost of producing a video cameras is C(x) = 500x - 0.003x2…

A: Answer: Given, Total cost function: Cx=500x-0.003x2+10-8x3 where, x⩾1000 Let us first calculate…

Q: 20. What is the Marginal Cost at Q=6? a) 7.50 b) 12 c) 20 d) 25 e) 45 f) 100 Og) 120 h) 160

A: The marginal cost is the cost of manufacturing an extra unit, and it relates to the change in…

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: MC ATC 20 -MR 16 14 22 Firm 30 40 At what level of output is average total cost minimized? 30 22 14…

Q: A Managment instutute can operate for a maxium 12 hours .lectures are the outout of the institute…

A: A function affirms the connection between one info and one result, or many contributions to yield a…

Q: tions: Enter your answers as a whole number. Electronics Flash Drive Production Revenues ity (8GB…

A: Answer, given below

Q: Rev conts Com Peverun 100 400 Figure 2 14) Based on the information in Figure 2, the total fixed…

A: Total Fixed Cost is the amount of money which is spent by the business without any business…

Q: The total cost of Mr. Plow, a snow-removal business, is given in the table below. Quantity…

A: Total Profits of 5 drive ways = Total revenues of 5 driveways - Total cost of 5 drivewaysTotal…

Q: The production function for a product in given by q-10OK a merginal product functiore MP100K and…

A: Firm will minimise cost at a point where marginal rate of Transformation is equal to the price ratio…

Q: Number of Cakes VC MC AVC FC TC ATC 50 1 30 50 25 4 155 Table 8.3 Table 8.3 presents the cost…

A: Marginal cost is the cost incurred on producing additional units of a good. To calculate marginal…

Q: Crawford Computing finds that its weekly profit, in dollars, from its production and sale of x…

A: Hi, thank you for the question. As per the Honor code, we are allowed to attempt only 3 subparts in…

Q: An assembly line can produce 60 units per hour. The line's hourly cost is $3600 on straight time…

A: a For 300 units, unit cost For 300 units, unit cost = (6 hours)($3600) / 300. Marginal cost is 0 for…

Q: To answer the folloning questions, use the image below, which presents cost Information for Karol's…

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

Q: Vinnie’s Painting Company specializes in painting houses. Their cost schedule is as follows: 1.…

Q: (1) The revenue for a product is R(x) = -0.004x? + 21x 6200 and the cost is C(x) = 0.02x + 38, for x…

Q: (a) Find the marginal profit for 2800 uni

A: Given : R(x) = −0.004x2 + 21x − 6200 C(x) = 0.02x + 38 Units=2800

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: (1) The revenue for a product is R(x) = -0.004x? + 21x – 6200 and the cost is C(x) = 0.02x + 38, for…

A: Given : Revenue function : R(x) = -0.004x2+21x-6200 Cost Function : C(x) = 0.02x+38

Q: Vinnie’s Painting Company specializes in painting houses. Their cost schedule is as follows: Output…

A: Fixed Cost remains same at all units of output. At 0 units of output, all cost is fixed cost and…

Q: A. The table below shows the cost schedule of XYZ Company, producing face shields sold at P22 per…

A: We have given the cost schedule of XYZ company. The market price of face shields is 22.

Q: Charlie Co. sells pastries and its production and cost table is given below. A worker costs $100 a…

A: Marginal cost measures the additional cost incurred in order to produce one additional unit of…

Question

Output
TFC
TVC
TC
MC
ATC
A
25
25
В
1
25
25
50
25
50
C
2
25
40
65
32.5
3
25
70
95
E
25
110
33.75
F
5
25
160
50
What is the marginal cost of the 4th unit of output?
40
25
50
Cannot be determined.

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

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

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

Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost, variable costs, and marginal cost?
In choosing a production technology, how will firms react if one input becomes relatively more expensive?
What are explicit and implicit costs?
How does fixed cost affect marginal cost? Why is this relationship important?
Do you think that the taxicab industry in large cities would be subject to significant economies of scale? Why or why not?
What are diminishing marginal returns as they relate to costs?
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.
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?
A firm is producing 20 units with an averagetotal cost of $25 and a marginal cost of $15. Ifit increases production to 21 units, which of thefollowing must occur?a. Marginal cost will decrease.b. Marginal cost will increase.c. Average total cost will decrease.d. Average total cost will increase.
Complete the table below: Output TotalCost(RM) Totalvariablecost(RM) Totalfixedcost(RM)Averagefixedcost(RM)Averagetotalcost(RM)Marginalcost (RM) 0 505 16010 20020 25036 33058 40072 48088 580106 700130 820150 980
Your cousin Vinnie owns a painting company withfixed costs of S200 and the following schedule forvariable costs:Quan tityof H()usesPaintedper MonthVarialilleCosts2 3 4 5 6 7$10 $20 $40 $80 $160 $320 $640Calculate average fixed cost.. average variable cost,and average total cost for each quantity. What is theefficient scalo of the painting company?
Assume TC = 400 + 2Q3 What is the marginal cost at the 4th unit? Enter as a value.